Those who are looking to compete with successful real estate professionals will often imitate the leaders in every way, shape and form. It is visibly prevalent in every industry, especially in real estate. The competition will study what the competitor is doing, with the intent to blur the differences. Blurring is a method of nullifying your competitor’s strategic differentiators, and saying “we are just as good, if not better!”
This explains why we often see the exact same website, and even the same messaging on these sites, and why logos often resemble each other so that they are a blur in the eyes of sellers and buyers.
Photo by Silviya Avsova
Here is a clear-cut example: Coach (a maker of handbags and accessories) since 1941, was the first to notice the under served market of luxury handbags at affordable prices. In 1981, Michael Kors also went into the same space. The new company copied the Coach store designs and even used the same manufacturers to produce their bags.
When Coach woke up, two years ago, they asked their employees to look at a slide show of storefronts and bags asking them to identify the brand. Like the majority of consumers, they could not differentiate Coach from Kors.
Photo by Rajan Singh
Coach’s chief operating officer, Victor Luis, stated, “We were slow to evolve, “We did not innovate quickly enough, did not invest enough in differentiating ourselves from the new competition that was in some ways taking our playbook.”
Blurring is a valid method of creating a level playing field with your competition. However, if you do not amplify your own inimitable strategic differentiator you will face the same consequences.
Are you being blurred by your competition?