Do I connect with competitors on LinkedIn? [#81]

Posted by Adam Franklin

[Brisbane CBD, Queensland, Australia]

Do I connect with competitors on LinkedIn? Personally, I do — and here’s why (but I also acknowledge the case for not connecting with them).

VIDEO: Why I connect with competitors on LinkedIn

TRANSCRIPT:

G’day, it’s Adam Franklin here. The question I want to address today is one that I get quite a bit. Do I connect with my competitors? The short answer is there’s no right or wrong. Let’s look at the two different arguments here.

For argument “against” connecting with competitors

The first argument is let’s not connect with our competitors mainly for two reasons. One, they’re not going to buy from you and two, they might poach your clients your poach your contacts and that’s not a good outcome. That is fair if you choose to do that, no drama whatsoever, as long as you’re strategic in your reasons for doing so.

For argument “for” connecting with competitors

Me personally, I do connect with competitors and the reason for that is because one, they’re people that I know. They’re peers and sure, they’re probably not going to buy from me, but what we find in business is that we each have our specific niches or ‘nitches’ if you’re watching this from America. So, whilst from the outside I look like a marketing coach or a social media speaker, but realistically I have my own niches within that. I help advisors and consultants with my coaching. I talk about social media, but it’s organic social media. It’s content marketing, it’s not paid.

Referring work to competitors (and vice versa)

When you’re in an industry, you realise that there’s some people that you can help and you can serve with your particular specialty and other people who you can’t. If you connect with what to outsiders will look like a competitor, the benefit is that if you can’t serve somebody who comes into your marketing ecosystem, then you can refer them on to partners or friends in the industry. For example, as a social media speaker, I can only be at one conference at one time.

Referring work to competitors (and vice versa)

If I am booked for an event and I get an inquiry to book me for another speaking event in a different city or a different country and this has happened on numerous occasions, I have to say no. But I don’t like saying no to a client, so I say “Look, I can’t make it, but I have a friend who is good and I can recommend him or her.”

So I refer my competitors into work.

That might seem silly, but I can’t be at that other country at the same time, and what that does do is it generates good will not only with the client, but also with my friends who are also social media speakers.

That’s why I connect with competitors on LinkedIn

That’s my reasoning for connecting with competitors. If you don’t want to, no worries. If you do, that’s good to.

There are the two sides of the coin and I’d be very interested to hear what you think of that in the comments. I’ve also got my companion guide to help you through some of the pros and cons of who and how and when to connect with the people on LinkedIn. Here’s my LinkedIn Connection Guide.

Until next time, take care.

MY MARKETING METHODOLOGY

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