Benchmark
A benchmark is a reference point used to evaluate performance, comparing your results against an external standard, historical data, or competitors’ performance.
In marketing, benchmarks appear at every level. Industry benchmarks give you a sense of what average performance looks like for your sector and email type, so you know whether your 22% open rate is impressive or lagging. Internal benchmarks, drawn from your own historical data, show whether performance is improving or declining over time. Competitive benchmarks, harder to obtain but valuable, indicate how you stack up against specific peers or alternatives.
Benchmarks are most useful when they are specific. A generic ‘average email open rate across all industries’ benchmark is less actionable than a benchmark drawn from companies of similar size, in your sector, sending similar email types. Email benchmarks, for instance, tend to look quite different from retail benchmarks because the audience, the relationship, and the buying context are all different.
For marketing teams, the primary value of benchmarking is direction: are we above or below the line, and are we moving in the right direction? Benchmarks should inform goal-setting and help contextualise performance reporting for leadership. They should not be used as the only standard of success. A company that is below the industry average on open rates but has exceptional click-to-conversion rates may be performing better where it matters most.
What is a good email open rate benchmark for B2B?
B2B email open rates typically range from 20-40%, depending on the industry, the type of email, and the email client measurement methodology. With the introduction of Apple Mail Privacy Protection in 2021, open rate data has become less reliable as a raw number, since many opens are now generated by machines rather than humans. Focusing on click rate, reply rate, and conversion rate as engagement benchmarks is increasingly recommended alongside or instead of open rate.
Should I compare my performance to industry benchmarks or my own historical data?
Both are valuable for different reasons. Industry benchmarks tell you where you stand relative to peers and help contextualise performance for stakeholders. Your own historical data tells you whether you are improving, which is ultimately the more actionable measure. A company whose email click rate is below the industry average but has grown consistently over 12 months is making real progress. Use industry benchmarks for context and goal-setting; use your own historical data for performance management.