We praise benchmark studies when our businesses is performing better than the industry and we dismiss them when business performs not as good. We often consider them of little value but we hunt them down and look forward to the data they provide.
The truth is, we love to hate benchmarks.
A big red flag to be raised, though! Most often, benchmarks only show averages. Averages say nothing about the high or low performers. When you relate yourself to the average, you become average.
If anything, your goal should be to outperform by far any of the data in the following studies:
Conversion Rates Benchmarks
While it offers some verticals like: Fashion and Apparel, Catalog, Specialty, Outdoor & Sports and Software they offer no insights on the type of shops that are considered, their total volumes (are they small or big companies?) or context details.
Benchmark data shows shopping cart abandonment rate at around 72% (tweet this)
Holiday Sales Reports
Every year, IBM offers some of the most detailed reports on US sales during Black Friday and the holidays. The data is segmented, with lots of metrics which should help you plan the holidays for the next year.
Indeed, some players on the retail market, start preparing for next holiday season just as the last one finished.
Mobile purchases soared with 24% of consumers using a mobile device to visit a retailer’s site during 2012 holidays (tweet this)
MailChimp compiles data from 62 million email campaigns sent through their own platform. They provide amazing segmented data that makes it much easier for you to compare your email marketing campaigns to your industry.
A second source of benchmark data is always welcomed so check the benchmark data offered by Eloqua, an enterprise email service provider owned by Oracle.
Subscribers are likely to open email after 12pm, and the most active hours are 2-5pm (tweet this)
Online Retail Lead Generation
The study was done by our own company on 100 fashion retailers on their methods for collecting email leads on their websites.
Just learned: 56% of online retailers have subscription forms of just 3 fields (tweet this)
Advertising CTR Benchmarks
The benchmark data offered by Google is computed from its own advertising platform, but it is a little bit old (from 2011). In the last 2 years the landscape might of have changed (though probably not that much).
There is another source of data for video advertising but we don’t know how it is computed or if the source is to be trusted, but feel free to compare it with the data provided by Google.
Just learned: Advertising that is targeting China has a much higher CTR (0.64%) than other countries (tweet this>
Bounce Rates by Industry
The bounce rate benchmark infographic is offered by Kissmetrics a web analytics player that is quickly entering the major players league.
With bounce rate you need to be a little careful, though. There is more than one way to calculate it so be sure that you are not comparing apples with oranges.
Just learned: The bounce rate for an average website: 40.5% (tweet this)
Social Media Benchmarks
The social media benchmark is updated each year by the Chartered Institute of Marketing at smbenchmark.com and it is supported by Bloomberg, Ipsos Asi and Bazaarvoice all major brands.
Another set of great stats about social media can be found on the jeffbulas.com blog.
According to study: Half of businesses don’t collect data from social media. (tweet this)
Page Loading Time
Did you know that a 1 second delay in page response can result in a 7% reduction in conversions. (tweet this)
2012 SaaS Conversions
Totango is a company that offers lifecycle marketing services for major SaaS companies. Their SaaS conversions benchmark is based on data from 100 companies.
Study shows that no credit card converts much better than credit card required (tweet this)
Pricing Benchmarks for SaaS
The study analyzed the websites of 550 Enterprise SaaS companies in February 2012 and recorded all publicly available information on their free trial and freemium oﬀerings as well as their pricing model and pricing level.
Only 17% of enterprise SaaS companies offer freemium versions of their products (tweet this)
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