Measure Your Performance Through Benchmarks

I have a question for you - Let’s say I have lost 5 kgs weight by going to a gym for a month, what do you think, it is ‘Yay’ or ‘Nay’?

Some would say ‘Yay’, some would say ‘Nay’, but how will you actually determine the correct answer?

Well, you need a comparative number or analysis to obtain the result. Right?

Benchmark is defined as the comparative number that when compared with the result, showcases how well your strategies are doing. If it is on the negative side of the benchmark, you need improvement!

If the gym trainer says that losing 7 kg weight in one month is good, you will be changing your ‘Yay’ for the above question because it is a benchmark. This is how standards are defined in digital marketing too. 

Because no matter what, at the end of the day, the reports, spreadsheets, and numbers are what we work for! They need to have the required weight, and unless we know how to compare them with the brand’s competitors, we are nowhere but lost in the desert. 

We will discuss the different benchmarks that you need to look at to find whether you are winning or losing!

Let’s Begin -

01. Email Marketing:

Email marketing is a digital marketing strategy that includes sending emails and developing relationships with prospects and customers. It is an effective way to convert prospects into customers and first-time buyers to recurring customers by engaging them through content, offers, etc. 

To sum it all, email performance can have a huge impact on your digital marketing’s overall success. But how can you tell, and be sure that your email marketing tactic is delivering the result that it actually should? 

You can compare your email key performance against something - it can be metrics of a similar organization or a set benchmark. The following email marketing campaign statistics will help you determine 

Average email benchmarks for all industries

A high-level overview of overall email marketing statistics:

  • Average open rate: Email open rate is the percentage of the total number of subscribers who open an email. The average open rate to check is 18.0%. 
  • Average click-through rate: CTR or click-through rate is a metric that measures the number of clicks advertisers receive on their ads per number of impressions. The average good click-through rate is 2.6%.
  • Average click-to-open rate: It is 14.1%. 
  • Average unsubscribe rate: The average unsubscribe rate is 0.1%. More than that is not good, and it showcases people who don’t like the content. 

email benchmarks

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Here are the good days for email marketing: good open rates, click-through rates, and other mentioned parameters. 

  • Friday is the best day with the highest email open rates, which is recorded as - 18.9%, click-through rates of about 2.7%, and highest click-to-open rates of about 14.4%. 

02. Google shopping ads:

The eCommerce industry can never miss the best digital shelf that shopping ad campaigns provide. With the ‘pay only when you get clicks’ option on Google shopping, one cannot choose to miss out on this strategy to connect to their audience. 

But, when you are commencing the shopping ads or shopping ad campaigns for your client, it can become a really tough task to explain to them whether it did well or not. Here are some of the benchmarks that can clarify whether the Google Shopping Ad did well or not. 

  • The average click-through rate across all industries is 0.86% for Google ads, while for Bing ads, it is 1.25%. 
  • The average cost per click across all industries is $0.66 for Google Ads, while for Bing Ads, it is $0.46.
  • The average conversion rate across all the industries is 1.91% for Google Ads, while for Bing Ads, it is 1.74%.
  • The average cost per action across all the industries is $38.87 for Google Ads and $23.05 for Bing Ads.
  • The average monthly budget for all the industries is $770.41 for Google Ads and $392.53 for Bing Ads.

So, all of the above-mentioned average numbers tell you that you have to make sure that you improvise your tactics and strategies if you are on the lesser side. 

03. Facebook ads:

Facebook advertising is one of the powerful ways to connect to your audience on the world’s largest social network. Everything is to love about Facebook ads - from micro-targeting features to reach out to the exact target audience; Facebook ads are efficient enough to get your message in front of the people who are most likely to engage with the ad and even make a purchase. 

It is great for the budget, conversion rates, and return on investment. All you have to pay is for reaching valuable potential customers. 

But these ads have to be checked too. Here are some of the benchmarks by which you can judge whether your Facebook ads are doing fine or not -

  • The average click-through rate for Facebook ads across all industries is 0.90%.
  • The average cost per click for Facebook ads across all industries is $1.72. 
  • The average conversion rate for Facebook ads across all industries is 9.21%.
  • The average cost per action for Facebook ads across all industries is $18.68.

These were some of the digital marketing benchmarks that one should look after for winning with their strategies. If you are eager to learn the following concepts or the entire digital marketing, then we at the Orionators School of Learning – Asia’s fastest-growing digital marketing school give a full-fledged digital marketing course in Udaipur to make you a professional. We dig deep into the 36 different modules of digital marketing that also include graphic designing. Join us and know the basics, tips, and tricks to all the modules, including social media marketing, search engine optimization, affiliate marketing, and website design and development!

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They are just for INR 50,000/- and thoroughly curated for you!

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It includes - Content writing, graphic designing, website development, and digital marketing. You can take up a demo class and enrol in the programme. 

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