How benchmarking can help with digital marketing strategies

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If you’ve ever heard the phrase “keep your friends close and your enemies closer,” you already have a brief insight into benchmarking.

Of course, we do not consider competition an enemy, the comparison with the popular saying was just to illustrate the concept.

What we need to strongly consider is the adoption of benchmarking as a strategy for digital marketing actions . Let's spy on the “enemy” and compare it with what we do.

But to do this, you need to understand exactly what benchmarking proposes and how to use this strategy. To do this, in this post we will cover some important topics for understanding this practice. Stay tuned!

After all, what is benchmarking?
people doing competitor analysis

Benchmarking is a practice that consists of making an assessment of croatia whatsapp number database based on a comparison with a competitor. For example: a supermarket assesses why it sold less than its competitor a certain product, which was at the same price.

What can he find out?

the competition's advertising actions are better, because they are well planned and well targeted at the target audience;
the competitor displayed the product better on its shelves;
the other company trained its staff to “remind” consumers about the offer and the special price of the product;
the competition highlighted the product on their website, etc.
With this comparison, in the next sales campaign for product X, greater attention will be given to strategic actions that can make the difference for sales success.

Just like positive results, what didn’t work can also serve as an example. If the competition directed an action that didn’t work, this also serves as a lesson and as a warning to “don’t do that”.

Why is this comparative analysis important?

First, for the reasons given above. Second, because while the analysis is being carried out, several insights for the business may emerge, and even a gap that could be an opportunity to boost sales, launch a new product or service, etc.

Types of benchmarking


There are six types of benchmarking:

internal: which compares key performance indicators (KPIs) within the company itself and which is highly recommended when the aim is to establish performance standards for the entire team;
external: which compares strategies with other companies and gives an overview of how your company fits into the market and what its strengths and weaknesses are;
performance: can be done internally or externally and its focus is on analyzing metrics and establishing performance standards;
Competitive: This type of analysis focuses on direct competitors and is more difficult to do because it depends on approaching a competitor. However, when possible, it can provide valuable information about where your company can improve;
strategic: external, this type focuses on identifying and evaluating the competitor's successful strategies. It also serves to see where the competitor went wrong and not make the same mistake, or, improve the process and be successful;
practical: also internal, this type helps to map processes and identify performance gaps.