Do you know that by focusing on your current customers, you gain the ability to understand the core components and interests of your most valuable clients. It’s About The Customer, Not You!
Among the many marketing challenges and choices that must be made to effectively communicate your company’s “story” is the defining of value. What value does your company
deliver? To whom do you deliver it? How is your company’s value communicated? These are key questions that we strive to answer in the best way possible. Have you got answers to these questions – please drop your comments.
The starting point of most competitive analysis is a question: Who is your competition? That’s because most companies view their competition as another brand, product, or service. But smart leaders and organizations go broader.
The question is not who your competition is but what it is. And the answer is this: Your competition is any and every obstacle your customers encounter along their journeys to solving the human, high-level problems your company exists to solve.
So our chief competition was anything that makes it harder to live a healthy life. This included biology (fat tastes good, sugar is delicious, and our brains are wired to want more of both); mindless eating; and the billion-dollar advertising and marketing budgets of companies that make fast food, junk food, and processed food. Our competition was the fact that in many situations healthy food is actually more expensive and less convenient than unhealthy food is.
If we had viewed Weight Watchers as our competition, we probably would have spent a lot of time trying to do what it does, just a little better. Maybe we would have raised money to get more-famous celebrity spokespeople, or tried to come up with some sort of next-generation points system.
Sure, someone in your company needs to understand the marketplace: who your competition is, what other products are on the market, and how they are doing, at a basic level and where your focus is, either on you or on the customer. But there’s a point at which paying attention to other companies and what they’re doing interferes with your team’s ability to immerse itself in the world of your consumer. Focusing on competitive products and companies often leads to “me-too” products, which purport to compete with or iterate on something that customers might not have liked much in the first place.