In the vast world of film production and creative agencies, specialization will likely become the key to your company’s success.
Those who don’t develop their niche will continue to face the hurdle of competing in overwhelming supply since one-stop-shops continue to flood the market.
Consequently, you will be stuck working in a saturated market that allows clients to drive down fees and demand more RFPs.
To combat this downward trajectory, you should consider focusing your service offering to specialize in a niche where you can genuinely present yourself as a leading authority.
By doing so, you will diminish competition, command higher fees, and position yourself uniquely in the marketplace.
To clarify, specialization doesn't dictate exclusively what you do.
Instead, it's your primary service offering—your main selling point. It’s the “product” you advertise because it’s the thing you can claim you do better than just about anyone else.
Specialization is your competitive advantage.
A prime example of this is SHEP Films' recent strategic positioning around “customer story” production, evident in their revamped website and their social media narrative.
The intrigue lies in the fact that SHEP Films, revered in the glitzy realm of commercial-making and esteemed for its feature film, Prospect; chose to pivot their marketing emphasis to customer stories.
Curious about this shift, I invited Brice Budke, a co-founder of SHEP Films, to my podcast, Crossing the Axis.
Our discussion delved into the rationale behind such a well-regarded film studio, known for their stellar sci-fi world-building prowess, deciding to spotlight customer stories in their marketing endeavors.
What unfolded was a riveting discourse on the business logic guiding their focus. We explored the market opportunities and how their expertise in sci-fi world-building furnishes them with a distinct edge over other production houses.
For entrepreneurs grappling with the challenges of slashed fees and fierce competition, this podcast episode offers valuable insights.
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