In this article, I will take a look at 10 companies that have successfully disrupted their respective industries and what new age marketing professionals can learn from them.
There are several models and strategies that can be used to disrupt age-old business models. Some of the most common include:
There are several models and strategies that can be used to disrupt age-old business models. Some of the most common include:
The low-end disruption model:
This involves targeting price-sensitive customers who have traditionally been ignored by established companies. The strategy is to create a product or service that is cheaper and simpler than existing options, but still offers enough value to attract customers.
The new-market disruption model:
This involves creating a new market by introducing a product or service that is entirely different from existing options. This strategy is often used by companies that create new technologies or invent new business models.
The integrated disruption model:
This involves creating a new value chain by integrating different technologies or business models. This strategy is often used by companies that can create new products or services by combining existing technologies in new ways.
The platform disruption model:
This involves creating a new platform that enables other companies to create new products and services. This strategy is often used by companies that create new technologies or invent new business models.
Companies that Disrupted the Market Successfully
1. Uber:
The company's offer is a ride-hailing service that connects passengers with drivers through a smartphone app.
The psychological elements include convenience and reliability.
Uber redefined the need for on-demand transportation and made it easy for people to get a ride at any time and place.
2. Airbnb:
The company's offer is a platform for people to rent out their homes or apartments as vacation rentals.
The psychological elements include affordability and the opportunity to experience a new place like a local.
Airbnb redefined the need for traditional hotel accommodation and made it possible for people to have a more authentic and unique travel experience.
3. Netflix:
The company's offer is an on-demand streaming service that allows users to watch movies and TV shows at any time.
The psychological elements include convenience and the ability to watch content on your own schedule.
Netflix redefined the need for traditional television and movie rental services, and made it possible for people to watch what they want, when they want.
4. Amazon:
The company's offer is an e-commerce platform that offers a wide range of products and convenient delivery options.
The psychological elements include convenience and a wide selection of products.
Amazon redefined the need for traditional brick-and-mortar retail and made it possible for people to easily shop for a wide range of products online.
5. Tesla:
The company's offer is electric cars and sustainable transportation solutions.
The psychological elements include environmental consciousness and innovation.
Tesla redefined the need for traditional gasoline-powered cars and made it possible for people to drive a car with a reduced environmental impact.
6. Spotify:
The company's offer is a streaming service that allows users to access a vast library of music for a monthly subscription fee.
The psychological elements include convenience, access to a wide range of music, and the ability to discover new music.
Spotify redefined the need for traditional music purchasing and made it possible for people to have access to a vast library of music at all times.
7. Instagram:
The company's offer is a photo-sharing app that emphasizes visual storytelling.
The psychological elements include the ability to share and connect with others through visuals, and access to a wide range of content.
Instagram redefined the need for traditional photography and made it possible for people to share their visual stories with a large audience.
8. Dropbox:
The company's offer is a cloud-based service that allows users to access and share files from any device.
The psychological elements include convenience and accessibility.
Dropbox redefined the need for traditional file storage and sharing methods, and made it possible for people to access their files from anywhere.
9. Google:
The company's offer is a search engine that delivers more relevant and useful results.
The psychological elements include the ability to quickly find information and the ability to access a wide range of knowledge.
Google redefined the need for traditional search methods and made it possible for people to easily access the information they need.
10. Zoom:
The company's offer is an easy-to-use and feature-rich video conferencing platform that allows users to hold virtual meetings from anywhere.
The psychological elements include convenience and flexibility.
Zoom redefined the need for traditional in-person meetings and made it possible for people to connect and collaborate remotely.
What New Age Marketing Professionals Can Learn from These Businesses
- Identify the current pain points and try to solve them.
- Keep the end customer in mind and try to create something that would add value to them.
- Be open to experimentation and fail fast.
- Keep a close eye on the market trends and pivot as needed.
Disruptive marketing is a strategy that challenges the status quo and shakes up the market by introducing new and innovative ways to reach and connect with customers. The companies mentioned in this article have successfully disrupted their respective industries by identifying pain points, creating value for their customers, experimenting and staying on top of market trends. New age marketing professionals can learn from these businesses and apply the same strategies to disrupt their own markets.