2. UNDERSTAND YOUR MARKET
The next step is to scale up. After you have discovered the aforementioned, take time to add more value to your product through innovation, strengthen the relationships between you and your customers and treat your potential customers in the best of ways. Recruit skilled and committed people that will be the best employees and you can even acquire competitors’ employees by offering better salaries and career benefits.
3. STAY AHEAD OF DISRUPTION
Innovation has never been so rapid, while the cost of falling behind has never been so high. One way to counter this is by growing and developing strategic agility. Here’s a reminder of how you can do this. When you understand how your competition and market is moving, you can use this to stay ahead of market disruptions. Use the technologies that will disrupt your sector before your competition.
Competitive analysis should be part of your strategy to gain more market share. But how can you start? And what are other benefits you can gain from competitive intelligence? You can find the answer in our other blog posts!