Competitors and Their Brand
Most people will tell you that innovation is certainly the main ingredient in the recipe for success, particularly in brand design. They are absolutely right: being innovative and coming up with new ideas is definitely very important. However, smart businesspeople always look around. Unless you’ve been living under a rock for the past few decades, you probably already realize that there are many, many people trying to succeed, just like you and me. Some of them might be doing a terrible job, while others might be doing much better. It is essential to look over your shoulder or even behind you. Understand what people are doing, for better or worse.
[blockquote blockquote_style=”border-side” color=”#8d959d” font=”serif” font_style=”s-normal” font_size=”22″]…never underestimate the value of looking at people you think aren’t exactly great examples to follow.[/blockquote]
You can learn so much from your competitors, whether they are more successful than you or not. For instance, you could look up to leaders in your industry and follow their example or discover how you can enhance your products or services. The same applies to design excellence: you can learn a valuable lesson from successful competitors and gradually understand why their brand works wonders for them. In much the same way, never underestimate the value of looking at people you think aren’t exactly great examples to follow: you can learn so much from “bad examples” and avoid making the same mistakes these businesses have made.
Piece of cake, right? Nope, it’s not as easy as you might think! Studying your competitors does not mean copying their every move…that’ll take you nowhere! Instead, use that valuable lesson to improve your brand and come up with better advertising and promotion strategies that fit your business model. It is also important to look at how people react to your competitor’s mistakes or perks. Just to give you an example, it has been estimated that 39% of people will stop engaging with a website if images won’t load or take too long to load.(Adobe) Over 38% of viewers would simply stop interacting with a website that they don’t really find aesthetically attractive. (Adobe)
The key is in the mindset: don’t become obsessed with beating your competitors: strive to keep improving your brand and make it the best it can be!