You cannot outwit someone you don't perfectly know. This is why it is vital to have a full competition report done to give you all the crucial elements about whom you are competing with.
A competition report will:
- Pinpoint the areas of your business that need immediate attention.
- Hightlight were your competitors have an edge over you
- Give you some insights as per how your competion is perceived and viewed from the customer's point of view.
- Will tell you how your competition handles phones calls, emails, sales pitch, positioning, customer service, complaints, etc...
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How is This Method Going to Benefit You and Your Business?
How Efficient is this Method?
You will know what others do better than you so that you can improve these areas of your business too.
By improving the weaker areas of your business will results in attracting more and more new customers, and in some cases get back some customers who left you for the competition.
By adding more value to your business you will progressively become an obvious choice in your field.
Speed getting first results 85% Speed getting investment back 89% Cost-Effective in the long run 100% Cost-Effective maintenance 88%
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Pros
Cons
Knowing your competition itself already gives you an edge over your competition!
You will be able to immediately counter-act the costly 'mistakes' in your business.
Ultimately, you will outwit your competition!
It's hard to take in the fact the your competitiors are doing better than you (in some areas), and even worse to have it written down in an official report.
I first was interesting in a competition report because I wanted to find out what the competition was doing that I wasn't, but it was actually the other way around that helped me the most. I found out what I was doing that the competition wasn't, and started to make that the emphasis of my marketing campaign. Now people come to me because the competition just simply does not compare :) (Posted on 10/24/11)
Would you recommend this product to a friend? Definitely yes
It really sucks knowing that your competitor is making more money than you, but it is even worse when you don't know why. Knowing what the competition is doing differently is vital when trying to make adjustments. The numbers speak for themselves really, by making small adjustments in customer service techniques, I have been able to win back customers that used to go to "the other guys" (Posted on 10/24/11)
I have never ran a business before and had absolutely no experience. I found that the best way to learn is by watching the competition. Moneybees helped my pinpoint problem areas in my business and helped me fix those problems. Now people can't say "well at so and so place they do this" because not only do I do it too, but I do it better. (Posted on 10/24/11)
Would you recommend this product to a friend? Definitely yes