There aren't many things in business you want to do just because someone else is. In fact, one of the classic ways to waste your company's money is to invest in something just because one of your competitors did, only to find out that you've duplicated their mistake.
But, there are exceptions; sometimes you really don't want to let other companies get a big jump start on you. This is especially true online. If your biggest competitors are getting far ahead of you with PPC advertising, online video marketing, SEO, or social media marketing, don't let them get too big a lead before you react... waiting now could cost you later.
The biggest reason is that progress accelerates quickly on the Internet. It might be hard to get your first hundred customers, but the next thousand are a lot easier. The same goes for fans on Facebook, listings on Google, and other pieces of "prime virtual real estate." The bigger lead you build, and the earlier, the harder it gets for anyone else to catch up.
Set aside a little bit of time at least once a month to see what your competitors have been up to. If something new or interesting jumps out at you, make a note of it and give us a call to talk about it. Internet marketing is always changing, and the last thing you want is to get left behind because you haven't been paying attention.
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