What is benchmarking: definition, objectives and methods
Posted: Sat Apr 19, 2025 8:58 am
Details are everything. This also applies to your company's business strategy , especially if you're in a competitive environment (and, these days, what isn't?). The smallest differences can determine whether a customer will choose your products or those of a competitor.
Companies are constantly being evaluated against their competitors and are therefore forced to monitor the market closely. This is the only way to identify and capitalize on trends in a timely manner to gain a competitive advantage.
The name of this practice is benchmarking .
In this article, you'll learn what benchmarking is and how comparing your product with the competition can help you identify potential for improvement and stay ahead in the market.
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What is benchmarking ?
In an international market where competitors are constantly renewing themselves and seeking improvements, benchmarking emerges as a vital tool for companies that want not only to remain relevant but also to outperform their competitors.
Benchmarking is a research process that allows organizations to compare their operating processes, products, services, and practices with those considered the best companies in the industry: benchmarks. This systematic comparative analysis is not only about identifying who's at the top, but also about understanding what sales strategies and actions made such exceptional performance possible. The origin of the term "benchmark" dates back to surveying procedures, where a fixed reference point was marked to accurately measure altitudes. Initially, this involved making an incision in a stable surface, which served as the base for a measuring instrument. Over time, the concept was adopted in the corporate world and evolved into the practice of comparing companies' processes and performance with industry leaders. In the world of business and sales, the concept of benchmarking serves as a guide for strategically planning a company's actions. By analyzing the leading companies in their sector, it's possible to identify performance gaps within one's own operations business owner database and create a roadmap to achieve—or even exceed—these standards of excellence. It's not just about imitating what your competitors are doing well, but about internalizing the fundamental insights of their business strategy and adapting them to your company's unique reality, improving your own sales , customer relationship management , and product development processes.
.
Benchmarking
Benchmarking goes beyond mere passive observation; it requires critical analysis and a commitment to continuous improvement.
It has become an essential tool for detecting high and low points in business performance, comparing them with market standards of excellence, and revealing both what is working well and what needs improvement.
Companies are constantly being evaluated against their competitors and are therefore forced to monitor the market closely. This is the only way to identify and capitalize on trends in a timely manner to gain a competitive advantage.
The name of this practice is benchmarking .
In this article, you'll learn what benchmarking is and how comparing your product with the competition can help you identify potential for improvement and stay ahead in the market.
Competitor Analysis Template
Download your free competitor analysis template here.
Work email
Send for me
Your data is processed in accordance with our privacy notice . You can unsubscribe at any time.
What is benchmarking ?
In an international market where competitors are constantly renewing themselves and seeking improvements, benchmarking emerges as a vital tool for companies that want not only to remain relevant but also to outperform their competitors.
Benchmarking is a research process that allows organizations to compare their operating processes, products, services, and practices with those considered the best companies in the industry: benchmarks. This systematic comparative analysis is not only about identifying who's at the top, but also about understanding what sales strategies and actions made such exceptional performance possible. The origin of the term "benchmark" dates back to surveying procedures, where a fixed reference point was marked to accurately measure altitudes. Initially, this involved making an incision in a stable surface, which served as the base for a measuring instrument. Over time, the concept was adopted in the corporate world and evolved into the practice of comparing companies' processes and performance with industry leaders. In the world of business and sales, the concept of benchmarking serves as a guide for strategically planning a company's actions. By analyzing the leading companies in their sector, it's possible to identify performance gaps within one's own operations business owner database and create a roadmap to achieve—or even exceed—these standards of excellence. It's not just about imitating what your competitors are doing well, but about internalizing the fundamental insights of their business strategy and adapting them to your company's unique reality, improving your own sales , customer relationship management , and product development processes.
.
Benchmarking
Benchmarking goes beyond mere passive observation; it requires critical analysis and a commitment to continuous improvement.
It has become an essential tool for detecting high and low points in business performance, comparing them with market standards of excellence, and revealing both what is working well and what needs improvement.