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Lessons Taught By Genghis Khan And Mother Teresa For Today's Marketers
To say that there is fierce competition in the business space would be an understatement. We are well aware of this fact. The way ahead is to face the competition and strategize to beat it. Beating the competition is no doubt a challenge but it is not impossible to make a place for your brand in your consumers’ eyes. You can take a leaf out of the book of Genghis Khan as to how he strategized to win wars or Mother Teresa as to how she won hearts!
Amazon, which is undoubtedly one of the most powerful brands of our times is now heading to Australia to spread its kingdom Down Under. While this definitely is an imminent threat to the existing brands in Australia, they can take lessons from Genghis Khan and Mother Teresa to beat Amazon in Australia!
How the strategies of Genghis Khan and Mother Teresa can be used to beat Amazon in Australia?
Let us, first of all, take a look at Genghis Khan’s methods and how they can be leveraged:
Genghis Khan’s approach was to study the methods of his competitors and perform them better.
This can be a great management tip to businesses. One of the basic steps while preparing a business strategy is competitor analysis. The success of the organization depends largely on how they well they analyze their competitors. They need to find out each and every aspect of their competitors and analyze the reasons for their success and see how best these methods can be implemented in their own business. This definitely does not imply that they simply emulate their competitors. They need to develop a unique strategy that has their own innovative methodologies while bettering their competitors on aspects they are good at. Dwelling on the Amazon in Australia case, businesses in Australia need to understand their distribution model and see how best they can implement it. The benefit that the Australian companies have is that of the local knowledge. Amazon has an exemplary distribution network, but you can proactively establish a better distribution network leveraging the knowledge of the local market.
Now let’s see how we can learn something from a character in history who had no connection to strategy or business in any way-Mother Teresa!
When we think of Mother Teresa, the thoughts that cross our mind are love, compassion, attention, etc. Well! It is these aspects that have to be included in a marketing strategy today to connect with an audience.
The market has evolved from being product-centric to customer-centric. As a result, all marketing strategies are focused on the customer. It is vital to understand the customer before initiating a marketing strategy. And, the strategy developed needs to be customized for the audience. The era of generic marketing strategies where “one size fits all” approach was used is over now.
Just like Mother Teresa you need to love and support your customer, you need to become a specialist!
This can be your strength when you compare it with a giant like Amazon! Amazon operates on a large scale, they can only be generalists but definitely connecting with their audience on a personal level will be difficult for them.
It is interesting to note that however big your competitor, a careful analysis reveals that you have strengths that you can leverage against your competitor. This comes from a fact that irrespective of how big a brand is, it has its weaknesses. It is up to you to analyze those shortcomings and capitalize on them to have a competitive edge.
Coming back to the case of Amazon entering the Australian market, let’s summarize the strengths that the local brands have over Amazon:
The brands based in Australia have an in-depth knowledge of the local market and the infrastructure facilities, etc. Therefore, they can build a better distribution network.
Better Understanding of Audience
The Australian brands have been catering to the local market for a much longer period than Amazon. Therefore, they definitely know their audience better and can offer them a personalized experience.
The next step would be to create a marketing strategy that not only engages but also converts your audience. You can do this by:
Addressing the pain-points of your customers so that they feel special.
Connect with them through social media channels.
Share content about your products and services on a regularly.
There are many characters in history who have made a mark for themselves through certain techniques that they adopted. Although we may think the ways of history are old school, the fact remains, every successful individual in history has left us a lesson to learn and emulate. The onus is on us how we perceive these characters. For instance, who would have thought the ways of Genghis Khan and Mother Teresa could guide businesses in Australia to face Amazon!
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