Benchmarking is an important tool in every marketer’s toolbox, used to answer questions critical to success.
What are we doing that’s working? Where can we improve? And how do we stack up to our competitors? Without benchmarks, it’s impossible to know how your marketing efforts measure up.
In our latest webinar, co-founder Seth Bridges sat down with Cat Sprague from TBD Media to talk more about benchmarking and why it’s more important than ever in this golden age of analytics.
Cat and Seth walked us through what it means to benchmark. They also discussed how frequently we should be reporting against the benchmarks we set, and the different types of benchmarking (like internal benchmarking, and competitive vs. aspirational benchmarking).
Together, they delved into the following topics:
- Why benchmarking is an important part of designing a social media strategy
- Competitive vs. aspirational benchmarking
- Tips on how to interpret benchmarks and translate them into actionable insights
- And so much more…
Marketers can use Rival IQ’s Explore tool to benchmark against industry heavyweights in 18 segments (with more added regularly), discover your competitors’ most highly engaging content, and analyze 30 days’ past social performance so you can tailor your marketing strategy in real-time.
To get started now, use our Ultimate Social Media Competitive Analysis Template, a step-by-step guide to auditing and benchmarking your social media and seeing how it compares to your competitors’.