Years of working with Challenger Brands have taught us valuable lessons about how to most effectively compete against better resourced marketers. We have been able to boil down our learnings into seven critical keys to marketing what every Challenger Brand must know.
Understanding these seven keys shall provide you the necessary start to building your Challenger Brand marketing strategy. As you gather this information, be 100% sure that this information is valid and relevant to your primary target audience.
- Target Audience Insight – Know everything about your target (both buyers and influencers) to eliminate guessing. If you have to guess what your client wants or needs from you, you cannot move forward.
- Competitor Knowledge – Know everything about your competitors and how they sell to your target. Uncover and exploit their weaknesses, use their strengths against them and seek out opportunities to deliver for your target in ways your competitors cannot.
- Adjust the Playing Field – Create a playing field that emphasizes your strengths, shines a light on your competitors’ weaknesses and gives you the best chance to win.
- Stay Within Yourself – Do not try to accomplish more than your resources will allow.
- Identify Your Niche – Discover the niche that you can own and defend from anyone; that one thing that will make you famous.
- Thought Leadership – Become the industry thought leader that regularly provides credible/valid information and answers your target’s critical questions.
- Surround your Target – Develop a non-conventional and comprehensive Challenger Brand marketing strategy that completely surrounds your target. Everywhere your target looks, they will receive something meaningful and valuable from you.
If you can accept, understand and address these seven keys to Challenger Brand success, you’re well on your way to taking on the 900 pound gorilla.
Until next time…branding, challenger brands, competitive analysis, leadership, niche marketing