Q: Is mystery shopping my competitors a good idea?
A: Yes. You can obtain very valuable information to help make your community more competitive in the marketplace.
The information gathered during a mystery shop of your local competitors can result in obtaining a variety of data that can be useful in making your community more desirable. For example, once a mystery shop is completed for your area competitors, you can compare and measure the following types of information:
1) services offered that are included and not included in the monthly service fee,
2) the types of living arrangements offered,
3) current rates and possible “special offers,”
4) special events and other promotions,
5) quality of marketing collaterals,
6) renovations or additions to competitive communities and
7) the competitive community’s overall marketing and sales process (from first encounter
to trying to close a sale).
You also can mystery shop your own community or your portfolio of properties. That’s because what is relevant for expanding the understanding of your competitors also will help you sharpen your internal operation.