Many of the competitive advantages of the past have become enablers. They enable the company to play in the market space, but they do not help to differentiate the company’s products or services in the eyes of the customers.
If we can make it a habit to see what is a real differentiator of a business vs what is an enabler, we will become much better at focusing on the resources and assets that make our business stand out. They help us define a clear positioning.
Everybody is familiar with GoPro, the company that has dominated its niche of the consumer electronics market for many years.
Let’s look at GoPro and reflect on what drives their success:[/vc_column_text][/vc_column][/vc_row]
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What makes GoPro stand out?
Why is it that this company can successful compete with consumer electronics giants for so long?
Let’s talk about measuring GoPro’s performance. How can we measure whether and why they are succeeding?
There are the standard metrics, like revenues, profits and cash flow ratios of course.
Yet, besides that, there are metrics such as price-to-monthly-active-users or other “eyeball” related metrics that measure the popularity of GoPro’s Youtube channel for example. Are they of any use to understand why GoPro has been successful?