When talking about dominating your market we need to define it as…The position owned by the advertiser with the greatest share of voice.
Our goal is to dominate a medium.
The bottom-rung loser in one town can move to another town and often become the king of his category. All it takes is weak competitors. I’ve seen it happen a dozen times.
Whether you dominate your marketplace won’t be determined solely by the strength of your advertising, it will be determined partly by the strength of your competitors.
How good are you at what you do?
How good is your competition?
If you cannot dominate all of radio then dominate a single station. If you cannot dominate a whole station, dominate a single day-part on that station. If you cannot dominate all of television, then dominate a single hour of the day. If you cannot dominate an hour, dominate a single TV show. Then when your business has grown, dominate a second and a third show.
There are 4 factors that determine business success. The most important of these factors is competitive environment, this is the factor most often ignored. I suppose that business owners feel they can do nothing about it, so they ignore their competitors.
But their customers don’t.
The ability to measure your strength objectively and compare it to the strength of your competitors is essential to strategic planning. There are four factors that govern business success.
In order of importance they are:
1. Competitive Environment (Strength of competitors)
2. Business Model (Strategy. The creation of customer expectations.)
3. Operational Execution (Delivery of what was promised to the customer.)
4. Message Development (Total business communication, including ad writing, décor, media planning, web design etc.)
The key to media dominance is relentless repetition.
“There is more money wasted in advertising by under spending than by over spending. Under spending is advertising is like buying a ticket half way to Europe.”