are you a challenger brand?
DESCRIPTION
How to tell if your brand is ready to take on the market.TRANSCRIPT
1
Are You a Challenger Brand?
How to Tell if Your Brand is Readyto Take on the Market
2
How to Tell if You’re a Challenger Brand
Do any of these characteristics fit you or your organization? Aggressive/Determined Possessed with Intensity/Confidence Maverick/Risk-Takers/Bold Intrusive & Unapologetic Self-Aware Thought Leader In a Hurry Evokes Emotions Keen to Fund Marketing and Public Relations Efforts to Move Your Brand
Ahead
Source: Eating the Big Fish, Adam Morgan, 2009
If you’ve checked offat least 50% of this list,
chances are you are(or work for)
a Challenger Brand!
3
Describing the Challenger Brand Mentality• Challenger Brands share these attributes:– State of Market: They’re not the #1 brand and not a niche
player– State of Mind: They have ambitions that exceed their
conventional marketing resources– Rate of Success: They are succeeding, not merely ambitious or
arrogant• Challenger Brands understand that:– The market leader is already top of mind.– They can’t outspend the leader. The best chance they have to
gain share is by being the mindshare leader.– To win mindshare takes thought leadership.
Source: Eating the Big Fish, Adam Morgan, 2009
4
The 8 Credos of Successful Challenger Brands
1. Intelligent Naivety2. Lighthouse Identity3. Thought Leadership4. Symbols of Re-Evaluation5. Sacrifice6. Over commitment7. Communications, Publicity and Social Culture8. Become Idea-Centered, Not Consumer-Centered
Source: Eating the Big Fish, Adam Morgan, 2009
5
#1 – Intelligent Naivety • Challenger Brands intentionally divorce themselves from
their assumptions about the category in which they compete• It is imperative for Challenger Brands to find a new
criterion for defining value in the category
Source: Eating the Big Fish, Adam Morgan, 2009
6
#1 – Intelligent Naivety (cont.)• Challenger brands typically reject:– Some fundamental dimension or driver of the category– Some aspect of the way the consumer shops for or experiences
their product– The culture surrounding their category– Some broader aspect of contemporary culture– Some dimension or quality of the Market Leader
Source: Eating the Big Fish, Adam Morgan, 2009
7
#2 – Lighthouse Identity• Challenger Brands develop a very clear sense of who they
are and what they stand for…and then project that identity so intensely that the consumer is forced to notice them• These “Lighthouse” brands proudly tell consumers where
they stand in strong, emotional terms• Challenger Brands over-engineer their products, offering
the consumer dramatically superior performance on some dimension (e.g. price, durability)• A Lighthouse Identity defines not only the brand but also
what business the brand is really in
Source: Eating the Big Fish, Adam Morgan, 2009
8
#3 – Thought Leadership• Thought leaders challenge one of the conventions that
surround their category:
• They must educate consumers to think that there is a whole new criterion for choice in the market other than those established by the Market Leader
Source: Eating the Big Fish, Adam Morgan, 2009
9
#4 – Symbols of Re-Evaluation• Challenger Brands are in a hurry! They must act swiftly
and powerfully to puncture the consumer’s autopilot and create re-apprasial of themselves.• Bold, impactful acts or marketing ideas
capture the indifferent consumer’simagination and bring about rapidre-evaluation of their role in theconsumer’s life• Startling juxtapositions that prompt consumers to sit up
and rethink some of their assumptions
Source: Eating the Big Fish, Adam Morgan, 2009
10
#5 - Sacrifice• Challenger Brands make sacrifices that stand out because
they are single-minded• All secondary and tertiary targets are sacrificed in favor of
their one strategy; these actions or behaviors will often leave other challengers behind
Source: Eating the Big Fish, Adam Morgan, 2009
11
#6 – Over commitment• Challenger Brands over commit because they have to.• Their decision to sacrifice makes success in their one
chose area imperative.• Challenger Brands think about barriers and actively
remove them before they occur.
Source: Eating the Big Fish, Adam Morgan, 2009
12
#7 – Communications, Publicity & Social Culture
• Challenger Brands leverage communication, bold advertising and publicity to appeal to consumers’ broader social needs.• Challengers enjoy strong folklore— either
at an iconic level through the brand’sadvertising & marketing, or as a referencein popular culture and word of mouth.• Social salience allows a Challenger Brand
to punch above its media weight.
Source: Eating the Big Fish, Adam Morgan, 2009
13
#8 – Become Idea-Centered, Not Consumer-Centered
• Challengers maintain momentum because it returns sales and revenues and gives the perception the Challenger is making a run in the category• Challenger Brands can never afford to be static!
Source: Eating the Big Fish, Adam Morgan, 2009
14
What’s Next?
Do you think you’re a Challenger Brand?
Hire the experienced digital agencythat understands your unique position.
Call us at (410) 942-0488,or email [email protected]