Common areas that you may want to target for benchmarking analysis include cost per unit, time to produce each unit, quality of each unit, and customer satisfaction.
The performance metrics you get from these targets can be compared against others to help you determine best practices for improving your operations..
A call center might benchmark its customer satisfaction rating by asking customers to rate their service based on their experiences.
They might also collect data about waiting times, call lengths, first contact resolution rating, occupancy and shrinkage.Jul 21, 2022.
Let us say it takes your company, called ABC to complete a process in 1 hour.
Comparing it to a similar industry, you find that the other company, called XYZ, completes the process in 45 minutes.
This means it takes your company 15 minutes more to complete that process..
Here are some examples of ways companies can use benchmarking to achieve specific results:
Digital benchmarking covers everything from keywords to conversion and ROI (return on investment) and can be applied to any data point.
The overall goal is to assess your digital activity’s impact on your overall business performance and how it matches up to direct competitors.
