Do you know why benchmarking is more and more popular? 

Benchmarking refers to the process of analyzing and evaluating the differences between your company and your competitors. With this information, you will be able to understand the differences between you and your competitors, the similarities between you and them, and what you are doing that your competitors are not doing. Benchmarking offers a great look inside, and the companies that implement it tend to come out much stronger.

The importance of benchmarking can be understood by looking at its history.

A brief history of benchmarking

Benchmarking - What does it mean?

It is a systematic and continuous process for evaluating and analyzing products, services, and processes in an organization. Besides analyzing the competition or the company itself, it is also important to compare the conclusions with the best practices that an industry has at a given time.

There are different types of benchmarking based on what is being measured.

Aspirational: Get ideas from leading companies in the market, who may or may not be your direct competitors, but can help you understand where marketing and communication are going in the future. 

Trends: Previous activities are used to establish goals, projections, and standards. 

Earned: Marketing efforts are judged based on the success they achieve.

Competitive: Performance and growth targets are determined based on direct competitors.

Why is benchmarking important?  

• Analyze ourselves: Examine what our strategy is and how we are competing in the market. 

• Our positioning: Establish new digital channels that allow us to reach more and more audiences and expand our activity in a rapidly growing market.

• Develop ourselves: To improve our processes, our value proposition, nd make adjustments based on what our direct competitors are doing.