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The world of business is vast and ever-changing. The quest to move ahead and increase profitability is paramount. Competitive mystery shopping has emerged as a powerful tool to assist businesses in understanding what their competitors are practicing in their daily sales methods. Stay ahead of your competition. Is it unethical to shop your competitors? It’s not unethical if the program is set up to evaluate and learn. Of course, any kind of sabotage would be unethical and is not practiced at Third Eye Insights LLC.
We pride ourselves on deploying unbiased evaluators to observe the business, interact with their employees, and subsequently report back on their findings. The amount of data touch points is tailored to the client’s specific needs. Learning about the newest products, processes, services, and procedures can spark new ideas with your employees and increase customer satisfaction. Perhaps they have a different way of greeting a customer than your current procedures or they use different terminology to explain a service or product. Even things like learning their floor plan or layout can help improve your store if it’s more efficient. There may be things uncovered that you and your employees never thought of. The data points are endless and provide analyzed aspects of your competitors’ operations. You can find out how your staff and business practices stack up to the competition with real world measurable data. Competitive shopping programs identify areas of weakness, but also strength, thus enabling clear directives for benchmarking performance excellence.
Understanding how your customers and your competitors’ customers interact with staff and utilize the floor plan is paramount for any business with customers. Customer perceptions impact their experience, but also increase or decrease the brand likeness and loyalty. Word-of-mouth recommendations are the easiest way to gain or lose customers.
It’s critical that you empower your business and stay relevant to your competition with strategic competitor mystery shopping. Utilize measurable insights about your business and your competitors’ locations. Review your results with dynamic analytics and refine your business practices and elevate your brand’s experience.
Do you think your competitors have never stepped foot in your place of business or sent a mystery shopper in? In reality, most new and well-established businesses utilize various mystery shopping programs to enhance their own stores and get ahead of the competition. After all, you don’t want to get left in the dust. Changing and adapting to the ever-demanding customer is required for businesses to succeed and grow. The cost is dependent upon a myriad of factors, but it’s not as expensive as most things, but it is an investment as well. At Third Eye Insights LLC, we tailor each program to the client’s specifications to ensure the most cost-effective program for all parties. Our small business department caters to the unique needs of those clients and may be able to apply grant money to their program to help off-set their program costs, as well as no-contract or month-to-month minimums to help them flourish in a difficult landscape. Corporate or large businesses have options for long and short-term contracts with reduced fee options for longer contracts while still offering low minimums. We do require exclusivity for the majority of our contracts.
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