Meta Description : Benchmarking Marketing helps you orient your strategies to achieve your goals. It is a question of capturing good practices in various sectors, to adapt them in your process by bringing an innovative touch.
Benchmark marketing is used to improve your action plan decision -making. It allows you to measure the performance of your business on all aspects. All the links that structure your business can be "benchmarker". Its advantages are obvious. To help you set up an effective benchmark, we will talk about the methodology and the tools to carry it out.
Benchmark is a marketing technique born in the early 1980s. It consists in carrying out a comparative study of the methods of management and organization of competing or "not" companies. The goal is to draw the positive to adapt it in its own process . Benchmark is recognized by companies, as being an effective tool to remain competitive. It differs from the competitive analysis by the extent of the activity sectors it supports. Indeed, unlike competitive analysis , benchmark confronts performance beyond competition.
What are the different types of marketing ?
Why do a marketing ?
Doing a benchmark is interesting, as it allows you to compare performances and follow market developments . Not only in terms of products, but also in terms of organization. You can improve your action plan by identifying good practices in terms of: specific opportunities, customer needs, performance objectives.
Benchmark can intervene when you want to improve your positioning on the Internet, your commercial strategy , or your customer relationship.
How to make a marketing ?
Identification of areas for improvement
In this first step, the objective is to identify areas to improve and targets to achieve within your company. The diagnosis can be made from different points of view: production, purchasing, sales, logistics, etc.
Specify and critically assess your performance by editing a relevant questionnaire . The importance of this phase lies in the fact that it allows you to frame your marketing . At the end of this stage, you will get the indicators to analyze and compare with other companies .
Choice of companies to study
This second step constitutes the heart of your benchmark. It consists of identifying effective tactics used by other companies. The choice of the panel of companies is free: competitor or non-competitor, multinational or start-up, etc. But to avoid information overload, stick to no more than 5 companies . However, it is important to base the selection criteria on the performance of the organizations in relation to the areas for improvement that you have pre-established.
To assess them, base yourself on reliable sources of information such as the press, study results, sales and customer opinions, social networks , government sites for financial statements, etc.
Data collection and analysis
This phase leads you to define the errors in your strategy . The ideal in each step of the benchmark is to express the results in figures and classify them in a table . This makes it easier to visualize. This method is all the more valid for this stage to the extent that each criterion is analyzed. structured work organization is essential.
The statistics are crossed to mark the results differences and identify the indicators that limit progression . For information, it is necessary to collaborate with "non-concurrent" companies, in the context of information exchanges . For your competitors, you can examine information via social media , financial sites, presence on the web, etc.
Structuring the strategy
After having compiled and then synthesized the results , it is time to integrate . This step is not about “copying and pasting”, it is about drawing inspiration from these strong points to adapt them to your process . Actions are carried out in a specific and concrete manner while respecting the defined objectives . To do this, develop a detailed plan , based on the lessons learned .
Communicate results
Sharing information is part of the process. The summary of key results , conclusions and recommendations are presented to each manager in the form of a report. By highlighting the company's objectives.
What tools to use to make a marketing ?
Benchmarking is a tedious job that requires the use of appropriate tools. It is possible to use an Excel or dedicated online tools .
The digital benchmark
Benchmarking is essential in the digital field to identify the best digital tools and web marketing strategies .
The digital benchmark involves studying the content of other organizations, their investments in terms of SEO , their digital strategies , the structure of their sites , etc. The goal is not to imitate, but to adapt best practices taking into account your audience .
Benchmarking marketing is an inspiration for your business. It demonstrates the gaps, but can also prove that you are a leader in your field.
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