In the digital and social realms, marketers use industry benchmarks to measure the performance and success of campaigns. Marketers are also able to predict trends with platform data. For example, if you are running a digital Google campaign for a healthcare client, you can use CTR (click through rates) data from that industry as a guide for ad performance. Additionally, you can monitor which targets, ad sizes and key words are most effective in any given sector.
Industry benchmark data is used across digital marketing. If your company sends out quarterly newsletters or posts on Facebook they could greatly benefit from benchmark data. For email campaigns, the ability to forecast how many people will open the email, click through, and convert based on a variety of factors is critical to defining success. Using data to improve your campaigns makes them more effective and engaging to your target audience.
The availability of industry benchmark data shows the evolving nature of digital marketing. Having the statistics to show what works and what doesn’t gives us the power to improve your messaging and calls to action in order to increase conversions. Analyzing the data enables you to anticipate, strategize and optimize for greater return on future emails.