How To Change Entire Industries
There are no shortage of companies that have identified the right market sources for their future growth and subsequently, match their value proposition to win in the market. Here are just a few examples:
Sonos. Bring all your music to every room, wirelessly.
Sonos clearly identified the wired speaker market as a source for growth and designed a value proposition that delivered the first wireless solution to the consumer who loves music. So, if you love to listen to music and are still doing so through a tuner and components system that delivers sound via wired speakers in ceilings and walls, then Sonos is for you.
Dyson Airblade. No more waste, no restocking, and no paper mess.
Dyson identified the commercial restroom paper towel and dispenser market as a source for growth in leveraging their technology to create a revolutionary (better) way to dry hands after washing. If you’ve never used a Dyson Airblade, you’re in for a treat. Not to mention a visit to a clean bathroom with no paper mess.
Uber. Your shortcut to everywhere is arriving now.
As in the case of Dyson and Sonos, Uber was clear about putting a stake in the transportation market as a primary source for growth. Uber improved the overall experience of getting a ride wherever you are and whenever you want – hence the shortcut. You can literally watch your car on your smartphone arriving to pick you up.
Microsoft Surface Pro 3. The tablet that can replace your laptop.
Just another tablet, right? Wrong. The Surface is not aimed at winning market share in the tablet market (that may be a future by-product), instead, Microsoft seeks to source its growth from laptop market. When the original Surface Pro was launched a few years ago, it was quickly lumped into a growing tablet market with Apple and Samsung and did not possess a distinct value proposition or sharp messaging to win in the right market. The recent launch of Surface Pro 3 brings a much sharper value proposition to the marketplace, and consequently, the sales have been much stronger.
The above are 4 examples to provide some illustration and deeper insight to how the market you choose to play in and source future growth ultimately provides clarity in building the right value proposition.
If you put a stake in the right market, it has the power to change everything.
Including entire industries.
If this post resonated and you would like to learn more about how to unleash new growth potential for your business, click for a complementary exploratory session. And, should you have a colleague or friend who you think might benefit from this message, please share with them.
Founder Todd Garreston
With over 15 years of experience leading market share growth initiatives of top consumer brands in Fortune 500 and privately-held business environments, Todd Garretson advises and helps organizations identify new growth potential, craft strategy that moves people to action and enhance overall performance.
Having a passion for helping people and organizations to unlock dormant growth potential, Todd writes and speaks for audiences in three core areas: business growth strategy, leadership and personal / professional growth.
Residing in Atlanta, GA with his wife, Lauri, and their four children, weekends and free time are spent with family, coaching youth sports, and sharing his passion for fitness and nutrition.