They’ve taken on the biggest players around and have won, and in a minute I’ll reveal the 5 reasons why they have conquered such a difficult market. But first please know that the lessons you’re about to discover aren’t just for Magento – They are virtually the same reasons why Facebook beat Myspace, and why Google beat Yahoo.
So as you read, take note of how your business can utilize these same 5 traits to win the battle in your marketplace
- They solved a problem
Until Magento Enterprise came along the market was owned by the IBM’s and Oracle’s of the world. So if you were a small merchant who had outgrown the opensource platforms of the day such as OpenCart, then you didn’t have very many options that you could afford.
One of the benefits of Magento Enterprise is that it’s affordable enough that any business who turns over $500,000pa. with a healthy margin can see a solid ROI from upgrading and leveraging its features.
So they solved the gaping affordability issue that mid-sized eCommerce merchants were facing while growing.
They delivered more value
By slicing the existing entry price that the market had, instantly Magento Enterprise was delivering more value – But they didn’t stop there.
They loaded up the platform with frequent updates, training and new features to provide a great value solution. The biggest way they delivered value and created their position in the market was by their ‘open source’ approach which allows merchants to adjust any aspect of the site that they desire.
They didn’t price themselves out of the market
Many ‘business experts’ are preaching that you should charge a ‘premium’ for your product. Now while I do agree with this in most cases, if your trying to dominate a field this model won’t work.
Magento Enterprise decreased the cost of their product for small sellers by pricing it per server. This way as the business scales and needs more hosting resources, their licence fee increased also. But by this time the extra isn’t an issue for the client.
They stayed ahead of the curve
Customer Segmentation is starting to get a lot of attention in the eCommerce world recently as ‘the future’ of eCommerce marketing – But did you know that Magento has been offering this ability for years?
Just as Facebook released Mobile Apps before they were popular, Magento Enterprise has released quality features before they were in demand. So in essence they were helping craft and direct the direction of eCommerce, rather than reacting to the latest and greatest new feature.
They built a strong team
The Magento community is a tight knit group. Once you make the decision to join your treated like family. There is Magento Meetup’s that teach you how to use the platform, Partners to help you implement the platform and even annual conferences to keep you upto date.
By building this family they helped ensure their clients were successful on the platform, and in return built lifelong clients.
Now take a few minutes out and think how you can utilise these same lessons in your business and let me know in the comments below how you’re going to take action and dominate your industry!
