Google Analytics and benchmarking for success

Tips for using Google Analytics to your advantage

25 May 2022

Benchmarking has long been used by companies to find out how they’re doing compared to the competition. Luckily, Google’s data makes it incredibly powerful and very easy to use.

Google Analytics’ benchmarking tool automatically sorts your company by industry and size and compares your metrics to other companies that share their data. By benchmarking your performance, you can hone in on gaps and better evaluate how to improve your marketing strategy.

How to enable Google Analytics’ benchmarking tool

To implement benchmarking in Google Analytics:

  • Sign in to your Google Analytics account and go to the Reports section.
  • Click on Audience and enable Benchmarking.
  • From there, you can select from 1600 industry categories.

Maximise your Google Analytics, gain valuable insight

1. Compare performance on shopping event days

See exactly how you could be performing on the biggest marketing dates throughout the year, such as Christmas, Easter or Black Friday.

Google Analytics – benchmarking dates

How many people visited your site on specific dates compared with your rivals? How many new customers did you attract and how long did they stay? Once you know what your targets should be and the areas where you fall short, you can plan how to achieve those numbers in the future.

2. Benchmarking your bounce rate

Your bounce rate is the percentage of customers who enter your site and then leave without continuing to view other pages. It’s one number you strive to keep as low as possible – a low bounce rate means your website is doing its job.

The optimal bounce rate for each business will vary. For example, if the success of your business depends on your customers viewing more than one page, then a high bounce rate is less than ideal. But if you have a one-page site or landing page, then a high bounce rate isn’t unexpected.

Google Analytics – use benchmarking reports to regularly check bounce rate

Compare your scores with industry rivals, and if you have a bounce rate much higher than competitors, you’ll want to understand what is making people leave early. It could be your site is slow to load or has too many pop-ups, plug-ins, technical errors or broken links.

3. Compare desktop versus mobile performance

Determine which devices your customers are using the most to browse and how that compares to industry standards. That way, you can flag any user issues early and design a website specifically for your audience’s preferred devices.

Google Analytics – find the average percentage of mobile visitors

For most industries, the percentage of mobile visitors sits fairly high. However, studies show that most conversions take place on desktops. Industries differ, so the benchmarking tool can provide you with great insights on how to improve your website and conversion rates. For example, if your industry average for mobile visitors is 70% and you’re sitting at 40%, this could mean your site isn’t as mobile-friendly as it could be.

In marketing, it pays to compare Benchmarking provides great insight into industry trends, highlights your shortcomings and helps you set meaningful targets. However, it should always be looked at in context. The goals and targets of your competitors may not always align with your own and there are possibly good reasons your site is above or below industry standards in a particular area. Always ask the question: ‘Should we make a change based on this data or strategically prioritise a specific goal?’

We highly recommend taking advantage of Google Analytics’ benchmarking tool. Just make sure you use it with other reports and find the true meaning of these trends for your business.

To get a deeper understanding of your Google Analytics data, contact the experts at Solutionists today.

author:

Sina Hunter

date published:

25 May 2022