Who you're ACTUALLY competing with
Stop studying your competitors. Study your customers instead.
When I ran a music school, I thought my competition was other music schools.
I'd check what courses they launched. What events they were organizing. How much they charged for their classes.
Competitor analysis, right?
Then I read something from Netflix's boss that changed how I saw marketing.
Netflix's biggest competitor isn't HBO or Disney. It's sleep.
Wow.
In a shareholder letter, Reed Hastings said they lose to Fortnite more than they lose to HBO.
When you're focused on your competitors, your pitch becomes, "We do all the bad things they do, better!" But your customer isn't always comparing you with your competitors. They're weighing everything else in their life that demands their time and effort.
- Your ad doesn't lose to another ad. It loses to the next thing in their feed.
- Your email doesn't lose to a better email. It loses to an urgent WhatsApp from their boss.
What you're really competing with: Netflix, games, doomscrolling, YouTube...
So stop asking, "How are we better than our competitor?"
Ask, "Why should someone pay attention to this?"
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