‘Speed brings safety’ is 'Geschwindigkeit bringt Sicherheit’ in German. A variation of Issue 77’s theme: ’If you slow down, you go down
’ but that was about maintaining your momentum while remaining modest.
Speed is an attitude – What’s a crisis for one company is an opportunity for another. Almag has the attitude that the faster they can react, the better they are.
Speed is a niche – A big part of Almag’s market is commoditized and driven by price. But by understanding what their customers really want creates an opportunity to specialize, and serve a niche that is less price sensitive.
Speed requires strategic choices – The right attitude will only take your brand so far. To create a sustainable competitive advantage that differentiates your brand requires strategic choices.
“So when you take your fixed costs, and allocate them over the hours you are working, we are generally working fewer hours than most people in our industry. Just cause we want that time available so that if somebody needs something quickly we can turn it on, and we have the capacity and space to do that,”
Speed is a brand promise – Focusing on a niche is a commitment. Almag positioned their brand as the emergency department for their industry. It’s a bold claim, but they back it up with the attitude, systems and capabilities to deliver on it.
The post ended with a great conclusion & questions questions: Differentiating your brand in a competitive market requires similar choices. Who do you serve? How are you differentiating your brand from the competition? What can you do better than anyone else?
As always, thank you for reading!
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