If you have a focus on what your competitor is doing, you've lost sight of what truly matters: your customer. Your customer literally has all the answers to your product challenges.
They will tell you:
What they like about your product (what works)
What they don't like (what needs improvement)
What they are doing before they bought (their triggers)
What problems they wish you solved (future features) But you have to listen to them. You have to be willing to chat with them, asking the right questions that uncover their *story*. This is not the same as a survey. Teams who talk to their customers regularly grow 2-3x faster. This is a research-based fact from ProfitWell while they surveyed the habits of teams in the subscription-based business market. THEY GROW TWO to THREE TIMES FASTER.
Are you talking to your customers?
Are you listening to your customers?
Are you creating an environment where your customers are able to provide honest and open feedback?
Is that an environment where your team actually cares to listen?
So what do you focus on?
How do you focus?
Ask for feedback.