I meet with a lot of clients and many of them know different aspects of their online presence “could” be better yet some do not know where to begin. A first sign is your conversion rate – exactly how many people are clicking the buy button after searching, browsing, or even adding an item to the cart? And further, how do I compare to my industry? Are they getting more items in the cart than me? Is their cart value higher than mine? I read this well written article this morning over at the Smarter Commerce Blog by guest author Chris Withers and he writes about Cyber Monday and the effect mobile devices like smart phones and iPads are having on the industry. What is your mobile story? Do you even have a mobile presence and if so, how does it compare in your industry?
Now you could easily get this information from a few different analytic packages out there but you will need to get the “industry” reports from another source.
Introducing IBM Digital Analytics Benchmark!
Offering a highly intuitive interface, IBM® Digital Analytics Benchmark delivers aggregated and anonymous competitive data for industry-specific, best practice key performance indicators, showing how your site performs relative to industry leaders and peers. With Benchmark, you can anticipate threats before they arise and stay one step ahead of the competition. — link
You can see more about the Cyber Monday results from another post on the Smarter Commerce Blog to see what kind of information the IBM Digital Analytics Benchmark compiled. Using an analytics system like Coremetrics can give your site much of the data you need to see how you are doing but check out for instance the Session Conversion Funnel screen shot from the IBM Digital Analytics Benchmark. Essentially the same data captured by Coremetrics is now compared to others in your industry: