research process among companies that are from the same sector to analyze how their products, services and processes are doing towards competitors. It’s way to encourage businesses to think beyond their limitations and increase their competitiveness exponentially.
Overall, each company identifies the factors that impact their performance and then sets metrics for key performance indicators (KPIs) of the industry or market in relation to those factors.
In Digital Marketing, benchmarking can be done for specific aspects within this segment, such as understanding which search marketing practices, social media or email marketing are being used most, and which give greater return.
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