Benchmarking gives your organisation context for setting better goals and objectives within the company. However, benchmarking isn’t always straightforward and isn’t always especially productive. How exactly is benchmarking supposed to work? And what are the biggest mistakes holding your organisation back?
What Is Benchmarking?
Benchmarking is the process of choosing industry metrics and performance statistics so that you can measure and compare your own business’s performance against them. For example, you might know that businesses in your industry have an average conversion rate of 1% for landing pages associated with PPC; with this knowledge, your 0.5% conversion rate might motivate you to make further improvements, or your 2% conversion rate might give you confidence that you’re doing things right. See details
