MISTAKE #48: You think imitation is the greatest form of flattery

Creating meaningful innovation is really, really hard. 

That must be why so many companies choose to imitate competitive products, tweak something little, and call it ‘new and improved.’  In fact, companies do this to their own products all the time.

But do you remember prior articles on how switching costs keep people anchored to the product they’re already buying, even if they aren’t totally satisfied?

Have you forgotten one of the Universal Laws of Shopper Dynamics?

Shoppers are content to continue behaving the way they have been behaving unless there is sufficient benefit to offset the actual or perceived effort involved in changing their behavior.

Companies frequently make the incorrect assumption that shoppers have lots of time and motivation to constantly change their behaviors.  In reality, humans have a far greater tendency to establish shopping habits...or at least easily fall into them.

Meanwhile, companies will introduce very similar products, just altering minor aspects or shifting the price up or down, expecting shoppers to come flocking.

But they rarely do. 

Being different does not make you better.  And there is a certain threshold of difference your product needs to cross to have someone alter their buying habits.

The global sourcing reality we now live in has largely removed the barriers to imitating most products.  This includes finding ever more creative ways to work around patents.

Has this been your business plan?  Has your product been inspired by items already on the market?  Has your design clearly been borrowed heavily from other products? 

Not only will shoppers show little interest in your me-too product, but 20 other vendors have probably been tempted with the same easy path to product design.  And some of them probably have better sourcing connections to get them to lower costs or they’re content to accept lower margins.

Imitation is an exceptionally dangerous game.  Any success you experience could just as easily be taken away by the next vendor who finds ways to improve upon your imitation.

IMITATION + SOMETHING = A SHOT AT SUCCESS

If imitation is at the core of your business, be sure to combine it with something exceptional so you have a fighting chance of getting the buyer to say yes, shoppers to purchase it, and competitors to have to work a little harder to displace you next year.

Apple has been extremely successful at combining smart imitation (they didn't invent the MP3 player) plus one more thing.

Consider what your one more thing can be...and it doesn't just have to be product-based:

Create magnetic packaging with an awesome at-shelf presentation

Create dynamic online content that speaks to and engages potential buyers, building confidence in your product.

Provide exceptional customer service and an online presence to mute poor reviews and customer complaints.

Develop branding that is easier to find, recognize and recall than the competition.

And start spending more time listening to your customers to learn what real meaningful innovation could look like in the future.