Successful business leaders make it a point to know how their business performs compared to peers and similar businesses. They strategically use this benchmarking information to strengthen all aspects of their business. And they understand its importance in improving competitive advantage.
Offer these business leaders the opportunity to assess their performance and receive a custom report that shows them these valued results, and they will very likely to give you their contact information. That is one reason why benchmark assessment tools have lead conversion rates that are far higher than other marketing assets.
Before you can create a benchmark assessment tool, you need a framework and the specific data that would give a business leader meaningful insight into their business relative to other businesses. This sounds insurmountable but it’s not, and it gets easier over time.
You should start with anything that is related to your offering, from productivity in a certain labor category, operational efficiency, and/or performance of certain work processes, to their organization’s readiness to deploy a new type of technology. As long as you have a meaningful framework to assess along these lines, you don’t necessarily need to have all the data to start the process.
By promising participants that they will receive an immediate report on where they stand, and a report versus other companies after a defined period of data collection, you can still provide value to your potential client both immediately and over time as more data is collected.
That’s what is so great about developing a meaningful benchmark assessment tool: the more it is used, the more data you will have, and the more insightful your assessment will be. By being the first to launch an assessment tool, you could gain a significant competitive advantage that will grow even stronger over time.
You can develop a benchmark assessment tool whether you have a significant amount of data or just a nugget of an idea. Both can be turned into insights that will help drive customer success. Consider using an assessment tool to create value for your customers and accelerate lead capture and sales.
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