Succeeding in a Competitive Market
Digital Strategy by way of eCommerce is a budding industry with a relatively low barrier to entry. This means that start-up costs are relatively low and there is not much proprietary knowledge or infrastructure required to enter the eCommerce market. Low barriers to entry create high competition in the industry making it hard for agencies to differentiate themselves from one another and maintain long term success. Many players are constantly entering the market looking to gain a foothold in the industry. Trellis has been able to endure the competitive eCommerce market for many reasons and CEO Isaiah Bollinger shares some insights in our latest video series. The eCommerce space is full of companies that provide very similar services and solutions. Before aggressively jumping into the market, we encourage brands to introspect and understand why their company is special and will succeed over the others.
Build Your Own Barrier
Differentiating yourself from your competitors is key to protect your brand and encourage new clients to work with you. In a diluted market, this can be difficult to do but the industry leaders will position themselves away from the crowd by providing additional services and benefits that other agencies do not offer. Brands can set themselves apart by imparting a proprietary operation into their processes, engage in a novel company philosophy that resonates with users or even offer innovative solutions that no other company has access to. Whatever your point of differentiation is, embrace it and market it to its capacity. Placing your company apart from others gives you an edge over your “cookie cut” competitors. Become experts in the space and it will be difficult for your competition to copy your strategy and even harder to replicate your success.
A Niche within a Niche
Most digital agencies operate in many different spaces and offer a plethora of varying solutions and services on their product line. Trellis is no different as we are experts in eCommerce, digital market, development, and design, just to name a few. However, in the early days of Trellis, as Isaiah looked to get established in the digital arena, Trellis solely focused on eCommerce and more specifically Magento software development. This allowed the Trellis team to get their foot-in-the-door and become experts on one space before diversifying their services and spreading themselves too thin. Become good in one space, build up your reputation, and then move slowly into other markets as you become increasingly profitable. Trellis now operates in many different spheres of the digital world, check out our full breadth of services here.
This walk before run approach will allow you to establish yourself in a competitive market and understand what your brand needs to function in the space. Be wary of low hanging fruit which can be helpful to get your brand off the ground but do not rely upon those clients forever. In a competitive market, players are constantly entering and leaving. New players will look for low hanging fruit first and foremost, so established brands will not want to compete for this client over the long term.