No matter thought you have for a platform that solves an “unaddressed market want,” it’s nearly a given there’s a group someplace engaged on one thing related.
In truth, it’s not unusual for 2 or extra founders to launch related firms and merchandise inside months or weeks of each other. The second to place out a launch press launch isn’t routinely a copycat however is commonly perceived to be so.
This notion is one thing we as an organization have wrestled with for a complete decade, as have many others within the SaaS area.
Outbrain and Taboola are native promoting firms based in 2006 and 2007, respectively. After years of battling for on-line supremacy on the earth of “Content material you Might Like” hyperlinks, the rivals even got here near an $850 million merger in 2020.
Each have been profitable in their very own proper. nRelate, a 3rd participant within the house took a distinct “anti-clickbait” strategy to content material suggestions and efficiently exited to Ask.com in 2012. SmartGift and Loop Commerce have been related rivals in on-line gifting and the checklist goes on.
Buyers may not care a lot about what your boilerplate “based in” date says and be extra involved about product-market match, cost-of-acquisition, ARR and a path to profitability. Nevertheless, within the battle for consciousness and consideration amongst potential clients, notion performs an essential position.
Strive ranging from scratch and ask your self, “If none of my rivals existed as we speak, how would I design my web site?”
There’s a sure first-to-market benefit that you just get. It all the time stings to listen to a prospect say, “Oh you’re like a less expensive/newer model of [your biggest competitor].” It stings much more when you already know you’ve a superior product.
In my expertise, even for those who got here to market earlier than or across the identical time as your major competitor, chances are you’ll, for no matter cause, be caught with a pesky notion that your organization simply popped up in a single day. Regardless of the cause, this notion can drag in your momentum, particularly while you’re attempting to determine your self in a brand new market.
In our journey of breaking the “copycat” fable, I’ve learnt lots about brand-building. There are issues I want we had carried out sooner and issues I’m happy with getting proper. Primarily based on my expertise, listed below are 3 ways manufacturers can push again in opposition to the stigma of being a copycat platform:
Lean into and promote your knowledge
It’s arduous for anybody to argue with knowledge (or at the least with its existence). One of many nice issues about being a SaaS firm is that you almost certainly have all types of proprietary knowledge. Likelihood is you’ve some form of knowledge that’s distinctive to you and your platform. If you’re combating the copycat notion, it’s a good time to lean into your knowledge — particularly for those who’ve been round for a few years.
