Is your legacy consumer
your best growth target?
The number one question we get from brands is: which consumer target will help achieve our growth goals? It could be your legacy consumer, but not necessarily. And despite their popularity, Millennials and Gen Z are not necessarily the answer.
So entrepreneurs and marketers need to ask themselves 4 key questions:
How much do you really know about your current consumers? And not just about their behavior, but their needs and attitudes towards the category and towards your brand
Should you just tap into this consumer pool for growth? And if so, consider if your positioning, portfolio and innovation pipeline are optimal to capture their needs
Which secondary growth target can accelerate growth? For these, you’ll want to explore their needs and attitudes vs. your legacy consumers and see if you have the right products to attract them
How much do you need to adjust your positioning to accommodate for the growth target's needs without alienating legacy users?
