B2B Mystery Shopping: Enhances Competitive Vigilance & Uncovers Blind Spots

The harsh world of competition has been a focus of business literature for many generations. Whether it’s a B2B or B2C environment, competitors are always looking for a weakness or blind spot in their competitors’ offerings. A few companies even conduct research on themselves to identify where they can improve internal processes to be more efficient and secure, enhance the customer experience, increase profits, and gain a greater share of the market.

Whether you call the research Competitive Intelligence or B2B Market Research, the objectives are the same: uncover weaknesses and opportunities.

In our work over the past 27 years, we have provided clients with the insights they needed to improve sales, reduce losses, and deliver more efficient, effective products and services, thereby enhancing customer loyalty and engagement.

For example, one major client was concerned about why they were losing so many clients to one competitor. We discovered that it was the result of the client’s policy of inflexibility in handling customer dissatisfaction, of not being flexible enough to deal with customer concerns. Competitors had discovered this weakness and were using it when making sales pitches to customers. As a result, the client made changes to their customer service, which eventually saved them millions simply by retaining clients.

In another example, we discovered that a competitor was shifting away from focusing on retail banking clients and expanding its target market to include other financial services and retail platforms. This prompted our clients to expand their services to attract businesses in other markets as well.

In addition to helping clients react quickly to competitors’ actions, we have also helped clients anticipate market changes and potential competitor reactions.

Being ahead of the game saves clients time and money by helping them adapt to the changing needs and challenges of technological development and shifting spending habits.

For more information on our competitor research services, including B2B mystery shopping, why not contact us to arrange a quick online meeting.