Leader As a Challenger !
Its been a while , thought off penning this down for ages , however the "will do later " feeling always was over bearing :) Here we go however ::
So when one walks into a strong leadership market , one has the following choices , continue slow growth which might be happening , defend against attacks or go for accelerated growth , go for bust against the attackers ,there by set a new wave of growth !
Here is an account off the approach taken to set the new wave of growth .
Start Listening to your Partners /Trade /last mile warriors-- ACT
common feedback was that there was no connect with brand and trade , high handiness and frequent changes in policies was a given , this was not a great a situation to be in , and had to change , we must have done atleast 150 or more trade , distributors and last mile warriors( salesmen) meets for recognition , feedbacks etc in the past 2 years , trying to build back confidence , slowly .
Pricing was perceived to be premium -- PLAY PRICING SMARTLY
this was tricky , dropping pricing was the easiest route to take , with business impact , however taking challengers head on in terms of pricing in certain markets , and positioning one as a value giver in other markets , was the route route taken , so play it differently in different markets , and play it smartly
Correct your execution Gaps -- FIX IT
look at all gaps in the markets that became obvious playground for brands competing with you , as a leader , u cant afford to have these luxury of gaps , if you want to grow faster and out beat them , we discovered that market coverage vis a vis competitors was not optimal , we had distance issues , we had not necessary outlets selling our products , distribution of products was relatively weaker than competitors , we needed partners who were hungrier for business , wherever we thought trade response was not changing , we went direct and created our own channels too ---- planning and going behind fixing these gaps was the single biggest impact creator on ground
Delayer your market performance -GO AFTER THE OUTLIERS
if you are doing well , its easy to get complacent , the next opportunities for growth can come from the outlier correction , so dont go by the averages , go AFTER the outliers and see the impact happen
Be a lot more Visible -- BE PRESENT EVERYWHERE
as a leadership brand , its easy to take the pretext off , why spend etc and not needed to be visible route on ground , this again is a sure shot way off giving space to other brands , don't give an inch , if you are the leadership brand , do dominate the share off visibility
Get a team who started believing in Behave like Challenger Mantra -- ITS NOT EASY --WILL TAKE TIME
finally we needed a team which believed in the Mantra that we are Challenger in a leadership markets and have to go out and fight every day to Win , this was a slow burn , it had heart burns , tiffs , fights , celebrations , the best motivation for any team is WINNING , and once the wins started pouring in the beliefs became more stronger . getting the right people for right markets and give them right directions by leading from front , take care of them when needed .was the ways of getting the people part right
Getting the above acts right , and believing the fact that you were doing the right things , sometimes with hard messaging , all led to MAGIC happening , glad that the MAGIC continues , still , challenger brands are struggling big time and the growth rates are much much accelerated for the leadership brand , it can only get better , if the mindset continues as a challenger brand !
Learning from this experience --in a strong leadership market , if you want to sky rocket growth , behave like a Challenger brand by doing most of the above mentioned points and sticking to basics , and start with the assumption -- don't give any space to any other player !
So when one walks into a strong leadership market , one has the following choices , continue slow growth which might be happening , defend against attacks or go for accelerated growth , go for bust against the attackers ,there by set a new wave of growth !
Here is an account off the approach taken to set the new wave of growth .
Start Listening to your Partners /Trade /last mile warriors-- ACT
common feedback was that there was no connect with brand and trade , high handiness and frequent changes in policies was a given , this was not a great a situation to be in , and had to change , we must have done atleast 150 or more trade , distributors and last mile warriors( salesmen) meets for recognition , feedbacks etc in the past 2 years , trying to build back confidence , slowly .
Pricing was perceived to be premium -- PLAY PRICING SMARTLY
this was tricky , dropping pricing was the easiest route to take , with business impact , however taking challengers head on in terms of pricing in certain markets , and positioning one as a value giver in other markets , was the route route taken , so play it differently in different markets , and play it smartly
Correct your execution Gaps -- FIX IT
look at all gaps in the markets that became obvious playground for brands competing with you , as a leader , u cant afford to have these luxury of gaps , if you want to grow faster and out beat them , we discovered that market coverage vis a vis competitors was not optimal , we had distance issues , we had not necessary outlets selling our products , distribution of products was relatively weaker than competitors , we needed partners who were hungrier for business , wherever we thought trade response was not changing , we went direct and created our own channels too ---- planning and going behind fixing these gaps was the single biggest impact creator on ground
Delayer your market performance -GO AFTER THE OUTLIERS
if you are doing well , its easy to get complacent , the next opportunities for growth can come from the outlier correction , so dont go by the averages , go AFTER the outliers and see the impact happen
Be a lot more Visible -- BE PRESENT EVERYWHERE
as a leadership brand , its easy to take the pretext off , why spend etc and not needed to be visible route on ground , this again is a sure shot way off giving space to other brands , don't give an inch , if you are the leadership brand , do dominate the share off visibility
Get a team who started believing in Behave like Challenger Mantra -- ITS NOT EASY --WILL TAKE TIME
finally we needed a team which believed in the Mantra that we are Challenger in a leadership markets and have to go out and fight every day to Win , this was a slow burn , it had heart burns , tiffs , fights , celebrations , the best motivation for any team is WINNING , and once the wins started pouring in the beliefs became more stronger . getting the right people for right markets and give them right directions by leading from front , take care of them when needed .was the ways of getting the people part right
Getting the above acts right , and believing the fact that you were doing the right things , sometimes with hard messaging , all led to MAGIC happening , glad that the MAGIC continues , still , challenger brands are struggling big time and the growth rates are much much accelerated for the leadership brand , it can only get better , if the mindset continues as a challenger brand !
Learning from this experience --in a strong leadership market , if you want to sky rocket growth , behave like a Challenger brand by doing most of the above mentioned points and sticking to basics , and start with the assumption -- don't give any space to any other player !
Comments
Think like a challenger in a leader ship market is the key for any company to accelerate...
I also believe there are twoore things to be worked up on
A. Innovation in product
As a leader, company would have been best in all aspects but leader should also behave like a leader when it comes to innovation in the product
B. Innovation in process
This would be the key aspect for any company and as a leader to show more revenues, I believe technology advancements in processes is the key