How to use benchmarking in business

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The process described above applies to a variety of industries. It allows you to analyze, for example, the construction of competitors' products, suppliers used to reduce production costs, workspace optimization, and ROI (Return on Investment).

This study must be carried out with some care, following the pillars of benchmarking:

Legality;
Reciprocity;
Comparison;
Adaptation.
The pillars ensure that all information obtained is legal, shared equally (in the shop case of cooperative benchmarking, explained later in this article), will be used for comparison and incorporated into the company taking into account its particularities.

For digital marketing, understanding a competitor's behavior is half the battle to getting to know your target audience in depth and starting to communicate better with them.

From time to time, it's possible to notice a trend among brands to revamp their identities, both in terms of design and positioning.

It is common in these processes to identify a pioneer, a company that recognized an opportunity, incorporated it with good results, and is now followed by others in the sector.

This opportunity often arises from benchmarking with companies from different sectors, and this applies very well to digital marketing.

A clinic uniform company that needs more engagement on social media can take inspiration from initiatives taken by other companies to generate more interaction with the public.