One of the things I love about working with new clients is their complete fresh and new perspectives on business, thinking and their thoughts on competition. I’ve led three big competitive studies recently – one in the online social media monitoring world, one in the business intelligence/performance management world, and one in the online social business tracking world. Each of these founders has had a completely different view of the competition, and by sharing my views, they’ve opened up to see the necessary presence of competitors in the market.
Why are competitors good?
1) Competitors keep you on your toes – looking for innovative features to better their ideas.
2) Competitors drive you to request customer feedback on what they do and don’t like about your competition.
3) Competitors force you to find new partners or new delivery systems that strengthen your brand.