(Reading Time: 4minutes)Most brands are challenger brands. Probably yours.
It’s not just a matter of share. If you have fewer resources than your competitors, you’re a challenger brand. You might have a smaller budget. Lower awareness. A short-handed sales team. Or all of these, plus a few things I haven’t listed, you lucky devil.
I’ve been fortunate to work on challenger brands for my entire career, in both brand management and consulting. I say “fortunate” because victory is sweeter when you come from behind, or when you achieve more with less.
Around 20 years ago, I was the brand manager of Airheads candy. At the time, our two largest competitors, Skittles and Starburst, outspent us by about 20 to 1. Despite this, we tripled our sales in less than five years. And we launched what became the fastest-selling non-chocolate single in the country. (The Airheads 6-bar package can still be found near cash registers today.)