What is benchmarking? It’s the process of analyzing your competitors to improve your own marketing strategy and differentiate your business. Benchmarking helps you understand what others do well, so you can innovate and stand out—without simply copying them.
Types of benchmarking
- Internal: Compare departments or branches within your own company to identify best practices.
- External: Analyze direct competitors to set reference points and improve your strategy.
- Functional: Study companies in other regions or industries to find new ideas and expand your reach.
Benchmarking process
- Define what you want to change (internal, external, or functional benchmarking).
- Build your team and assign roles.
- Identify and analyze your competitors.
- Interpret the data and draw conclusions.
- Apply changes and measure results.
Benefits of benchmarking
- Improves your SEO by analyzing competitors’ keywords.
- Helps you understand your target audience better.
- Identifies areas to improve your marketing strategy.
- Gives you insight into your competitors’ resources and tactics.
Useful benchmarking tools
Conclusion
Benchmarking isn’t about copying—it’s about learning, innovating, and finding your place in the market. Use it to improve your results and stay ahead of the competition.
