Non-traditional competitors are entering the service provider market and capturing market share.
Who are they? Can content service providers ignore these trends? Will technological innovation get an extra boost from this economic climate? What can we expect next? Is ‘Google’ the adviser of the future?
If competitor benchmarking reveals that the traditional way of working is still successful and has growth potential, do you really need to change?
One answer might be that the scope of the benchmark exercise was too narrow, especially in cases where non-traditional competitors are targeting your market.Is the impact of non-traditional competitors a realistic scenario?
The easiest way – without any further analysis – is simply to deny or ignore their existence. The obvious arguments include our strong brand name, our strong reputation and the strong position our company has achieved in the market traditionally. Companies have responded like this and subsequently gotten burned. Ignoring innovation, being too self-confident or underestimating technology developers is not a smart move.
What happens when you don’t ignore?In the worst-case scenario, you can accept your position, reinvent yourself, set new strategic objectives and mobilize your company’s resources to realize new sources of income. The wrenching effect of the change is less extreme, of course, if the company adapts its strategy and is capable of spotting new opportunities and (re)positioning itself.