The idea behind competitive intelligence isn’t so much to beat the competition, as it is to become the obvious choice for your ideal customer. And if your ideal customer is choosing a competitor and paying more for their product or service than they are for yours, then you are going to want to do some competitive research.
Personally and professionally, I’m not a big fan of FOCUSING on the competition. But that doesn’t mean that you shouldn’t know what’s going on in your industry and what your customers want that would have them consider another alternative.
Dumpster Diving – vs – Value Driving — Which would you pick? “Instead of spending all of our time and money figuring out what the competition is doing — shouldn’t we just give our customers what they want?” Yeah. That little sentence almost got me fired.
Online surveys are a great way to collect customer feedback, but they are not the only way, nor are they the best way. Sometimes, the best way to really understand your customers experience with you is to either watch them or talk to them. Here are some suggestions on how to collect customer feedback in your customers’ natural habitat — even if you’re shy.
People, as a rule, don’t like change. Our brains simply aren’t wired for it. Maybe that’s why so many of us cling to the old fashioned ways of doing market research. Ho Hum. Not only is it boring, but it doesn’t always work as well as it used to. Let’s change things up a bit.
It’s no wonder survey response rates are down to an average of 2% these days! Not only are your customers TIRED of taking your surveys, there’s a rash of customer survey scams out there that are a gateway for identity theft!