Let The Air Out Of Your Competitor’s Balloon
Years ago I worked at a radio station that was getting clobbered by a smaller, smarter competitor. Each week they would launch an exciting event that would take pubic attention away from my station and place it firmly on theirs.
One day a new manager taught me a lesson I’ll never forget. “It doesn’t matter if our competitors come up with a great idea first,” he said. “If we immediately copy their idea and make it even bigger, the public will think of us as the originators.”
This is absolutely true and I have seen it work many times. Because there is a lag in customer perception, you can grab the idea, make it bigger, and get the credit. Most people will think YOU originated the idea and your competitor copied you.
On the other hand, once you know this rule, you can defend against a competitor that tries it on you. When the competitor copies your idea, make yours bigger.