In recent weeks Zoom has rapidly overtaken competitors to become the videoconferencing app of choice for business, government, and individual users as a result of the confluence between the Covid-19 pandemic and the massive spike in demand for an effective way of staying in touch with loved ones or conducting meetings from enforced social distancing or self-isolation in their homes. What explains Zoom’s success, and what risks must Zoom avoid if it is to solidify its leadership?
The strategy template for Crossing the Chasm “the right way” urges entrepreneurs and CEOs to pick a head bowling pin (or target market segment) and double-down on their bet in order to achieve dominant segment share within eight to twelve quarters. Easy to say, but very few companies manage to pull this off successfully. This real-life case shows that it can be achieved with spectacular results despite stiff obstacles here and there.