Imagine a race track. Over time, in most markets, two brands zoom ahead, leaving the pack behind. Think McDonald’s and Burger King in fast food, or Nike and Adidas in sportswear. These become the “big two,” battling it out for the top spot.
Here’s the key: If you’re not already the clear leader, aiming to be a strong number two is a smart strategy. Why?
Focus & Recognition: Customers easily recognize the top two contenders. They become the go-to choices in the category.
Sustainable Competition: The number two keeps the leader on its toes, pushing them both to innovate and improve. This benefits everyone, including the customer.
Profitability: The number two spot can be quite profitable. There’s a loyal customer base and brand recognition, without the full burden of being the absolute leader.
So, if you’re not leading the pack, set your sights on becoming a powerful number two. It’s a strong position for long-term success.