Everyday new products or services are launched wich leaves the consumers with many choices. How, then, do you organise your business strategy to stand out and beat the competition? The answer is not what you think.
Jack Korsten spoke on the topic at Cegos' 2019 Business Transformation Summit. He has extensive senior management experience at multinationals such as L’Oréal, WWF and Endemol and he currently leads a growth acceleration initiative at Fidelidade in Portugal.
The consumerist culture
We live in a world of so much choice. As a result, the problem for consumers is that there is often too much choice, and most products and services in any market are very similar. The only difference is the price explained Jack Korsten. The story behind your strategy is key. Think of dominating competitors in Formula 1 – Red Bull, Ferrari and Mercedes. Each team is constantly trying to oust the others, yet they all operate in a very similar way even if they claim that they are different from each other..
Unexpected competitors
These companies win by observing and copying each other to optimise their performance. You must do the same with your organisation to accelerate growth. However, your competitors may not be in the same industry or even sector. Your main rivals are companies like Google, Amazon and Netflix because these companies determine customer expectations. Those expectations increased over time. Customers are looking for simpler et faster services. Sometimes, you should look in unexpected places for inspiration.
Watch the video to get more tips on growth acceleration from Jack Korsten.
This video is a part of the Business Transformation Summit. If you would like to get more insights on different topics check out the following posts:
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