Who do you compare yourself to?

As you create products and services as well as the strategies to generate attention for your business, who or what do you compare yourself to?

Most executives have a relentless focus on the direct competition and use that as a benchmark for comparison. They look at the competition's products, price, marketing and try to do the same but with an incremental increase.

But the strategy of comparisons to your close competitor means that you are likely to become a "me too" that’s just a little better, faster, or cheaper. That's no position to be in.

Microsoft tablet computer anyone?

Compare to people and companies in other industries

True leaders forget about the competition.

Many look to other industries to compare to.

For example, in highly regulated industries like pharmaceutical, healthcare, and finance, the competition is very likely to follow the pack and be fearful of engaging the market with compelling content and social media. Comparing to this market means you’d also be fearful and say "no". If all the hospitals in my area don't have a YouTube channel, why should we?

Smart marketers like Chris Boyer and companies like Inova Health System don't worry about other healthcare providers. If they did, they would say no to blogs, twitter, YouTube and the like. Instead, they look to the best of consumer products companies as their model for success.

Learning from outside your comfort zone

It's always fun when nonprofits look to for-profit businesses. Successful B2B outfits take a page out of B2C playbooks. Service business look to product companies for inspiration (and vice versa). A lawyer markets like a novelist. And a novelist communicates like a journalist.

Try to get away from the comfort of your own peer group and see what you can learn from those outside your industry.

As for me...

I'm a huge live music fan. I've seen nearly 500 bands live and am interested in how musicians and bands perform as well a how they market themselves. So that's who I compare myself to.

I've learned a great deal from people like Amanda Palmer and bands like the Grateful Dead.

When I go to a live show, I watch how the musicians interact on stage and I adopt some of the moves in my own live speeches.

As an example, at the top of this post is a photo I took (iPhone 4S tweaked with Instagram) of Tyson Ritter of the All-American Rejects at a recent Boston show (thanks to my friend Jodi who manages the band and invited me to watch from the photo pit). Tyson is way out front standing on a monitor and interacting with the audience.

The photo of me by Jay Blakesberg is at my NAMM keynote this year. I'm also way out front standing on a monitor and interacting with the audience.

I've got no musical ability but have always loved watching how rock stars move and interact. How cool that I can do the same but in a different business!!

I've never seen another speaker in the hundreds of events I've spoken at jump onto a monitor. I learned the move from someone outside my “competition”.

Another example: I looked to the Grateful Dead for inspiration about sharing content. Learning from the Dead, I give lots of content away for free (with no email address required).

I'm convinced that by learning from musicians and bands, I've developed a more personal style than had I just copied other business authors and speakers.

How about you?

Do you copy the direct competitors? Or do you look outside your industry for inspiration?

Comments

[Rj_c]

I think that copying competitors has hurt me when doing business locally in the sense most of my clients want to compare me to what they think are my competitors.

We all have our way of doing business but if I followed what my competitors did I would be in my opinion behind on many things. In a small island in the caribbean everything is laid back and everyone gets into their comfort zone to easily.

I will use this to help some of my clients understand why just comparing to competitors is something that might put you in a disadvantage and even worst have you titled as a "Me Too".

Thanks for always sharing these bit of knowledge. Very interesting I love music but I am no Musician. I enjoy watching and enjoying when a musician performs. Let me see if I can get this year to the Gathering of the vibes!

[Andy Strote]

In the marketing work we do with our clients, we always start any major campaign with a Competitive & Comparative overview. Clients readily understand why we might want to look at the competition, but sometimes question why we would want to look outside the industry.

You've nailed it in this post.

Many times, the bar is quite low in a given industry - not much to learn there. But we often look to recognized industry leaders and ask ourselves, what does Apple do? What about BMW? How does the local cable company deal with the many complaints that it receives? Lots to learn by looking further afield.

[David Meerman Scott]

Rj - Good. Glad the post helped.

Andy - Keep pushing. It can be difficult to get people out of their comfort zones.

[Ingersollink]

I really like this idea. It is not something I have thought about before, but I can see how businesses get into a rut by compareing themselves with their competitors. Great advice.

[Melonie Dodaro]

This made me think a little harder as I ask myself that same question. But I would normally not think about direct competitors to answer the question. My mind would normally go back to what a heroine could have done if faced with a similar situation.

[Bookkeeper Sunshine Coast]

Stepping forward for the best of your products and services is of great value in operating an enterprise. It is even tough to get the attention of those whose comfort zones are beyond what your expectations. This, however, is not impossible provided that you have the dedication to never lose hope to build your own reputation in the business world.