Dynamic Yield Launches eCommerce Benchmarks
Dynamic Yield, a customer experience optimization platform provider, today released eCommerce Benchmarks, a free tool enabling marketers to compare their conversion metrics with aggregated anonymized industry data from other companies.
The benchmarking data, which is based on more than 200 million monthly unique users collected over 300 million total sessions, is available for seven key conversion metrics, including shopping cart abandonment, conversion rate, and add-to-cart rate, across locations, devices, and industries.
Using eCommerce Benchmarks, companies can dive deeper into any one metric for a month-over-month breakdown, complete with the formulas used, major trends noticed, and recommended reading and strategies for improvement.
"Our new industry benchmarks tool helps businesses focus on what's working and improve on what's not. It is designed to help them prioritize experience optimization opportunities, set realistic goals, and maintain their competitive analysis," said Yaniv Navot, vice president of global marketing at Dynamic Yield, in a statement. "Our customer base consists of hundreds of global brands who have been testing, optimizing, and elevating online experiences for years, and can provide a strong baseline to aspire to and surpass."
One of those companies is Build.com.
"Creating an optimal customer journey is not a simple task. It takes a complete understanding of not only your own data but of where you stand with your competitors," said Robbie Reaves, product manager at Build.com, in a statement. "The eCommerce Benchmark tool allows us to compare ourselves with other retailers in the same industry and helps us better understand what customer experiences we need to prioritize."