performance-benchmarks

Vocabulary Word

Definition

'Performance benchmarks' are standards or points of reference against which things can be compared or assessed. They're like targets for people to aim for in their work or performance.

Examples in Different Contexts

In business, 'performance benchmarks' refer to metrics used to compare a company's performance against industry standards. A business analyst might say, 'We use performance benchmarks to identify areas for improvement.'

Practice Scenarios

Marketing

Scenario:

We aimed for a widespread campaign outreach, but the conversion rates have been less than anticipated. Any strategies for increasing customer engagement?

Response:

We definitely need to reassess our current strategies and adapt them to meet our performance benchmarks for customer engagement.

Business

Scenario:

We're taking a look at the company's financials this quarter and noticing some room for improvement. Let's discuss what could be better.

Response:

Yes, it's important that we continually meet our performance benchmarks for financial growth to maintain our market position.