There are many methods of data collection, including

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Step 4. Collecting information
The more channels for collecting data from standards that are used, the more complete and reliable the information obtained will be.

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attending industry conferences and seminars in which a competitor participates;

study of open sources - websites, user reviews, media articles, interviews, vietnam consumer email list publications on social networks;

introduction of mystery shopping;

conducting our own research and surveys, forming focus groups;

hiring former employees of competing companies to join your staff;

study of product range, pricing policy, advertising activities;

analysis of mentions of competitors in social networks and the Internet, coupled with a study of user reactions and opinions;

request for research from consulting and marketing agencies;

using tools for web traffic analysis, such as Yandex Metrica.
Step 5. Analysis of the obtained data
Based on the research results, it is necessary to identify the best technologies, strategies and practices used by competitors and determine the pool of actions that are effective for them.

And here it is worth determining which ones are applicable in your activities and will help in achieving the formulated business goals.

Ideally, work at this stage should be structured as follows:

Presentation of collected information in a visual form - create graphs, statistics, add examples of reference companies;

examining metrics and indicators such as customer satisfaction, competitors' costs, marketing strategy, and other indicators that you noted in Step 2 as necessary for qualitative analysis;

search for the reasons that allowed the standards to obtain better results.
Step 6: Conclusions and development of an action plan
The conclusions you come to as a result of the work done should answer three main questions: “What has your company achieved?”, “How did the competitor achieve high positions?”, “How can successful practices be adapted to your business?”

But all this will remain just another “document on the desk” if you do not develop an action plan to achieve your goals, taking into account the information obtained as a result of benchmarking.
Here:

Don't copy ideas without deep analysis and understanding why you need to implement them. Successful cases are just a reference, not a template;

it is more important to take into account the behavior of the target audience, its needs. After all, you are creating a product for your potential and current customers;

There is no need to blindly adopt all the experience or study all the indicators - act consistently, highlight specific indicators, with an understanding of why you are doing this.