Innovation Myopia

Every day, people look at what their competitors are doing. Then they decide which of those activities are worth challenging.  Then they create a project to match their competitors. 


At first, this strategy works.  If my company leads the field in one or two areas, I can keep opponents in check by matching their breakthrough attempts. 

Over time, my strategy fails. While I've been busy matching opponents, someone else has ignored all of us and introduced something totally new.  While many company worked on better customer profiles, gamification (Zynga, Foursquare, others) revolutionized the business. (Never saw that coming, did you?)  While many brands looked for better e-commerce tools, social commerce emerged and changed everything.

The good news: social commerce is easier than other kinds. That's because we're people, not demographics or segments. Social commerce is about buying form people you trust. Get to know people, give them reasons to trust you, and you win. Your competitors will be too busy catching up with each other.