Over time, as categories mature, everything becomes commoditized.
Doesn’t matter what the cost is. Each player is fungible. It can be expensive B2B SaaS, marketing agencies, etc.
Your brand is your long term strongest marketing asset. Invest in it before you need it. That goes for you as an individual as well.
Companies used to compete on features – who does what. Since the start of mass marketing, benefits, and experience.
Last decades it’s been increasingly about the brand.
Functional differences get replaced by values and ideals. I buy Patagonia because I believe in sustainability. I buy CXL Institute because I like to think of myself as a go-getter who’s going places.
What does it say about who I am when I buy your brand?
Market penetration/popularity of the brand contributes significantly towards people liking a brand and thinking it’s good.
When you ask people for recommendations for a tool, inevitably you hear names that are the most popular/biggest in their category. Not ones that necessarily score the best on a spreadsheet. The majority of the people are satisfied anyway, not doing detailed comparisons and analysis (way too much work).
People often recommend tools they’ve NEVER used, but see all the time (Intercom, Mixpanel, Drift, Optimizely, etc). Gaining market share is the best thing a brand can do for its loyalty metrics, word of mouth and getting into consideration set overall. The more people know you exist, the more people like you. The more popular you are, the more popular you get.