Stealth Mode is defined by PC Mag as an act, “taking place in secret. It often refers to the position that startup companies take when developing a product they feel will be very competitive in the marketplace.” It is important for companies to go into stealth mode for a plethora of reasons. One is the concern that your new idea, product or service has been done before. It is important to understand what the company or companies who have engaged in launching the same idea, product or service have done. By doing stealthy research you can decipher if the new idea, product or service you want to take on is better or more valuable than the similar idea that had previously been offered to the public. Simply go online and check out their website and other marketing materials in order to grasp a better comprehension of what went wrong, or right for their company when launching the same, or a similar idea. Be proactive – Go to their website, sign up for newsletters, blogs, follow their Facebook page, and connect on LinkedIn. Get to know your competition without them getting to know you. The information you attain by researching the competition can help you generate an idea that is more specific to your company and potentially more fitting to your customers or clients.
According to Chris Dixon, a NYC-based entrepreneur and investor, companies should, “get big quietly, so you don’t tip off potential competitors.” But why is this so important? Seth Levine, a Boulder, CO based technology investor and managing director at Foundry Group says, “The pro-stealth argument is based on the theory that the more people know about what you’re doing before you actually do it, the less likely you are to be successful and the more likely are you are attract competitors.”
Typically a company would go into stealth mode so that they emerge as a fully functioning business entity with a head start over potential competitors, but this can cause a few drawbacks as well. At times it may be hard to hire as your company information would be kept secret until the new employee was on board. Another setback would be business development: it is hard to form B2B relationships with a company if they do not know about your business, its financials, and past performance in terms of credit payments. Another situation that a company could be faced with is its own negligent insiders. A 2011 survey created and distributed by the Ponemon Institutes shows that 39% of organizations reported that data breaches were caused by their own employees.
Remember: Great ideas come from observing the attempts of others. Your competition may have received a high ROI on a campaign that they did in the past, don’t copy it, learn from it. When you decide on one specific campaign idea, call Ritter’s to find out how we can help you put it all together.