..the perception of others about your business is critical to its growth
“The true mark of a leader is the willingness to stick with a bold course of action — an unconventional business strategy, a unique product-development roadmap, a controversial marketing campaign — even as the rest of the world wonders why you’re not marching in step with the status quo”
For all its faults, the US has undoubtedly been the most innovative country on earth over the past hundred years. Decade after decade, some of the greatest products have come from the land of the entrepreneur. It defies market research when your business continuously innovates ahead of what any consumer can imagine. Everyone recognises a leader in its field, whether in business or otherwise, what’s more, everyone wants to be one because we all recognise the benefits. Think of some of the largest companies in the world, and none of them started off outside of being a small entrepreneurial startup. They just managed to jump to a position of leadership very quickly.
But how do you climb to a position of market leader when you’re in a more common or garden business? Is it possible, and are the benefits worth it in the end? A big part of our work is in positioning companies as leaders in their field whatever the size or sector of their business. Many companies come to us with the issue of being ‘buried in the crowd’ unable to rise above the competition. Therein lies a big part of the problem – so many businesses who come to use are so consumed with the competition that they give little to regard to their own positioning in the market, outside of their competition.
All too often businesses worry about what their competition is doing and react to it by doing the same. Immediately they become followers. Once followers they are placed on the back foot and in catch-up mode.
Being a market leader is absolutely worth the price you need to pay. It takes effort to become a market leader, and perhaps more to stay there. But the benefits can be life changing for businesses. We’ll identify which are your profitable market segments; how to grow and own them.
Knowing your customers well, keeping focused on them (rather than your competitors), and playing to your strengths are key components to growth, leadership and success.
Putting these components in to a market leadership framework with an effective segmentation program leads to more effective marketing.
Our Market Leadership and Customer Segmentation program will identify your competitive advantage, pinpointing your strengths and helping you anticipate and fulfil customer needs and trends through smart data segmentation. Then you can watch other companies try to follow you.
The benefit of a part time Marketing Director to a CEO
Being a market leader can be the difference between highly successful or moderate, particularly in a crowded industry. We know of one example where a multinational business is being severely rattled by a ‘market leader’ in one particular corner of the country. Now if that market leader decides to expand….
Why are they a market leader? Because they learned to segment, run a smarter, leaner business and positioned themselves top of their customers minds. They addressed the issues the competition couldn’t be bothered to. The benefits to the owners of the company are simply huge; at any time, with the right capital, they can take on and win against the dominant player in the market. That player is then forced to either buy them or change a sluggish, outmoded corporate culture. Which would you rather be, because it is a choice.
Market leadership is also about being a recognised personal leader as well. In fact, in many cases, that is the key to positioning your business as the segment leader; by positioning you as the corporate leader. Your market segment hinges on what you say, and what you do. You are seen as the innovator. It doesn’t matter what type of business you are, the same rules apply. We know of a plumbing business where the owner is young, entrepreneurial and seen within his geography, as the market leader. He cleans up. (see more about that at Thought Leadership)
Our Marketing Directors are experts at positioning you in your segment. It’s not always a quick fix, and there are other things that will need to be done, but it is the most enviable place a company can be. Leading the competition and letting them follow. Time to turn the tables.