Do you know who your most significant competitor is?

gigcmo
03/05/2022

When we set up gigCMO, we chose to do so in London for one key reason - it’s a place where the world meets! Encompassing more than 270 nationalities and 300 languages, that indicates London's diversity of perspectives among its ranks. 


As Richard Burge, Chief Executive of the London Chamber Of Commerce and Industry recently wrote in City AM

“We have a strong and proud tradition in this city of welcoming, integrating, and supporting refugees. It is in London’s DNA and an integral part of our success as a rich, diverse, and multi-ethnic global city."

gigCMO was established to provide strategic and tactical marketing leadership to scale-ups and SMEs allowing them to harness the knowledge of CMOs and Marketing Directors - people at the top of their game - with years of proven experience across industries, countries and cultures dealing with the challenges of growing a business. Together, we help business leaders and CEOs grow their customer base and their business, increasing value in a way that shows up on the balance sheet. You don't need an industry expert to do that - you already have that within your team - what you need is someone with proven marketing expertise who brings a different perspective. 

Your greatest competitive threat isn't the business right behind you 

You don't need us to tell you that the world of business is evolving at a pace. Globalisation isn't just about greater connectivity. To quote McKinsey, "It's not your father's globalisation anymore". They explained: 

"Our old image of globalisation was one of the container ships moving manufactured goods from far-flung factories to markets around the world. Now a multinational energy giant can monitor production remotely by installing sensors on 4,000 oil wells around the world. A manufacturer in Australia that needs components can find them from a Chinese supplier on Alibaba—or 3D print them from a digital design file transmitted from Europe. Adele can introduce a song on YouTube and sell millions of downloads in a matter of days. The girl in Kenya who logs on for a personalised maths lesson from the California-based Khan Academy is part of the story, too."

The way we think about business growth, development, marketing strategy, and competitors also needs to shift for CEOs. It's no longer about looking at your industry and thinking about where you rank amongst the known leaders; it's about looking at the global picture - across sectors - and understanding where the opportunities are. 

For example, car hire company Avis was famous for being second in the marketplace after Hertz and owned that space with the strapline: "We Try Harder". They always looked to Hertz as their most significant competitor, and as a result, they never saw Uber coming. Equally, in fashion, Shein is a fast-fashion brand from China that is taking over the market. In the first three months of 2022, it accounted for almost a third of fast fashion sales in America, even closing in on Amazon as America's second-most-popular shopping app thanks to a vicious (shameless?) approach to digital marketing.

In short, your competition isn't the person above or below you in your field; it's the disruptor you don't yet know exists. To anticipate that disruptor, you need to think outside the box.

The value of an outside perspective 

What matters in this changing world is a truly global perspective. Until the past 10 years, most new business models emanated from the USA. Today, that's not the case; making a much more diverse, international range of experience is the key to understanding the marketplace in which you're operating. By drawing on different industries rather than just your own and considering the consumer mindset from China to the US you can see where opportunities and challenges lie.

At gigCMO, our team of fractional CMOs is genuinely international, offering a diverse perspective from men and women around the world. We have Fractional CMOs in Europe, America, Canada, China, the UAE, India, and the UK. We have experience living and working in all continents except Antarctica and Australia. The breadth and depth of our support team are equally inclusive.

What does that mean for CEOs and their businesses?

It means we think outside the box because we are outside the box. When we talk to you about your business proposition - it comes from years of experience helping companies do what they do, but better. 

CEOs and their boards are interested in creating shareholder value. Value is created by investing in the business and growing it profitably. A relentless focus on costs is of course important but increasing revenue by increasing the customer base and deepening the relationship is critical.

We subscribe to the true meaning of marketing at a strategic level - business growth. In today's world, that means truly understanding your target audience and where to make the investments that provide the best return. Mass media no longer exists and is rarely a viable medium. Brands are created in a completely different manner.  Customer experience is critical as is leveraging your data. The physical and digital worlds have melded. 

Our playbook will help you achieve success. Industry knowledge is a precious commodity, and that's what you and your team have in abundance - that's why you're doing what you're doing and why you are where you are. Marketing is about the experience, understanding, and a different perspective. That's what we offer.

Get a different perspective to help your business grow.

Find out more about gigCMO's Fractional CMO Services

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