The more you know about your industry and the more in depth you look at your audience and their preferences, the more successful your website and business will be. If you’ve been wondering how your website is doing in comparison to others in your industry, the Google Analytics Benchmarking Tool will tell you just that and more!
What is Benchmarking in Analytics?
To benchmark something means to compare against a certain standard. When you do this with Google Analytics, you’ll be able to compare your metrics with those in your industry. This will allow you to understand how your website is doing right now and estimate how it will do in the future.
Benefits to Utilizing Benchmarking Reports
There are several benefits to utilizing the benchmarking reports in Google Analytics, including:
- Help you set realistic goals and expectations for traffic and engagement growth
- Pinpoint the areas of your website that need improvement
- Help establish your website’s unique strengths
Types of Benchmarking Reports to Choose From
There are three different ways you can compare your analytics with industry standards. They are:
Channel – To compare your sources of traffic against your competitions in terms of organic, direct, referral, and social media traffic
Location – To keep an eye on where the users to your website are located. This way you can alter your tactics towards different areas or a region as a whole
Devices – How well is your website optimized for mobile? Device insights will allow you to compare your traffic across all devices and compare them to the devices used by users visiting other websites within your industry
How to Set Up Benchmarking in Google Analytics
Setting up benchmarking in Google Analytics is extremely easy to set up.
- Log in to your Google Analytics account
- Go to the Admin menu
- Select ‘Account Settings’
- Scroll down to the ‘Benchmarking’ section and tick the box
- Select ‘Save’
Now you’ll have the benchmarking tab available, which you can navigate to and select your industry. After you’ve selected your industry, input the amount of daily visits you get in order to compare your website against similar websites.
Once you have completed all of these steps, you will start to receive benchmarking data. Depending on the amount of information you give and how specific you are, the amount of websites your website is compared to can vary greatly.