Visit the branches and the website of your major competitors EVERY 6 MONTHS. Inquire about their products and services, gauge the knowledge of their sales staffs and feel the ambiance of their store.
Look at their current promos and buy from them. Experience first-hand how it feels like to be their customer.
You can learn so much from this visit, including their sales spiels, focus products, customer service, and even the morale of their employees.
You can then use this knowledge to benchmark your company vs. their offerings. Note the BEST PRACTICES that you can apply to your own company.
I assure you, it will be a time well-spent.
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