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According to Inc., the strategic secret behind the best new companies is not simply innovation or even disruption – it’s a discipline called category design, the act of dominating a niche. Today’s category kings are companies like Salesforce.com, Uber, Google, Facebook, Amazon.com, and Apple with its iPhone and iPad. Historic category kings include Kodak, Xerox, and Coca-Cola. With these names, your business can be a category king regardless of its niche or industry. In this article, I will teach you how to make your business a category king that dominates its niche.
Understand The Dynamics Of Your Niche.
Build A Strong Story Around Your Product.
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One of the stories Steve Jobs sold about Apple Inc. is that it is the device of the future. With this story, customers began to see Apple Inc. as the most innovative company in the mobile device and appliances industry. To build a strong story around your product, you will need to formulate a powerful point of view–or POV–about the category. This is when you shift the entire niche to the direction of your story or make the industry about your brand story.
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To become dominant, you must create loud and surprising entries meant to grab the market’s attention and create an impression that your company is doing something important. You simply have to generate “lightning strikes” that draws attention to your brand. For example, you might host stand-alone events, hijack an existing industry conference, or a blow-out product launch. You can carry out radical campaigns and alarming ads that include celebrities and launch several promotional events.
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