Facebook is now aggressively challenging Google’s growing success in social media—especially in relation to music, video and mobile services—aiming to maintain its innovator’s edge. In its massive makeover, however, it is also succeeding in offending Facebook loyalists who are less than thrilled with many of the changes. Worse, in some peoples’ eyes, Facebook is allowing itself to look more and more like the other guy.
Will Facebook me-too itself out of business? Not likely. Might the company stir up confusion in the social media marketplace that hurts its image and softens customer loyalty? Not out of the question.
You don’t have to be an airline or Internet company to copy the actions of major competitors. It happens all the time. With the best of intentions, you study your competition’s best practices to see how they ‘got there.’ You track new product launches. Then, you emulate some or all of these success markers, hoping to improve your lot.
Along the way, you forget that your company’s greatest strategic advantage lies in investing in the things that set it apart from others. In short, you allow yourself to be Foogled (Foo-gal verb; to Foogle: “to be seduced into adopting strategies and tactics that blur the lines between you and your competitors.”
Who wins? No one.
Not your customers, for whom you’ve made choices harder. Not your employees, who may no longer be sure why they signed up and who they’re working for. Not your investors, who will anticipate a price war, which may erode profit margins and confidence.
Be a hero. Send a memo to your team: Don’t be Foogled!
I’m the author of two groundbreaking books on identity. The first is Identity Is Destiny: Leadership and the Roots of Value Creation. It’s for leaders – and those aspiring to lead – who want new and innovative insights into what accounts for success over the long term. The other book is The Identity Code: The 8 Essential Questions for Finding Your Purpose and Place in the World. This work is for individuals who want to live more fulfilling, meaningful, productive lives. Bottom line: I help companies and individuals realize that they’ll be much more successful being themselves than acting like somebody else. In short, I help my clients find their true identity. When you find it, you have no competition. NOBODY can beat you at being you – especially if you consistently reinterpret your identity in ways that keep you fresh and relevant to the world around you.
John Kador says:
Excellent points. It takes confidence to stick to your differentiation. A business can also be foogled when it dilutes its pricing proposition, as Netflix seems to be doing. I’d like to hear you write more about Netflix.
Mark Avery says:
Mimicry is a big problem here, as studying/copying competitors’ moves does erode the significance of identity dynamics. southwest is a good example of someone who stuck to their identity and integrated the “no frills” into company culture and image. They were good at choosing their people also. When other companies tried to mimic parts of Southwest, but not the package, they experienced expensive failure. What are some other ways to protect against the problem of mimicry?
Elsie Maio says:
Larry, kudos on calling attention to a chronic problem and practical solution in such an entertaining way! F’oogled indeed! Elsie