How to Benchmark Your Campaign Performance
Understanding key metrics helps brands take the guesswork out of paid advertising by benchmarking performance in a way that drives real growth.
What Does Benchmarking Campaign Performance Mean?
Benchmarking is the process of comparing your campaign results against relevant points of reference. These can include:
Your past campaigns: How does your current performance compare to previous months or years?
Industry standards: Are your CTRs, CPCs, or ROAS above or below the averages for your sector?
Competitor activity: Are similar brands outperforming you in key KPIs
Without benchmarks, you have limited context for success. For example, a 3% CTR might look good in isolation, but if your industry averages 6%, you’re leaving potential on the table.
Key Metrics to Benchmark
Many metrics work together to create a comprehensive picture. Focusing on the right KPIs ensures your benchmarks reflect meaningful outcomes. So what are some of these KPIs? Let’s take a look.
Click-Through Rate (CTR)
CTR is one of the clearest signals of how well your ads are connecting with your audience. Comparing your CTR to industry benchmarks can reveal whether your messaging is landing or falling flat. If it’s underperforming, it’s a cue to experiment with different creatives, refine your ad copy, or test alternative formats until you find what truly resonates.
Cost Per Click (CPC)
CPC reveals how efficiently your ad budget is being spent. Benchmarking helps you see whether you’re paying a fair price for engagement. While a lower CPC can look appealing, it’s not necessarily better. Sometimes spending a little more per click brings higher-quality leads who are more likely to convert. The goal is to find the balance between cost and value for your business.
Conversion Rate (CVR)
CVR measures how many people take the action you want them to. The action can include filling out a form, making a purchase, or booking a call. Benchmarking this ensures you’re not just driving traffic, but turning clicks into meaningful conversions. When you know how your CVR compares to industry standards and past campaigns, you can make smarter optimisations that directly impact results.
Cost Per Acquisition (CPA) & Return on Ad Spend (ROAS)
CPA and ROAS are the ultimate proof of performance. Compare these metrics against past campaigns and industry standards to identify whether your campaigns are profitable and where optimisations may be needed.
Impression Share
Impression share highlights your visibility against competitors. Benchmarking can reveal whether your budget, bidding strategy, or targeting needs adjustment to capture more market share.
Steps to Benchmark Effectively
Now that you understand some of the key metrics, let’s view five steps to benchmark effectively.
Collect accurate data: Use reliable reporting tools and ensure your tracking is set up correctly. Historical campaign data is a very valuable starting point.
Segment your campaigns: Don’t lump all campaigns together. Benchmark by campaign type, audience, geography, or product to get actionable insights.
Use industry reports: Leverage public data and reports from Google, Meta, or industry associations to establish external benchmarks.
Analyse trends, not just points: Benchmarks are more valuable when you track them over time. Look for upward or downward trends to guide decisions.
Act on insights: Benchmarks are only useful if they inform your strategy. Use them to optimise targeting, creative, budgets, and bidding strategies.
Why Benchmarking Matters
Benchmarking gives you context, helping you understand what’s working, what isn’t, and where there’s room for improvement. Without it, it’s easy to misread results and think that a campaign is performing well when it’s actually underdelivering.
Benchmarking also uncovers opportunities you might otherwise overlook. It can reveal areas where small tweaks could dramatically improve ROI or show where you’re outperforming competitors in specific segments. By looking at your historical performance alongside industry standards and competitor activity, benchmarking turns raw data into clear, actionable insights that guide smarter decisions and better campaign outcomes.
At Glassbox, we take benchmarking a step further. We combine your campaign history with competitive insights and sector benchmarks to give you a realistic, actionable view of performance. The result? Campaigns you can confidently optimise, scale, and grow, with data that tells the real story.
