Thinking goes that if you’re the first in a market then you’re guaranteed success.
There’s no sense in opening a coffee shop two blocks from Starbucks or selling T-shirts from the back of your car when an average consumer passes 15 retail stores a day.
As I often like to say, if you think that, then you’ve thought wrong.
There are billions of markets. Small and large. There are neighborhood markets, city markets and, certainly, markets of one (you?). Markets are often unpredictable because if one has always purchased Starbucks, that doesn’t mean they will always purchase Starbucks. The story they want to hear (and tell themselves) tomorrow may be different from today.
They may be inspired by a friend to try something local for a change tomorrow and then you’ve got your shot. Now you have a consumer you never planned for, never thought you would have because you weren’t first in the market.
The stories and motivations people have change, and rapidly.
Likewise, the stories people tell one another are told at the fastest rate they’ve ever been told. Brand conversion is now often an invitation to brag about it, on social, to other friends, to coworkers. And suddenly, your market is looking bigger.
Until the story changes again. And it will.
Stay Positive & Will You Be Ready?
Photo credit
- There Might Be Some Value - November 17, 2024
- Emotionally Distraught About The Wrong Thing - November 16, 2024
- If It’s Not Helping, Ignore It - November 15, 2024
