Organisations need to carry out benchmarking to grow and improve their marketing strategy. Maximising marketing costs and identifying areas for improvement are vital for businesses aiming to rise above their competitors. RightSpend opens the door to invaluable data that make those crucial decisions a lot more informed. Our benchmarking platform allows companies to maximise marketing spending by taking advantage of our proprietary, anonymised data.
RightSpend provides access to data that drives more robust marketing budgets, evidence of procurement that adds value, and reports that your board want to see. Plus, it helps you to forge agency relationships that truly perform. We believe in the integrity of transparency, and that’s where RightSpend comes in.
Our benchmarking platform is there to help clients and their agency partners have open and honest conversations. In turn, you can gain control over your marketing spend, unlocking more bang for your marketing buck.
High-Quality Benchmark Marketing Solutions
RightSpend is an online benchmarking platform created to provide benchmarks for marketers to see how their current strategies stack up. With our benchmarking platform, businesses can analyse and improve their marketing strategies and spending. So many agencies speak of transparency, but some do better than others. RightSpend ensures complete transparency, so there is no information that’s off-limits to you.
By using our platform, you will be able to take advantage of practical benchmarking solutions that will improve the effectiveness of your marketing division. Our platform has made a proven return on investment for many marketing teams. Using our sophisticated benchmarking system, will enable you to implement significant changes to your marketing budget.
Access to benchmarks of actual negotiated contract rates will allow you to extract maximum value from your marketing spending
Types of Benchmarking Software We Provide at RightSpend
As benchmarking has continued to evolve as a process, it has spawned many different types of approaches. These varying approaches all have distinct pros and cons, so you will need to settle on one that is suitable for your needs. Our experts are more than happy to advise potential clients on what benchmarking strategy would be best for their goals. Through our complete benchmarking software, you can take advantage of the four main types of benchmarking.
One common type of benchmarking approach is performance benchmarking. This process involves gathering and comparing quantitative data and is often the first step that businesses take to identify performance gaps. Similarly, there is practise benchmarking, which is a type of benchmarking that sees companies gather and compare qualitative data. This latter approach is more concerned with how certain activities are conducted through the use of people, technology, and company processes.
Another benchmarking approach that is common amongst large organisations is internal benchmarking. This type of benchmarking involves comparing different practices and metrics from various areas of your organisation to identify areas that can be improved. By contrast, external benchmarking involves comparing the practices and metrics of your organisation to that of many others. This final type of benchmarking is the most comprehensive due to the massive amount of data that is involved.
Through our benchmarking software, you can implement all of these different benchmarking strategies with ease. Thanks to the convenience and user-friendliness of our system, you will find it easy to change your marketing strategy to those discussed above. Remember, you can speak with one of our experts about these various benchmarking strategies if you’re unsure as to which one would be most suitable for your company.
How We Measure Benchmarking
Through our system, you can compare and analyse a massive amount of data in real-time. Our data is benchmarked against $10bn of actual marketing spend across 75 global markets and more than ten agency disciplines. You’ll have instant access to benchmarks that will, in turn, help you identify effective benchmarking practices.
Our marketing procurement platform is an essential marketing benchmarking tool for large organisations.
Our online marketing benchmark platform is designed to make benchmarking practices more straightforward and more effective. The RightSpend platform boasts a host of features, such as:
- Benchmark Data For 75 Global Markets
- Ten Different Agency Disciplines
- 350 Unique Marketing Deliverables
- Data Classified by Agency Size, Type, and Geographic Location
- Metric Specific Tracking, Benchmarking and Analysis
- Tools to Create and Build Your Budget
- Detailed Scope of Works and Templates
- Ability To Track Your Progress and Your Savings
RightSpend assesses around $10 billion+ in marketing spending every year. With RightSpend, you have the means to flex, change, and respond to markets that are constantly in flux. You’ll have the means to make better-informed decisions with clarity around your agency contracts, fees, and staffing plans.
