The crossover effect
How should consumer products companies position themselves on a growth path to compete effectively in the digital economy?
The relevance of a consumer products company is only as strong as its ability to pivot to meet consumer demand and seize emerging opportunities. Companies must learn to quickly adapt, innovate, and differentiate their brands – without leaving an opening for their competitors to steal their thunder.
To succeed in today’s hypercompetitive environment, consumer products companies need to employ greater speed, agility, and defense to outmaneuver competitors. Players can create space and options by mastering a move known on the basketball court as the ‘crossover’.
The ‘crossover’ strategy is based on finding new ways to earn revenue and maximize profits, such as monetizing content or data, pursuing innovative partnerships, or selling excess capacity. At its best, the strategy can be hypnotic, disguising your next step and keeping your rivals off balance as you get into position to make your next big play…