on October 20, 2022 • 4 minute read
Have you ever asked yourself one of these questions?
– “How does our marketing stack up against our competitors?”
– “Are our salespeople as productive as reps from similar companies?
– “Are our profit margins as high as our peers?”
For some companies, the only data you can get to compare yourself comes from big market research firms, and as accurate as it is, it rarely gives you the precise answers you need. You don’t know if the size of those companies or their field of expertise or the number of clients match yours in a way that is relevant, thus the numbers you get might be of little to no use.
For other companies, there is no budget for that kind of research and that kind of data. You’re left Googling things like, “What is a good landing page conversion rate?” or asking your Twitter followers, “What’s a normal number for CPA?”
This is where Databox Benchmark Groups come in—it allows you to instantly (and more importantly, anonymously) compare your company’s performance against groups of similar companies. And did we mention that it’s free?
But wait, there is so much more –
Well, it is far simpler than you might imagine.
Benchmark Groups are completely free to access in exchange for an email address.
And don’t worry, the data you provide is 100% anonymized. This means that no other company can see your performance, and you won’t be able to see the performance of individual companies either. And, of course, you have the option to opt-out at any time. But we are quite sure that you won’t want to. 😉
Now when it comes to accessibility – open groups are accessible to any business that fits group criteria. This means you’ll be able to instantly benchmark your performance against a wide group of similar businesses. You can benchmark your performance data from any of the 50+ popular software tools by simply joining groups of companies like yours (industry, size, etc).
There is one more added bonus… all Benchmark Groups users are given access to a free Databox plan. And if you are already a Databox customer – you don’t even have to reconnect your data sources!
If you are still wondering why you might want to create or join a Benchmark Group, here are just some of the key benefits that you can expect once you are in –
This allows you to explore benchmarks for dozens of metrics, built on anonymized data from thousands of companies. One of the key benefits here is that, unlike niche benchmarking tools that only offer insight into a single area of your business, Databox Benchmark Groups gives you a full 360° view of your company’s KPIs across sales, marketing, finance, and more.
This type of information lets you leverage industry insights to set more effective, competitive business strategies. And, even more importantly it helps you explore where there is room for growth within your business based on objective market data. That way you can swiftly adjust your resources accordingly.
It is often hard to prove your agency’s results to clients as they might not be familiar with the industry data and, well, benchmarks. But now you can show them where you’re helping them overperform against similar companies. And not only that, but you can also use the data to show prospects where they really are… and the potential of where they could be. Finally, thanks to great visualizations you can easily use benchmark data in blog and video content, research reports, sales and demo materials, as well as investor pitches.
More data is always good, but being able to see how you stack against other companies gives you the most valuable insights into areas that need more work. This definitely provides you with far more context for strategic planning. And it is always good to collaborate your hunch with data, even if it is using benchmarks as a validation tool for gut feelings about specific performance metrics.
All that is left is for you to join a Databox Benchmark Group today!
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