Industry Benchmarks and Competitive Intelligence

Google Analytics (Universal Analytics) benchmark report for the Marketing Analytics website.

Exhibit 27.14   Google Analytics (Universal Analytics) benchmark report for the Marketing Analytics website.

Without analysing the competition, a site’s analytics reports provide a blinkered view of the site’s performance that lacks the necessary basis for comparison. For example, a 10% growth in user volume may not seem significant if the closest competitor is experiencing a growth rate of 30%.

Competitive intelligence is crucial for marketers to stay ahead of the competition. It involves gathering information on competitors and analysing their strategies, strengths, and weaknesses. By doing so, marketers can identify areas where they can improve and take advantage of opportunities in the market.

Some web analytic service providers do share benchmark data. However, the standard reports such as the one shown in Exhibit 27.14, sourced from Google Analytics (UA), are limited in scope.

Google Analytics (UA) offers benchmarking reports for over 1600 industry categories, by geographic location and traffic size classifications. To access these reports, customers must share their data anonymously with Google and other customers. Benchmarking lets them compare their performance with aggregated industry performance from other companies who share their data.

Beyond these aggregated industry benchmarks, marketers need competitive intelligence. How fast are their competitors growing? What activities are the competitors engaging in, and how do these activities affect their business?

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