Almost every industry has its Goliath – its Walmart, its Amazon, its Home Depot. And once a Goliath emerges, challenger brands generally react in one of two ways: Fatalistic resignation or invigorated creativity.
This morning, NPR ran this piece about New York City’s Posman Books, the rare independent bookseller that’s actually growing. They’re doing it by tailoring each store to the needs of its consumers. The Grand Central store is very different from the Chelsea location.
Posman Books has clearly chosen the creative path, and they’re reaping the rewards. In every market you can name, challenger brands are growing by focusing on a cohesive few, not a disparate many.
If you’re facing Goliath of your own, this kind of niche marketing illustrates an important principle:
Serve some consumers better than your competition, and you may have a path to victory.
And, its corollary: Doing the same things as your competitors (with fewer resources) is a sure path to extinction.
About Matthew Fenton: Matthew founded Three Deuce Branding in 1997 with a simple mission: “To help good people build great brands.” He’s a former CMO who repeatedly led underdog brands to dramatically outpace the market, and now he does the same for the clients he serves. Businesses with revenues of seven figures or more trust Matthew to help them achieve “brand clarity” through core brand strategy and positioning. Matthew is also a highly-rated speaker. Contact Matthew here. He’s based in Chicago.
Copyright 2014 – Matthew Fenton. All Rights Reserved. You may reprint this article with the original, unedited text intact, including the About Matthew Fenton section.