How Do You Learn from Companies Outside Your Industry? [Marketing Cast]

Too often, companies look for industry case studies to learn from. However, many great examples of success exist outside your line of business. In this episode of the Marketing Cast , David Meerman Scott discusses ways to identify these stories and draw lessons from them.

Marketing Lessons from the Grateful Dead

Last year, HubSpot CEO Brian Halligan and David Meerman Scott published their book Marketing Lessons from the Grateful Dead: What Every Business Can Learn from the Most Iconic Band in History . Their goal was to showcase the many marketing lessons stemming from the creative minds of these unique musicians. This reinforces the notion that no matter what industry you represent, you can learn from totally different business models. In this case, the Grateful Dead can teach you much about building a community and distributing free content.

Don’t Limit Yourself

So many businesses, David points out, copy the competition or learn from companies only in their own industry. If you are a B2B technology company, for instance, you start obsessing over what other B2B technology companies are doing. Stop intentionally limiting yourself in this way! You can learn so much by looking at what an independent consultant, or a non-profit, or a rock band, or a church is doing to market its services or products.

Learn from the Companies You Love

Ultimately, the practices you admire are the ones you want to assume. “Think about the companies that you love to do business with,” David says. Their marketplace or category of products don't matter all that much. What can you learn from them and how do you apply it to your own business situation? That is the focus you need to develop.

What are some of the companies you might borrow ideas from?