Marketing Performance Benchmarking

What is this method about?

A research activity that determines the effectiveness of your marketing efforts compared to best practices and competitors within your industry.

Why use it

The activity allows organizations to view their marketing efforts within the broader context of their industry—providing stakeholders with insights into what competitors are doing and establishing benchmarks that can help guide future marketing efforts. When to use Whenever there is a need or desire to assess an organization’s marketing performance. Once the initial benchmarking exercise has been undertaken, measurement should be done on a regular basis as the organization and marketplace evolve—preferably every two to three years.

When should I use it?

Whenever an organisation wants to understand how its marketing compares with competitors and best practice, usually as part of annual planning or before setting new marketing targets.

What you get

Stakeholders will develop a deeper understanding of how the organization is performing against others in terms of the marketing processes and capabilities. Stakeholders will gain insights into best practices within the industry. The organization will determine a set of action steps that will help to improve performance in key areas and set performance targets.

At a glance

• Time: Extended
• Effort: High
• Cost: Medium

Materials

• Markers/felt tips
• Whiteboard
• Sticky notes (optional)
• Meeting room/workshop area

Who is involved

• CX Researcher/External research company
• Marketing Manager
• Product Owners
• Product Development Manager
• Channel Managers