How to Assess the Success of Your B2B Marketing Using Statistics.

How to Assess the Success of Your B2B Marketing Using Statistics.

Understanding the return on B2B marketing investments is crucial to delivering effective marketing programs that achieve your company’s needs and goals. Consistent with a 2019 survey from the Content Marketing Institute, the most successful companies are those that take the time to measure their marketing ROI. So what are the marketing metrics that matter, and why do they matter?

Blog Banner 24 1

Brand-Oriented Versus Revenue-Oriented Metrics.

As a general rule, there are two broad categories of metrics that matter: brand metrics and revenue metrics. Understanding the utilization of both is critical to achieving a return on your marketing investment.

Brand-oriented metrics measure success in terms of awareness, relevance, and differentiation. Examples include social engagement, website traffic, branded search volume, and impressions. These metrics help analyze the topmost component of the marketing funnel and broadly indicate how many people are aware of your business and what portion of them are likely buyers of your product or service.

When it involves brand awareness, it’s crucial to specialize in the right people and make them aware of your business at the right time. Measuring brand awareness demonstrates that the right people (potential customers) are responding to the delivered messages. Specifically, the click-through rate, which is measured by dividing the number of people who click on your ads by the number of times they are shown, could even be a great indicator of this also, because of the average time a customer spends on your website.

Revenue-oriented marketing metrics measure what proportion of the audience is converting into paying customers. They’re also mentioned as conversion metrics because this data may be just one piece of the sales/revenue-generating process, particularly if there is a longer sales process that marketing-derived leads go through. These metrics are often weakened further into sales metrics, which may include customer lifetime value, cost of sales, and customer acquisition costs. There also are finance metrics, which track the general financial status of your company, like your margin of profit, revenue per employee, and return on ad spend. These metrics provide insight into the underside of the marketing funnel those clients who are buying, renewing, or leaving.

Because both brand-oriented and revenue-oriented metrics fluctuate, they should be measured often – on a weekly or maybe daily basis – and reviewed by management.

Beware of Vanity Metrics.

All brand-oriented and revenue-oriented metrics are important, but it’s necessary to differentiate between vanity metrics and actionable metrics. Vanity metrics look amazing on paper but don’t deliver specific tangible business results. Brand awareness metrics like the number of followers, views of a specific video or likes do not on their own drive actionable insights. Therefore, they go to be seen as vanity metrics, and focusing solely on them won’t deliver results.

Instead, identify and concentrate on the actionable metrics that genuinely matter to the success of your business. These data provide insight into the tangible steps to wish in order to drive profit. Among the foremost valuable data points are conversion rates and A/B testing results. Conversion rates indicate that the established buyer’s journey is yielding customers, and a lower yield means it’s time to tweak the journey. A/B test results highlight success in messaging and call to action. They ask: is that the audience doing what you’d like when you ask them to do it?

For the standard B2B company, vanity metrics aren’t helpful for actionable decision-making, but they’re valuable as a gauge of brand awareness. Knowing follower data and engagement statistics indicate where you sit within the brand awareness value chain, which is measured by your customer’s perception of your brand’s value. Measuring metrics like your audience rate of growth which tracks how quickly you’re gaining followers – and your post reach which tracks what percentage of people have viewed your post since it was published – are key methods of determining brand awareness. together with conversion metrics, vanity data is effective, but alone it’s not offering sufficient insight into what is specifically working or not working in the business model.

Demonstrate Your ROI: because of Delivering to Executives.

Senior executives expect information from marketing that demonstrates exactly how the investments contribute to the objectives of the organization. they need to know where the brand fits in the market and how it is perceived by the target audience – brand equity. which they have to know how many and how quickly prospects turn into paying customers: revenue.

The KPIs reported to senior management have to align with the business strategy and financial goals of the company. Start with the very best goal in mind. as an example, if the company’s goal could even be a 15% increase in revenue, then all of your marketing metrics need to show the contribution marketing makes to reach that goal. Therefore, metrics like marketing lead conversion rates and conversion velocity along with revenue per lead will highlight to executives the path that the firm’s marketing is on.

Marketing metrics are designed to assist businesses to grow in alignment with a company’s vision. Once you identify the precise metrics that interest your company and its goals and then overlay a strategic approach to analyzing those metrics, your entire C-suite will appreciate it once you successfully deliver a tailored marketing program that achieves objectives that ultimately drive profit.

Intent Amplify is a privately-held B2B lead management company that helps businesses amplify their lead generation and management efforts. We offer a suite of solutions that help businesses interact with potential customers across channels, and help them manage their sales pipelines more effectively. Our solutions are multi-lingual, and our team has deep expertise in lead generation and management. We work with businesses to help them empower their sales teams through meaningful interactions with potential customers.

Contact Us

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe Now, and Celebrate Later!

Get B2B content directly in your inbox!!