Branding: The Competitive Edge in a “Flattening World”
Branding: The Competitive Edge in a “Flattening World”
In his article titled “Globalization and the Death of the Mid-sized Company,” Leamon A. Crooms III cites the “Cold Hard Facts”:
Cold Hard Fact #1 - Global competitors play by different rules set in their own geographical regions. So not only do many of them have lower labor costs, but they also have fewer government controls, giving them an additional cost advantage.
Cold Hard Fact #2 – In the future you will have less time to react to your competitors. Geographic distribution makes it harder to keep your eye on the global competitor. If they are test marketing a new product, then you may never know until it shows up in your back yard.
Cold Hard Fact #3 – They know more about you than you know about them. Generally, American mid- size businesses are far less familiar with international markets and cultures than international mid-size companies are with the US.
Cold Hard Fact #4 – Global competition will turn up the heat domestically. As domestic companies in the mid-market adapt to global competitors the domestic companies will become increasingly more competitive in their local markets.
So what do you do to protect your turf, to keep your product line from becoming commoditized.
My experience has been that companies simply have to change their value propositions. They have to redefine what they stand for and how they deliver unique value. In short, they have to reinvent their brands. Even single practitioners stand to win big or lose big, depending on whether they embrace or turn their backs on the “flattening” of our world. By thinking globally about your business and about your brand you can do more than survive globalization. You can thrive in it.
Here’s what’s been working for our clients.
Stand for one thing.
Stand for one thing, make it unique, make it simple, and you make it easier not only for regional prospects to find you, but global ones as well. If you’re struggling to define your unique value on a regional, national or industry-specific basis, how can you possibly do so globally?
Shift from order-taker to solutions provider.
Small and mid-sized companies can no longer sit back and expect the phone to ring with the next order. Build your brand around solutions, taking a proactive stance. Don’t wait for the market to drive you. Effectively competing on the global stage means you drive the market.
Expand your view to one that is global.
When you embrace globalization, you quickly realize that it’s less of a threat and more of an opportunity. Think of your business brand not in terms of what the region or industry might think of you, but what you want the WORLD to think of you. Start looking at overseas competition. See what they’re doing from a marketing standpoint. Learn and watch them, because they are certainly watching you.
Competition is competition.
It doesn’t matter if it’s down the street or on another continent. Size up your overseas competition in the same manner you would size up your domestic competition. Remember, don’t just look at what they’re doing wrong. Look at what they’re doing right. Only then can you put your brand in a position to best them.
Remember, with challenge and adversity comes opportunity. Embrace globalization instead of hiding or dismissing it, and you may do more than flourish. You may take a leadership position in this new competitive environment.
Branding The Competitive Edge in a Flattening World - To learn more about this author, visit Ed Delia's Website.
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With global connectivity a part of everyday life, and online collaboration taking hold, even the smallest company or individual can compete for business virtually anywhere in the world. And we will continue to see global competitors delivering high-quality, low-cost products to our front door, and we will see more services being sent offshore.
In his article titled “Globalization and the Death of the Mid-sized Company,” Leamon A. Crooms III cites the “Cold Hard Facts”:
Cold Hard Fact #1 - Global competitors play by different rules set in their own geographical regions. So not only do many of them have lower labor costs, but they also have fewer government controls, giving them an additional cost advantage.
Cold Hard Fact #2 – In the future you will have less time to react to your competitors. Geographic distribution makes it harder to keep your eye on the global competitor. If they are test marketing a new product, then you may never know until it shows up in your back yard.
Cold Hard Fact #3 – They know more about you than you know about them. Generally, American mid- size businesses are far less familiar with international markets and cultures than international mid-size companies are with the US.
Cold Hard Fact #4 – Global competition will turn up the heat domestically. As domestic companies in the mid-market adapt to global competitors the domestic companies will become increasingly more competitive in their local markets.
So what do you do to protect your turf, to keep your product line from becoming commoditized.
My experience has been that companies simply have to change their value propositions. They have to redefine what they stand for and how they deliver unique value. In short, they have to reinvent their brands. Even single practitioners stand to win big or lose big, depending on whether they embrace or turn their backs on the “flattening” of our world. By thinking globally about your business and about your brand you can do more than survive globalization. You can thrive in it.
Here’s what’s been working for our clients.
Stand for one thing.
Stand for one thing, make it unique, make it simple, and you make it easier not only for regional prospects to find you, but global ones as well. If you’re struggling to define your unique value on a regional, national or industry-specific basis, how can you possibly do so globally?
Shift from order-taker to solutions provider.
Small and mid-sized companies can no longer sit back and expect the phone to ring with the next order. Build your brand around solutions, taking a proactive stance. Don’t wait for the market to drive you. Effectively competing on the global stage means you drive the market.
Expand your view to one that is global.
When you embrace globalization, you quickly realize that it’s less of a threat and more of an opportunity. Think of your business brand not in terms of what the region or industry might think of you, but what you want the WORLD to think of you. Start looking at overseas competition. See what they’re doing from a marketing standpoint. Learn and watch them, because they are certainly watching you.
Competition is competition.
It doesn’t matter if it’s down the street or on another continent. Size up your overseas competition in the same manner you would size up your domestic competition. Remember, don’t just look at what they’re doing wrong. Look at what they’re doing right. Only then can you put your brand in a position to best them.
Remember, with challenge and adversity comes opportunity. Embrace globalization instead of hiding or dismissing it, and you may do more than flourish. You may take a leadership position in this new competitive environment.
Branding The Competitive Edge in a Flattening World - To learn more about this author, visit Ed Delia's Website.
Like this article? Share it with your friends
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