A first-to-market strategy can be a double-edged sword. Extensive time, resources and manpower have been devoted to outside-the-box thinking, creativity and innovation intended to set your company apart and possibly change the course of a category or even our industry. But if we are not careful, our forward momentum can stall out if we rest on our innovation laurels.
No doubt it’s discouraging when competitors follow in your footsteps with similar products and services. It can be easy to begin differentiating yourself as the ‘first to have that idea’ or the ‘first to introduce that technology’, passively attempting to maintain your competitive ranking with a 1st to market title.
Sometimes the 1st place company actually has an obvious competitive edge that continues to elevate them above the pack. But what if they don’t…what if you don’t? What if the competition has figured out a way to match your value or even improve upon your value? If your only competitive positioning is that (truly impressive) 1st to market title, you will soon fall behind in the race.
Outside-the-box-thinking, creativity and innovation will always be churning out there somewhere, in some company. So we must embrace that our success is only as good as our next great idea. Steady and intentional innovation always wins the race. Where do you want to finish in 2018?
DMA Solutions works with many brands to continually define and refine a value position within their competitive space. If you are looking for a strategic marketing partner to help you stay in the race, we would love to sit down and speak with you at Fresh Summit. Learn about our free Fresh Summit consultations here.
