Why bench-marking is important for your startup business? | Cord

  WHY BENCHMARKING IS IMPORTANT FOR YOUR STARTUP BUSINESS?

Why Benchmarking is important for your start up business ?

If you have started a new business or if you currently have your own business & decided to implement the marketing recommendations of utilizing social media to work for your business, you can easily get lost in the desert of marketing strategies, different schools of content creation, styles and trends.

However to draw your road map you have to study & research best practices from other companies in your field especially the most influencing ones

Here comes the role of benchmarking, first you need to understand why some companies are successful more than other ones, & it goes the same for their marketing campaigns?

In such a matter you will need to know how well they target their customer & how effective are their campaigns, that’s the key point for building a successful & profitable business, many businesses strive for latest trends & technologies in their marketing strategies, but effectiveness here is the what gets a business rise or fail.

So now, you can ask how to apply the benchmarking in your strategy, simple, you are going to measure the quality, objectives, time and cost, process of best practice and compare the results to your results and processes.

Of course, you will carry on these researches using a specific indicator such as (cost per unit of measurement, productivity per unit of measure, the cycle time of x per unit of measure or defects per unit of measure) has a mathematical comparison with the resulted numbers.

Although this process is essential at the starting of the new business or campaign, it will be repeated over and over as long as you continue marketing your business, to show you the rank of the marketing efforts & give you always a competitive boost.

Read more about Conversion Rate Optimization

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