Recently in working with a small business, it was clear that some business owners don’t have the time, money or expertise to build out and execute a robust marketing plan. Given all the contemporary marketing tools, it becomes even more overwhelming for a small business owner to know where to start. This got me wondering about the value of using a copy cat strategy.
The strategy would involve following the marketing of key competitors in order to try and understand their marketing plan, and then figuring out which elements to copy. Especially, if the competitor can afford to partner with a external marketing agency, then it’s likely the types of marketing they’re doing are the ones that have proven to be most effective. This strategy would not only help a company define their own strategy, but would give them insight into what they need to do to be competitive.
Of course the company would need to develop their own unique marketing messages, but at least they would know where to focus their energy and how to position their message against their competitors.
So what’s the verdict?
Do? Or Taboo?