Everyone thought Eric Ryan and Adam Lowry were crazy to start Method, a new cleaning products company. The category had long been dominated by P&G, Unilever, and Colgate-Palmolive. Those giants had so much clout with the retail chains that their soaps had barely needed updating for decades. But by taking advantage of its underdog position, Method carved out a very profitable environmentally sound products in stylish, innovative packaging. Despite having a far smaller marketing budget than their competitors, Method connected with a substantial minority of people who wanted to "buy green" but who also wanted high-quality products.
Marketing expert Stephen Denny argues that, like Method, any brand can directly challenge the giant of its category and not only survive, but thrive. While it's inconvenient to be the little guy, it can also be a blessing in disguise. Giant- killers can afford to shake things up and take bold steps. They can be faster and nimbler than giants who are too slow and hidebound to make the painful but necessary changes to stay competitive. By the time they notice that slingshot, they're already keeling over.
During his two decades in the trenches, Denny has taken on quite a few giants. And he has interviewed more than seventy other giant-killers across industries- from software to cosmetics to aviation-for their most powerful techniques.
Our need to work smarter, with fewer resources, isn't dependent on the state of the economy or on any sense of stability you think you have in your industry. Denny's ten powerful strategies will help you overcome stale business thinking and bureaucracy. They
?Win in the last three feet. Leverage someone else's investment-just be there the moment the customer grabs their wallet. ?Create "thin ice" arguments. Shift the conversation to places where the competition can't-or won't-go. ?Fight unfairly. Learn how the underdog can turn the tables.
From the hypercompetitive world of social media to high-stakes business-to- business sales to the trenches of retail, Killing Giants is The Art of War for a new era. It proves that size does matter-the size of the fight in the dog.
Great case studies on each of the 10 strategies presented. There were several companies I had heard of and a couple profiled I had not. Listening to this in audio format, wish there would be a PDF with a quick 1 sentence after each as strategy of what that company did. Kinda the reminder of what to do and not do when looking at your corporate strategy.
Most compelling items are when you think you are invincible and the barriers to entry into your revenue stream are too high, you're in trouble. Working in health care right now, there are new technologies coming out that in their infancy will definitely disrupt some of our revenue streams. We know about it and are looking to partner with the technologies. However, this is just one. What about the other 100 startups we have no visibility into and I don't believe this is just in Healthcare.
Must read...I have read this multiple times before every new launch of a product. Not only do the stories give you great ideas to set the table to win... but they also obviously recreated the competitive landscape. Giants fear David and truly are so focused on maintaining market versus constantly evolving... they are slow.
Interesting that, because this book is somewhat dated now, the examples of “good’ companies have seemed to really thrive over the last 15 years since publication. I really found this book entertaining and would think the sharks I watch on TV every Friday night would be proud of the strategies presented in it.
In the annals of business book history, there are certainly numerous examples of counter-intuitive, guerilla-style marketing books. But few, if any, serve as guideposts for how to take down, or at least compete with well established giants in their respective fields.
While “Killing Giants: 10 Strategies to Topple the Goliath in Your Industry” (in stores next week) can’t guarantee any startup company’s success, it offers a full panel of inner-connected concepts and ideas that when combined as a mission statement/marketing plan, give a much smaller organization at least a fighting chance to make a dent in a much more established firm.
As Denny, a former brand manager and now a business consultant, points out late in the book, “killing giants is a complex business.” He proceeds by explaining, in sufficient detail, a wide variety of logical, though not always obvious, methods to create inroads into a market that may appear locked to upstart competition. Denny shows how brands — from Go Daddy to the automotive Mini, from (the well worn example of) Jet Blue to Massachusetts Senator Scott Brown — can actually compete, at least within certain market segments against well-known, deep-pocketed giants like Coca-Cola, Starbucks and even Proctor & Gamble.
Denny stresses that such a pursuit requires smarts, diligence and a bit of luck, as he teaches smaller concerns how to capitalize on their opportunities by using speed to market, polarization of the audience, issuing challenges, broadcasting advantages and even fighting dirty. The benefit of Denny’s advice comes not from deploying one method over the next, as much as knowing the entire toolbox and utilizing the combination of actions most suited to your product or industry to chip away at the market leader, sometimes before they know what hit them. And while Denny doesn’t want to get your hopes up, he demonstrates how a small company can take over at least a niche of a larger company’s turf by laser-focusing on one slice of the pie. (Electronic connector company Belkin is Denny’s example of this phenomenon.)
If there is an over-riding message in “Killing Giants,” it’s that, unlike other renegade business books, Denny doesn’t sugar-coat your chances of success, but rather, through stories and illustrations, he shows that through extreme dedication, focus and diligence that anything is possible, especially if you are aware of these veritable business slingshots.
For video and more check out Stephen Denny’s website here:
Just started. I follow Stephen's post on his blog and have gotten to know him a bit. I really like his approach to most issues marketing and strategy related, so I'm looking forward to diving in...now finished. Really a solid effort here. The case studies are varied and make strong statements. Practical and strategic advice for small companies and large ones that need to act like their small brethren.
Especially since this is what I do, every day. It's really about competing in a space where the big guys and gals are, but doing so in such a way as to have the big guys and gals not want to mess with you. Read it and you'll understand.
This book has a good premise, that small companies can grow in markets dominated by huge companies. The book also profiles some great brands. I gave it just three stars because the flow is choppy and the brand profiles aren’t particularly insightful.
Mm, it was ok. Least he was honest enough to say that you probably won't read the whole thing anyway. Not quite what I expected, but I did get one piece of advice that could help, so I guess that's fine.
É um livro excelente! Recheado de histórias de empresas que optaram por caminhos menos prováveis, e/ou ousados, usando muita criatividade pra ganhar sucesso diante dos gigantes de seu setor. Vale para qualquer estrategista.