How can you keep your team informed of the competitive landscape?

1 Conduct regular research

You can't inform your team of the competitive landscape if you don't know it yourself. Therefore, you need to conduct regular research on your competitors, customers, and industry. You can use various sources, such as online reviews, social media, news articles, reports, surveys, and interviews, to gather and analyze data. You should also monitor your own performance and feedback, and compare it with your competitors'. This will help you identify your strengths and weaknesses, as well as the opportunities and threats in your environment.

2 Share relevant insights

Once you have done your research, you need to share the relevant insights with your team. You don't have to share everything you find, but only the information that affects your team's work, goals, and challenges. For example, you can share how your competitors are positioning themselves, what they are offering, how they are performing, what they are doing differently, and how they are responding to customer needs and preferences. You can also share how your industry and market are evolving, what trends and changes are emerging, and how they impact your organization and your team.

3 Use different formats

You can use different formats to share the competitive landscape information with your team. For example, you can use email newsletters, reports, presentations, dashboards, infographics, or podcasts. You can also use different channels, such as intranet, Slack, Teams, or Zoom. The format and channel you choose should depend on the type, amount, and frequency of the information you want to share, as well as the preferences and needs of your team. You should also make sure that the information is clear, concise, and engaging, and that it highlights the key takeaways and implications for your team.

4 Encourage feedback and discussion

Sharing the competitive landscape information with your team is not enough. You also need to encourage feedback and discussion. You want your team to understand, question, and apply the information you share, not just passively receive it. Therefore, you should invite your team to share their opinions, perspectives, and ideas on the information you share. You should also ask them how they think the information affects their work, goals, and challenges, and what actions they suggest to improve or adapt. You can create a space for feedback and discussion, such as a dedicated channel, a forum, or a meeting, where your team can exchange their views and learn from each other.

5 Involve your team in decision-making

Finally, you need to involve your team in decision-making based on the competitive landscape information. You don't have to consult your team on every decision you make, but you should involve them in the decisions that affect their work, goals, and challenges. By involving your team in decision-making, you can show them that you value their input, that you trust their judgment, and that you respect their expertise. You can also help them see the connection between the competitive landscape information and your strategic decisions, and how they contribute to your organization's success. You can involve your team in decision-making by asking for their suggestions, feedback, or approval, or by delegating some decisions to them.