Leader vs Challenger: How To Win The Battle
There are many new brands, possibly younger, or more attractive, or with more entertaining topics to discuss, and they are coming after “your partner” – your current client.
Juan Carlos Mallet
(5 minute reading) We have grown up with the “fantasy” of everlasting love. “And they lived happily ever after…” But nobody showed us how to unlock that mode of life, and to be honest, we all struggle. What if there was a code to make us better prepared for making love endure? Or to make us experts in breaking relationships? Would you use it? In Palmer, Cooper & Wallace, we believe that brands are like people. Once you have achieved love, you can make it sustainable for a long time, but this requires some hard work, the same in real life. So, your brand has achieved a leadership status or has strong followership and now owns some consumer’s loyalty, his or her “eternal” love. Do you think that you can finally take a break? Probably not: behind you, there are many new brands, possibly younger, or more attractive, or with more entertaining topics to discuss, and they are coming after “your partner” – your current client. As a leader, you must keep your essence, right? That’s what makes you great. But at the same time, you should be updated and bring something new; if not, your users will get bored soon, and therefore, your relationship will die in five minutes because many people are looking to steal “your partner’s” attention. The same happens in the world of brands, plus here, they are competing for your wallet. Well, that may be the case in the world of dating too, but especially in marketing. If you are in the leader’s seat, you must keep building the market; you should dictate where it goes, take risks, and jump. The incredible thing about being in that position is that if you are brave and act in good faith, it is the same as with people: even if you make a mistake, they will probably forgive you. What is unapologetic is that you do not evolve or that you do not respect your consumer, your partner. Now, if you find yourself in the challenger’s seat, you must provoke a disruption within the perfect place and timing so that people notice your presence and want to know more about you. After that, you are ready to generate infidelity towards the leader and ensure that your product/services are a much superior experience than the ones s/he offers. Then, you will continue to evoke many unforgettable encounters... but we will talk more about that soon. As I write these words, an example that comes to my mind is Tesla, a disruptive brand that came to challenge a world dominated by BMW and Mercedes Benz. Tesla is changing the game, profoundly understanding its’ target group’s desires, redefining luxury and design while leveraging the latest consumer trends, consistent with its purpose and values with a “sexier” proposition for the luxury car segment. By the way, Tesla was the brand across categories with the highest growth between 2019 and 2020 (+65% Y.O.Y.), according to the “Brand Finance: Global 500 report 2020”. At Palmer, Cooper & Wallace, we leverage the power of love and seduction applied to a leading or a challenging brand. We will make your business notorious, attractive, and you will get to know the target like no one else so that your earnings in the market multiply and your consumers have a deep and long-term relationship with your product.
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