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Benchmarking Tools that Offer Value
In today's competitive environment information is key to staying ahead of the pack.
By using benchmarking as a tool to offer value to your customer, it will also deliver your own organisation a significant competitive advantage.
Using benchmarking to Offer Value
The reality is organisations need to know how they compare in the market and where they should be heading to achieve ‘best practice’.
At Benchmarking Solutions we offer the tools to achieve this objective. We specialise in measuring performance, collecting key data on behalf of consultants, industry associations or organisations to deliver solutions for their members.
If your organization does not use this as a huge opportunity to offer value to your customers then chances are someone else will.
If you are looking for a competitive advantage or to add value and create stronger business relationships with your customers or industry members ...
... here is your opportunity.
Let’s look at a scenario!
A Wholesaler's Dilemma
They are facing increased competition from new companies entering the marketplace.
The competitors are aggressively poaching customers offering high levels of service and lower prices.
They are facing the real risk customers could walk out the door - they need to do something more to retain, or even expand, their customer base by offering added value.
They must not only keep their customers loyal but also need to maintain company margins.
This wholesaler could consider providing 'key information' about their clients' business performance to add value to their offering.
By delivering quality benchmarking that confidentially compares their customers performance, they can assist their customers to identify critical information about their businesses.
Creating a benchmark survey with Benchmarking Solutions will enable the wholesaler to compare key business statistics for their customers and also identify what constitutes best practice for the industry.
This information should not be generic or non-specific clichés. Opportunity for leadership exist in key areas such as wages, costs, pricing, financial performance, industry trends or best practices - the sort of information ALL businesses want and need.
They need to produce meaningful and individualized reports outlining the specific strengths and weaknesses of each customer. This is where the Benchmarking Solutions system shines.
Offering value like this, the organization will no longer be viewed a 'just a wholesaler', they also become a valued 'information leader' to their customers and, importantly, to potential customers.
The net result - the wholesaler has a significant competitive advantage and a strong value proposition for their clients.
Benchmarking Solutions offers opportunity for all businesses to become information leaders in their respective industries. Critically, the customers are assured that all information is delivered in a totally private and confidential manner such that no individual can view or access information of another participant.
Most people think of benchmarking as tedious statistics and confusing tables. Think again!
Market research is an important first step to help spot key company problems or gaps in the market which can create tremendous opportunity.
Consider what information your customers are looking for:
Are their wages higher than average?
Is their quarterly growth consistent with the rest of the industry?
Are their costs or margins within ‘best practice’ standards?
How do their fees or pricing compare to the rest?
How has business improved in the past five years compared to rivals?
Market intelligence is crucial to any business. Your customers or members will jump at the chance to acquire the information they crave.
Solutions and Opportunities
When it comes to measuring business performance your opportunities are unlimited but you need help from a company that has done it all before.
Tap into the experience of Benchmarking Solutions!
We have standardised templates ready to go for tracking a range of performance indicators including Fees, Pricing, Margins, Growth, Profitability, KPI’s, Costs, Wages & Salaries and more. Any of these can be rolled out rapidly if you need timely results.
On the other hand, if you require more advanced or specialised industry-specific indicators we can also offer fully customised solutions to tackle the needs of your customers.
We love a challenge so call us to get your unique and highly valued market research up and running today.
Our solution, your brand
We have been benchmarking for over 10 years and can offer your company complete solutions to deliver market intelligence.
We totally understand your need to present value to your customers. Likewise, our objective is to present value to your organisation as our customer.
Our solutions are designed professionally and implemented by us but everything we create is branded as your offering.
Our core business is offering organisations like yours the tools to deliver fully branded solutions to your customers or members.
On top of this we will also provide you with direct access to our online monitoring tools giving you up-to-date knowledge of how your customers are responding to this innovation.
A ground breaking opportunity
Information innovation is emerging as the most important technique for successful companies and industry bodies.
The harsh reality is many companies and associations, even big ones, have become extinct by not keeping their finger on the pulse with the needs of their customers.
Adding value through branded benchmarking may seem like a big step but if you don’t jump at the opportunity now, chances are your competitors will.
Don’t be left behind, get on board!
Get in Touch!
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