![]() If no one sees their ads, no one knows they exist. What this will do is force them to compete with you for ad dominance, while broadcasting your own product/service over the top of theirs, and fuzzing their market messaging in the process.Īl Riest and Jack Trout ( two highly-successful marketers) once famously said: “ Marketing is a battle of perception, not products,” and those words could not be more true. Once you’ve figured this out, you want to both start a brand new ad campaign of your own on Google, using the same keywords this competition is using, and crank up your bid/budget as HIGH AS YOU POSSIBLY CAN. How does it work? How do they deliver their results to their customers? What tech stack do they use, and more importantly, what infrastructure do they rely on to make it happen?Īll of this information is critical for the next phase of your campaign. If you are seeing an offer that you can legitimately identify as NOT a smoke test, but the real thing, the next thing you want to do is figure out how they’re doing it. Once we’ve found them on Google, we can follow their ad links to their product/service offerings, and find out exactly what their value proposition, unique selling points, and differentiators are. If your competition is backed by venture capital, you can bet your bottom dollar that they’re going to be on Google, using Google Ads, and we can leverage that to your advantage. Your market vertical doesn’t exist in a vacuumīack in 2005, Blockbuster was valued at $5 billion, and all but wrote off their seemingly indirect competition, Netflix.Īfter all, why would someone want to wait to receive a movie in the mail, when they could just come into a store and rent it instead?īy 2010, Netflix was valued at $9.27 billion, and Blockbuster filed for bankruptcy with almost $1 BILLION DOLLARS IN DEBT. The third one in this list is the most dangerous, because it’s the hardest to defend against, and the hardest to convince stakeholders that it’s a serious problem. Your direct competition normally isn’t going to be the thing that brings you down, it’s almost always going to indirect competition that was able to swiftly pivot into your market space, and rapidly capture your market share via one of three methods: Out of anything that could absolutely kill your product and wreck your business on the open market, the #1 thing you need to look out for is: Today, we’re gonna cover what is, by far, the single biggest killer of products and businesses that you need to be aware of as a product designer. Welcome to the business sector of the 21st century. Seemingly out of nowhere, your customers bolt, and with orders dwindling, your business craters. You’ve designed the product, you’ve tested it, released it, and the orders are rolling in.
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