Benchmarking helps you to better evaluate the strengths and weaknesses of your marketing by giving your results context, which is why we at fastmap believe in the power of benchmarking in all its forms.
Research shows that 84% of organisations across the globe use benchmarking. But how can you ensure you are getting the most out of your campaign, market research or competitor analysis data? In this guide we also delve into:
- Benchmarking in business – how to set benchmarks that will really help improve your marketing
- What types of benchmarking data exists and how to access it
- The 3 steps that will help you get your benchmarking started: The Metric, The Meaning and The Medium
- Some examples of when we find competitive benchmarking to be useful, including: creative testing, DRTV testing, legacy giving and post-GDPR consent optimisation for businesses in a range of industries.
Competitive benchmarking in business can be used in many different ways: from campaign testing and concept testing; to evaluation and improvement of existing content, promotions and processes.
In this guide we also discuss:
- Creating benchmarks from internal data to inform your campaign strategy
- Using benchmarking data from competitor analysis to see how your campaigns are performing well in relation to your competition in order to understand what areas you need to improve in order to get ahead
- Using market research into industry benchmarks to rate and improve your businesses performance.
This guide was created to introduce you to the benefits of competitve benchmarking for improvement of marketing campaigns and processes and is available as a complimentary PDF download.
If you would like to have a conversation about our competitive benchmarking expertise or have any follow up questions for us please do not hesitate to get in touch with David Cole, Managing Director, fastmap on +44 (0) 20 7242 0702, firstname.lastname@example.org.