Showing posts with label competition. Show all posts
Showing posts with label competition. Show all posts

Monday, September 9, 2013

Instagram v. Vine

Which is better for your business?


Oh, our love of drawing lines and taking sides. Mac v. PC, Ford v. Chevy, Elvis v. The Beatles.

Somehow the choices we make have become dichotomies — we’re expected to embrace one, eschew the other, and develop a steadfast loyalty that’ll last forever (or at least until the next big thing comes along).

It’s happening in the social-media sphere too, and until we see that Next Big Thing, the opposing teams seem to be Facebook and Twitter.

Of course, there’s not much of a dichotomy there. Because those two social powerhouses are different enough, with different usages and potential reach, that business and casual users tend to embrace them both. At the risk of oversimplifying, we use FB as our storefront and Twitter as our megaphone. They’re synergistic, and we’re using them that way.

But now comes Instagram and Vine, properties of Facebook and Twitter respectively, bringing back head-to-head competition, bringing back dichotomy, alas, to our social-media choices.

Instagram has been around for a while. It started as a photo-sharing tool, with a bit of a reputation for hipsterism. Recently, Instagram has added video sharing capabilities, hosting clips up to 15 seconds long.

Which intrudes directly into Vine’s wheelhouse. Vine was designed from the get-go as a video app, hewing tightly to Twitter’s penchant for short, pithy messaging. Six seconds: that’s all you get to make your splash on Vine.

These are still early days for both, so they’re both still the domain of the dabblers. Business and marketing professionals are taking notice, though, and strategies are being created to make the most of each.

So what kind of appeal can you pitch in just a handful of seconds? A pretty compelling one, by necessity. You don’t have time for a narrative arc — you must get to the point, unambiguously, with some kind of call to action. You turn on the camera, state your case quickly, then yell “cut” and get it posted.

You’ve got a tad longer to do so on Instagram, with the added bonus of tying your messaging in with its massively popular photo sharing (currently approaching 20 billion pics, shared by nearly 150 million users). You can also easily integrate your clips into your business Facebook presence.

On the Vine side, if you can’t say it in six seconds, then you might as well give up. But you know what? You totally can say it in six seconds. Vine users are remastering what Twitter already taught us: cut out the fluff and let the message speak for itself. In six seconds you can communicate one funny, scary, enticing, or intriguing statement. Do that with your URL flashing on the screen, and you’ll probably grab some traffic.

So how about that dichotomy? Do we really need to choose sides? Well as you surely know, we’re lovers, not fighters (ask anyone). So we love ’em both.

Down with dichotomies. Down with either/or. Vine and Instagram, much like Twitter and Facebook, each offer unique possibilities for building brands, reaching customers, and sharing the message of the market.

We know not which course others may take, but as for us, give us Instagram and Vine.

The C4

  1. Choice is what makes the market work. We love choice.
  2. But for some reason, choice has turned into an either/or thing. If you select the one, you must disdain the other.
  3. Must it be so for Instagram and Vine? They’re similar enough, with their strict limit of either 15 or 6 seconds per video clip. Aficionados of each are probably already sneering and trash-talking each other.
  4. It doesn’t have to be that way. Instagram and Vine are similar, but not identical. They integrate well with their parent platforms, Facebook and Twitter. They can host messaging that dovetails nicely with your overall social media strategy. You can use them both to reach different audiences, in different ways. So do you have to make a choice? Yes — you can choose to use them both.

Monday, August 26, 2013

Is Premium Brand Development A Double-Edged Sword?

One must remain sharp to fend off the pirates — and the vikings.


First, you build your brand (you’ve heard us say this before).

But your work’s not done. You must then protect your brand. You must be on guard not just against your competitors, but also actual counterfeiters, and brand knockoffs.

That’s not a huge surprise, especially if you’ve ever been offered an eye-widening bargain for a new “Gucchi” handbag or “Rollects” timepiece. It might shock you to learn, though, that this is hardly a new phenomenon. Premium brands were being harried by knock-offs much earlier than most of us realize.

How early? At least as early as the Viking age — over 1,000 years ago.

