Leadership: Do you Shop?
August 25, 2008
Not for shoes, but for knowledge of your competitors.
If you don’t, know that they are shopping you. You shop to know what the competition is doing so you can use that information to separate yourself from the others in the industry. If you are doing something innovative, you better believe they will be copying it shortly. The key to getting customers is to be remarkable and you are not remarkable if you don’t stand out. Be sure savvy competitors are shopping you by the web, phone and in person.
Shopping is fun — have you done any lately?
-Betty Otte
Filed under: Growing, Leadership, Managing, Planning, Success
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Julie Brander
Peg Corwin
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Betty Otte
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4 Comments Leave a Comment
1.
Marti | August 25, 2008 at 11:41 AM
I recognize the importance of knowing what the competition is doing but in my professional service firm, I have not been able to find out what they are “selling” and their pricing. What creative ways have worked for others to get behind the curtain to see what the competition is selling and charging? (Their pricing and packaging is not posted on websites or published for the shopping public.)
2.
Derryl | August 26, 2008 at 7:25 AM
Betty:
Thanks, I really appreciate your posts! On the flip side, how do I protect myself from the competition shopping my business to learn what we are doing? We’ve come up with some innovative ideas but I don’t want to hand them over to the competition!!
Keep those blog posts coming!
3.
betty | August 26, 2008 at 12:16 PM
Marti: usually there is a hurdle that you need to overcome like going to the web site and filling out an application or such to filter out a “shopper.” I always used others to do the research for me. You would need someone who is likely to be a customer that would look credible. Of course, that can go both ways.
The best idea is to take your good idea and be first to market and execute in an exceptional manner. Sadly, there is no silver bullet.
Anyone out there have better ideas?
Betty
4.
Betty Otte | August 27, 2008 at 7:21 PM
Hi, Derryl: congratulations on your company’s innovative ideas. I can understand how you don’t want to hand them over to the competition. Please see the note above to Marti.
There is no silver bullet, but you want to be first to market and the best to execute. Make your company the first and finest established brand. How have you protected your brand to date?
Betty
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