Marketing Research > Benchmarking
What is Benchmarking?
Benchmarking is the process of comparing your company against others in your industry or in the broader marketplace. Benchmarking is a form of competitive analysis that can be used to understand your performance in a specific market segment, relative to peers, to help you set growth goals and uncover industry trends. A variety of KPIs can be used in bechmarking, including Alexa Rank, monthly unique visitors, visitor demographics, share of voice, social shares, backlinks, and more.
Some organizations benchmark as a means of both improving discrete areas of their business and monitoring competitor’s shifting strategies and approaches. Regardless of the motivation, cultivating an external view of your industry and competitors is a valuable part of managing in this world of change Click & Tweet! .
–Benchmarking Overview, Practices and Approaches in Business
Benchmarking Resources
For more information:
Benchmarking Overview, Practices and Approaches in Business, by John Reh, The Balance
5 Ways to Benchmark Your Organic and Paid Keyword Strategies Against the Competition, by Tom Treanor, Alexa
About Benchmarking—Compare your property’s performance to that of your industry peers, Google
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