The well-equipped Viking, as he set out from Scandinavia on his dark errands, might wear at his hip the finest sword he could afford. We know from the archeological evidence that the most sought-after sword in those days was the Ulfberht.

No one today is sure exactly what the word Ulfberht means. It might have been a family name, but since the swords were in production for well over a century, it probably wasn’t the name of a single craftsman. It was clearly a brand, though, in the most literal sense. The word was proudly and intricately inlaid into the steel of the blade.

A few dozen Ulfberhts have been recovered and are in museums around the world. Not long ago, researchers noticed something odd about them. About a third of them bear their “trademark” in this format: +ULFBERH+T. Tested metallurgically, the steel of these blades were found to be remarkable: extremely high-quality carbon steel forged in a process that wouldn’t be recreated in Europe for centuries.

The others, which comprise the majority, are branded +ULFBERHT+ and are made of cheap, inferior metal. Our hypothetical Viking would have no way of knowing this without access to a scanning electron microscope…or until his prized sword shattered during battle.

The battle metaphor is pretty common in business, marketing, and yes, branding. Some wonder if it might be hyperbole. Our 1,000-year-old case study insists it isn’t. Consumers buy brands they trust because they’re expecting consistency in quality and service. Knock-offs dilute that quality and erode that trust.

And even today, long after the last Viking ship has sailed, this can still be a matter of life and death.

The C4

  1. Brand counterfeiting isn’t just about cheap handbags that look vaguely like the original. Everything from auto parts to smoke detectors are being counterfeited. Cheap knock-offs can and do hurt people.
  2. A thousand years ago, some unlucky Vikings learned this the hard way. The expensive+ULFBERH+T and the affordable +ULFBERHT+ looked equally shiny and nice just off the showroom floor. It was only when its owner needed it most that the metal’s mettle was truly tested.
  3. Consumers and brand-owners are both in similar peril today. Every product, every brand is subject to counterfeiting. Only an informed public and a proactive business community can fight that.
  4. First you build your brand, then you protect it. Branding is a process that never stops. Yes, we’ve said it before, and we’re sure to say it again.

Tuesday, March 5, 2013

Should We Differentiate?

If you can, yes, but it may be short-lived.

We may be your favorite marketing gurus, but we’re probably not your only ones. And we’re probably not the only ones hitting you up with this familiar bit of advice: “You’ve got to differentiate yourself from the competition.”

Which is, generally speaking, true. But within generalizations hide a minefield of caveats and exceptions. To whit: what if you’re engaged in one of the countless industries where differentiation is well-nigh impossible?

Within several blocks from the office in which we toil, there are several full-service mechanics to be found. While they’re in no way identical, the differences between their prices, services offered, guarantees, etc. are narrow enough to be almost unquantifiable. Clearly, their customers are choosing them for some other reason than, “This mechanic is utterly unlike all the rest.”

Similarly, even those companies that do have the ability differentiate themselves, certainly don’t have the ability to sustain that advantage forever. Success inspires copying. And copying erodes differentiation.

Some businesses choose to tilt at windmills, by way of fighting that. Their lawsuits and cease-and-desist attempts might, if they’re lucky, scare off the most skittish of copiers. But there are always less-skittish competitors lined up to take their place.

So differentiation, while often important, can’t be seen as a viable tactic for everyone, nor a long-term strategy for anyone. The solution, as always, is to be the best at knowing your business. Know where and how differentiation is possible — and know, likewise, if and when it’s not.

If you can differentiate yourself, do so. But do so with the knowledge that it’s a short-term proposition at best. If it’s not possible, or if it’s run its course, find other sustainable competitive advantages that keep you in the forefront of your customer’s consciousness.

Competition is challenging. It’s among the few true zero-sum games that real life throws at us. With stakes that high, it’s just good business sense to rely on a toolbox’s worth of advantages, rather than cliched, one-size-fits-all ideas.

