The Last Mover Advantage

Many of us have heard about first mover advantage.

If someone is the first to enter a market, then this business can capture the market and make a lot of money.

And many of us think that first mover advantage is great.

But it doesn’t make much sense in today’s world, where everything is changing very fast.

The internet connects all of us and the speed of business has gone up.

Competitors are fast to catch up and compete with you, and you will no longer have the first mover advantage.

That’s why, Last Mover Advantage is in fashion.

Facebook was not a first mover in the social network space. We had MySpace and Orkut as social networks long before Facebook.

Facebook was not the first social network, but the last social network.

Once you capture the entire market with a better product and service, and execute your ideas well, you can become the last mover.

Google+ tried to build a social network, but it failed. Because Facebook became the last social network. They thought ahead and created a strong platform where it becomes difficult for them to move away. Also, if the product is good enough, they will never move away.

Google was not the first search engine. But Google Search will be the last search engine. Ask.com & Yahoo! Search engines existed long before Google. Google has become the last search engine.

So new ideas are over-rated.

If you have a brand new idea as an entrepreneur, it is not going to be of much value to anyone. Even investors are not interested in new ideas.

If you can take an idea that is proven to work, proven by your competitors about the need in the market, then you can take the same idea and execute it better. Or find a pocket of the market that is being missed by your competitors and fill that gap.

I am not the first one to release digital marketing courses in India.

But I saw a gap in the market. That digital marketing courses are too costly and the quality of the courses is poor.

So I made high-quality self serve courses and gave it for an affordable cost.

If I can serve my followers well with their needs to digital marketing, I could become the last mover in this space, but that will take some time.

To execute your plan well, you need the following:

  • A Long term vision
  • A strong understanding of your strengths and capitalizing on it
  • A product that can have a market differentiation and serve the needs of customers (that your competitors are missing out on).
  • Investment to some extent to help you get off the ground
  • Mentorship and advisory network
  • A great team who can work with you to execute your vision

Most of the businesses who become extremely successful execute plans well. They didn’t become successful because of their unique idea.

So de-prioritise ideas and prioritise execution.

And don’t be afraid to enter a market which already has competition. If you think you can serve customers better than your competitors, then you can succeed in that market.

Competitors help you prime the market to convert people into buyers. People are smart and they won’t invest their hard earned money on a mediocre product. If they see that your product is better than the competition, they will buy from you… even if it is the competition that convinced them that they need the product.

Cheers,
Deepak Kanakaraju

 

40 thoughts on “The Last Mover Advantage”

  1. Hi! My name is Sanjay and I am from Pune.
    You are really an inspiration for new beginners in the field of digital marketing.
    After reading your article it gave me a sense of confidence to approach to you.
    I also saw a youtube video of your on tryootech. After listening to your advice at the end of the video, I decided there and then to start my journey in digital marketing through a blog.
    It has just been a week since I have started my blog.
    I want to thank you for the inspiration and for boosting up my confidence.
    I am looking forward to learn, grow and explore in the field of digital marketing.
    Any help and guidance if required I will surely be in touch with you.
    Thanks once again.

  2. I am Sunny Bidhuri from Delhi , I am thinking that I am also start blogging in digital marketing and take my first step in digital marketing world . I am start this blog because of you only you . You are the king of digital marketing .
    thanks a lot .

  3. Great article with your experience. I feel like reading one full self-help book. I agree that people who have succeeded in life have that long vision in mind. For example, Steve job had that long vision and invented Macintosh. Thanks for sharing this article.

  4. sir your post are really amazing its helps me to enhance my knowledge .sir i have watched your youtube video it was really very helpful.
    i have also started a blog and your valuable content will help me to achieve success in future. I am looking forward to learn, and explore more and make my career in digital marketing. Hope so you will post such content again and again.

  5. Thnks deepak you are inspiration your posts day by day and start blogging and writing posts as you are sitting in front of me thanks again

  6. That gives a whole new perspective to the way I used to think. I always thought that getting into space where the competition already exists is nothing more than a waste of time. But after this article, I would love to see first hand if and how this can work out for me.

  7. Hello Deepak, As in the facing time i am start up enterpreneour for digital marketing faculty i got so much learning sessions from your videos and books.
    THanks a lot deepak to not also aware about technology but to make us confident to work with great attitude.

    • Hi Deepak, another great topic which I just new learned. The last mover advantage is so fascinating and works like a charm especially when you’re into online marketing to generate more leads and sales.

      What I’m liking about your content is not only you’re talking about new marketing concepts but your points are subtle and to the point. That’s a great content writing strategy to attract new people who’re visiting your site to spend more time on the blog.

      Yes, last mover strategy works like a charm for those who hustle and bring new ideas to the table in their industry. Thanks for sharing your insights Deepak, keep up the great work!

  8. This blog is an eye-opener for me. Now I’m feeling that I can beat my competitors with providing a better solution than my competitors and take advantage of being the LAST MOVER.
    The last two paragraphs are very informative for me. I urge digital Deepak to keep sharing their valuable strategies and experience.

  9. Great article and motivation as well.While doing Digital Marketing we think that its hard to beat the odds and we stop competing them but I know one thing whoever would it be and how good his work is, I can beat and replace him at one point and I can.

  10. hello Deepak. i am really a keen reader of your blog and your blog inspired me to start my own blog. currently i am facing troubles getting traffic on my site. this will be solved. No worries. on behalf of the world thanking you for creating digitaldeepak. 🙂 Cheers!

  11. Hello sir, my best online blog is Digitaldeepak.com.I am the regular reader of your blog and it has made me very interested in online marketing, blogging etc.
    keep sharing we will keep reading.

  12. Actually Facebook what’s up all popular aociao handlers are fast mover not first movers… Our Indians must follow the same process. I wish for your success deepak as a fast mover in blogging and digital marketing…

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