Marketing Manna

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Your biggest competition

When we hear competition, most people think of competitors who are competing in the same market.

However, the biggest competition almost always (and in most domains), is indirect competition.

Far more than competing providers, the biggest opposing force is a target market member who is sure that he doesn’t need you because he thinks he can get the job done by himself. 

Typically, most competing providers occupy a cumulative 10–20% of a market (unless saturated) and 80% of the market lies untapped. 

While the interested buyer is the low hanging fruit worth pursuing in the early days, don’t forget that scale and eventual success lies in changing the mindset of the masses.

Takeaway

“We have no competition” is the most ignorant marketing claim ever!

Is this same persona your biggest competitor too? Let me know here.

Companies that solely focus on competition will die. Those that focus on value creation will thrive.

Edward de Bono

Kurian Babykutty

CEO, 40 Parables

Kurian's a steward of storytelling and a keen observer of people, which is why he geeks out on making marketing meaningful.

Manna is tastiest when shared together.
Share this with someone who needs it today.

Manna is tastiest when shared together. Share this with someone who needs it today.