The C4:

  1. Differentiation is a marketing buzzword. There, we said it. It does make sense for some of our clients — maybe even a lot of our clients. But like most buzz-concepts, it’s over-used and over-relied upon. It’s time to correct that.
  2. Because, let’s face it, differentiation isn’t possible for everyone. There are products and services — commodities, mostly — that will bear little differentiation in the marketplace. To try to force it upon them looks absurd. Do not look absurd in the eyes of your customers.
  3. But maybe you don’t sell commodities, and maybe you’re well positioned to differentiate yourself from your competitors. Great! By all means, do so. But every dollar you make from that strategy is a dollar’s worth of incentive for your competitors to copy you. Differences don’t last, is what we’re saying.
  4. What’s the solution? There isn’t a single solution, and that’s precisely the point. Differentiation might be a useful marketing tool for you. Then again, it might not be. All we can tell you at this point is there are a slew of strategies and tactics that are right for you. Walk through our door, sit down and talk with us, and we’ll discover your unique story, together.

Tuesday, February 12, 2013

Is It Your Category?

Then kill it!

The march toward excellence brings its own rewards. Sometimes it also brings a really cool name.

For instance: category killer. Even if you’re unsure of the definition, you have to admit that’s a pretty awesome phrase, in a gritty film-noir kind of way.

"Category killer" comes to us from the world of retailing. A category killer is a specialty store, one that so dominates its category of offerings, that it effectively “kills” the competition in that area. The competition surrenders that category of merchandise, knowing that the “killer” has it all sewn up.

The Henry Bierce Company of Tallmadge has since 1910 been playing in one of the most competitive sandboxes imaginable: hardware and home improvement. Since the rise of the big-box hardware stores, family-owned stores like Bierce’s have been endangered and dwindling toward extinction.

But Henry Bierce is a category killer. The category is masonry. Oh, they have every other type of hardware you’re looking for, to be sure. But bricks and blocks, trowels and mortar tubs, along with the skills and experience that go with them — Bierce owns that category. There are no viable masonry competitors for miles around. There probably never will be, as long as there’s a Henry Bierce Company.

There are many disreputable, dishonest, even illegal ways to crush the competition. There’s one laudable and estimable way to do it, and it’s how Bierce did it: domination through excellence. Killing the category by being best at it. Showing your competition that it’s folly to take you on.

As we’re sure you’ve guessed, we’re not just talking retail anymore. Anywhere there’s a category of commerce, there’s an opportunity to kill it. If you’ve got competition of any kind, if you’ve got a category of any kind — you can assert your domination by claiming the title of “best.”

And that’s nothing less than what you were already going for. Right, killer?

The C4:
  1. Retail is where we all go for Selling 101. No matter what sort of commerce you’re engaged in, you can learn a lot about the theory and application of marketing from the folks who set up shop to do it every day.
  2. The pinnacle of that retail world is the category killer. This is the seller who knows his category so well, who can sell it and service it like none other, that effectively shuts down the competition through the force of his own awesomeness.
  3. Anyone can be a category killer. Anyone. And everyone should be striving for it.

  4. Next time you’re building a wall (or wanting to gaze upon a category killer), drive down by Tallmadge Circle and visit our friends at Henry Bierce. Conventional wisdom says Lowe's and Home Depot killed their category, so Bierce is the tottering dead and just doesn’t know it yet. Don’t believe it, Bierce will outlast us all. Bierce shows how you pick your category, work hard, pay your dues, and own it. Do that and your title couldn’t be more apt: Killer.

Monday, September 24, 2012

Let Your Fingers Do The Walking

...and clicking.

First, a couple disclaimers here: Yes, we know the Yellow Pages have never really gone away. Just like you, we receive ours every year — they clutter the porch then plop into the recycling bin, often without ever being opened.

Second: No, we don’t want to wind back the clock. We love today’s technology, and we’re awed by the fact that in lieu of letting our fingers do the walking, we can type and click and within seconds find the businesses we’re looking for, get a synopsis of consumer reviews, and map out detailed driving directions.

But — the Yellow Pages! From a marketing perspective there are things about the Yellow Pages unmatched by anything online.

For instance, say you’re a plumber. Ask yourself, what is it you offer your customers? You might answer: fast service, free estimates, and satisfaction guaranteed. Great.

Now flip open the Yellow Pages, and see what every other plumber in the city offers. It’s a quick reality check, and a prod to get busy differentiating yourself from the competition.

