In a post a couple of weeks ago (7 Steps to Finding Your Uniqueness), I talked about defining your own uniqueness. Part of that post was about understanding what your competitors are doing. In this post, I want to go into that in more depth as it is an area that a lot of businesses can benefit from in terms of innovation and remaining competitive in front of their customers.
First of all, when I suggest this as a worthy activity to clients they often come back with the reply: Why should we spend precious time and resources studying our competitors when we have so much to do? That’s a fair question if your business is going well but it is a worthy investment of your time and energy for the following reasons:
To stay abreast of your competition here are 14 questions you should be asking and reviewing on a regular basis:
These are 14 questions that you should be asking about your competitors and reviewing them on a regular basis. Once done you should be reviewing your position against them and asking yourself if you can spot any gaps that need to be filled in your business or opportunities for innovation.
Can you think of anymore questions that I should add to this list?
Thanks to Ingorrr for the photo