Benchmarking in Google Analytics 4: A game-changer for small businesses
In the ever-evolving world of digital marketing, staying ahead of the curve means constantly monitoring and improving your website's performance. But how do you know if your numbers are good, bad, or just average? A new benchmarking feature in Google Analytics 4 (GA4) will help you understand. Let us break it down for you.
What is the GA4 benchmarking feature?
Benchmarking in GA4 allows you to compare your website’s performance against industry averages. This means you’re no longer analysing your data in isolation but within the context of what others in your industry are achieving. For small businesses, this is particularly valuable as you typically do not have access to extensive data or the resources to conduct in-depth competitive analysis. GA4’s benchmarking levels the playing field, providing insights that were previously out of reach.
Why is it important?
Without context it’s really hard for you to know if you’re doing really well, or actually failing. For example, a 2% conversion rate might seem low until you discover that the industry average is 1.5%. On the other hand, you might think you’re doing well with a 50% bounce rate, only to find out that others in your industry are averaging 30%. Benchmarking removes the guesswork, helping you make informed decisions.
Time to set some goals
For small businesses, this means you can set more realistic goals. If you know that top performers in your industry are achieving a certain level of traffic or conversion rates, you can use that information to set benchmarks for your business. It’s about creating a roadmap based on real-world data rather than guessing or creating targets out of thin air.
Find out what’s really going on
GA4’s benchmarking data can also help you find where you can improve. By comparing your metrics to industry standards, you can pinpoint where you’re falling short and take actionable steps to close the gap. Whether it’s tweaking your content, improving your user experience, or investing in more targeted marketing campaigns, benchmarking provides a clear direction.
A trend or on trend?
GA4’s benchmarking can also help you track trends over time. Are you consistently performing above or below the industry average? How do seasonal changes or new marketing efforts impact your performance relative to others? These insights can inform your long-term strategy and help you stay competitive.
We’re here to help
At Oversite Digital, we understand better than most the challenges small businesses face in navigating the complex digital landscape. That’s why we’re so excited about this new feature - it helps you further understand what is going on with your digital marketing. And we’re all about anything that takes complexity out of the equation.