Nowhere else can you get such targeted business intelligence about your local competition, their strengths and weaknesses, and what they’re saying to lure away your customers. It helps you hone your message and define your Unique Selling Proposition — that pithy description of why you and you alone should be their provider of choice.

So as long as businesses are still advertising in the Yellow Pages (and they are), so should you. And you should be using it as a resource, too.

In fact, go get it right now. It’s probably still there, waiting on your porch.

The C4:

  1. The Yellow Pages — not yellowpages.com but the old fashioned annual phone directory. It’s become something between an anachronism and a punchline by now. But it still exists, businesses still advertise in it, and consumers (much fewer but still notable numbers) still consult it.
  2. For local businesses, it’s an intelligence tool. Within a few conveniently alphabetical pages you can check out all your competition, and see what they’re saying they offer.
  3. And that should influence what you say. To win over customers you differentiate yourself. Let your Yellow Pages perusing help you figure out what you offer that they don’t. Then let that become your Unique Selling Proposition.
  4. Market accordingly. Build a marketing communications strategy around your uniqueness. Emphasize it in all your consumer-oriented messaging. And yes, that includes your ad in the Yellow Pages.

Tuesday, June 5, 2012

Keep ’Em Close

Defeat? Yes. Destroy? No.

Competition is healthy. That’s something businesspeople grasp almost intuitively. We understand that competition creates efficiencies and forces us to better serve our customers. It can even make our work more enjoyable. Some of us thrive on competition and enjoy the fact that it brings out the best in us.

But it can also bring out the worst. Quick self-diagnosis: Do you consider your competitor to be your mortal enemy? Ever use words like “destroy,” “bury” or “scorched earth” when describing your competitive plans?

Now that’s not healthy.    

There are very few industries in which competition is a zero-sum game. In other words, your competitor’s successes are not necessarily your failures. Thinking of them as such only leads to ugliness in the marketplace.

Instead, focus on areas of possible collaboration. Are there projects in which you and your competitor can form a strategic alliance? Failing that, can you pool resources to influence public policy on behalf of your industry at large?

If nothing else, just have a conversation. Take a lunch every now and then to talk through differences or just get to know each other. You don’t have to be best friends, but you should come to accept each other as decent human beings just trying to earn a living.

We’re all just trying to earn a living, but chances are, we’re all someone’s competitor. And it’ll take all our efforts to make sure that competition stays healthy instead of turning into something ugly.

The C4:
  1. Business competition drives market efficiencies and creates choices for the consumer. All else being equal, it’s a positive force for our economy.
  2. But competition can turn ugly. It’s all too easy (and far too common) to dehumanize our competitors and to work toward their destruction.
  3. That’s not healthy and it’s not good for our economy. Competition is about finding an equilibrium. Very little in business is zero-sum. There is room for success for all of us.
  4. Look for common ground. Look for areas of cooperation. Keep lines of communication open. Compete, by all means, but remember you’re competing with decent people who tuck their kids into bed at night. Hopefully they’ll remember the same about you.

Wednesday, December 28, 2011

The End of Longevity?

Why brands without a competitive edge will fail.

Citing poor holiday sales, Sears Holding Corporation this week announced plans to shutter about 115 Sears and Kmart stores nationwide.

Not wishing to pile on to an unfortunate situation, but we can’t help but wonder if we’re seeing a failure of brand here — or more specifically, the failure to keep two venerable brands updated and relevant.

After all, what’s Kmart? A discount store, certainly, but what differentiates it from the world’s largest discount seller? Walmart is not only the world’s largest retailer, they sell more TVs, groceries, toys, guns and diamonds than any other company in the world. What has Kmart done to compete with that? And if they can’t compete, how do they distinguish themselves?

And Sears, founded in 1886, is one of our oldest retailers. Their history is long, storied and honorable. But are they modern? Are they competitive? When was the last time you shopped at Sears?

Longevity is enviable, but it’s nothing without competitiveness and relevancy. Lacking those vital components, longevity can cease at any time.

The C4:
  1. Longevity requires a strong brand.
  2. A strong brand requires differentiation.
  3. Differentiation requires competitiveness.
  4. Competitiveness requires a desire for longevity.