Instead of copying what top competitors do well, analyze what they do poorly or neglect. Excelling in those specific areas creates a powerful differentiator. This is how Eleven Madison Park focused on rivals' bad coffee service to become the world's #1 restaurant.

To navigate rapid technological shifts like AI and stablecoins, Mastercard's CEO champions a mindset of "constructive, competitive paranoia." This involves being hyper-aware of potential threats while proactively leaning into these discontinuities to discover and capitalize on new business opportunities.

Instead of general discovery, conduct "loss calls" with prospects who chose a competitor. This provides unfiltered feedback on what capabilities truly matter, where your product falls short, and whether your pricing or sales process—not just features—was the problem.

Brainstorming cannot reveal the true friction in your customer experience. Following JetBlue's example, leaders must regularly become their own customers. This practice uncovers how high-level decisions inadvertently create flaws in the customer journey that are invisible from the boardroom.

Instead of matching rivals' strengths, identify their weaknesses or overlooked details, like a poor coffee program. Focusing on these neglected areas allows you to create a unique, best-in-class experience and gain a competitive foothold. Guidara's team calls this 'reverse benchmarking.'

Instead of guessing your competitive advantage, ask potential customers which other solutions they've evaluated and why those products didn't work for them. They will explicitly tell you the market gaps and what you need to build to win.

Instead of reacting defensively when a customer mentions a competitor, use it to probe their underlying needs. Asking 'What do you like about it?' helps differentiate between a critical feature gap ('the steak') and a superficial want ('the sizzle'), keeping you focused on solving real problems.

Instead of general analysis, feed your AI a defined customer persona (e.g., "Growth Gabby") and ask it to evaluate a competitor's website copy from that specific perspective. This uncovers messaging weaknesses that directly relate to your target audience's concerns, like complexity or pricing.

Noah Zemansky, Stitch Fix's VP of Product, first tried the service as competitive research while leading fashion at eBay. He became so "hooked" by the superior customer experience that it ultimately led him to join the company. This underscores that the most powerful competitive analysis is deeply experiencing a competitor's product firsthand.