What is the main goal of benchmarking in marketing

The goal is to evaluate performance against competitors or industry standards and identify areas for improvement.

How often should benchmarking be done

Benchmarking should be done regularly. Reviewing your data every few months helps you track trends and stay competitive.

What metrics are used in benchmarking

Common metrics include conversion rates, retention rates, customer acquisition costs, engagement rates, and revenue per user.

What is the difference between competitive and internal benchmarking

Competitive benchmarking compares your company with others in the market, while internal benchmarking compares performance within your own organization.

Does benchmarking guarantee improvement

Benchmarking provides insights and direction. The improvement depends on how effectively the insights are applied.

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