There are actually 2 things wrong with this approach. Disruption happens quickly. If your competitor makes a move and you wait for it, you are at least one step behind (if not more). Often you will not be able to make the same move fast enough, because the competitor has already set up everything. Such as the IT structure, processes and budgets.
What also goes wrong is that if you want to 'disrupt' the market yourself, you probably won't come up with the right ideas. They are often not innovative and are in the same vein as the products or approach you are currently using. You will not be truly disruptive with this.
Do you want to stay ahead of your competition and be the disruptor yourself? Then look at markets where disruption is already at a higher level. Industries that are ideally suited hong kong telegram data for this: travel, media, consumer electronics and the fashion industry. Look at how companies in these industries have tackled it and see to what extent you can apply this in your own industry.
Disruption needn't be a threat. It's a power, and it's in your hands.
A well-known example from the travel industry is of course Airbnb. Creating a platform where supplier and consumer trade directly with each other.
In the fashion industry, Zappo's is an interesting example. Zappo's wanted to remove the stumbling block for buying your clothes online. This stumbling block was the possibility to try on and feel the clothes. They did this by implementing a 365-day return policy.
Pitfall 2. Not putting the customer first and not taking it as a starting point
Customers are 15 to 30 times more likely to search online for a solution, rather than searching for a brand (source: Google AdWords absolute search volumes , February 2016). Traditional 'product-based' brands often rank low on searches based on consumer needs. The search term with Google Ads purchases is often expensive and has a lower chance of conversion if the product does not exactly meet the need.
Different customer needs
This is often a problem for brands that have traditionally focused on the one-stop-shop . The location and parking used to be what drove traffic into the store. But online, the store often fulfills multiple customer needs, which results in traffic being very spread out across search terms.
People search for needs, not brands
An example of this is B&Q, a store focused on DIY products. These products are spread online across paint, electrical appliances and wallpaper. This store loses out online to a Paint Direct, Electrical Direct or Wallpaper Direct.
Brands of the future focus on needs.
Do you also want to respond well to the customer? Make sure that you are also continuously working on improving what you offer the customer. Ask yourself the question: if I bought this myself, what would be even better for me?
Pitfall 3. Sticking to your margins
Often, disruption in the market causes margins to plummet and economies of scale to drive profits. When a retailer has high margins, this is often a sign that the market is ripe for disruption. So, sticking to high margins is not the right starting point.
Disruption has 3 phases in this respect.