Do You Know What Your Competitors Are Up To?

You should—or you could end up losing business to them. Here are some ways to check out the competition:

• Request information. Call for a price list, a brochure or other marketing information. Evaluate how you were treated on the phone, how the request was processed, and how long it took to get answers.
• Order something. Have a friend order something from your competition and from your company. Compare and contrast the two experiences.
• Pay a visit. Note the differences between your business and theirs.
• Compare everything. Think price, packaging, marketing, selection, quality, delivery and attitude.

When the comparisons are over, be ready to react. Implement any necessary changes as soon as possible.