The competition
“Know thy enemy and know yourself, and you need not fear the result of a hundred battles.”
Sun Tzu, The Art of War
Your competition isn’t just “that lot down the road” – they’re a goldmine of insights, tactics, and inspiration (or what not to do). Keeping tabs on them isn’t about paranoia; it’s about being prepared.
This week we dive into three ways you can keep an eye on the competition and stay ahead of the game (without needing a trench coat and dark sunglasses). Enjoy.
#1. Stalk smart (legally, of course!)
No, we’re not suggesting you loiter outside their office with a pair of binoculars (tempting as that may be), but a little smart digital digging can go a long way.
Keep an eye on:
- Their website: What’s new? Have they launched a shiny new service, published thought leadership pieces, or recruited new rainmakers?
- Social media: Follow them on LinkedIn and X. Take note of their content and how much traction it’s getting. Are they raking in likes while your posts gather tumbleweeds?
- Google Alerts: Set up alerts for their name to get notified of any mentions in the press or new announcements. (And no, checking it every five minutes won’t make a difference!)
Our recommendation: Spend 15 minutes a week reviewing their content and identifying trends. What are they talking about that you’re not? What’s their tone? Learn and adapt accordingly.
#2. Mystery shop like a pro
Ever wondered what it’s like to be on the receiving end of your competitors’ services? A bit of good old-fashioned ‘mystery shopping’ can be an eye-opener. Download their reports, sign up for their webinars, and experience firsthand how they woo their prospects.
Things to look out for:
- How quickly do they follow up? Are they onto you in minutes, or do they leave you hanging like a bad date?
- What’s their tone? Friendly and approachable or as dry as a contract clause?
- Are they offering anything unique that makes you think, “Why didn’t we think of that?!”
Our recommendation: Compile your findings and compare them with your own sales processes. Are you slower? Less engaging? More vanilla? Make adjustments accordingly.
#3.Stay close to your clients
Your clients are your best source of intel – and your competitors know it too. Regular catch-ups can reveal who else is knocking on their door and what they’re whispering through the keyhole.
Be brave and ask:
- What are our competitors doing well that we’re not?
- Have you seen anything interesting from other firms recently?
- Is there anything we could be doing better to support you?
- What’s keeping you up at night?
Our recommendation: Use client feedback to fine-tune your approach and pre-empt competitor moves. If they’re offering something cheaper, faster, or more personalised, you need to know – and counter it with your own brilliance.
Final thought
Keeping tabs on the competition doesn’t mean becoming obsessed; it means using them as a benchmark to push your own BD efforts further. Stay informed, stay proactive, and most importantly – stay ahead.
