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Too loud to fail: The future of competition

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Too loud to fail: The future of competition

In today's competitive marketplace, non-media based companies must focus on becoming media-centric, using content to grab customers' attention and hold it 24/7.

Selling a product has become both easier and harder than ever before.

On one hand, the cost to launch a business and create a product has greatly decreased with the ability to leverage channels

that may not necessarily require capital such as organic social media content.

On the other hand, there are more products and companies than ever before.

Throughout history, companies have competed on a variety of different points, starting with price and eventually moving onto product features.

Nowadays, almost every product is replicable if given enough time and funds which makes features a shallower competitive moat.

Someone out there will eventually make something that works better, faster, and stronger than what you have to offer.

Nowadays, competition seems to be more heavily based on marketing.

In the early days of social media, if you shifted from print and out of home style marketing to digital marketing,

you were accessing potential customers better than your competitors who weren’t doing the same. It was cheaper too.

Now, every form of marketing is table-stakes.

You have to use digital marketing.

You have to start doing collaborations with influencers and celebrities.

You have to attempt guerrilla style marketing campaigns.

You may even have to still advertise on TV.

Whatever your competitors are doing, you will have to do it too.

So how can I win?

More and more companies are turning to content generation as a way to grab potential customers’ attention.

The battle that must be won daily is a war of attention, which can be in the form of images, videos, podcasts, and more.

But when you start to think about what and how you want to create, you quickly realize that making a single blog post is not enough.

How are people going to experience it?

If they experience it, what else would they want to learn more about?

What other ways do they want to be entertained?

How often should they be entertained? The questions run endless but the trajectory is:

“How does my company, which sells a particular service or product, become a media company that can hold the attention of its audience 24/7?”

This may seem like a tall order, but the companies that figure this out and make it sustainable will be the companies that survive.

Of course there are always special cases to everything. But our belief is that this is where the competitive landscape for nearly all industries is going.

And it isn’t just bound to the B2C space.

We hope to share more content to help support companies that are trying to plan for this.

In a competitive marketplace where almost every product is replicable and competitors are doing all the forms of marketing, winning requires companies to focus on becoming a media company.

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