At Savvy Analytics, our goal is clear: to help you Get Savvy with Your Data. Through our extensive research and collaboration with clients, we've uncovered a critical insight: A unified view of your analytics not only empowers you to make more informed decisions but also lays the foundation for effectively harnessing the power of artificial intelligence. This is where Google Analytics becomes an indispensable tool.
Why Google Analytics?
Google Analytics provides a comprehensive view of your website's performance, helping you track key metrics that matter to your business. By understanding your performance compared with other companies similar to yours, you can identify areas for improvement, optimize your strategy, and ultimately drive growth
In partnership with Databox, we've created a benchmark group specifically tailored for small and medium-sized businesses (SMBs) using Google Analytics. In this study, we examined 5,666 B2B companies, with 1-1000 employees. This up-to-date study offers these businesses a confidential way to compare their performance with peers using Google Analytics.
As one of the most popular analytics platforms, Google Analytics has been instrumental in helping SMBs optimize their digital strategies. Our collaboration with Databox has allowed us to establish performance benchmarks within this ecosystem, enabling users to identify areas of excellence and growth potential. These benchmarks can guide investment decisions and uncover new opportunities.
Members of the group can even track their performance against the benchmark over time, making it easy to see progress—or the lack thereof. The best part?
It's 100% anonymous. Rest assured, your data remains confidential.
It's 100% free. Gain insights without any financial commitment.
For a sneak peek into our study, check out our benchmark data for July 2024 below.
Here’s How to Read the Benchmark Charts
The charts below are dynamically generated by Databox’s free benchmarking software. They are straightforward if you're familiar with statistics. But if you’re not used to looking at them, they might seem a bit confusing.
Page Views Benchmark
The chart above shows an example of what you will see once you join the group. It shows a fictitious company’s performance against a sample of companies.
The blue vertical line represents the company’s performance in the previous month, showing 2,400 page views. The chart also shows:
The bottom 25% of performers had below 1,800 page views.
The top 25% of performers had above 3,200 page views.
The median value is 2,100 sessions, meaning 50% of companies had more than 2,100 sessions in the previous month and 50% had fewer.
The height of the green chart shows the frequency at which a company had the value shown on the horizontal or x-axis. For example, in this chart, a relatively large percentage of the population had around 2,000 page views last month, as indicated by the peak of the chart.
Now that you know how to read the graphs, we’ll share some of the actual data from our group below.
Sales Benchmarks for SMBs Using Google Analytics
For our benchmark group, we focused on key sales metrics within Google Analytics. Three metrics that strongly indicate an SMB’s sales performance and alignment with marketing include:
Bounce Rate: The percentage of visitors who leave the site after viewing only one page.
Session Conversion Rate: The percentage of visitors who complete a desired activity (i.e. making a purchase, completing, a form, etc.).
Average Session Duration: The average amount of time a user spends on your site during a session.
Of course, many factors may influence these metrics, but based on our research, we know that we know that these are crucial. Let’s dive in.
Bounce Rate
According to our benchmark group, the median Bounce Rate for SMBs during July 2024 was 46.29%. This indicates that half of the companies in the study had bounce rates above 46.29%, while the other half had lower bounce rates. Here's how the distribution looks for one of our group members:
Bounce Rate Benchmark
We removed our member’s name, of course, since these benchmark comparisons are anonymous and private to each company.
As you can see, our client's stellar performance shines through with a bounce rate of just 21.75%, significantly outpacing the median of 46.29% and surpassing 90% of companies in this sample.
This low bounce rate indicates this website does a few things well. Visitors find this website engaging and relevant, due to
Well-targeted content
Intuitive navigation
Fast load times
To maintain this edge, the client could focus on further personalization, regularly updating content, and optimizing for mobile devices. The next step is to analyze user paths to identify opportunities for improving conversion rates and extending session duration.
Session Conversion Rate
For the Session Conversion Rate, the median value was 2.2%. This means that for half the companies in the benchmark group, 2.2% or fewer of their sessions resulted in a desired action, such as a purchase or form completion.
Session Conversion Rate Benchmark
Our client's Sessions Conversion Rate stands out at 4.95%, more than doubling the median of 2.2%. This performance suggests that this website is highly effective at turning visitors into customers or leads.
The success came after
Making compelling calls-to-action compelling
Streamlined user experiences
Persuasive content that resonates with the target audience.
To build on this strength, the client can refine further their sales funnel passing on the user behavior information to their sales team, and personalize offers based on this behavior.
The next step is to analyze which specific pages or products drive the highest conversion rates and replicate their success across the site.
Average Session Duration
Finally, the Average Session Duration for the benchmark group was 2 minutes and 30 seconds. This means that, on average, users spend just over two minutes on the site per session.
Average Session Duration Benchmark
The client's Average Session Duration of 5 minutes and 23 seconds is more than twice the median of 2 minutes and 30 seconds, demonstrating exceptional user engagement.
This extended time on site indicates that visitors find the content compelling and valuable. The key to achieving such performance is:
High-quality content
In-depth information is not easy to find anywhere
Engaging interactive elements
The website is well-structured and has intuitive navigation, helping across multiple KPIs. But, what keeps the visitors’ attention for a long time is the content and if this effectively answers user queries.
To capitalize on this strength, the client should focus on creating more long-form content, implementing features like video tutorials or interactive tools, and optimizing internal linking to encourage further exploration.
The next step might be to create a report that shows which specific pages or content types drive the longest sessions and create similar material to boost overall engagement even further.
Website Performance Benchmarks for SMBs Using Google Analytics
Now, let’s look at how these metrics interact with each other and impact overall website performance. For example, a high bounce rate often correlates with a low session duration and conversion rate, indicating that visitors may not find what they need on your site.
Based on the benchmark group data, it's easier to figure out the next steps to elevate their website. In this case, improving their landing pages to increase conversions and better educate their contacts could be beneficial. Optimizing a landing page to increase conversions can range from simply adding more content or simplifying the design to trying a new layout or rethinking the offer to make it more compelling.
Get Your Free Benchmark Report
Ready to see how your website's performance stacks up against this group of SMBs using Google Analytics? Get full, free access by signing up for our Databox-powered Benchmark Group, or contact us if you’d like our help.
Savvy Analytics is your ultimate partner for automation, data strategy, and business analysis. With extensive experience, we excel in creating and pursuing strategic business plans to help you achieve and surpass your goals. Our services encompass AI data consultation, business process automation, and insightful business intelligence. Tailoring our business solutions to your unique needs and goals, we stand ready to be your guide for growth and success. Schedule a free consultation to start your journey toward strategic excellence with Savvy Analytics, LLC.
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