We live in uncertain times.
From the AI feeding frenzy to our wibbly wobbly economy, we could be forgiven for hiding behind the sofa and mumbling “tell me when it’s all over”.
In this climate, Fear of Missing Out (FOMO) is being replaced by Fear of Messing Up (FOMU). When it comes to buying, the old adage “no one ever got fired for hiring IBM” feels truer now than ever.
And that spells trouble for lesser-known brands.
Because while the big boys can retreat behind the moat of their name (“everyone knows us, of course you can trust us”), the small guys are left ducking for cover in the tall grass.
They end up looking like the option that might not be worth the risk.
But there is a way that lesser-known firms can construct their own moat – and become the least-risky choice for 'safety first' buyers.
How? By building a brand around their deep expertise.
The power of deep expertise
The biggest weakness of the giants in your sector? They're generalists, not specialists. They've built a business, and a reputation, around being broad but shallow.
By going deep and narrow, lesser-known experts create a defensible position for their brand. They move from ‘supplier’ to ‘specialist’ in the mind of the buyer. They increase the chance of getting chosen ahead of their generalist peers.
But to play and win there requires courage. It means choosing the narrow path of deep expertise – and resisting the lure of the wider (and easier) path of shallow expertise.
The reality? Most businesses don’t choose the narrow path of deep expertise. They end up following the market leader down the wider path of shallow expertise – but without the moat of a recognised brand.
At a time when buyers are looking for their IBM, you might just want to reach for that shovel and start digging your brand moat.
It starts by honestly answering the question: "What are we really best at?"