The word translated as “example” describes literally the pattern printed on a page that a child in school may trace over (e.g., to learn the shape of letters of the alphabet). Combined with the next words “in his steps” we need to think of Jesus’ suffering as a pattern we need to follow, as in footsteps he left in which we need to place our own feet. The purpose of his suffering, of course, differs from the purpose of our suffering, but Peter insists that his pattern is ours to follow, his steps ours to trace. That is the cost of following Christ (Luke 14:25–33).
21 For to this you have been called, because Christ also suffered for you, leaving you an example, so that you might follow in his steps.