Six Competitive Benchmarking Best Practices to Enhance Your Growth Strategy

Competitive Benchmarking Introduction • Competitive benchmarking is a strategic process that compares a company’s performance metrics with industry competitors • Helps businesses identify strengths, weaknesses, and opportunities for growth • Evaluates products, services, processes, and market performance to set internal benchmarks • Analyzes key performance indicators (KPIs) like market share, revenue growth, and customer satisfaction • Essential for staying competitive, improving efficiency, and driving continuous growth