Derek Chew and Gianina co-founded Fullmoon Digital (FMDM) in 2017 to deliver effective ROI-focused campaigns and bridge the gap between brands and large advertising agencies. The marketing landscape has since become intensely competitive due to advancements in digital technologies, globalization, evolving consumer behaviors, and data-driven marketing. Derek emphasizes the need for regular competitor analysis in this dynamic environment. FMDM uses a plethora of strategies, from social media monitoring and industry events to SEO tools and mystery shopping, to keep abreast of competition. Derek, however, cautions against a competitive fixation that could lead to mimicking competitors and overshadowing a brand’s unique strengths and values. The key is to balance competitor awareness with brand individuality by focusing on unique strengths, building a strong brand identity, strategic competitor monitoring, innovation, and constant analysis and adaptation. This type of proactive approach is indispensable in the current business world.
Much of what they discuss can easily be applied to numerous industries, given the shifting business landscape. This type of flexibility will be crucial for companies that want to stay one step ahead of the competition moving forward. Learn more about uniqueness and competition in this month’s edition of Milkshake, by Hudson Printing.
“It’s useful to keep an eye on your competition, but stay focused on your own strengths and unique value proposition.” – Derek Chew, CEO of Fullmoon Digital