Competitor benchmarking guide

TLDR: Competitor benchmarking helps you measure your performance against rivals instead of just industry averages. It identifies gaps, tracks trends, and guides strategy using metrics like ROI, SEO, PPC, and website performance. There are three main types (strategic, performance, and process), and the key is to compare against the right competitors consistently. Tools like ASK BOSCO® make this easier by combining insights in one place, storing historic data, and giving you a clear picture of where you stand in your market. 

What is competitive benchmarking? 

Competitive benchmarking is essentially a way to gauge how well your business is performing against your competitors. Think of it as a top-level overview of your digital presence, SEO, PPC, website health, user experience, and even how engaging your content is. 

While general benchmarking is about measuring your performance against industry standards or best practices, competitor benchmarking zooms in on direct competitors. Instead of asking, “How does my website perform compared to industry averages?” you’re asking, “How does my marketing ROI compare to my biggest rival’s?” 

Example: Imagine you spend £10,000 on paid ads and generate £50,000 in revenue, but a direct competitor with the same spend achieves £75,000. That gap highlights where you might need to improve. 

Why competitor benchmarking matters

So why bother? Because competitor benchmarking is much more than numbers on a dashboard , it’s all about context. 

• Helps identify performance gaps – You can quickly see where your rivals are pulling ahead and where you’re leading. 
• Guides strategic decision-making – It doesn’t always hand you the answers, but it acts as an early warning system. If a competitor suddenly spikes in visibility, you’ll spot it and investigate why.
• Enhances understanding of market trends – By tracking shifts regularly, you notice seasonality and long-term market changes. 
• Offers insights into customer expectations – If your competitors are offering faster sites, better UX, or more engaging content, customers may expect the same from you. 

Types of competitive benchmarking 

Competitive benchmarking can be broken down into three main types: 

1. Strategic benchmarking – Looks at long-term strategies and market positioning. For example, overall performance scores across SEO and paid search that give a broad picture of where you stand.
2. Performance benchmarking – Focuses on specific KPIs such as ad spend efficiency, engagement rates, or customer service response times.
3. Process benchmarking – Dives into workflows and systems, like how well your website runs, your tech stack, or your content production process. 

Steps to conduct competitor benchmarking 

Here’s a simple roadmap you can follow: 

1. Identify key competitors – Choose businesses of a similar size or niche; don’t compare a local bookshop to Amazon. 
2. Choose metrics/KPIs to compare – Think ROI, market share, traffic, engagement, website performance. 
3. Gather data – Use public reports, SEO/PPC tools, customer reviews, and platforms like ASK BOSCO®.
4. Analyse and compare – Spot patterns, gaps, and opportunities. 
5. Use insights to inform strategy – If a competitor is outpacing you in paid ads, you know where to adjust.
6. Review and iterate regularly – Monthly or quarterly reviews keep your insights fresh and actionable. 

Common tools for competitive benchmarking  

There’s no shortage of tools, but each has its limitations. 

• ASK BOSCO® – Combines multiple benchmarking needs in one place. Unlike tools that give only SEO or PPC insights, ASK BOSCO® tracks overall performance, including website health, and even stores historic data automatically.
• SEMrush, Ahrefs, SimilarWeb – Great for digital visibility and keyword tracking. 
• LinkedIn, Glassdoor – Useful for employer brand comparisons. 
• Google Alerts & social media monitoring – Help track competitor mentions, PR moves, and engagement trends. 

Best practices of competitor benchmarking 

To get real value from benchmarking, keep these principles in mind: 

• Benchmark regularly – A monthly check-in keeps you ahead of sudden shifts.
• Focus on actionable insights – Don’t just collect data for data’s sake. 
• Combine qualitative and quantitative data – Numbers matter, but so do customer reviews, brand sentiment, and UX. 
• Customize benchmarks to your goals – Pick the KPIs that actually matter to your growth.
• Watch data availability and accuracy – Tools differ in transparency; ensure you understand how scores are calculated.
• Choose the right competitors – Compare with businesses in your league. Avoid unrealistic comparisons (like sandals-only retailers benchmarking against Next’s entire product range).
• Avoid copycat strategies – Use insights to inspire, not to imitate blindly. 
• Keep competitor sets consistent – Don’t constantly switch rivals, or you’ll lose valuable historical data. 

Conclusion: Benchmark competitors with ASK BOSCO® 

Competitive benchmarking gives you clarity: are you ahead, behind, or keeping pace with the competition? It helps you track performance gaps, guide strategy, and understand market shifts before they catch you off guard. 

But juggling multiple tools can be overwhelming. That’s where ASK BOSCO® comes in, bringing SEO, PPC, website performance, and competitor insights into one dashboard. With monthly updates and stored historical data, it’s designed to help you benchmark smarter.