Having benchmarks in place for all your core KPIs is absolutely critical as they help you understand what success means for your marketing and communications activities. Simply put, without relevant benchmarks for all your standard metrics your data is meaningless. Check out the full course here: http://analythical.com/learn-analytics/beginner-courses/types-of-benchmarks Visit my Blog: analythical.com

1. ANALYTICS
TYPES OF BENCHMARKS
CRASH
COURSE

2. Having benchmarks in place for all your core
KPIs is absolutely critical as they help you
understand what success means for your
marketing and communications activities.
Simply put, without relevant benchmarks for
all your standard metrics your data is
meaningless.

3. there
are
3 types of
benchmarks

4. historical
benchmarks
These are benchmarks based on your own historical
performance for a given channel or data set.
Historical benchmarks are usually the most
accessible and the most meaningful benchmarks you
can use, and I generally recommend that you start
with these before looking at the other types of
benchmarks.

5. These are benchmarks based on competitor
performance. Depending on the channel competitor
benchmarks generally require you to focus on
metrics that are publicly available or that you can
purchase (e.g. 2nd or 3rd party data) as you usually
won’t have access to owned competitor data sets.
competitor
benchmarks

6. These are benchmarks based on an industry or
category standard of performance. Of all 3 types of
benchmarks industry benchmarks are the most
difficult to obtain and there is no single approach or
methodology for defining or retrieving them.
Generally speaking, there are 2 approaches to
developing an industry benchmark, 1) using a 3rd
party source, and 2) creating a custom industry
benchmark.
industry
benchmarks

7. by stephen tracy | www.analythical.com
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8. slide 1 Steve Richey - www.rvcmedia.com
slide 2
slide 3
slide 4
slide 5
Carl Nenzen Loven - www.flickr.com/nenzen
Ivan Slade - https://unsplash.com/flowinteractive
Gian-Reto Tarnutzer - http://www.webcake.ch
Jakub Sejkora - www.facebook.com/jakubsejkora
slide 6 McDobbie Hu - http://mcflurry-hu.lofter.com/
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by stephen tracy | www.analythical.com
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