One of the biggest mistakes I have seen in startups is the desire to message and brand their unique differentiation instead of messaging around an evolving industry category. A good indicator to startups falling into this trap is if you ever hear “we don’t have any real competition.” You would think that this type of mistake would have been solved by now, but a company’s strong desire to deliver unique value can easily lead them into this trap.
If you are falling into this trap it is absolutely critical that you address it sooner than later. Why? Because today you are no longer finding your customers, they are finding you. Information overload has diminished the effectiveness of traditional mediums of marketing like advertising and direct marketing campaigns. Today, with the growth of importance of social media, more than ever, web content rules. If you are messaging around your unique differentiator instead of standard industry terms, you significantly diminish your chances for customers to find you. (more…)