This is a skill marketers should adopt, continuously benchmarking. benchmarking is identifying older performance from competitors or your own, and then comparing current performance against it.
This creates a tension around finding areas to improve and helps prioritize the changes to get there.
The process to create your own benchmarks is simple.
- Go in to your analytics platform
- Select data for the last quarter
- Write down the average performance
- Now use this as your benchmark for all new pieces of content
- once a new piece of content is live, after 48 hours of data, compare to the benchmark
- If it is below, make adjustments.
Other protocols are:
- Complete this every month, with content going in to a ‘rework’ basket
- Complete this every quarter
Things to benchmark on
- Number of visits
- Social engagement
As a rule of thumb, broader metrics like attention are easier to benchmark, but narrower or lower funnel activity requires a longer duration or scale.
Don’t think about this as limited to the content department. At a macro marketing analytics level, benchmarking should be done across the board.