To stand out from your competitors in a fierce market, benchmarking is essential. The process is a long-term one and involves comparing key business metrics with those of your industry competitors. While this might seem like a complicated process, there are numerous benefits such as peer network building, continual improvement insights and staying ahead of the curve with market innovation and new opportunities.
Ways to help you deal with it:
Other support that's available
Monitoring your competitors
Monitoring your competitors
Competitor analysis can help you get ahead in a crowded market, but where should you begin? These analysis tools from Brandwatch are a good place to start.
Understanding competitive benchmarking
Understanding competitive benchmarking
Get to grips with competitive benchmarking to discover where your business stands in the market and how you can improve your position.
How other businesses have tackled something similar

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Learn from competitors to avoid mistakes and spot opportunities
Learning from competitors is vital to avoiding mistakes and identifying gaps in the market for Freda, an ethical sanitary product business..
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