Dare, Don’t Compare

Many marketeers make mistakes. One of the biggest mistakes is to ignore the consumer. This could lead to disastrous results. I recommend my four strategies under my time-tested module, ‘Dare. Don’t Compare’.

The first strategy of my ‘Dare. Don’t Compare’ module is:
Focus on the consumer, not on the competitor.

Many marketeers spend time focusing on the competitor, which, in my opinion, is inappropriate. Instead, marketeers should focus on the consumer. By doing so, they can understand the consumer’s:

• Existing needs
• Latent needs
• Future needs
• Changing needs
• Areas where there is no need

In today’s world, particularly during this pandemic, focusing on the consumer helps in identifying new demands. For instance:

• Consumers now prioritize sanitization and fumigation, leading to a rise in sanitisers and sprays. Brands like Dettol, Savlon, and Lifebuoy have successfully addressed this need.
• Consumers increasingly prefer takeaway meals from restaurants and home delivery from hotels. Brands like Starbucks and Marriott have capitalized on this shift.
• Factories, offices, housekeeping facilities, schools, and colleges require frequent sanitization. Brands like Virosil and Virex have stepped up to meet this demand.

If marketeers focus too much on their competitors, they risk missing out on critical consumer insights and emerging opportunities. Successful brands innovate based on consumer needs rather than reacting to competitor strategies.

Hence, the golden rule is:
Focus on the consumer, not the competitor.

The second strategy of my ‘Dare. Don’t Compare’ module is:
Consumers give revenue, competitors take away revenue.

You need to be daring with your product launches and service offerings. You do not need to care what your competitor is doing. Instead, focus on your consumers to generate revenue and drive growth.

By prioritizing the consumer:

• You achieve topline growth
• You achieve bottom-line growth
• You ensure long-term profitability

Revenue and profit come from consumers. Decline and losses come from competitors. It does not make sense to pay attention to competitors. Instead, marketeers should focus on the real revenue generators—the consumers.

The third strategy of my ‘Dare. Don’t Compare’ module is:
Do not get obsessed with the competition, get obsessed with the consumer.

You can keep analyzing the competition, but after a point, that effort becomes futile. Instead, if you spend your time, money, and effort understanding consumers and their various segments, you will:

• Identify new product opportunities
• Create new service offerings
• Strengthen brand loyalty

There is nothing wrong with getting obsessed, but getting obsessed with the wrong audience is a disaster. Get obsessed with your consumers, not your competitors.

The fourth strategy of my ‘Dare. Don’t Compare’ module is:
In times of parity, create disparity.

If you try to copy your competitors and come up with parity or ‘me too’ products, the chances of success are limited. Instead, focus on:

• Finding gaps in the market
• Meeting unfulfilled consumer needs
• Launching differentiated products and services

By creating unique positioning and differentiation, you can achieve long-term success. To do this, continuously:

• Observe consumer behavior
• Listen to consumer feedback
• Identify emerging trends

I strongly recommend my ‘Dare. Don’t Compare’ module with these four strategies. The consumer is God. The consumer should always be at the center of your attention, not the competitor.

Just as in cricket, where a batsman must focus on the ball, not the bowler, in marketing, you must focus on the consumer, not the competitor.

Dare. Don’t Compare.