When we talk to CEO’s and marketing & sales directors about competition, we often feel they are most worried about their closest competitors. Competitors that do exactly the same stuff as they do. Virtually every company gathers loads of information on direct competitors.
At first sight, there is nothing wrong with that. Following up on what your main competitors do is just fine. But only “just” fine, because it is the Olympic minimum. You will hardly find out more than the things you already knew. In the first place, it will give you a good understanding of what decisions or actions brought other players to the point where they are today. Secondly, it may help you to see your assumptions being confirmed. In other words, you are looking into data of the past. Whereas the future of your company is… ahead of you. In the future. Exactly.
Stop focussing on the competition you know
Why? Because analyzing the past and analyzing the things you are more or less aware of, will in no way show you your competitors’ next steps.
