

The biggest competitor to your digital service? The Mars Bar.
source link: https://shkspr.mobi/blog/2020/12/the-biggest-competitor-to-your-digital-service-the-mars-bar/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

This post has been languishing in my drafts folder for about a decade. It has recently become relevant again.
When I was at Vodafone, selling ringtones was our top priority. They cost almost nothing to produce, supply, and market. Yet people would pay through the nose for them. I say people. I mean kids.
We saw a huge spike in purchases just as schools finished for the day. While we didn’t exactly market directly to kids, we knew that they were buying.
Way back then, marketing high-price, low-friction goods to under 18s was seen as perfectly acceptable. Ringtones weren’t an addictive drug. They weren’t as pointless and dangerous as loot-boxes. While some people got scammed into subscriptions, most people seemed to genuinely like having a different 25-second-long clip of a popular song every day.
One of the marketing gurus we had on staff came to talk to us about promotion.
“Who is our biggest competitor?” she asked.
We listed off the other mobile operators, the third party ringtone providers, the nascent app stores.
“No.” She said. “We are in direct competition with Mars, Nestle, and Coca-Cola! Every time a kid has 25p to spare, they have a choice. They can choose to buy a chocolate bar, or they can choose to buy a ringtone. Our job is to encourage them to buy digital goods, rather than sugary treats.”
The way she made it sound – it was almost like we were doing these kids a favour by saving them from a life of tooth-decay and diabetes!
Nowadays, most adverts for subscription services have a line about how their product “costs less than a posh coffee!” That’s their competitor – your disposable income.
It’s the same for most services. You’re not competing against the other players in your industry. You’re fighting for attention with Minecraft and Mario. There are only 24 hours in the day – who does the customer choose to spend it with?
But, perhaps more than that, your biggest competitor is the desire by your users to preserve their last bar of battery life.
Recommend
-
6
How to Do Competitor Analysis in Digital Marketing [2021]Many companies start competitor analysis when they develop a digital marketing strategy and never get back to it later. This is an oversight, because in many cases a timely update on yo...
-
10
The Single Biggest Reason Why Your Digital Product Might Fail I suddenly woke up sweating in my bed. It was a sunny, but cold winter morning. The light peacefully illuminated my room through the wi...
-
10
Tokenized’s new API tools make it ‘a serious competitor to Banking-as-a-Service solutions’ Tech 5 A...
-
10
Competitor Analysis: How to Do It and Why You Should Care Do like every great coach does, and get to know the tactics of the other team before getting into the match. Adjust tactics and figu...
-
11
Staying aware of your competition is a good practice for any kind of business. A competitor keyword analysis is one way you can gain insight into their digital strategy, so you can anticipate or incorporate their next moves. What is...
-
10
-
4
Your main competitor probably isn’t who you think it isNever ignore the power of the status quo.
-
4
Tesla’s biggest Cybertruck competitor just rolled out the biggest IPO this year Rivian shows the future of truck investment is all-elect...
-
12
What you need to know:Amazon has launched a beta of its new social app, Amp.Amp includes millions of licensed songs so users can act as radio hosts and DJs.Amazon has partnered with several music artists to hos...
-
9
Banks Team To Create Digital Payment Wallet Competitor To Apple Pay And PayPal
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK