Friday, April 11, 2014
Being the Apple of the Industry
The power of the Apple symbol and reputation is something many companies can only hope to one day taste. What makes the power even more incredible is that among the technologically inclined, there is still a debate if Apple products are actually superior to other brands.
So how in the world did Apple manage to control the conversation about technology so completely that users of their devices feel so superior? Perhaps even more importantly, what can you learn from Apple's experience and apply to your own business?
Apple and Innovation
Apple is nearly synonymous with innovation. The company prides itself on being the first to develop a wide range of products. For products that are already in existence, they look for ways to make theirs superior. Being a follower is not in the vocabulary of an Apple designer. Steve Jobs and his business partners were experts at getting people excited. Even if an idea had already been used by other companies, they had a way of making investors and customers feel as though they were getting something new and exciting, and people jumped at the chance.
As a business leader, you should aspire to this same spirit of innovation. Rather than looking and seeing what has made your competitors successful, try instead to see where your competitors still fall short, and capitalize on those differences. Take these weaknesses and use them to drive the industry forward, with your company at the helm.
Apple and Price
There's no denying that Apple products tend to cost more than comparable products from other companies, yet that has not hindered the company's progress. While customers like feeling as though they're getting a good deal, they're more concerned about getting quality and service. An estimated 70 percent of customers would be willing to pay up to 13 percent more if it meant having a more positive customer experience. Apple has fine-tuned the customer experience. Just walk into one of the stores, and watch how carefully the associates acknowledge you, get to know your name, and find out what you're looking for.
The products themselves also define style and elegance. While people might debate whether Apple is the actual industry leader, few would deny that their products do perform well and continue to amaze people with what technology is capable of doing. When companies successfully combine innovation, customer service, and solid products, sometimes a bump in price can actually work in their favor. The higher prices Apple charges only add to the perception that their products are superiorly made.
Whether people love or hate Apple and its products, they cannot deny the influence the company has had on the technology industry. For many, the company represents the pinnacle of branding and controlling an industry conversation. Although only a few companies can so completely dominate their respective industries, all businesses can learn from Apple's business model. Apple offers lessons for even the most seasoned of business professionals looking to improve customer reach. If you're not sure how to go about implementing these ideas, we can help you hone your message and control your brand conversation.