How to use bench-marking reports on Google Analytics
One of the goals of business is to ensure that your customers patronize you rather than your competitors. This is why businesses have price wars and similar offers so that they can compete.
When it comes to competing with your competitors, you will always want to have information about them. Now you can always find some information online. However, for the most part, no business owner is going to come and tell you, his competition, what is working and what isn’t working for you.
This is especially true when it comes to digital marketing. You want to know how your competitors are doing and if it’s working.
Google analytics provides you information of your website. Don’t you wish that you can get the same information for your competitors?
While you can’t get said information, you can, however, use benchmarking to find out how your industry is doing.
Google extracts this information anonymously from other websites who are in the same industry as you. To get this information, you will need to turn on benchmarking in your Google Analytics.
Go to your admin settings then account settings and turn on benchmarking. You can now view some information for your industry competitors. This is a 2-way street. By requesting to see this data, you are also going to be contributing your data as well.
Don’t worry too much about that because your competitors are not going to be able to your exact data. They will only see an average.
Navigate to the audience section on the left and select benchmarking and choose channels.
By default, GA shows you the industry that they think you are in and it should show you information for all regions. Choose the appropriate industry that you are in and change the country to the country that you are in or the country that you are targeting. In our case, we chose Singapore since most of our clients and users are from Singapore. You can also change the size of daily sessions to suit your business needs.
On the right side of the area, you can now see how many web properties suit your business and make a comparison.
The data following shows you how you are performing compared to your industry average. Look at the things that you are focusing on. In this case, organic search was the biggest factor for this business. We conducted SEO for the business and we can see how that has changed over the selected time period. As we can see, we have 84% more organic traffic than the competition and 6% lesser bounce rates. This shows us that more people are coming in through organic search and are leaving lesser than the average.
If your business is based not only in Singapore, this report might be of more use to you. However, in this case, the business is located in Singapore and that’s all the information that we are able to extract
If you are looking outside of Singapore, look at the stats present for the countries that you are targeting. Are you getting as much traffic as you would like out of them? Which countries are lacking in traffic?
It’s possible that your content is not optimised for that particular country. Revisit your content and try to change it to appeal to your target audience.
The devices information shows you how users are getting to your competition and which devices they are using. This is useful so that you know how your potentials are reaching out across your competition.
Benchmarking is an important stat that all digital marketers must look at when doing reports. They give you an idea of how the industry is doing. However, this information must be used effectively to make necessary changes that will improve your benchmarks overall.