Benchmark your site alongside the industry and against your competitors to gain a better understanding of your position in the market and discover potential opportunities.
In this article, we will cover how to measure to gain insight into your level of performance within the industry, focusing on how you can improve and set goals accordingly.
We’ll cover the following key points:
How to measure traffic trends in your industry
Understand your growth potential for website traffic and engagement
Analyze traffic trends period-over-period
Understand which traffic sources are sending the most traffic to your website compared to your competitors
Monitor the overall traffic changes in your market to see how your site performs compared to your competitors by using Traffic Share. We recommend monitoring your overall traffic share on an ongoing basis to measure the efficacy of your marketing activities and flag potential threats in your market.
Within Research Intelligence select Web Industry Analysis to analyze an entire industry.
Select an Industry. You can analyze a Similarweb predefined industry or create a custom industry and include domains that are more relevant to your business.
Navigate to the Industry Trends page to compare your traffic share to the leading players in the industry and to analyze trending patterns.
Toggle between % and # to analyze changes in traffic share and volume for the top players in the category.
Focus your analysis on specific countries and time periods by using the settings bar at the top-right of the screen.
To identify threats in your market, you can search for changes in traffic % and see which domain “stole” your traffic in a certain month. You can then investigate further into this activity by going to Website Analysis ->Marketing Channels .
Benchmarking your competitors’ website traffic and analyzing the quality of their traffic is important in understanding how effective your marketing activities are. This analysis will help you to better understand your growth potential, areas for improvement, and competitor strengths.
In the top search bar, type a competing website you would like to analyze. Use the COMPARE button to add up to 4 additional domains together with your own.
On the left-hand navigation bar, go to Website Analysis > Traffic and Engagement to understand and benchmark their reach, health, and performance.
Analyze Key Insights:
understand your competitors' reach by looking at the Total Visits column
analyze the traffic over time scroll down to the graph and click on Monthly Unique Visitors.
Understand the audience quality by comparing Pages Per Visit, Avg. Visit Duration and Bounce Rates
Change the time period and target country to learn about the benchmark in a certain season or in a particular target market.
Looking at the graphs, try to identify where there is a change in a certain metric and take the opportunity to optimize. For most sites, the goal is to keep users engaged, nurture their interest, and encourage them to take the next step. The higher the number of page views and time spent on site, the more likely it is that users are highly engaged and willing to explore.
Understand the source of the change for the entire time period by analyzing your performance compared to previous periods. Using this method, you can also learn how your business is growing, and at what rate, by doing a year-over-year analysis to your website.
Looking at the graph, try to identify where there is a change in a certain metric
Stay in the Traffic and Engagement section. For this analysis, remove all the competitor sites by clicking on the X button that appears when you hover over a site.
Choose the relevant time frame, and select the option ‘Compare to previous year’ or ‘Compare to previous period’.
Analyze Key Insights:
Use Total Visits to analyze changes for the entire time period
Scroll down to the graph to see which specific months had an impact over growth/decline in traffic
Toggle between engagement metrics to understand period over period changes in traffic quality
When analyzing monthly visits period-over-period or year-over-year, toggle between the line chart and bar chart to see which devices were driving impact.
Understand how you can optimize your desktop and mobile marketing strategy by analyzing your competitors’ marketing channels traffic. By comparing your performance against the industry, you can understand where your weaknesses are, where you should invest more, and which channels show the greatest potential to generate high-quality traffic.
Navigate to the Marketing Channels. page
Click +Compare to add your competitors.
By looking at the Channels Overview you can see the breakdown of traffic across different channels.
Use the Benchmark tool to benchmark the performance of you and your competitors to the entire industry.
Note: You can pick a prepared Similarweb category or you can create your own
Look for gaps between the grey area (category traffic) and competitor data to identify the channels where you have potential in gaining traffic that your competitors are not investing in.
To learn more about how you can benchmark your performance against competitors, check out our comprehensive guide: "How to Use Similarweb for Competitive Benchmarking."