Turning a blind eye to the actions of competing companies in your industry is a great way to get caught off guard and you’ll miss out on valuable insights that can help your company thrive.
Just as your company is constantly evolving, so are the other businesses within your industry. Ignoring their activities, both online and off, can have dire consequences. Leverage social media to bolster your competitive edge with these three tips:
1. Give credit where credit is due.
A self-assured person isn’t threatened by another individual’s achievements, and a competent company isn’t either. Don’t be afraid to acknowledge your competitors and give credit where credit is due, but do be sure to use these moments as opportunities to define how your firm is different from the herd.