Competitor Benchmarking
Competitor Benchmarking
COMPETITORS BENCHMARK How we can help?
Competitor Benchmarks, also known as competitor analysis, is a customer experience management (CXM) practice or a framework that weighs competitors and industry leaders and build on specific criteria to understand your organization's best practices and business opportunities. This process of identifying competitors in the industry, investigating various factors, and comparing their strengths and weaknesses is called benchmarking. We help our clients to focus on business objectives and thus ensure them through:
- Programs to provide important information about your competitive landscape and a better understanding of your position to stand out from competitors or improve them.
- Timely information on the point of reference of its clients compared to the way of proceeding of its competitors, and thus materialize the growth of our clients facing the current market in all its facets.
- Capabilities and knowledge to compare localized performance with that of the competition in all its brands.
- Action tracking capabilities ensure the outcome of your program maximizes value and drives change, setting you apart from your closest competitors and making a difference.
- Assessments from a brand-neutral perspective removing traditional bias in competitor programs.
- Evaluations from a brand-neutral perspective that eliminates the traditional bias in the programs of the competition, thus achieving a clear perspective of how to proceed.
COMPETITORS BENCHMARK
Our CX offerings
Program consultation and design
- Establish objectives, scope and priorities
- Identify key competitors for comparison
- Recommend optimised solutions
- Engage and co-create with stakeholders
- Design Programme Standards, Specifications and Site List documents
Data capture and action tracking
- Track and monitor field working
- Quality assess every assignment
- Respond to any frontline enquiries
- Allocate action tracking and monitor
- Escalate outstanding actions as required
Program creation and delivery
- Obtain client sign-off
- Set up Quality Assurance systems
- Evaluator Recruitment + Training
- Certify evaluators
- Set up KODOhub mobile application
- Schedule auditors to complete tasks
Reporting and analytics
- Generate all site reports and dispatch
- Populate GDX interactive Bi reporting compliance tool
- Undertake analysis of data collected
- Generate QBR (quarterly) reporting
- Present insights to stakeholders
- Apply learnings to enhance future waves
COMPETITORS BENCHMARK
What makes us different?
- We’re one of the biggest global competitor benchmarking companies.
- We are specializing in the provision of competitor benchmarking framework in CX and competitor benchmarking tools.
- We have been market leaders in CX Management for 27+ years with a global coverage in 105+ markets.
- Our inhouse system and platform methods ensure a unique solution for each of our clients.
- We are part of Sonata Software – India’s fastest growing IT Services business, with 5000 passionate technology professionals worldwide.
- We have strategic ongoing partnership with our clients and ISO9001 certification for quality assurance.
- We have full omni-channel capabilities that provide bespoke end-to-end customer journey insights and analytics that drive meaningful change.
Case Study
Key Details
GBW ensured the company could compete in an increasingly competitive sector through:
- A competitor benchmarking program for sports retailers.
- We completed an assessment of 107 Stores analyzed across 6 countries requiring a program to be set up in multiple languages.
- Countries covered: Singapore, Malaysia, Thailand , Philippines , Vietnam, Indonesia.
- Regional partner for delivering mystery shopping and competitor benchmark projects.
Frequently Asked Questions
Competitor benchmarking is a like-for-like comparison of competing companies against a set of predetermined brand-agnostic criteria, leading to analysis of the strengths and weaknesses of your competitors.
Our process of benchmarking competitors consists of:
- Conducting industry research for rate metrics.
- Identifying your competitors.
- Assessing each competitor across channels.
- Compiling a report of competitive metrics.
- Conducting the analysis.
By comparing your performance to your competitors you can understand your potential strengths, weaknesses and trends to come within the market.
From a competitive analysis perspective, this means carefully selecting the right competitors to compare your brand with. From a benchmarking perspective, it means identifying relevant key performance indicators and solving them.
Competitive Benchmarking Analysis is the analysis of the strengths and weaknesses of competitors in the industry. It provides a complete overview of how useful and important the approaches are in attaining the company's desired goals & objectives.
Competitive comparison analysis is the process of identifying competitors in your industry and researching each of their marketing strategies. Using this information as a starting point to identify the strengths and weaknesses of your company in relation to each competitor.
RELATED SERVICES
Looking for other services that can help you complete your CX experience? Have a look at our services offerings
- Mystery shopping - Understanding how your competitors deliver their products and services will lead to actions being required of your front line teams. Mystery shopping provides a detailed A-Z of the customer journey, and an in-depth understanding of performance in specific targeted scenarios.
- Voice of Customer - Increased competition in turn increases customer expectations as to the standards against which your business is compared. Tracking sentiment and feedback directly from your customers enables you to ascertain where improved external (competitor) performance needs to be addressed.
- Employee Engagement - Your frontline teams are the closest to your customers, and most likely receive feedback on an ongoing basis when products or services are falling short of expectations. With nowhere to share this invaluable insight - stress, discontent and ultimately staff turnover prevails. Use an employee engagement programme to hear first hand about these issues, and give your business an opportunity to rectify them in a timely manner before they have a long term impact.
Sonata GBW is a global technology company specialising in customer experience CX measurement, platform-based digital transformation, supporting businesses to become connected, open, intelligent and scalable. It has presence across USA, Canada, EMEA and APAC regions. If you would like to know more on how we can help you, please fill out the form.