Based on the research results, it is necessary to identify the best technologies. Strategies and practices used by competitors and determine the pool of actions that are effective for them. Analysis of the obtained data .
And here it is worth determining which ones are applicable in your activities. And will help in achieving the formulated business goals.
Ideally, work at this stage should be structured as follows:
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- Presentation of collected information in local marketing email list a visual form – create graphs, statistics, add examples of reference companies;
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- examining metrics and indicators such as customer satisfaction, competitors’ costs, marketing strategy, and other indicators that you noted in Step 2 as necessary for qualitative analysis;
- search for the reasons that allowed the standards to obtain better results.
Step 6: Conclusions and development of an action plan
The conclusions you come to as a result of the work done should answer three main questions: “What has your company achieved?”, “How did the competitor achieve high positions?”, “How can successful practices be adapted to your business?”
But all this will remain just another “document on the desk” if you do not develop an action plan to achieve your goals, taking into account the information obtained as a result of benchmarking.
Here:
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- Don’t copy ideas without deep analysis top 5 sales improvement tips from q1 podcast episodes and understanding why you need to implement them. Successful cases are just a reference, not a template;
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- it is more important to take into account the behavior of the target audience, its needs. After all, you are creating a product for your potential and current customers;
- There is no need to blindly adopt all the experience or study all the indicators – act consistently, highlight specific indicators, with an understanding of why you are doing this.
How to apply the gained experience in practice
The results of the conduct research will need to be adapt to your needs: adjust or change the business strategy and a number of related processes.
Testing and piloting are one way to test such transformations.
But adopted practices do not always lead mobile lead to improvements: let’s look at two examples of benchmarking products that are different in essence and results.
Example #1: Changing the Yandex interface
Yandex studies global practices and adds important details to its interface.Specialists analyze how users interact with search results, visual elements, and navigation.
For example, Yandex added new functions (“Maps”) to the interface, as well as interactive elements.
The redesign in question change the look of the main page .It became more “free”, without a clutter of elements, where all attention is pay to the user’s main task – searching.
In particular, it became possible to ask a question using text. A picture or a voice, and news “moved” to the Zen page.
Then, generative neural networks YaLM were introduc into the search. A new type of quick answers appear. When users can study the topic of the request from the first lines of the search results.