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The Secret steps to gaining an Edge on Your Competitors
Have you ever taken a look at your competitor's success and wondered, "How are they doing it!?" As frustrating as it might be, competition is a good thing for all of us. And in today's age of information, nothing is sacred, which means the answers you're looking for are hiding in plain sight.
If you're prepared to do a little research, and sift and interpret some data, there's a competitive edge out there waiting for you to find it. And we may even have a covert mission for you, should you choose to accept it!
Pay No Attention to that Man Behind the Curtain!
There's no trick or illusion to what your competitors are doing. Even if you can't see it or don't understand how a competitor is accomplishing something, there's a simple explanation for their success.
Go Undercover
If you're a brick-and-mortar business, go to your competitor's store every couple of months just to experience it. In the digital world, it's easy enough to visit a site and take some notes. Don't do anything unethical, of course, but gather as much reasonably ethical intelligence as you can.
_ ozoou, Frilff
Learn from Other Markets
Who says you can only learn from your direct competitors? Not us. It's an incredibly smart idea to find a more digitally mature industry and analyze the marketing successes and failures of its companies.
Actually Use the Data
An estimated S20 Billion per year is spent on market research in the US. But how much of this information is put into action? If you spend time and money gathering intelligence, don't let it go to waste.
Stay Focused
The moment you get too caught up in competitive research, stop. Stay focused on your goals, and use the competitor data to tinker with your process and strategy for accomplishing those goals.
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