Using benchmarks allow you to see where you are and where you want to be. You can see what gaps your strategy has and what you might do to fill those gaps and earn more favorable results.
In order to compare businesses, marketers use key performance indicators, or KPIs. These metrics measure whether or not a business is on track to meet its goals.
Below is a list of metrics marketers may measure to see where they land:
- Conversion rate
- Follower growth
- Number of leads
- Number of page views
- Revenue growth
- Subscriber growth
In order to make sure your company is growing the way you want, you need to keep track of your competitors’ numbers, as well as your own numbers, regularly. By taking a close look at analytics and adjusting your strategy accordingly, you can stay on top of your competition.