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In principle, benchmarking refers to a comparison or a standard of comparison. This means that certain objects, processes, methods, products or services are compared with a previously defined benchmark. It is thus an instrument for comparison and analysis.
In detail, this means that the company’s own performance is compared with that of an external company or with other company performance. The yardsticks used for the comparison are also called benchmarks. They are thus the “best practices” that also serve as a guide. The benchmarking process is not a one-time process, but a continuous analysis.
The difference is quite simple. While benchmarking describes the process of analysis, a benchmark is the standard of comparison. This means that a benchmark is the object, performance, process or method to which you compare your own object, performance, etc. So, in order to be able to perform the complete process, you need to establish a benchmark that serves as your object of comparison.
Roughly speaking, a distinction is made between internal and external benchmarking. This means that internal benchmarking compares processes, services, products, etc. within a company. External benchmarking, on the other hand, is about comparing one’s own company with other companies. External benchmarking can take place in different ways:
According to Michael J. Spendolini, there are five phases or steps of benchmarking.
In this cycle you can see the benchmarking process again visually:
Here, too, the cycle always starts with planning and ends with adjustments. However, “end” is not quite the correct term, as benchmarking is a continuous process that always starts again from the beginning.
The primary goal of a benchmark is, of course, the continuous optimization of one’s own processes, services, products, etc.. In addition, the whole thing serves a kind of quality management. Through the internal and external comparisons, you receive a status quo of your object as an actual value and the target value of the comparison object. So you can see which potential can be exploited and where you should improve.
The goals of benchmarking can be the following:
Reveal optimization potentials
Stimulate innovation processes
Optimize product development processes
Identify savings potentials
Quality management
Increase (marketing) efficiency
It is helpful to continuously analyze your website in order to be successful and visible on the web. Looking at best practices in the market will also help you. What works better here? Where can you optimize your own site? With the help of benchmarking, you will find out just that and thus manage to improve your site. This in turn helps you to generate more visits and can have a positive influence on your ranking.
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