You’ll be able to see how these factors sit beside the benchmark as our platform lays everything out for you. You’ll have all the data you need to engage your agency partner in an open and direct conversation. You’ll have the questions to ask and be prepared for what questions to receive.
Crucially, RightSpend empowers users to enter these negotiations fully backed by accurate data.
What are Benchmarks in Digital Marketing?
Benchmarks are an industry-standard calculated using a wide range of data and statistics. Benchmarks are used as a marker by which to measure your business’ marketing practices to find room for improvement. As benchmarking is an effective method of improving marketing strategies, it’s widely adopted by global companies looking to improve in this area.
There are three main types of benchmarks in digital marketing to be considered by companies venturing into that field.
Industry benchmarking is the process of comparing performance metrics to those of like-for-like companies and organisations in your industry. Competitive benchmarks focus more on opposition companies as you compare their metrics against your own.
Historical benchmarks require you to review your company’s previous performance metrics.
RightSpend provides a solution for all three, thanks to our anonymised comprehensive data. You will be able to compare data from within the industry quickly and simply, and use the data to make informed decisions about your marketing budgets.
Benchmarking removes emotions
With RightSpend, you can take the emotion out of negotiations. You are drawing the attention of your agencies to the benefits of transparency. The purpose isn’t to question your agency and strip costs back to the bare minimum. Instead, the aim is to ensure that both parties walk away satisfied .
Other Services We Provide Here at RightSpend
In addition to helping you benchmark your marketing strategy against those of your competitors, we also provide other services, such as access to research tools. With these tools, users can do the following and more:
- Data Analytics
- Discipline Research
- Industry Knowledge
- Strategic Intelligence
- Trend Analysis
We also have a suite of evaluation tools that enable businesses to perform 360-degree appraisals of performance management, agency assessments, process efficiencies, critical planning, etc.
LET’S WORK TOGETHER
Why Choose RightSpend for Our Benchmark Marketing?
RightSpend has been around for more than two decades, and in that time, we’ve helped countless local, national, and global businesses transform their marketing spending. Our platform fuels clarity, leading to honest and productive conversations that enable marketing teams to extract the fullest potential from their marketing budgets.
From staffing plans and contracts to agency fees, with RightSpend, you can make fully informed decisions. RightSpend provides access to current and accurate comparisons that you have access to wherever you happen to be, thanks to our web-based system. Through the use of our platform, you’ll have the means to plan more robust marketing budgets.
You’ll have evidence that procurement adds value to your business with reports that your C-Suite will want to read. And you’ll have the means to forge agency relationships that truly perform. The RightSpend platform is trusted by hundreds of brands around the world and is backed by our experienced and knowledgeable team.
We provide bespoke consultancy, evaluation, and research to enhance the RightSpend experience. Through RightSpend, countless businesses have made sweeping changes in the way they do marketing procurement, leading to an increase in savings and efficiencies.
Our current clients include 30 of the top 100 global brands who’ve all seen a demonstrable return on investment.
How well do you know your data? Discover how RightSpend can help maximise your marketing budgets and elevate your scope of works by requesting a demo today.
Contact Us Today
So, if you’d like to take advantage of the best benchmarking software on the market, be sure to reach out to the experts at RigthSpend today. We’re always willing to discuss our excellent benchmarking platform with potential clients at length. You can expect our team to provide you with all the required information as they help to get you started with our benchmarking platform. Our staff will ensure that you get set up with our online benchmarking software as soon as possible.
We aim to deal with all queries from potential clients promptly, so you can expect our staff to respond quickly to any questions. If you’d like to see how our benchmarking system could be of use to you first-hand, be sure to reach out for a free demo. You will get a clear idea of how our system works and see for yourself how it can be implemented to improve benchmarking for your company. For all other queries, fill out our online contact form, and we’ll get back to you shortly.
GET IN TOUCH WITH US
Fill in the form below and we will be in touch