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Apples to Oranges: Beware the General Benchmark

This article originally appeared at Marketo Nation

Companies are unique, and that it includes your own. That’s why it’s important to look at it as an individual, rather than compare with other companies that their may be little to no relation.

Far too many companies fall into the trap of comparing themselves to other companies without taking into account key differentiators. Then, they go a step further by emulating their practices. Soon, it’s hard to decipher what made a given company unique to begin with.

Benchmarking has become a possible game changer for businesses. It allows for the analysis of data and statistics. A problematic side-effect of this however, is when companies start comparing themselves to other ones. It’s usually not accurate comparisons and why internal benchmarks need to be created. To do this, some things will need to be done, like defining what metrics you want to use, find out what’s in place now, and what’s wanted. Only then will benchmarks bring on the route to success and provide helpful information.

 

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