So you’ve been measuring the effectiveness of your online marketing through Google Analytics and generally, the picture is positive. Yet, your results are part of a much bigger picture that can reveal essential insights into your industry and how you measure up against your competitors. Are you seeing the bigger picture though? Are you using Google Analytic benchmarking reports? If not, then you should. It’s that simple.
The reports explore channels, location and devices and show where you sit alongside the competition. How? Well, when you set up your Analytics account you’ll have selected an industry – one of over 1,600 – and it’s this seemingly small, simple detail that enables you to benchmark your statistics against the rest of the market.
The channel report indicates which channels are delivering for your competitors. So are they gaining more visitors from email marketing or do you need to invest more in your affiliate activity to stay ahead? Location reports work in the same way, but show which countries or regions are proving most lucrative. Last but not least, the devices report does what it says on the tin and benchmarks your performance on desktop, tablet and mobile, which can indicate how responsive your site is or the core demographic of your visitors.
So far, so good? Well now it’s time to get the most out of the reports. A clearly defined objective is essential and can be determined by questioning your marketing activity. If you were creating a channel report for example, you may question is PPC delivering conversions or is email marketing performing seasonally? Then you can begin to modify settings to generate a report completely specific to your industry and evaluate the most accurate data. So, you can alter the industry setting from the generic shopping category to the actual market you specialise in and change the country from ‘all’ to one single region if it’s appropriate. Finally, the daily sessions update automatically and are based upon your session numbers.
What can we learn from this? Well, the bounce rate is higher for paid search so the landing pages should be tested; email is consistently performing well; organic traffic generation is weak and needs reviewing while social media activity benchmarks highly so further traffic opportunities could be exploited here depending upon conversion values.
That really is all it takes. Isn’t it time you knew your place?