Similarweb and HypeAuditor Release Digital Marketing Benchmarks for Seven Industries

In a time of economic and budgetary turmoil, digital marketers can take advantage of a free resource to understand the competitive landscape and how they can compete better.

“This is the kind of comparative data companies often spend a lot of money having consultants compile as they seek to optimize and improve their own performance,” Similarweb CEO Or Offer said. “We’re sharing it for free to give businesses who operate online a taste of what our platform offers in terms of competitive intelligence. And of course, we stand ready to assist clients with deeper and richer investigations of the online landscape across the web, mobile apps, and ecommerce platforms.”

The 2024 Marketing Benchmark Report, created in partnership with influencer marketing specialist HypeAuditor, presents detailed digital marketing benchmarks for seven industries in the US: Hotels & Accommodation, Beauty & Cosmetics, Consumer Electronics, Home and Garden, Jewelry & Luxury, Pet Food & Supplies, and Fashion & Apparel.

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“It’s safe to say that influencer marketing has come a long way since its inception; no longer on the sidelines of the digital marketing landscape, it now stands as one of its pivotal forces,” HypeAuditor CEO Alex Frolov said. “This report underscores the most essential influencer marketing metrics, and in doing so, makes a startling revelation – not only has influencer marketing become integral to shaping brand narratives and connecting with audiences, but it has also reached a point where its impact is nearly equivalent to that of other marketing channels.”

For each of the seven categories, Similarweb and Hype Auditor studied 1,000 of the most visited web domains to determine what separates the “giants” (the top 10) from the challengers (ranked 11 to 100), and the “up-and-comers” (101-1,000).

Key metrics covered include:

• Website traffic: overall and by specific marketing channel (including direct, organic, paid, and referral)
• Website engagement metrics: bounce rate, pages per visit, time spent on site
• Instagram followers
• Influencer marketing reach

With Google algorithm changes, AI disruptions, and the growing importance of TikTok and Instagram influencers, keeping track of the competitive environment is more important than ever. Getting ahead requires knowing where your organization leads and where it is lagging.

Unfortunately, benchmarking is a complex task that’s often forgotten, deferred, or squeezed out of budgets. “With this report, we can help digital marketers contextualize their performance, set goals and find opportunities in 2024,” Offer said.

SOURCE: Businesswire