This article contains frequently asked questions that arise when using Benchmark Widgets in TapClicks. You can quickly navigate to a particular FAQ by using the table of contents below.
What are Benchmark Widgets, and what do they do?
How do Benchmark Widgets work?
Are there data requirements for the Benchmark feature to work?
How do Benchmark Widgets help me?
What are these ‘industry segments’ based on?
How does this information show up in TapClicks?
How accurate is the information?
Which Benchmarks are available today?
Which geographical areas are covered?
Which data sources support Benchmark Widgets?
Can I benchmark by tactic or media type, e.g., Display, Search, or Device?
Is it possible to benchmark by geographical region?
What are Benchmark Widgets, and what do they do?
Benchmark Widgets are “combo” widgets — Bar and Line Charts with additional benchmark lines — designed to help you compare your business’s or your managed client’s performance against industry benchmarks. These benchmarks are specific to the industry segment of your client or business.
How do Benchmark Widgets work?
TapClicks “TapInsights” uses machine learning and AI to analyze advertiser data from platforms like Google Ads, Microsoft Ads, and Google My Business. It computes industry benchmarks based on this data, allowing you to compare a client’s (or your business’s) performance against those benchmarks.
Are there data requirements for the Benchmark feature to work?
Yes, an advertiser must be connected to Google Ads, Microsoft Ads, or Google My Business connectors to enable machine learning algorithms to generate industry predictions and benchmarks.
How do Benchmark Widgets benefit me?
Benchmark Widgets automatically classify your campaign data into relevant industry segments. This allows you to present your performance data in dashboards and reports, helping you evaluate how your marketing efforts stack up against other businesses in the same industry segment.
What are these ‘industry segments’ based on?
We use the North American Industry Classification System (NAICS), which divides the U.S. economy into 308 distinct industry groups, each identified by a 4-digit code.
What is the NAICS?
The NAICS is the standard used by federal statistical agencies to classify business establishments to collect, analyze, and publish statistical data related to the U.S. business economy.
How does this information show up in TapClicks?
When configuring the widget, you must select a specific client to filter the data. In addition to showing the client’s performance, the corresponding NAICS 4-digit industry code is displayed in the client record.
How accurate is the information?
Our analysis indicates that the AI-generated industry classifications are up to 99% reliable.
Which Benchmarks are available today?
As of the first release (August 2024), the available benchmarks are CTR (Click-Through Rate), CPC (Cost Per Click), and CPC (Cost Per Conversion).
Which geographical areas are covered?
Currently, benchmark data is based on U.S. data only.
What data sources support Benchmark Widgets?
As of the product release (August 2024), the supported platforms are:
- Facebook Ads
- Google Ads
- LinkedIn Ads
- Microsoft Advertising
- Simpli.fi
- TheTradeDesk
Can I benchmark by tactic or media type, e.g., Display, Search, or Device?
Benchmarks can be segmented by tactic or media type, but only with the Google Ads data source. Other data sources do not currently support this level of segmentation.
Is it possible to benchmark by geographical region?
Geographical benchmarking is not yet available but is expected to be added in the future. Note that this feature requires data sources that support geo-location data, and this data must be pulled into your TapClicks instance.