With a benchmark, you can judge whether, for example, your website's conversion rate is good compared with your industry.
What does this mean in practice?
A benchmark is a reference point you compare your own figures against. For example, the average conversion rate in your industry, the typical cost per click or the speed of your competitors' websites.
Why does this matter for your business?
Figures on their own say little. Is a conversion rate of 2 per cent high or low? A benchmark shows you where you stand and helps you set realistic goals.
Examples and best practices
- Compare yourself with businesses in the same industry and region.
- Also use your own figures from previous months as a benchmark.
- See market averages as a guideline, not as an end goal.
- Update your benchmarks once a year.
How we do it at Ikoon
With GA4 and conversion tracking, we measure what your website delivers. The Monthly results report shows how your results develop, so previous months become a clear benchmark. That way, you see what works and where you can improve.