There’s a passionate group who recommend you ignore your competition, and just focus on your customers. It’s a terrible idea. Good information is hard to get.
Watch their annoucements and actions, and ask why? A few examples:
- New product. Revenue growth insufficient? Have they identified a new niche or market? Provides signals about the maturity of your niche/market, which suggests how you should market and sell your product.
- New marketing. Targeting existing or new customers? Tells you whether they’re expanding market or wallet share.
- New executive. What are their previous successes? That’s what’s next.