What happened to Blockbuster?
Once king of the video rental hill, Blockbuster now resorts to copying the new innovators. What happened? Did they get lethargic? Too comfortable? Not tech savvy enough to keep up?
What about you?
Are you copying your competitors to stay in the game?
Or are you creating your own game?
To thrive in sales, avoid following! Here are 3 strategies to lead in your market:
1. Own a benefit.
Redbox successfully jumped into the video rental fray by satisfying the particular desire of consumers to grab a new release with extreme convenience.
Price doesn't count as a benefit. So what about you? Once you've determined your benefit to own, innovate! Assemble the technology, brand identity, message, and sales approach needed to differentitate and deliver.
2. Focus on a niche customer type.
"Taking anything you can get from anyone" is the follower's fast road to failure. People with the same needs talk to one another. And by becoming their champion, you can claim the entire category. The message you'll hone and the expertise you'll own, will propel you to the status of specialized leader.
3. Dominate a channel.
Netflix owns your mailbox. Redbox has your street corner. iTunes supplies your wireless and mobile devices. Hulu holds the web. Of what distribution method or channel are you "The King?" If your competitors own the trade shows, don't put a copycat booth next to them! Flank them by becoming the top sponsor of the event.
Are you a lemming, following the parade of salespeople off the precipice, or are you innovating your way to leadership and success?