Tip of the Week
Competition is Not About Other Companies
Competition isn't just about a checklist of features or about creating the new whiz-bang product innovation in your category. It's all about your customers.
Are you the best at solving your customer's problems and do they agree with your assessment?
Growth ulitmately comes from making sure you are solving your customer's problems better than any other company. As the competitive environment changes and new companies start to solve problems for your customers, you have to always stay focused on your customers and creating the best product you possibly can for them.
You can stay in the know by learning what product(s) the customers who leave switch to when they cancel. Also find out why they chose to switch to those product(s). In the same style, find out what people switched from and why when they first started using your product. These are actionable way to inform and prioritize your roadmap to always ensure you are solving your customer's most important problems.