© Alessia Giangrande | Dreamstime.com
Competition is abundant. Whatever field you’re in, there are competing forces offering your product or service — or a good substitute.
Price competition is often the way many choose to beat the competition. That is not the best way to compete. There is a much better and more profitable way to do business.
It wasn’t that long ago when many would joke about their “crackberries.” These were the ubiquitous Blackberry cell phones that inspired technology addiction jokes, and many felt that the Blackberry brand would always be the dominant force. No one could dislodge them.
Well, along came this uppity computer company who had the unmitigated gall to produce a music-playing device called the iPod. If that weren’t enough, that company came along later and introduced a device that combined music, data and texting. Oh yeah, it also made phone calls!
The rest is history.
Embarking on Innovation, Not Replication
Apple didn’t try to outcompete Blackberry with just another cell phone. Instead, they leapfrogged ahead of Blackberry with a phone that eventually enticed millions of former “crackberry” users to purchase and “love” (yes, they used that word a lot) their new Apple iPhones. Apple sparkled in creating new uses. Apple continues to sparkle with that. Now many refer to the old staple phones as “grandpa berries.”
Tom Stanley was one of my professors at Georgia State, where I got my MBA. He told us the story of the “Minie-balls-crashing-in-the-air theory of marketing.”
The Minie ball (sometimes spelled “minnie”) was developed by French Army officer Claude-Etienne Minie. The design of the Minie ball allowed rapid muzzle loading of rifles. This innovation replaced the use of the smoothbore musket. During the Civil War in the United States, both northern and southern forces embraced the new technology given its superior field-fighting ability.
But there were so many of the Minie balls used that often they would literally crash in the air. Dr. Stanley told us that if we see a situation where everyone is doing the same thing, we need to get away. He recommended being creative and coming up with something that others are not doing.
By the way, Dr. Stanley went on to write several best-selling books in the “Millionaire Next Door” series. I think he knew what he was talking about!
Playing Leapfrog
Don’t fight in the realm where everyone else is competing in the same way. Be different. Leapfrog over the competition by being creative.
Brilliant creativity and innovation are the lifeblood for successful companies today and tomorrow. Don’t rest on your laurels. Apple didn’t. Frankly, the marketplace doesn’t care what you did before. What matters is what creative, problem-solving and life-enhancing miracles you can create now at a reasonable price.
Don’t get involved in the “Minie balls crashing in the air” practice of marketing. If everyone is using the same tactics, you want to get out of that space. Think of delightful, innovative ways you can create a unique experience that sets you apart. Be the only one who provides a unique experience for your customers. Don’t try to out-compete. Instead, out-create your competitors!
