What is industry benchmarking, and why is it important?
Industry benchmarking is the process of measuring the performance of different brands within an industry against one another in order to determine where your brand stands in comparison with the goal of improvement.
One of the most important resources available to growing brands is industry benchmarking data. It can help your brand define growth goals for important performance metrics like brand awareness, brand consideration, brand associations, brand preference, and more.
What to remember when setting up industry benchmarking
The point of benchmarking is to identify internal opportunities for improvement
Brands need to be careful and thoughtful about which companies they choose to benchmark themselves against
Choose brands that make sense for your company’s long-term goals and objectives
Industry benchmarking data can be useful for brands of all sizes
Industry Benchmarking With Latana
Latana is equipped with an industry benchmarking functionality that provides access to your own company’s brand KPI data, as well as that of your competitors. The data is presented in an interactive dashboard, seen as an average line across your selected brands. Brands can easily use our industry benchmarking to see how they compare to relevant competitors — and how much room they have to grow.
Learn from audience opinions and competitor performance
Discover which factors motivate consumers to consider brands
Segment data by location, income, gender, education level
How Latana's industry insights can help your brand
Our product provides brands with access to widespread awareness benchmarking data of up to 20 brands in various categories. Data sets included are:
Our data quality
promise to you
At Latana, our main focus is on providing quality data you can trust. Our advanced, non-incentivized sampling and machine-learning modeling provide you with unmatched data quality that you can reliably base marketing decisions on.
See how industry leaders are using Latana to improve brand performance.