myPresences allows you to compare your performance against other businesses and allow you to do this 2 ways.
Compare yourself directly with other named businesses. You can specify named competitors\peers by indicated other businesses under your control that you want to compare against. For each of these businesses you can specify that they are either a:
- Competitors. For businesses that are seen as competitors. Competitors will be drawn as RED.
- Peers. For businesses that are not competitors and you just want to compare performance across a group. Peers will be drawn as GREEN.
Your business will appear as BLUE.
You can specify which businesses are peers and competitors in the Peers & Competitors tab on your business setup which can be accessed by clicking the cog icon beside your business name in the header bar.
Select the businesses that you consider to be peers or competitors or leave them as No Relation if you do not want them to be compared.
10 Closest Competitors
10 closest competitors provides an average of your 10 geographically closest competitors for all of the KPI's that you both share across all services where you or those competitors have a presence. This is great for knowing how you compare to other businesses like yours that are close to you.
To use this feature effectively it is very important that you correctly specify your geolocation and your business type otherwise your set of 10 competitors may be very different to your own business.
Your 10 closest competitors will be drawn as GREY on graphs.
Things to be aware of:
- If myPresences is not tracking 10 businesses with the same business type this number may be less than 10. This may be the case for some business types that are not well represented yet but will improve over time.
- The geographic region is not limited. This means that you may be compared to businesses in other countries if the 10 closest are not found within your country. As more businesses are added to mypresences your 10 closest will automatically be adjusted every few days and will change your 10 closest to include new businesses that have been added.
- You may see large variations. Your 10 closest businesses are adjusted periodically as new businesses are added and when this occurs businesses coming in and going out of the averages will cause big positive and negative variations. This will reduce as more businesses are added to mypresences and your 10 closest competitors become more stable.
- Your 10 closest are not disclosed. At present your 10 closest competitors are anonymous. We have had requests to make this available and we may do so in the future.
- You may be compared on KPI's for services you have no presence on. One of the best feature of 10 closest competitors is that you will see comparison information for services where you don't have a presence yet .. this is useful because you can see your competitors do have a presence on that service and that is a good indication you need to be there too. For example, if you are a restaurant but are not on Tripadvisor then you will see an average rating for your competitors on Tripadvisor but your business will be blank.
Where can I see Comparisons?
At the moment there are 2 places where comparison information appears:
- Timeline. When any of your datapoints change you will see a chart showing the change of this value over time. You will also see the changes for your 10 closest competitors for the same data point and if you have configured named competitors you will a line for each of them. You will also see an indicator telling you wether you are ahead or behind your 10 closest competitors and by how much.
- Dashboard. The dashboard will include information on your 10 closest competitors in addition to your own data. This is particularly useful for seeing how your business compares for ratings and other KPI's against your competitors on various services.
The next major update of myPresences will include an overhaul of the dashboard to include a lot more detailed information on how your business compares with your 10 closest and named competitors on more KPI's with the added ability to drill down on changes over more time periods.
Access to Comparisons
Named competitors are available as part of the Aware Plan and 10 Closest is available on the Involved Plan.
To use named competitors you need to have some other businesses to compare against .. these can be other businesses you are tracking and you can use the Free Extra Presences that come with the paid plans for this Purpose. On the Aware Plan you get 1 extra location and the Involved plan gives you 3 extra locations.
You will need to add the businesses you want to compare against and add the presences you wish to compare against. You should also check the timelines of these businesses periodically to see what activity is occurring for your competitors.