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Are you paying attention to your competition?

Earlier this week, the long-awaited Firefox 3 web browser shipped.

Last Wednesday, a cake from their competitor – the Microsoft Internet Explorer team – arrived at the headquarters of the Firefox development team to congratulate them for releasing their new version.

Obviously, someone at Microsoft is paying attention to their competition.

Do you?

I don’t mean to suggest that you should mimic their every move, becoming the Burger King to their McDonald’s.

On the other hand, watching them and the rest of your market is a necessary effort. And, as noted above, it’s ok to have a little fun with them once in a while.

Not long ago, we talked about how independent coffee shops could keep an eye on so that they know how consumers feel about Starbucks AND their competition.

How do you keep an eye on your competition? I’d be interested to hear about it.

2 replies on “Are you paying attention to your competition?”

I go through our main competitor’s site every few weeks to see what new features they have and regularly look at important keyword rankings.

The last time they rolled out new tech improvements we were able to catch up and exceed them in less than a week.

Ians last blog post..Tom Smith From the Catholic CD of the Month Club

Great post. You’d better believe that Starbucks is shopping Einstein’s and vice versa. Managers at Wal-Mart had better know what’s going on at Target. The big retailers all have processes in place to shop the competition.

Back in my sales days I called on Wally World, K-Mart, and Woolco (no longer in business.) As a visitor I was required to sign in their visitors’ book. The majority of the signatures in those books were always from competitors. There was no secrecy. Everyone knew everyone else and it was just part of the routine. I shudder when a retailer tells me (s)he wouldn’t be caught dead in such and such a store.

Mike Buckleys last blog post..Are You Selling a Commodity?

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