Launching digital marketing campaigns without benchmarks is like setting out on a journey without a map. How do you know if you’re performing well or falling behind? Are your conversion rates strong? Is your ROI competitive?
- What Is Campaign Benchmarking?
- Why Benchmarking Matters in Digital Marketing
- Top KPIs to Benchmark Across Campaigns
- Sources for Industry Benchmarks
- Benchmarking in Practice: A Real-World Example
- Types of Benchmarking in Marketing
- Steps to Benchmark Your Campaign Performance
- Tools to Help With KPI Tracking and Benchmarking
- Common Benchmarking Mistakes to Avoid
- References
This is where campaign performance benchmarking comes in. Benchmarking helps marketers compare their results to industry standards, historical data, or best-in-class performers. It’s the foundation for understanding what “good” looks like—and for setting smarter goals.
In this article, we’ll explore how to benchmark your digital marketing campaigns effectively, what KPIs to focus on, where to find reliable benchmarks, and how to use this data to improve performance.
What Is Campaign Benchmarking?
Campaign performance benchmarking is the process of comparing your marketing metrics against:
- Industry averages
- Competitor performance
- Your own historical data
- Top-performing internal campaigns
The goal is not just to measure success but to set realistic goals, uncover gaps, and guide strategic improvements.
According to Google (2023), marketers who benchmark performance monthly are 2x more likely to achieve their goals compared to those who rely only on campaign-end reviews.
Why Benchmarking Matters in Digital Marketing
✅ 1. Objective Evaluation
Benchmarking removes bias by providing external reference points. You’ll know whether your 3% CTR is good—or far below your industry average.
✅ 2. Smarter Goal Setting
Benchmarks help set data-driven, realistic KPIs. This reduces guesswork and aligns your team on what’s achievable.
✅ 3. Better Resource Allocation
When you know which channels or tactics outperform the norm, you can shift budget and effort accordingly.
✅ 4. Continuous Improvement
Benchmarks provide a baseline to track improvement over time, guiding optimisation and iteration.
HubSpot (2024) notes that marketers who consistently benchmark their metrics achieve 15–25% higher ROI than those who don’t.
Top KPIs to Benchmark Across Campaigns
Here are key performance indicators (KPIs) worth benchmarking, along with average standards across industries (Statista, 2024; Content Marketing Institute, 2024):
| KPI | Benchmark Range | What It Tells You |
| Click-Through Rate (CTR) | 1.5–3.5% | Ad or email engagement |
| Conversion Rate (CVR) | 2–5% | How well you turn traffic into leads/sales |
| Bounce Rate | 30–60% | Landing page quality and relevance |
| Cost Per Click (CPC) | $0.50–$2.50 | Paid media efficiency |
| Customer Acquisition Cost (CAC) | Varies by industry | Efficiency of sales and marketing funnel |
| Return on Ad Spend (ROAS) | 3x–5x | Revenue per dollar spent on ads |
| Email Open Rate | 18–25% | Subject line and sender trust |
| Email Click Rate | 2–4% | Content relevance and call-to-action quality |
Note: Benchmarks vary by industry. For example, tech B2B companies often see lower CTRs but higher lead values compared to B2C e-commerce brands.
Sources for Industry Benchmarks
To benchmark effectively, use credible, updated sources:
| Source | What It Offers | Link |
| Statista | Data by industry and geography | Visit |
| Content Marketing Institute | B2B/B2C benchmarks annually | Visit |
| Google Think | Search, YouTube, ads benchmarks | Visit |
| HubSpot | Blog and CRM performance metrics | Visit |
| Salesforce Marketing Reports | Global campaign trends and performance | Visit |
Benchmarking in Practice: A Real-World Example
Company: Mid-sized SaaS platform
Challenge: Marketing team set a goal of 10% email click-through rate (CTR), but campaigns consistently underperformed.
Solution: After benchmarking with HubSpot data, they discovered the industry average CTR was only 2.6%. They revised expectations and focused on A/B testing to improve to 3.2%.
Result: Within two quarters, their performance aligned with the industry average, and internal morale improved due to realistic KPIs.
Types of Benchmarking in Marketing
| Type | Description | Example |
| Internal Benchmarking | Compare campaigns over time | Q1 vs Q2 email CTR |
| Competitive Benchmarking | Compare with direct rivals | Your CPC vs competitors on Meta Ads |
| Functional Benchmarking | Compare with best-in-class companies in any industry | Amazon’s recommendation email vs yours |
| Generic Benchmarking | Compare to industry averages | Open rate vs general B2B stats |
Use a mix of these approaches to gain full insight into performance.
Steps to Benchmark Your Campaign Performance
Step 1: Select Your KPIs
Pick metrics tied to your goals—e.g., leads, conversions, email engagement, or ROAS.
Step 2: Find Reliable Benchmark Data
Use platforms like Statista, HubSpot, or Think with Google to collect averages for your industry.
Step 3: Compare and Analyse
Overlay your campaign performance against benchmarks. Where are you ahead? Where are you lagging?
Step 4: Adjust Goals and Strategy
Update future targets based on findings. Use underperformance as an opportunity for focused optimisation.
Step 5: Track Progress Over Time
Create dashboard views (e.g., using Google Looker Studio or Tableau) to monitor improvements.
Tools to Help With KPI Tracking and Benchmarking
| Tool | Best For | Link |
| Google Analytics 4 | Web and eCommerce campaign tracking | Visit |
| Looker Studio | Custom dashboards with benchmark overlays | Visit |
| HubSpot Reports | CRM-integrated campaign benchmarking | Visit |
| Sprout Social | Social media performance vs competitors | Visit |
| Klaviyo or Mailchimp | Email campaign benchmarks and A/B testing | Visit |
Common Benchmarking Mistakes to Avoid
| Mistake | Why It’s a Problem | How to Fix |
| Setting goals without context | Leads to frustration and missed targets | Always research industry benchmarks first |
| Ignoring external benchmarks | You miss trends and fall behind competition | Review quarterly reports from trusted sources |
| Over-relying on averages | Your business may be an outlier | Combine with internal and competitive benchmarks |
| Benchmarking too many KPIs | Dilutes focus and decision-making | Stick to top 5–7 relevant metrics |
| Not updating benchmarks | Industry averages change over time | Review benchmarks at least twice a year |
Note
Digital marketing is fast-paced, noisy, and competitive. Without benchmarks, it’s easy to confuse activity with performance. Campaign performance benchmarking gives you clarity. It helps you understand where you stand, what’s possible, and how to improve. It transforms your KPIs from vague numbers into strategic insights.
Whether you’re trying to improve ROI, increase engagement, or reduce customer acquisition cost, benchmarking helps you measure what matters most—and keeps your campaigns moving forward.
Because in marketing, success isn’t just about doing well. It’s about knowing how well you’re doing—and how to do better.
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References
- Content Marketing Institute. (2024). B2B content marketing benchmarks, budgets, and trends. https://contentmarketinginstitute.com
- Google. (2023). Setting campaign benchmarks that matter. Think with Google. https://www.thinkwithgoogle.com
- HubSpot. (2024). Marketing metrics and KPIs: What to track and why. https://blog.hubspot.com/marketing/marketing-metrics
- Salesforce. (2023). Marketing intelligence report: Global trends. https://www.salesforce.com/resources/research-reports/marketing-intelligence/
- Statista. (2024). Digital advertising benchmarks by industry and region. https://www.statista.com
