Companies compete by being valuable to their customers. Value is delivered by products and content. If the competition is mature companies compete with both products and content. The tougher the competition the better the products and the content must be.
Here are 5 random examples in which content makes a big difference and can offer more values than the product:
3) Food & Drink – A candy bar will win because it is advertised as healthy even if it still has more than enough sugar and fat (it is still a candy bar).
4) Makeup – Makeup brand by Kim Kardashian will win over a better makeup product not supported by her.
5) Films – Films’ production budget is not as relevant as its marketing budget and its celebrity PR.
In above examples customer accepts values offered by the content and not by the product. This is because the experience of the product depends highly on the customer’s perception, and perception is shaped by content before the purchase of the product. By the time customer experiences the product they have already decided to like it. They accepted the values offered by the content. A man decides to like the Burger King hamburger before he ate it because of the ads. A teenage girl decides to use KKW Beauty makeup before she tries it because of Kim’s Instagram video.
Underestimating content as an important element of competition is an error for all companies. The most competitive companies will invest in content as much as they invest in products.