Competitor benchmarking for digital marketing

Online competitor benchmarking is a structured analysis of the online services, capabilities and performance of an organisation within the areas of customer acquisition, conversion, retention and growth.

Quantitative benchmarking criteria give you hard figures you can compare your performance against that of competitors and seek to make improvements against. Examples include the popularity of your site and conversion rates to sale. Here you will be mainly accessing published data sources that you can compare your performance data from analytics against.

The Smart Insights RACE model provides a practical way of reviewing marketing effectiveness across the marketing funnel. Key measures to evaluate include:

  • Reach – Website unique visitors, Viewable impressions on media sites
  • Act – Key website outcomes for lead generation: Registrations and leads
  • Convert – Sales – online or online-referred sales
  • Engage – Customer satisfaction and ongoing engagement

See also competitor analysis.

Recommended Smart Insights resource

About

Welcome to my personal site where I blog about the latest developments in digital business to help students, professionals or lecturers using my books in their studies or careers.

Visit my mainĀ Smart Insights Digital Marketing Strategy site to download planning templates, strategy guides and daily updates on the latest developments.

I also write about assistive technology to help others teaching the visually impaired as part of my volunteering work for charity AbilityNet.

About Smart Insights

Dr Dave Chaffey is co-founder and Content Director of digital marketing advice site Smart Insights. We’re a publisher and learning platform that helps our 150,000 active members in over 100 countries plan, manage and optimize their digital marketing activities by applying the actionable advice in our planning templates, guides and interactive e-learning tools.

Free members can download our free templates and benchmark their digital capabilities.