Benchmark Reporting (Instantly Create a Report)

Why Should You Use Benchmark Reporting?

Measure your performance in your industry - you can assess your place in the market and identify your strengths and weaknesses compared to your competitors.
Marks what is realistically possible - you can determine whether your business is maximizing its capacity or more improvements can be made.
Determines best practices - you will be able to identify what works best for your market and what you can adopt to improve your own performance.
Shifts focus from past performance to current standing - the process pushes you to more innovative thinking to further improve your performance.
Gather up-to-date information anytime you need - this functionality allows you to gather the latest data in a few clicks.
Helps decision-making - Helps companies visualize their real time data so they can draw key insights and keep track of KPIs.

What KPIs should you include in a Benchmark Report?

The KPIs you include will depend on what aspect of your business you want to focus on, but here are some of the most common ones:

eCommerce

Average order value: the average amount spent per order

Conversion rate: percentage of the total number of visits to a website that result in a conversion action

Lifetime value: the total amount of money a customer is expected to spend on your products during their lifetime

Inventory

Sell-through rate: compares the inventory that enters your store and the inventory that you sell within a period of time

Inventory turn: how fast the inventory is replaced over time

Rate of return: rate an item is returned by the buyer

Marketing

Bounce rate: the percentage of visitors who enter the site and then leave (‘bounce’) rather than continuing to view other pages within the same site

Click-through rate: number of users who click on a specific link compared to the number of total users who view a page, email, or advertisement

Engagement rate: how actively your audience is involved with your content

Social media

Follower count: number of followers of your social media pages

Impressions: number of instances where an advertisement or any other form of digital media renders on a user's screen

Reach: number of unique people who are exposed to an advertisement or social media post

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3 Simple Steps to Setting up Reporting with Lido

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Step 1: Create Lido Account

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Click Sign up in the top right corner of the page then sign up through either Google authorization or by specifying a username and a password.

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Step 2: Connect data sources to Lido

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Clicking Data on the upper-left corner of Lido to select the source.

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Follow the instructions on entering access info and selecting the data columns to import in the Dataset Editor. Once you have finished selecting your data, click Save dataset & edit view in the top right corner. The data is now loaded to your Lido spreadsheet.

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Step 3: Set up your reporting

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To set up the dashboard, you need to do two things. First is to set up the formulas for the metrics you want to include. The formulas generally work just like in Google Sheets.

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After loading the data, click the Dashboard on the top of the Lido spreadsheet, then click the Components tab on the right side. Drag-and-drop components and add data to them.

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Once you have finished adding and placing the components, click Preview on the upper-right corner to see how it will look once deployed.

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If you are satisfied, click Share to distribute it to others!

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Benchmark Reporting

What is Benchmark Reporting