If you truly know your target audience and customers, you are close to defining your brand. An example is your friendly neighborhood credit union. The credit union movement has been around for over half a century.
Credit unions once were formed to serve a select group of consumers who had something in common – like where they worked or the organization they belonged to. It was easy to distinguish their members from anyone else by the common ties. This gave them a target market that was easy to identify and reach.
Then came community charters (opening up to anyone who lives works, attends church or school in the immediate community).
Once they became community chartered, it became a double-edged sword. Where they once targeted a very select group to heavily market, the expansion of charters widened membership far beyond the original group. The message and branding became diluted to the point where they don’t know who they serve specifically. Many have lost their uniqueness in the process. Their diversity requires of them a new brand identity.
Does your organization or company need to create a new brand identity?