Large competitor creating user accounts
A large very well funded competitor has started creating user accounts on my SaaS. They target much larger businesses than us so I'm not too worried. We did recently have a customer come onboard after this large competitor "ghosted" them. I guess they were just too small to bother with.
What could the competitor hope to gain by snooping on our software and should we do anything about it?
I wouldn't overthink it. What likely happened is that they have a #competitors slack/teams channel (or something equivalent) and people are now checking it out of curiosity.
Thanks, that's a good point. Both people who created accounts are in their "growth" team so likely just checking out potential competitors but nothing sinister.
First of all, congratulations. I imagine if you came to your competitors field, they probably feel like you are a threat. So good for you.
Second, I would expect or a buyout, or they are just inspecting you out to see how much of a threat you are.
Both things are good.
Thanks, yes you are right. I just got scared with the attention.
What's the worst thing that could happen?
They could copy my product exactly and remove my advantage in the market.
This can always happen but rarely does.
And if they do it usually sucks because they don't have the same insights as you do.
Make sure you have some leverage that is hard to copy or just not interesting for the competition (as you said they don't go after small fish etc.)
Many possibilities. Curiosity, but also see how your product is evolving (features, UX, and roadmap).
Anyway, competition is a good thing. And you can never get rid of so play the race ;)
And as @Ladiesman217 you should be happy for that