Everyone loves a winner. It is a recognized fact that market leaders benefit from customers choosing them by default over weaker rivals. “They must be Number One for a reason right?”
So what do you do if you are not the leader?
Find something you are a leader in! If you drill deeply enough, and look at different ways to segment the market, even the smallest company can find somewhere they are number one. Are we Number one in this product-type? In this region? With this customer? A sub-segment of all three?
This approach works at an individual level too. Everyone in your business can be Number 1 somewhere in their area, whether the person is a brand manager, regional sales director or key account manager. Your customers can know they are buying from a leader and your employees can feel like leaders.
In addition to the confidence this brings, there is an important message everywhere you find you are Number 1. At every level, you can ask “why are we a leader here?” It has not happened by accident – you must have differentiated from the competition in some way. Understanding why may point out new customer value you have not been aware of before, enabling you to sharpen your strategy and extend your leadership into broader and broader areas.