%20Data%20in%20GA4.webp)
Quarterly Business Reviews (QBRs) are an essential part of evaluating business performance, helping businesses track progress and make informed decisions. But to truly understand success, numbers need context. That’s where benchmarking comes in—comparing your key metrics against past performance and industry standards to identify strengths, weaknesses, and areas for improvement.
With Google Analytics 4 (GA4), businesses can establish internal benchmarks for traffic, conversions, and engagement while also analyzing broader trends.In this guide, we’ll walk you through the process of setting meaningful benchmarks, comparing quarterly performance, and leveraging data to drive smarter business decisions.
GA4 Benchmarking in QBR Reports: A Quick Overview
Benchmarking data in GA4 QBR reports helps you compare your website’s performance to industry standards. It provides context for your metrics, reveals growth opportunities, and guides you in setting realistic goals. Plus, it’s a great way to show stakeholders how your efforts measure up against competitors.
.webp)
To learn more about benchmarking in detail, check out our recent blog post: Host a Quarterly Business Review with GA4: Expert Tutorial.
Benchmarking in Action: A Practical QBR Example
If you're still unsure how benchmarking can enhance your QBR, here's a practical example:
Imagine your e-commerce website has a 2.5% conversion rate. On its own, that number may seem acceptable — but is it really? By comparing it to industry benchmarks, you find that similar e-commerce sites in your niche average a 3.5% conversion rate.
This comparison reveals a gap, highlighting potential areas for improvement. You can then analyze your checkout process, product pages, or promotional strategies to understand why you're falling behind. This insight will guide you in evaluating your website's quarterly performance, setting achievable goals, and developing a strategy to align your results with industry standards.
Where to Find Industry Standard Data for Benchmarking
This is an important question. Before diving in, it's important to clarify that we're specifically referring to Google Analytics 4 (GA4) and other Google tools that integrate with it. While similar concepts apply to other platforms, this guide will focus solely on leveraging GA4 data for benchmarking.
Before we dive in, it's important to clarify that while we'll primarily focus on GA4 data, we'll also highlight two key types of benchmarking. Although there are several benchmarking methods, these two are particularly relevant:
- Competitive Benchmarking — This involves comparing your data with industry standards or competitors to understand where you stand in the market.
- Internal Benchmarking — This focuses on comparing your current data with your own historical performance to track growth and identify trends.
Internal Benchmarking
This type of benchmarking involves comparing your current GA4 performance data with your own historical data to track progress, identify trends, and uncover areas for improvement. There’s no fixed method for setting benchmarks — it depends on the specific data points you choose to analyze. Essentially, by reviewing your quarterly trend data (or any chosen timeframe), you can establish meaningful benchmarks based on those insights.
Let's say your website’s purchase conversion rate for Q1 was 2.5%.
- In Q2, after improving your checkout process and enhancing product descriptions, your conversion rate rises to 3.2%.
- By comparing these two periods, you can assess the impact of your improvements and set 3.2% as your new internal benchmark.
- Moving forward, if your conversion rate drops below this value, it signals a potential issue that may require attention.
.webp)
This process helps you track performance changes, evaluate the success of your strategies, and set realistic goals for future growth. In GA4, there are various types of internal benchmarking data you can use. While there are no fixed benchmarks, common performance data points include Channel, Audience, Event, and more — This allows you to set your benchmarks based on your business goals and key metrics.
Competitive Benchmarking
Competitive benchmarking is the process of comparing your business performance metrics against industry standards or direct competitors. This approach helps you identify strengths, weaknesses, and opportunities by analyzing how your data stacks up against others in your field.
For example, in GA4, you can compare metrics like engagement rates, conversion rates, or bounce rates with typical values for businesses in your industry. This insight helps you understand if you're outperforming, meeting, or lagging behind competitors — guiding your strategy for improvement. Here are the ways to do this:
The GA4 Benchmarking Feature
GA4 recently introduced a new Benchmarking feature. For a detailed breakdown, check out our recent blog post: [GA4 Benchmarking Decoded: Unlock Advanced Insights]. This feature in Google Analytics 4 allows you to compare your website's performance metrics against aggregated industry data. Its aim is to help you understand how your site performs in key areas like traffic, engagement, and conversions compared to similar businesses in your industry.
However, many marketers have yet to fully adopt this feature, partly due to its current limitations, which may result in limited value for some users. Since this is a new feature, it's important to remember that GA4 is continuously evolving, and improvements are likely on the horizon. While opinions on its usefulness may vary, it's still worth exploring to see how it can benefit your reporting and insights.
External Benchmarking Approach
External benchmarking involves comparing your website's performance metrics against data from external sources. This approach helps you understand where your business stands relative to others in your industry.
In the context, aside from the GA4 Benchmarking feature, external benchmarking can be done through:
- Third-Party Tools and Reports: Platforms like Semrush, SimilarWeb, or Statista provide broader industry insights for performance comparison.
- Publicly Available Data: Industry reports, case studies, and published benchmarks provide valuable insights for external comparisons. While some resources are available for direct download, others may require a basic sign-up with your email address and consent to receive their newsletter. Below are some examples of publicly available data sources.
- 2025 Digital Experience Benchmarks by Content Square
- Content Marketing Benchmarks by Industry for 2025 by Databox
- Benchmarking Website Traffic: Complete Guide + 2025 Industry Data by Similarweb
These are just a few examples of publicly available resources. You can leverage this information to establish meaningful benchmark data for your performance analysis.
Making Data-Driven Decisions Based on Benchmarks
Before we wrap this up, we need to fully understand that benchmarking data is invaluable when making informed decisions for your business. Here’s how you can use benchmarking data to guide your decision-making process:
1. Identify Areas of Success and Improvement
Compare your GA4 data with industry benchmarks to spot strengths and weaknesses. A higher conversion rate than the industry average signals a success, while a lower engagement rate may highlight areas to improve, such as content or user experience.
2. Adjust Marketing Strategies Based on Comparisons
Refine your marketing strategies using benchmarking insights. If your email CTR is below average, adjust subject lines, content, or timing. Similarly, if your paid ad ROAS is lagging, revisit audience targeting or creative elements.
3. Set New Goals for the Next Quarter
Use your benchmarking insights to set realistic goals. For example, if your Q4 checkout completion rate was 60%, aim for 65% by improving the checkout process or enhancing product descriptions. Clear, data-driven goals keep your strategies focused and effective.
Conclusion & Next Steps
Benchmarking data helps you to make strategic, data-driven decisions to improve performance over time. By consistently reviewing your GA4 data against internal and external benchmarks, you can:
- Spot trends that indicate success or potential issues.
- Refine strategies to align with industry best practices.
- Set achievable goals to ensure ongoing growth.
As you continue refining your benchmarking process, consider adjusting your data points based on seasonal trends, marketing campaigns, or product updates. Benchmarking isn't a one-time process — it's an evolving strategy that requires regular assessment and adjustment.
By adopting a data-driven mindset, you’ll be better equipped to present insightful Quarterly Business Reviews that showcase progress, identify key opportunities, and guide future decisions effectively.
