How to differentiate yourself in a crowded marketplace and a sort of book review
I came across a book this week called “Mavericks at Work: Why the Most Original Minds in Business Win
The book takes a look at 32 forward looking companies, some big, some small, but all are innovative and have challenged the status quo in their industry. From the book:
“The goal of Mavericks at Work is to provide a fresh alternative to business as usual-an eye-opening, energetic, flat-out useful set of ideas and case studies that is as true to the maverick spirit as the break-the-mold ideas it champions and the unconventional leaders it chronicles. We hope the book helps you to think bigger, aim higher, and win more decisively.”
Here are a couple of take-aways from the book and what it takes to stand out and succeed in this business.
In a crowded marketplace there will always be a demand for something distinctive and original. The book used Potbelly Sandwiches as an example of how to stand out in an industry where the last thing the world needs is another sandwich place.
So how do they stand out? By not paying attention to the competition, a fanatical focus on customer service and creating an experience and personality that is different from any others in their industry. The average Potbelly store generates annual sales of $1 million – three times that of Subway.
Potbelly doesn’t claim to make the best sandwiches, or have the best sandwich making equipment or the highest quality ingredients.
The last thing the world needs is another photographer selling pieces of paper. We are not in a commodity business. It is about creating an experience and connecting with clients on an emotional level.
So how to stand out from pack? Stand for something. Create your brand around something your passionate about and build that into your photography, products and marketing. Create a story around your clients and your product.
Don’t try and appeal to ALL customers. Focus on a narrow set of customersYou need to specialize. Senior portraits are not a specialty. Family portraiture is not a specialty. Creative portraits are not a specialty. Offering a session and a cd at prices that are less then most children earn in third world countries is not a specialty. Not to mention it’s a horrible business plan.
Find a niche within senior or family portraits for example. Figure out who your target client is, then create an experience and product just for them and ignore those who aren’t your client. Write down every detail of of your target client, who are they, where do they shop, what do they like, their personality, what music do they like – anything you can think of.
Advertising to customers is not the same as connecting to customers
Very few of the profiled companies did any traditional advertising. Most of their marketing dollars were spent on customer service, experience and connecting with their customer. None of the companies competed on price.
The photography industry is over saturated market with “me-too” styles and imagery. You can’t win when you’re playing the same game as everyone else.
I recommend Mavericks because it will get you to look at your business differently and how to connect to your clients. It will get you thinking about ways to be different, innovative and original. There are a lot actionable ideas that you can use.
Shaking up the statue quo is something that this industry needs right now – fresh thinking and new ways of doing business in the future.
Mavericks at Work: Why the Most Original Minds in Business Win
Category: Marketing, Outside the Industry
