For example, for a time we sent out various newsletters to our customers—for affiliates, agents and consumers. Typically newsletters are considered best practice. In theory, they provide valuable content for the recipient and create yet another touchpoint between the business and the customer.

But truth be told, it didn't appear that anyone was reading our newsletters (which were sent via email). I say this because we were offering some pretty awesome prizes via the affiliate newsletter. We're talking cash, iPods, etc. All the reader had to do was email us to win the prize. We never received any emails.

We had countless discussions about whether we should discontinue the newsletters. After all, newsletters are best practice. And our competitors were sending them out left and right.

In the end, we lessened the frequency of our newsletters and put them out only when we had something particularly important and valuable to communicate with our customers. Our competitors still send their newsletters and because of that, we sometimes feel compelled to drum up another.

But the reality is, what works for someone else might not work for you. Yes, you should keep on top of your competitor's business practices. Web site features, product offerings, etc. But don't copy for copy's sake. Do it when you know it'll augment your business. And when you know you could do it 10 times better than your competitor.

For more fodder, check out the Wisdump post. It's getting some good comments. Of course, feel free to leave your two cents here at the Agent Blog.

[Photo from Flickr under Creative Commons]