Benchmarking, the comparison of your organisational performance against another or industry norm. Extremely valuable for understanding where your organisation’s strengths and weaknesses lie. And understanding key metrics such as growth and market share. How do you measure up against your competitors?
Insights gained from this comparison can help you
- establish gaps in performance and put measure in place to correct them
- understand your and competitor performance strengths
- set realistic targets
- gather wider industry/market trends.
- Is the market growing and what what rate?
- Are particular players growing market share? And why?
- develop a culture of best practice and continuous improvement
- agree measurable strategic objectives, set within the wider competitive context.
- identify key opportunities based on emergent trends within your market. E.g. a new product or new marketing channel.
- spot changes in strategic direction of competitors- not only on their KPI’s, but also on your own.
- get a more complete picture of your industry
Maybe you are an industry or trade body, or in fact belong to a group of similar businesses, and are considering a benchmarking scheme. Alternatively, you may already have a scheme that you are looking to modernise, expand or re-energise. Contact us if you would like to discuss further.
How can Adroit help?
Adroit is an experienced independent partner that run “benchmarking clubs”. We can help you:
- set up and administer scheme “rules”
- ensure compliance to legal and scheme rules
- launch and manage the club
- define and build metrics from your own and third party datasets,
- standardise and “anonymise” information to protect multiple partner interests;
- help consortia members to understand core trends,
- suggest where they can make efficiencies and improve performance
- provide different tools for audiences to access and analyse the information
- provide support & training
You may want to compare specific elements within your organisation and we can help you design this too.Adroit develops and runs both national and international benchmarking schemes. We can administer and share the costs of developing a scheme across many participants.
Adroit Benchmarking Apps
We have developed some “killer” benchmarking apps – loved by end-users. Audiences for information are different. Your senior team need quick intuitive access to headline metrics, perhaps via web-based dashboards, available on their mobile or laptop. Whilst your analysts want to delve deeper into the data to apply analytical techniques, calculations and visualisations.
We can cater for a range of audiences and would help you design and match the right apps for each audience. Enabling you to form tactical and strategic insights from the data.
Consortium Case Study – Indigo – The Global Donor Insight Initiative (GDII)
The International Fundraising Leadership (IFL) Forum is a peer group of international fundraising directors in some of the world’s biggest Non-Governmental Agencies (NGOs). Members include: ActionAid, Amnesty International, Care International, Greenpeace, ICRC, IFRC, MSF, Operation Smile, Oxfam, Save the Children, SOS Children’s Villages, UNHCR, UNICEF, WWF and World Vision.
Adroit took on and revolutionised the INDIGO Benchmarking Initiative, which compares the actual performance of individual donors by country with five-year trends. Adroit supports hundreds of users of the study globally and helps them gain insights in their respective markets.