What are other businesses like mine doing for direct mail?
It’s a question that comes up often when meeting with new clients. And, fair enough, competitive analysis and awareness is important whether you are talking business strategy or direct marketing tactics. But, since it’s typically done early on in the planning process, the focus on competitors can often have a disproportionate influence over creative and / or strategic direction, even to the point of stifling innovation. Which is why, in my opinion, a question that doesn’t get explored often enough is “what aren’t my competitor’s doing?”
You could create more than a direct mail campaign from the answer – you could run your business around it.
Start with the Customer
Since it’s your customers that purchase your product or service, why not start there and innovate from the customer’s POV? In other words, once you’ve answered the question of what your competitors are doing then ask yourself what your customers need. What problems can you solve that no one else is addressing?
Apple does this extremely well – everything about an Apple product is designed around the customer experience, including the way products are packaged and boxed. Even their distribution channel, the Apple Store, was unique to their industry when they first started. If Apple had looked around and asked “what are my competitor’s doing” then they would not have started opening up retail stores selling only Apple products. Or take, for example, this quote from Steve Jobs:
“We chose a different path. Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets”.
Notice that not-so-subtle train of logic: different path –> great products –> open wallets.
Amen Steve.
Better Value Beats Equal Value
Direct mail can be a great tool for helping you connect with customers – both new and existing. But don’t fall into the trap of looking only to your competitors for inspiration and don’t assume they’ve done their homework – they may also be copying someone else, or worse, they may be stuck in that old death spiral “that’s the way we’ve always done it”. Rather, try to apply your competitor’s best practices in order to ensure you are delivering equal value, while at the same time looking for what they aren’t doing in order differentiate yourself and deliver superior value.
Not only will you set yourself apart, you’ll do so in a way that, as Steve might put it, ensures your customers continue to open their wallets.
