Introduction
The Teikametrics Index data in Compass provides valuable insights by allowing you to compare your performance metrics with those of other Teikametrics users. This feature can help you gauge how your business is doing compared to peers, identify areas for improvement, and make data-driven decisions. Read on to learn more about using benchmark data effectively.
How Benchmark Data Works
Benchmark data is available for both Amazon and Walmart marketplaces and includes key metrics like CPC, ROAS, TACoS, and ACoS. When you select one of these metrics, Compass will display your performance data as a line on the graph, alongside the benchmark data, which represents the aggregated performance of Teikametrics users. To utilize this feature, click on the Teikametrics Index for Amazon, Walmart, or both.
*Note: Benchmark data is an aggregate value based on the first advertised date across all products and categories. Benchmark data for Walmart is only available in U.S.
Using Benchmark Data
Benchmark data can be a powerful tool for improving your advertising strategies. Here's how you can make the most of it:
Baseline for Comparison: Benchmark data offers a baseline for assessing your advertising performance. It helps you gauge how your metrics, such as CPC, ROAS, TACoS, and ACoS, stack up against other Teikametrics users.
Category Variability: Keep in mind that while benchmark data provides insightful comparisons, metrics can vary by category. More competitive categories may exhibit different metrics than less competitive ones. Therefore, your category's competitiveness plays a role in interpreting the data.
Seasonality and Events: Benchmark data captures trends and averages, but it doesn't consider factors like seasonality or special events (e.g., Prime Day). These events can significantly impact your advertising metrics, so it's crucial to consider them alongside benchmark data.
Marketplaces Matter: Different marketplaces may have distinct advertising dynamics. Therefore, benchmark data may differ between marketplaces, reflecting the unique advertising landscape of each platform.
Strategy Adjustments: If you notice significant differences between your metrics and the benchmark, consider adjusting your advertising strategies accordingly.
In summary, the Teikametrics Index data offers a valuable perspective on your advertising metrics by comparing them to aggregated data from Teikametrics users across categories. However, it's essential to consider category competitiveness, seasonality, events, and marketplace differences when interpreting this data. Use it as part of your broader insights toolkit to make informed decisions about your advertising strategy.