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When it comes to seeing how you stack up against the competition, one good measure of an industry is benchmarking. With benchmarking, you can’t compare yourself to specific competitors like you can with other types of comparison, but what you can measure is just as important. A good benchmarking tool will put your company side by side with industry averages on important statistics like web traffic, bounce rate, and conversions.

This is important information because benchmarking statistics are compiled from individual companies within a niche, but rolled up into an average for the aggregated whole. It allows you to measure you against the playing field.

With benchmarking, you can see whether you are above the average company within your field for each important statistic or below the average. Then you can tweak what you need to tweak to move your company in the right direction. Don’t overlook benchmarking when you conduct your competitive intelligence research.

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