One of the oldest problems in the pantheon of marketing problems is targeting. Everyone who wants to sell something wants as many people as possible to buy. Laudable. However, when it comes to brand strategy it’s message-limiting to be everything to everyone. (I call this the “fruit cocktail effect.”)
The tighter the target the tighter the brand.
That said, I worked on a branding assignment for a web startup targeting artists, art buyers and art sellers (e.g., galleries). Three targets. All were important and needed to be part of the strategy.
On an assignment for a physician group built after the Affordable Care Act was passed, targeted physicians, patients and payers (insurance companies.) Also a broad target. Each constituent group needed to be part of the strategy.
When the targeting gets broad the work gets harder because value props are often less shared. Targeting is a conscious decision. If you go broad don’t do it out of avarice or laziness. Do it because the product and experience dictate.