Marketing School | Digital Marketing | Online Marketing

In episode #674, Eric and Neil discuss the First Mover Advantage. Tune in to hear why being first may not make you the best. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic:  How First Mover Advantage Can Kill Your Business [00:50] Coca-Cola is the beverage king. They are the first mover. [01:11] The first mover advantage helped Coke become the dominant brand. [01:26] Peter Thiel has a concept that says whoever the first to market is, gets a huge advantage. However, you also end up with a lot of high costs and inefficiency. [02:17] Last mover advantage is taking what has been done and improving upon it. [02:31] Being the last in is a huge advantage. [03:23] Moz was the first marketing tool out there, but other brands that came after have overtaken them. [03:35] SEMRush and AHREFS are go-to’s and improved upon what Moz does. [03:58] YouTube did really well at first, because they didn’t have to deal with the lawsuits other sites did. [04:30] Napster was a great service, but they had to deal with law