Keeping up with your competitors can feel like Keeping up with the Jones’—a never ending process that includes keeping constant tabs on social media and websites.
As it turns out, comparing your business to your competitor’s requires more work than just stopping by. Check out this list for how to best approach an in-store visit.
Prepare
Start by making a list of everything you want to compare. This can include pricing and signage, and overall things like customer experience, first impression, appearance, customer flow, and in-person experience.
Let’s be honest, walking into your competitor’s store can feel uncomfortable. Pick a reliable and trustworthy friend to make the trip for you! Have them read your prep list so they know what to keep an eye out for, and make sure they stop by the restrooms and classrooms while they’re there, too. Better yet, chose a topic they have knowledge about to ask a sales associate while they’re scouting your competition; this is a tell-tale sign of both training and how your competitor is trying to sell.
Review
After you visit your competitor’s store, see how you stack up. Make a list of everything you need to improve on, and schedule it into your next few weeks. Every time you complete a task, cross if off the list.
Visiting your competitor’s stores should be done at least every quarter—trust us when we say your competitors are definitely shopping you.
*Inspiration for this post comes from Georgeanne Bender and Rich Kizer. Check out their website to find out more about them and their services.
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