The Enhanced Content Benchmarks Report allows you to compare a clients' product performance against other companies' products within the same category, and against products on sites where you have active and published content. This performance can be evaluated based on filtering by category, site, or time period.
The Benchmarks Report has 4 key KPI cards summarized at the top of the report:
- Viewability Rate: How often your enhanced content is viewed compared to the total page views. The higher the number the more often your content is viewed. (Formula: Viewable Impressions / Visits).
- Interaction Rate: How often a visitor clicks on one of your Enhanced Content widgets when they see your content. (Interactions / Viewable Impressions)
- Avg Time on Page: How long, in seconds, a user spends on a page in a single visit (Time on Page / Sessions). The longer a visitor spends on a page, the more engaging the content is.
- Conversion Rate: How often a user adds a client item to cart, compared to the overall number of unique visits (Baskets / Uniques).
KPI Cards:
The KPI cards help you to compare their shopper activity with that of competitors or the category. The higher the rates or time spent, the more engaged the shopper is. When the numbers are higher than the category or page overall, this means the Enhanced Content is outperforming industry peers.
KPI Detail:
Each KPI card can be selected to show more detailed information. In this example, the Viewability Rate details are shown below the cards. These charts are linked, so all the images and data will match the filters that are selected before generating the report.
Percentile Chart:
Histogram that shows how the client’s products are performing against the benchmark category overall, using “Low, Median, High” as relative to overall performance of the benchmark.
The Percentile chart captures where your product performance falls relative to the lowest and highest performing competitive products, as well as the middle value in the full range of benchmark values. The full range of benchmark values has been broken up into three groupings (also known as quartiles), shown in the visualization as grey dashed lines with the labels "Low", "Med", and "High". Your product performance value is displayed as a single blue bar on this chart.
In the context of the example above, imagine that there are 100 competitive products total that are associated with the benchmark value.
- We counted the 25 products with the lowest Viewability Rate values (also known as the first quartile or 25th percentile) and they all have a Viewability Rate of 36% or below. 36% is displayed on the chart as the "Low" benchmark score.
- We also counted the 25 products with the highest benchmark scores and found that they all have a Viewability Rate of 100%. 100% is displayed on the chart as the "High" benchmark score (also known as the third quartile or 75th percentile).
- Looking at the full range of Viewability Rate values across all 100 competitive products, the product in the 50th spot in the list has a Viewability Rate of 72%. This is displayed on the chart as the "Med" benchmark score ("Med" being the abbreviated form of median, also known as the second quartile or 50th percentile).
In the above example, your Viewability Rate is 64%. This means that your products are performing much better than the lowest quartile of competitive products which are at 36% and below, but slightly worse than the top 50 out of 100 competitive products with Viewability Rate values which range from 72% - 100%.
Benchmark Trends Chart
Performance of the client’s products, over time, compared to the benchmark category overall, so you can see visually how things are trending over time.
Site Level Data Table
This table is a further breakdown of the Percentile histogram chart, by each site that is filtered. The table includes the calculated value for the selected KPI, the benchmark level (e.g. Low, Median, High), and a visual trend line (spark line) for the row.
Note: You can only filter on sites that they publish to, and they will only see the categories that are classified in.
Category Classification
Each client’s product is classified into a category. Since Enhanced Content can be used across products or categories, they often do not have Syndigo Taxonomy classifications.
That is why Syndigo designed a specific machine learning algorithm to classify Enhanced Content automatically. The algorithm looks at Level 1 and Level 2 classifications (e.g. Food / Beverages > Frozen Foods) to determine the group of products to benchmark against. The algorithm must find a confidence match of 85% or greater in order to include an item in the benchmark comparison.
In addition, products can always be manually classified or changed by a client, which over time, will help to “train” the algorithm to make even better benchmark comparisons. The client benefits from a continually optimized process of better information.
FAQ
Based on our clients’ feedback, we continue to invest in the user experience to deliver more meaningful and actionable insights. This is the first of several significant new capabilities that will help you to improve your online content performance with less effort and more impact.
I am missing data in the charts.
Benchmark data is only present when competitive products are viewed by visitors during the time period captured by the report. For that reason, competitive product data may not exist for the selected time period and retailer sites.
If frequently observed, the following may be true:
- Competitive product data is nonexistent for the time period, product category, and/or list of sites. This can be caused by visitors not viewing competitor Enhanced Content, or competitors publishing Enhanced Content for only a limited period of time.
- My products data is nonexistent for the time period, product category, and/or list of sites. Visitors may not have viewed your Enhanced Content or your products' Enhanced Content may have been published for only a limited period time.
Recommendations:
- Update your filter options for the Enhanced Benchmarks report. Expand the time frame, number of categories, or the sites to capture more data in the report.
- Validate the product categories presented in the filter panel are most relevant to your analysis. If you would like to modify the categories assigned to your product catalog, please contact Syndigo support to adjust these accordingly.
- Note that your Enhanced Content publication history impacts the availability of "my products" data in the Enhanced Benchmarks report. "My products" data refers only to Enhanced Content that is active on retailer sites for the selected time period.
I want to see the categories assigned to my products.
Option 1: At the individual product level
- Navigate to your Product Details Page and select the Properties tab.
- View the Product Category section to see how this product was categorized.
Option 2: At the report level
- Expand the filter panel on the left of the Enhanced Benchmarks report.
- Under the Category section of the filter panel, observe the categories listed. This list represents all categories assigned to your entire product catalog.
How do I change the categories assigned to my products?
- Make note of the categories that you may want to remove or adjust from the Enhanced Benchmarks report. You may include specific product information, but it is not required.
- Provide the list of category modifications to Syndigo support or your Syndigo representative.
- A representative from Syndigo will respond with a detailed list of products impacted by the reclassification to confirm the modifications requested.
- After confirmation is received, the system shall be updated to reflect the category modifications.
