“My odds for success are greater if I follow the leader.”
Sounds logical? Not necessarily. Don’t jump in before looking at the facts.
Many organizations follow the leader’s market position because it feels safer than standing out from the crowd. However by doing so, the odds may not be forever in your favour.
History shows that copycats are rarely rewarded. A safer bet for your organization is to hone in on a disruptive idea or a really unique market position. And your focus should be a key audience driver. Conversely, once an attribute has been applied successfully by your competition, it’s likely no longer attainable by you. It would take great effort and an exemplary strategy to obtain if already being used appropriately. Your focus is best spent in seizing a different attribute and dramatizing its value to your audiences to establish or increase your market share.
This approach will require some sacrifice. In order to focus, a company will have to give up some ‘potential’ areas in the process. Casting your net wide appears to be the easy way out. But it is not easily sustainable, and in the long-term could be proven more difficult. History has shown that honing in on a key attribute can lead to greater market share than casting a wide net. And it requires less effort and resources. You just need the idea and the tenacity to focus it through.
Once you have a proven successful attribute in place, shifting your position based on your competition is not a good recipe. Your commitment to your direction and position is a crucial component of long-term success. This doesn’t mean that you can’t be adaptive. You just need to ensure that any shifts are well thought through, and support your core positioning. Your plan should allow for this and be a map for you in times of change.
If marketing is truly a battle of perceptions, than you need a strategy and a comprehensive plan that will sustain and grow your position in your marketplace.