Your customers can tell you why they buy, but they can’t tell you how the industry landscape is changing, which conglomerates are entering the market to steal market share, or what the biggest threat is to your profit margin. To be an insurgent brand and a market disruptor, your company must be a student of the industry, all the time. Part three of this six part series by creative strategist Tyler Leahy focuses on how to observe the market and the competition once you have already done research to gain insights about your target customer.
The most disruptive brands win through insights. They are determined to understand their primary target customer better than the competition. They see the unseen. For your brand to have a truly differentiated value proposition, you must first understand the buyer — and it does require the restraint of focusing on one singular primary target customer.
One of the ways businesses can navigate change or overcome challenges in their market is by exploring collaborations with like-minded brand partners. During the COVID-19 pandemic, Six-Point Creative has challenged its own stance on collaborations with peers, and in some cases perceived competitors. The company once hesitated to explore partnerships, but now considers collaboration an integral means of finding new inspiration and pushing their brand forward.
During downturns in the economy or other major impacts on their industry or market segment, companies have the tendency to operate from a mindset of scarcity. Instead, run your brand strategy for an abundance mindset. Thinking from a position of abundance will enable your team to uncover new ways of demonstrating your value to customers and meeting emerging needs you see in the marketplace. Rather than pivoting, you may simply need to leverage your company’s existing brand strengths in new ways.
How do your company’s brand values and taking action against racial injustice intersect? Following the death of George Floyd, Six-Point Creative CEO Meghan Lynch reflected on each of Six-Point’s brand values, and how they intersect with the need for racial justice. By taking this approach, the company was able to determine authentic actions it can take to influence positive change.
In a leadership landscape still dominated by men, women-owned businesses and their CEOs commonly exhibit leadership lessons all companies can learn from: Be more empathetic to employees, taking their lives and their personal growth into account in your business decisions.
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