Benchmarking is a process where you measure your company’s success against other similar companies to identify performance gaps and achieve a competitive advantage. Studying other companies can highlight what it takes to enhance your marketing campaign efficiency and become a bigger player in your industry.

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Benefits of Benchmarks and Health Check Retention Report Benchmarks Campaign Reports Benchmarks Automation Reports Benchmarks Form Reports Benchmarks Business Health check Goal Setting

Benefits of Benchmarks and Health Check

  • Compare to similar brands of the same industry. Forget generic benchmarks or benchmarking against yourself.

  • Overall business and performance benchmarks. Understand where your eCommerce business stands against similar brands as well as drill into marketing performance metrics. This allows you to grow your overall business and improve those marketing tactics that are lacking behind.

  • Quick and trustworthy benchmarks. No more time and effort wasted on searching for benchmark reports, that are too generic and don't bring you any actionable insights.

  • Prioritize effectively and boost your revenue. Connect insights with business objectives and see the immediate impact.

Retention Report Benchmarks

Retention Report Benchmarks include returning customer rate benchmarking. It is using industry data to match other brands' retention results to your store.

Campaign Reports Benchmarks

Campaign Reports Benchmarks includes open, click, unsubscribe and issue rate benchmarking and it is using industry data to match other brands' campaign results to yours.

Automation Reports Benchmarks

Automation Reports Benchmarks include open, click, unsubscribe and issue rate benchmarking and it is using industry data to match other brands' workflow results to yours. Workflow benchmarks are additionally split based on the workflow trigger to cart abandonment, signup, post-purchase and other workflows. This gives better understanding in terms of how a certain workflow performs against similar workflows across similar brands.

Form Reports Benchmarks

Form Reports Benchmarks include form signup rate benchmarking and it is using industry data to match other brands' form signup rate to yours. Form benchmarks are additionally split based on the form type. This gives a better understanding in terms of how a certain form perform against similar ones across similar brands.

Business Health check

Health check feature uses contextual benchmarks and evaluates your brand’s overall performance compared to its industry peers in each of the following areas: Customer retention, Campaigns, Workflows, Cart abandonment and Signup forms. Then, based on the mutual aggregated score from all those areas, a final brand’s “Health check” grade is displayed. Currently:

  • we are using a grading scale of C-, C, C+, B-, B, B+, A-, A, A+;

  • “Health check” calculations are using the last 30 days of brand data (this period is fixed and cannot be changed for now);

  • The results are updated once per day.

It can be found on your Dashboard under the Overview tab. A red vertical industry baseline indicates how your store performs in comparison to the industry and how much you are ahead / behind compared to that.

Every time you click the 'See results' button, data is refreshed and your brand is compared to others in your industry.

Note! It is available for Bigcommerce and Shopify stores.

Goal Setting

Goal setting will allow you to move Health check’s industry-level benchmark up or down by a maximum of 50%, thus letting you set and adjust it based on your goal. For example, you want to work hard on improving your store compared to other stores in your industry, then you can set your goal above industry level by a maximum of 50%. Another example could be that you’re focused on different things at the moment and it’s okay to have your target goal slightly below the industry benchmark for the time being, then set your goal below the industry average. You’ll be limited by 50% in this case as well.

Note! It is available for Bigcommerce and Shopify stores.

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