07 Oct Play Your Hand
What is it that makes you different from the many others in your space? Are you just a me-too?
To test this, browse through the websites of companies competing in your space. Jot down how they pitch themselves. Different words, same meaning? Then make a note of what you’ve said about yourself. The words might differ but chances are that you’re all much of a muchness. You’re all playing me-too. All sitting around the table with the same hand of cards.
To illustrate the point, we looked at a study of Asset Management companies and this is basically what they all said about themselves:
- Client focused
- Strong Risk Management
- Disciplined Approach
- Trust and transparency
These are all “table stakes”. Qualifiers. They can all sit around the table but they all have the same hands. No differentiation. How do people choose you if you all say the same thing!?
OK, so people choose Asset Managers based on performance. But what happens when their performance slips for a year. Is there something else that glues the investor to you? Yes, when you stand for something like Allan Gray who pitch long term potential. If they slip a year or so, cool, it’s about the long haul. Brilliant!
Aside from the asset management sector, you’ll find the same me-too scenario in most industries.
Is NOTHING different? Attitudes? Approaches? Views? Talent? Beliefs? Their way of handling queries? How an order is fulfilled. Think Yuppiechef.
Sadly, many companies can differentiate but they’d prefer the anonymity of being a me-too. Perhaps we’re scared to stand out for fear of ridicule – that’s the human in a brand.
Be the best that you can be, play your hand.
CEO & Brand Strategist