Find out how your marketing stacks up with Braze Benchmarks
May 5, 2021
Data-driven marketing is a must in today’s competitive landscape. Over the past decade, consumers have come to expect personalized, relevant, and timely messaging from the brands they love. However, merely creating personalized campaigns based on your company’s own real-time data doesn’t cut it anymore. You need to evaluate how consumers are reacting to those campaigns, iterate, and then optimize your customer engagement. A great place to start is measuring your campaign performance against industry peers to see how your marketing truly stacks up.
With Braze Benchmarks, you can do just that. A data-driven interactive tool powered by Braze, Looker, and Snowflake, Benchmarks gives marketing, growth, product, and business intelligence (BI) teams access to live anonymized user engagement data by channel, operating system, and industry. And with the release of our new Braze Benchmarks Looker Block, it’s easier than ever for you to compare your own marketing efforts to industry benchmarks — and to do it live, within a single dashboard. That makes it possible to consistently evaluate performance, rather than doing occasional ad hoc comparisons.
Getting to meaningful data benchmarks
At Braze, we see data as central to what we do — and to the engagement strategies that our customers’ success depends on. Our platform generates and captures billions of data points about user behavior and message engagement.
To create meaningful benchmarks, we anonymize and aggregate engagement data from our customer base of over 1,000 global brands across 14 major industries to provide insights that encompass the past year from the current date. Comparing your metrics to this aggregated dataset puts your engagement results into context, helping you dig into the messaging-related metrics that can make a difference to your marketing efforts.
To access Benchmarks, click on the drop-down menu to choose an industry and immediately generate a report based on the latest data.
What’s included in Benchmarks
Report data within Braze Benchmarks includes:
- Channel-based engagement (open and click rates)
- Daily and monthly retention rates by platform
- App usage benchmarks
- User acquisition by platform
- Purchase and conversion rates
- Average time to purchase statistics
- Purchase retention metrics by platform
In addition to tracking each of the metrics listed above, you can:
1. Drill down by industry
Benchmarks lets you research metrics from 14 different industries to see how your brand compares. Since there’s a reasonable amount of variance from industry to industry, you’ll want to compare your brand and its messaging results against your specific vertical — not just overall numbers.
2. Optimize your campaigns
Benchmark metrics help you better understand your vertical, set new goals, and optimize your existing campaigns. We recommend using these reports in conjunction with testing, personalization, and customer journey management to improve metrics that are below industry benchmarks.
3. Track engagement trends
Benchmarks highlights notable year-over-year and month-over-month trends. For instance, iOS push open rates rose by 17% between September and December of 2020, highlighting the growing impact of this channel when it comes to reaching consumers on iPhones and other Apple devices.
Introducing the Braze Benchmarks Looker Block
Now, with the launch of our Braze Benchmarks Looker Block, you can seamlessly access Benchmarks data within your Looker instance to help you compare your campaigns’ results to industry benchmarks so you know where to focus on improvement.
Here’s how it works: The Looker Block mimics the functionality of Benchmarks to allow teams to compare their own Braze engagement data and anonymized industry data sets for comparison. From there, teams can conduct what-if projections, set thresholds for alerting via the Looker Action Hub, and more.
Want to learn more about how this new Looker Block can help you compare data sets and make better informed marketing decisions? Current Looker customers can visit the Looker Marketplace and search for “Benchmarks by Braze” to get started. For more information about how Braze and Looker can be used together, check out the Braze partner page.