Long-term readers and followers of VisionEdge Marketing know that Laura’s husband is in construction. He completed an extensive apprenticeship early in his career, and as a contractor, he is required to have a license. To keep his license, he must complete a minimum number of continuing education (CE) credits. This scenario is common in other professions as well. For example, US medical doctors and CPAs are typically required to complete a certain number of practical hours, pass an exam to secure their license to practice, and then stay abreast of their field with CEs each year. Marketing, however, is different. Coming from various backgrounds and levels of education, our apprenticeships are typically “learn by the seat of our pants.” Some marketing professionals work hard at staying current on best practices, new technologies and techniques, and expanding their skills through various forms of education, such as articles, books, online programs, and in-person educational venues. Other marketers can’t seem to squeeze in the time given their workload.
Even so, for the sake of our discipline, our professional careers, and the firms that employ us, we all want to identify areas where we can improve. Benchmarking serves as a valuable way to discover best practices and compare your performance to them. Benchmark information helps you identify process gaps that, when addressed, can lead to a competitive advantage.
There are only a few opportunities to do structured benchmarking of your marketing capabilities. VisionEdge Marketing and partners have been conducting the annual marketing performance management (MPM) study since 2001. The Content Marketing Institute has conducted a B2B benchmarking study for the past six years. Silverpop, now part of IBM, has conducted an annual email benchmarking study. Christine Moorman, Director of The CMO Survey, and a senior member of the Marketing Area at The Fuqua School of Business, and the T. Austin Finch, Sr. Professor of Business Administration, has conducted an annual benchmarking study since 2008.
Your participation in studies such as these helps identify and analyze world-class performance. If you are committed to the marketing discipline, please participate in these studies to identify and incorporate best practices.
As marketers grapple with accountability, data, analytics, and process, use the benchmarking studies to gain insights into what best-in-class marketers do better and differently. The results enable you to identify areas for improvement and the size of any gaps, so you can prioritize your investments for enhancing your skills, processes, and capabilities.
FAQ:
A: Because Marketing does not have a universal apprenticeship or licensing model that forces structured continuing education. Many marketers learn “on the job,” and workload pressure often crowds out skill-building. Benchmarking provides a disciplined way to identify best practices, compare capabilities, and pinpoint improvement opportunities that can translate into competitive advantage.
A: Benchmarking is the practice of comparing your Marketing capabilities, processes, and performance against best practices and world-class standards. Benchmark data helps identify process gaps and quantify the size of those gaps—so you can prioritize investments in skills, tools, and operational improvements.
A: Benchmarking helps marketers understand what Best-in-Class organizations do better and differently—especially in areas such as accountability, data, analytics, and process discipline. This insight supports smarter prioritization and accelerates capability-building.
A: Examples include:
- VisionEdge Marketing and partners’ annual Marketing Performance Management (MPM) study (conducted since 2001)
- Content Marketing Institute’s B2B benchmarking study
- Silverpop/IBM’s annual email benchmarking study
- The CMO Survey led by Christine Moorman (conducted annually since 2008)
A: Participation helps strengthen the discipline by identifying and analyzing world-class performance—and it gives marketers a clearer view of where they stand relative to best practices. The results help you identify improvement areas, understand gap magnitude, and prioritize investments to enhance skills, processes, and capabilities.
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