Benchmarking is the process of measuring the effectiveness of your product, service or process against those recognized as the best in one of those categories.
For instance, you might compare and contrast the brake pads your company makes against the industry’s best-selling or highest-rated brake pads in order to see how you might improve your product. But benchmarking can also be applied to other needs: when conducting a SWOT analysis, developing new products or brainstorming marketing ideas.
It’s a helpful tool when making purchasing decisions, too. Let’s say your company needs a new trade show booth. Use benchmarking to whittle down your options.
Start by conducting research while attending a trade show. Notice which booths catch your eye and draw you in. Ask show attendees for details on their booths. Talk with team members who work trade shows for your company. What do they dislike about your current booth? Which features would they prefer in the new booth? Once you know what you like, meet with booth manufacturers and ask pertinent questions.
We use benchmarking all the time. It can produce good information and allow us to make better choices for our clients. Let me know if I can help you apply the process to your work. | 
