Have you ever checked out how many YouTube “wannabes” came along after the legendary rise of Justin Bieber?
Well, let’s be fair. Some of them are really great, even better than the originals, but seldom actually made it there, not to mention even earned one-tenth of the fame after the international sweetheart turned out to be such a letdown.
I am not saying that there wouldn’t be a second like Justin Bieber; neither am I saying that this Bieber fever thing started out of nothing. It’s just like some product you have seen years ago gone unnoticed then, but popped up huge one day again, and when you check the stuff closer, nothing changed too much.
So what does this tell us? Try to remarket your old product? Ok, I am joking.
This basically tells us, no matter how many similar products there are already on the market, you shouldn’t
Try to compare only in terms of specific perspectives
Presume you share the same target audience as your competitors
Copy what your competitors do, because
Marketing is all about satisfying what people really want, so you don’t need to be the best in technical specs if you are selling moms cell phones; you don’t need to give discount service to the top-tier customers, neither should you burn a lot of money in commercials if your target customers happen to be those business men who watch only finance reports and news.
Learning from the mistakes from your competitors is important, but never ever copy what your competitors do to win the game even when they seem successful in what they have done, because it’s human nature that those first runners always get the advantages. Single out the target audience for your product, talk to them, and cater to what they really care about. That’s the marketing you should invest your time and money in instead of just trying to keep up.