Google Analytics Releases Benchmarking

Posted by bkloss | Google Analytics | Wednesday 26 March 2008 3:50 am

Gain An Eye on the Competition with Google Benchmarking

Have you ever wondered how your site was doing in comparison to other industry players? Well, now Google Analytics offers a glimpse into the KPI’s of your industry. Earlier this month Google allowed users to opt-in to a new data sharing program through their analytics account. The service was turned on sometime last week and data started appearing.

If you’d like to jump on the boat, go to you Google Analytics homepage and click the data sharing link:

Then check the box for “anonymous” sharing:

In their own words, Google Explains…

“Enable benchmarking within Google Analytics by sharing your website data in an anonymous form. Google will remove all identifiable information about your website, combine the data with hundreds of other anonymous sites in comparable industries and report aggregate trends in the benchmarking service. Google will also use this data in anonymous form to improve our products and services.”

Google uses some indexing mojo to determine your niche, then see how you fair against other industry verticals by choosing benchmark (beta) from the visitors dropdown. You can choose any category to compare you data to and Google promises more categories will become available as more people opt-in to share data.

Here’s an example of the benchmarking “time on site” report :

Time on Site Benchmark metrics

Hey +33.35% looks like Iteration Station is beating the pack!

The industry average is represented by the grey link that runs through the middle.

You’ll find reports for visits, bounce rate, time on site, page views, page/visit and % new visitors.

Besides being interesting, the benchmark reports can provide insight into where your site may lack. Low time on site: work on making content more compelling. Small visitor total- crank up the SEO. The value of data sharing is you gain a prism through which to view and evaluate the metrics of your site as compared to others on the net.

I would opt-in to the tool and check out how your efforts stack up. A little healthy awareness of the competition might be just what the doctor ordered.

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