All posts by Unknownmale

Definitive and Disruptive

Disruption is one way a brand can stand out in crowded and competitive categories. And it’s never been truer than now that business as usual can stifle business growth.

Calling yourself Lemonade if you are a new insurance company clearly signals difference and may trigger curiosity amongst potential customers to find out more.

But sometimes a fresh approach from a disruptive first mover can become a standard that is quickly copied and diluted by subsequent entrants, and so early advantage can be quickly lost particularly if difference doesn’t have depth.

Just looking different will not be enough. Finding a way to magnify the unique difference your brand brings through multiple touch points is the key, particularly if you can do this in a way that is hard for others to copy without seeming to be pale imitations of your original.  It’s about being definitive as well as disruptive.

So, if you are looking to disrupt and re-define a category or market, here are our top five tips to ensure success.

Have something new to say.
There are many markets that are just crying out for improvement – particularly in fintech where big data, AI, bots, telematics, and other technologies are driving substantial change. But it’s vital to be single minded and have clear and easy to understand focus. Think Oscar whose focus is on making a healthier life accessible and affordable for all – summed up neatly by the phrase ‘as if you’ve got a doctor in your family’.

Find a new way of speaking.
Creating a new language around your brand helps mark it out as different and helps create an affinity with your user – just one of the many things Brewdog excels at – creating a totally new vernacular for beer drinkers that gets its products talked about.

Create a community.
A recent Nielsen/Bulbshare report stated businesses that have customer communities at their core grow 33% faster than their peers. Making people feel they are regarded as individuals but joined to a group of like-minded people – just like Peloton – it encourages engagement and loyalty.

Have a strong purpose.
Disruptor brands are naturally built on improvement so purpose is key – plus younger audiences expect any brand they engage to benefit not only its consumers but the wider world. Think Tesla’s approach which includes opening their patents to the world in addition to its leading the charge (no pun intended) to electric transport, and now, space travel.

Think about the future.
Having a successful brand gives you licence to multiply. So try not to box yourself in when creating your disruptor brand. Metromile offers insurance you pay for by the mile as and when you need it – a great concept and a terrific name- but it’s hard to see how it can extend should it want to in the same way that Uber can.