Some brands win by ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ข๐๐ฒ๐ข๐ง๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐๐ซ๐ฌโ ๐ฅ๐ข๐ฏ๐๐ฌ. Think about Square. Small businesses had to go through a lot of hassle to accept credit card payments. And dealing with bureaucratic banks is the last thing a business owner wants. So Square simplified things by turning phones into payment terminals with a gadget. And they became a $40b+ company. Simple problem. Simple solution. Simple brand. Hereโs another example. I saw an ad the other day. A company is selling multivitamins to help people recover from rave parties. Do you know the name of the brand? ๐๐๐ฉ๐ฉ๐ฒ ๐๐ฎ๐๐ฌ๐๐๐ฒ๐ฌ. Their motto was simple: โ๐ ๐๐ฃ๐ โ๐๐๐. ๐ ๐๐๐๐ฃ๐๐ ๐๐๐ ๐ก.โ Now, you can buy vitamins from any pharmacy or supermarket. But if you go to festivals to dance for days, you donโt know what exactly your body needs to feel better the next day. Even if you know it, you donโt want to buy 5 different vitamin packages. So Happy Tuesdays simplified it for ravers. Simple promise. Simple brand. And of course, they can sell it at ๐๐๐ price compared with other vitamins. Because you canโt compare it to anything else. The moral of the story? Look for opportunities to take the complexity away from the customers. Itโs a great way to build a winning brand. Remember โ itโs not about offering everything. Itโs about becoming known for ๐จ๐ง๐ ๐ญ๐ก๐ข๐ง๐ .
Positioning at its finest.
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1moThis is a powerful lesson here. Find the right problem for the right people, and they won't be able to compare it to anything else. Why not Happy Mondays though?