It’s not an easy task running a business, especially not in the era of information, when the key for success is knowing move your competitors are planning. Nowadays it’s not about having the best product, but about making it seem like you’ve got the best one instead. Advertising has taken over, causing the market to become oversaturated with services of all kinds. So, how can you be the best without having the perfect strategy to overthrow everyone else out of the game?
As far as we all know, having just a bit of insight on someone else’s strategy will allow you to prepare before they use it against you, and that’s what you, a business owner, should be doing in 2020’s cruel corporate bubble.
Today’s business world is like an enormous chess field. One wrong move and, you’re most certainly out of the game. However, this game is a lot easier if you know every next step that your opponent plans.
In this article, we’ll talk about some of the most modern and sophisticated ways of spying on your competitors, because as we all know, in a war there are no rules. You want your business to succeed? It’s just the right time to keep on reading further. “It’s either success or regret,” is what a famous businessman once said, so let’s not spend any more time and jump straight to what’s important, shall we?
1. Observe their strategies
Sometimes the best way to learn a thing or two about someone else is by observing what they do. The same thing applies to the business world as well. If you notice that someone’s preparing to start a marketing campaign and they were quiet for some time, it means that a significant product is about to be released from their side. By picking up this type of a clue, you’ll be able to take various efficient actions.
If that particular company is a direct competitor in the same field in which you operate, counter-campaign is one of the better options. Or, you can put a similar product out on the market yourself. Doing this will make sure that theirs doesn’t get all of the attention upon release. Now it’s quite tricky to apply these things in all business-fields, but one thing is for sure. Observing their moves is even better than spying.
2. Utilize the potential of technology
Now comes the fun part. You have a fiery competition that means either life or death for your business, and you’d do anything to prevent getting pressured out of the game. Well, thanks to some brilliant minds, we have the internet, and given the fact that it’s 2020, we have advanced technology.
Numerous computer programs are available for purchase, and a lot of them are created with only one purpose, to spy on your competitors. Now we’re not experienced in using such programs ourselves, but if you’re determined to learn, you can achieve it quickly. As might be expected, software of this type and category costs some money, so if you’re planning such a purchase shortly, affcoupons.com is your friend. It’s a website where many discount codes are sent away on the regular, so if you’re up for saving some funds, it’s the right place to be.
3. Collaborate with mutual partners
It’s quite easy to gain some insight into the plans of other businesses if you share the same co-workers or partners. One business meeting and a bit of a serious conversation and, you already know way too much. As we said above, the corporate world is a warzone, and in war, there are no rules. In the past, numerous “dirty” tricks saw practice by folk intending to put other businesses out of the game, and nobody ever considered it to be a sin. It’s just what you have to do if you want to sit on that success-throne one day. Although all this sounds a bit darker than it should, it’s the reality.
Now there’s nothing wrong with asking questions, and whether those partners will decide to share some facts or not is up to them, but if they do, you’ve done nothing wrong. Those willing to share information will most likely ask for something in return, which is just another business on their side. See? It’s all about winning these days.
4. Find out what their goal is
When you know what someone’s up to, it’s easy to predict their next move, and most importantly, to understand their entire strategy. You don’t have to interfere with the business of theirs at all, simply knowing what your competition is planning will already put you at a massive advantage. You can plan your advertising campaigns a lot easier, give the customers what they need, and, most importantly, prove to them that you’re the best before they do it.
How to know what someone’s goal is? Well, you do a lot of research, observing, and you use a few data-pulling and analyzing computer programs every once in a while. Yes, you have to keep adapting and improving alongside technology. Not understanding data and computers these days is not a good thing.
5. Allow them the first move
“When you cannot beat them, join them” is an old saying by which many people live. We find this to be especially true for smaller businesses. Today the corporate world is a real monopoly, and larger companies eat smaller fish just like sharks in the ocean do.
If you ever get a chance to collaborate with a larger company, let them reach out to you first. This approach will put you at a strategic advantage, and you’ll be able to gain some insight into what they’re planning to do. When you reach out to them, and they’re already a lot larger than you, you’ve pretty much lost the battle from the very start.
Predicting the next move of your competitors is crucial for your business’ success, but how exactly you can do that is something that you need to learn as you go. In today’s article, we made sure to cover some useful tips that should help you play this complicated game of chess a bit better. We hope that our strategies helped you directly, or at least changed the way you perceive the entire “game.” We hope that you have a lot of success in the future and remember: Chess, not checkers.