Is Your Marketing Campaign Effective If Every Competing Business Is Doing The Same Thing?

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Is a marketing campaign effective if all your competitors are doing the same thing?

One way to look at it is, if they're all doing it, they must be making money with it, so maybe I should do it, too.

Another is - if you do the same thing as everyone else, you are not differentiating and thus your marketing will suffer.

Example - leading up to this past April 15th tax deadline, it seemed like every other street corner had some joe standing there in a statue of liberty costume with a sign for XYZ Tax Service.

I've read Chauncey Hutter's material (noted marketer of CPA Accounting and Tax firms) who recommends doing the statue of liberty idea, but I'm wondering, now that everyone is doing it, is it still effective?
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