I've been becoming really interested in how brands compete with each other, lately I've been thinking about how as an end consumer, we make subconscious decisions on whether to buy something or not. As fastlaners when we are out in the world we should always be looking at how brands are interacting with their customers.
See the Mcdonalds sign at the bus stop? Hmmm, maybe on the way home we can stop by a McDonalds, I haven't ate for the past few hours!
Boom, customer acquired and you have a sale.
Recently some of my weekly purchases have included Redbull, a brand that's absolutely fascinating to me, I don't watch or follow their instagram page, or facebook, or anything actually. I have no involvement with them at all during my ''online life''.
What does that mean for us as fastlaners? Are you building a business that is just online? Do real people, in the real world interact with your brand or product? Some thought provoking questions that popped up in my head when I was at the store today.
So me wanting a quick snack I popped by the local grocery store on foot, a nice quick walk in, thinking I'll just go in and out. But I saw something new, well... I've seen it a few times at other locations but today I thought of trying it out, why not?
I tried a different energy drink! Ok so? Who cares..
Well here's my point I'm trying to make, how does this new brand, convince me to purchase their brand instead of Redbull? As fastlaners, we need to understand our subconscious mind, exploring why we make purchasing decisions, for me, I just love the color blue, the Redbull cans are beautifully designed and for some reason I'm just compelled to buy them. The other energy drink? Just a flat color, boring, uninspiring.
Another thing to consider what is their expansion plan? How are they going to outsell Redbull? Can they monopolize the market? What's the marketing strategy? I looked into the competitors online presence and they are poking jokes at Redbull, posting pictures of the product, and getting out in grocery stores doing free samples to customers.
Are they going about how they are trying to expand correctly? Who knows, I'm not an expert. But lets get one thing straight, REDBULL is kicking their a$$ into the ground right now, if you goto the store you'll see dozens and dozens of Redbulls around, I think a big part of their sucess is the same strategy Mcdonalds & Starbucks took, BE EVERYWHERE, ALL THE TIME.
Do the two owners of the product really have a different product? Sure just a bit, the flavor was a little bit less sugary, more fizzy. I think it might of even tasted a little bit better!?
One thing is for certain.
BOTH creators of RedBull & brand Y............ THINK
Yes THINK, completely differently on how to grow a brand/expand business. 100% FACTS, the methods they use differ.
Brand Y is getting smoked right now, absolutely slaughtered. I can't seem to find exact numbers but Redbull, Monster, Nos and perhaps a few others are killing them aswell.
So, as fastlaners, with our own business's we need to think, how can we compete with other brands?
Here's a fun little exercise you can do, If you had product Y, how would you beat Redbull? Just some thought provoking questions I wanted to share with everyone. Relate it to YOUR business, maybe you are thinking about acquiring customers, marketing and sales all wrong!
Have a great day!
See the Mcdonalds sign at the bus stop? Hmmm, maybe on the way home we can stop by a McDonalds, I haven't ate for the past few hours!
Boom, customer acquired and you have a sale.
Recently some of my weekly purchases have included Redbull, a brand that's absolutely fascinating to me, I don't watch or follow their instagram page, or facebook, or anything actually. I have no involvement with them at all during my ''online life''.
What does that mean for us as fastlaners? Are you building a business that is just online? Do real people, in the real world interact with your brand or product? Some thought provoking questions that popped up in my head when I was at the store today.
So me wanting a quick snack I popped by the local grocery store on foot, a nice quick walk in, thinking I'll just go in and out. But I saw something new, well... I've seen it a few times at other locations but today I thought of trying it out, why not?
I tried a different energy drink! Ok so? Who cares..
Well here's my point I'm trying to make, how does this new brand, convince me to purchase their brand instead of Redbull? As fastlaners, we need to understand our subconscious mind, exploring why we make purchasing decisions, for me, I just love the color blue, the Redbull cans are beautifully designed and for some reason I'm just compelled to buy them. The other energy drink? Just a flat color, boring, uninspiring.
Another thing to consider what is their expansion plan? How are they going to outsell Redbull? Can they monopolize the market? What's the marketing strategy? I looked into the competitors online presence and they are poking jokes at Redbull, posting pictures of the product, and getting out in grocery stores doing free samples to customers.
Are they going about how they are trying to expand correctly? Who knows, I'm not an expert. But lets get one thing straight, REDBULL is kicking their a$$ into the ground right now, if you goto the store you'll see dozens and dozens of Redbulls around, I think a big part of their sucess is the same strategy Mcdonalds & Starbucks took, BE EVERYWHERE, ALL THE TIME.
Do the two owners of the product really have a different product? Sure just a bit, the flavor was a little bit less sugary, more fizzy. I think it might of even tasted a little bit better!?
One thing is for certain.
BOTH creators of RedBull & brand Y............ THINK
Yes THINK, completely differently on how to grow a brand/expand business. 100% FACTS, the methods they use differ.
Brand Y is getting smoked right now, absolutely slaughtered. I can't seem to find exact numbers but Redbull, Monster, Nos and perhaps a few others are killing them aswell.
So, as fastlaners, with our own business's we need to think, how can we compete with other brands?
Here's a fun little exercise you can do, If you had product Y, how would you beat Redbull? Just some thought provoking questions I wanted to share with everyone. Relate it to YOUR business, maybe you are thinking about acquiring customers, marketing and sales all wrong!
Have a great day!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
