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Benchmarking & tracking

Benchmarking is about choosing a basis for comparison to evaluate how efficiently and effectively tasks in a business can be implemented and is a guide for a company in creating improvements.

A range of metrics to provide strategic and timely insights into:

  • Ongoing benchmarking of an organisation’s products’/services’ or local councils’ performance against national and local aggregate metrics.
  • Customers can rate satisfaction with sales representatives who are benchmarked against others, therefore a useful metric for measurement of employee performance.
  • Continual tracking to act as an early warning system to inform of important changes in category, consumer or brand perceptions over time.

Tracking and monitoring is a way to design decisions for strategic systems and is a way to specify what information measures are needed on each of the key variables and whether implementation remains on schedule. Tracking is also useful as a warning system and problem diagnosis tool. It is highly important in examining the relevance, accuracy and costs.

A strategic monitoring system should be able to answer these six questions:

  1. What are the changes in environment that have negatively affected current strategy?
  2. What are the changes made in strategies and objectives created by competitors?
  3. What changes have happened in the industry ranging from entry barriers or substitute products?
  4. Are there new opportunities or threats that have been created from changing environment?
  5. What changes have occurred in key success factors?
  6. Is a business strategy consistent with changes?

newfocus can help track customer satisfaction, brand awareness, advertising awareness, trial, repeat buying processes and customer brand perceptions and attitudes.

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