How do you compare to the competition?

To answer this question, you would need millions of users and billions of page views across the whole internet.

Luckily, Mixpanel has just this kind of data. They are the analytics company after all.
They have looked at aggregated data from 1.3 billion unique users performing 50 billion events around the globe.
That’s a nice sample size!

After they analyzed this data, they found average and best-in-class benchmarks in four popular industries:

– financial services
– media & entertainment
– software-as-a-service (SaaS)
– e-commerce & retail

If you want to know how these industries perform, you should get their report.

One sample chart from the report below.

It’s an answer to the unanswerable question which I get a lot: “What is a ‘normal’ conversion rate?”

Usually, the answer is “it depends.” But people are never happy with such an explanation. So here’s the chart!

Conversions are certainly different for each industry, but at least you get a number and a vague idea.

average conversion rates

A transaction in finance or a subscription in SaaS is hardly comparable to a “view media” conversion, but it’s a good start to see where you stand compared to your industry’s average.

Besides conversion rates, there are similar charts and numbers for usage, retention, and engagement.

Fascinating read!

Follow the link and have a look yourself.

Have a nice comparison session!

How do you compare to the competition? 2017 Product Benchmarks Report