How do we do benchmarking

Policies, Terms of Service, and Income Disclosure. Start your day free trial. Kajabi will use your data to personalize and improve your Kajabi experience and to send you information about Kajabi. You can change your communication preferences anytime. We may use your data as described in our Privacy Policy. Want to see what Kajabi can do?

Watch a demo! Make sure you list all your goals in your marketing plan. Continuously monitor the results of the benchmarking efforts and ensure the actions are consistently applied. Create a one-page action plan using our template. You can include your action plan in your business plan. What is benchmarking? Benefits of benchmarking your performance Benchmarking allows you to: identify and prioritise parts of your business that could improve understand your customers' needs better identify your strengths and weaknesses set goals and performance expectations monitor your performance and manage change more effectively understand your competitors to become more competitive.

How to benchmark your business performance Follow these steps to benchmark your business against your competitors: 1.

Identify what you're going to benchmark Create targeted and specific questions that: you can explore using qualitative or quantitative research efforts align with your business strategy.

The only downside is the best tools are paid. Keeping with public data, information on share of voice across online channels and social media metrics can be measured as well. Private data is much harder to get a hold of. Companies can be very cagey about the data they release.

Do your research. Look out for sales reports, news articles, and press releases to see what info businesses are releasing you could use Brandwatch for that too. If you can find some regular releases, you may have something for your benchmarking. Meanwhile, Companies House is a good place to look for larger companies. Another option is to conduct your own research. Carrying out benchmarking surveys mean you can ask the exact questions you want from the exact people you want. This could be done openly or privately depending on which is best and will give you valuable insight.

It can be a costly process, but if done right the returns will outweigh the costs. Offering up analysis and data on everything from the events of the day to the latest consumer trends. By Gemma Hall Jul By Sabrina Dorronsoro Jul 1.

By Gemma Joyce Jun 3. We use cookies to improve your experience and give you personalized content. Do you agree to our cookie policy? By using our site you agree to our use of cookies — I Agree.

From May 8th, all Crimson Hexagon products are now on the Brandwatch website. Instant Registration. Marketing Published September 14 th The benefits are clear. How to choose your competitive benchmarks With so much scope on what can be included, how do you even choose your competitive benchmarks? How to choose competitors to benchmark against There are plenty of different approaches here.