Update date : 10 Feb 2022 | 6 Min Read
In recent years, marketing metrics have not been the only ones changing. The understanding of their importance also underwent a massive paradigm shift. Earlier, it was pretty easy to calculate current and future marketing KPIs after analyzing the conversion rate, average order value, and average position of the B2B products and campaigns. However, many of these KPIs were based on strong assumptions and a randomly selected sample of a product's audience, competing in an uncontrolled environment. To meet this need, the birth of inbound personalization replaced inbound marketing.
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Metrics can be tricky to track, and continuing to build the proper foundation can bring tremendous rewards in improving the outcome of a campaign. Your measurement setup needs to be composed of stable, repeatable, and easily understood metrics. Besides the inherent difficulty, measuring these elements also directly bears whether we can truly create meaningful and accurate insights by comparing them against one another.
This optimization process can consist of the following:
Adopting the above marketing optimization task as the strategic baseline will enable you to increase or maintain the current lead value for your B2B business. Your marketing campaigns form a necessary part of your overall sales and marketing strategy, depending on your specific business. These campaigns can include the content and email marketing activities used to assess those campaigns. As the marketing manager, you need to develop and apply a strategic plan to optimize your efforts, measure the results, and adjust the processes to ensure maximum efficiency.
Here are some actionable takeaways that serve as important reminders of properly tracking marketing metrics to help marketers and B2B firms grow:
Probably that's why focusing on historical data is crucial to figure out which goals make sense per the team bandwidth and budget. It makes yearly or monthly reporting easier when everyone from executives to salespeople is on the same page. Most B2B marketers might want to focus on top-of-the-funnel goals like brand awareness and building credibility. However, the efforts would be futile if they don't have appropriate metrics to measure them, like lead generation, nurturing, and revenue.
Website traffic is a critical metric for many marketers, and they also have a few different ways to look at it. There could be two ways to look at it:
Web traffic in its entirety is an excellent metric to measure your marketing efforts. However, it could be of no use if marketers don't know the sources from where it comes. Analyzing and monitoring the traffic share will highlight traffic and volume's exact origins. Today, many tools provide the facility of setting a filter to identify such traffic sources. Traek is one such marketing software that enables marketers to gather relevant data sources and amp their strategies.
In Traek, marketers can set the "Page" filter and select the page from the drop-down menu that they want to monitor. Further, they can set the time range per period to track their traffic. Similarly, the tags filter enables them to choose a specific tag for each visitor or user, as Warm, Hot, and Cold leads.
Sorting traffic sources is an essential channel metric that enables marketers to enhance their SEO efforts. The referral sources like social channels and other authoritative websites can be a fruitful tracking measure. Inbound links play a critical role in identifying the value provided by your content to the users. The "Source" filter next to "Page" in Traek allows you to select a specific source from where the referral came.
If marketers measure their efforts only by looking at the number of visitors they receive on the website, it won't provide necessary insights. More than that, it's essential to track them regularly, and it would eventually help them gauge the performance of marketing campaigns. Having visitors on your site is necessary to know if your content performs well. However, if your marketing doesn't reach any new audience, it might be time to take a second look.
Similarly, if your site doesn't have any returning visitors, that's also a bad sign. Users' engagement with your offerings should go well beyond just clicking – it needs to attract them back. Returning visitors is a vital sign to show that the performance of marketing efforts is bringing results and contributing to the bottom of the funnel.
In Traek, marketers can see the page views and visit duration of the users who land on their site. It can prove to be a critical measure in gauging user behavior. The page views enable marketers to keep track of the pages that attract maximum users. It means the content on those pages speaks to the user's pain points, and hence, their target audience.
The pages filter here can play a significant role in identifying what interests your users more. If a user, for example, is looking at the React Native development service page, it means they only want that service. Often, marketers would wish to upsell and cross-sell other related services to users. While it's a good strategy, it should also align with users' needs. Sometimes, visitors are only looking for a specific service, and your marketing should be able to serve them.
Lead generation is a multiway street with different ways to measure the number of leads your content brings. For B2B marketers, most of such content deals in software demos and product pricing that result in lead acquisition and nurturing leads. Lead generation can start from setting up conversion opportunities as goals. These opportunities could range from contact us forms, demo video requests, etc. Marketers can then use these opportunities to determine the number of conversions from a content piece or any other resource.
Visitors and users will only turn into customers if they are qualified. Website traffic and social followers don't guarantee a large ROI. The crux lies in determining if they are qualified as your target customer base. Translating those visits into sales depends on finding information regarding the portion of the audience interested in purchasing your offering. Qualified leads depend on:
The number of qualified leads is your foundation for the next step to achieve your marketing goals. New customers and more revenue is the ultimate goal of any B2B marketer, and the number of qualified leads converting into sales is your primary source to measure it. The entire focus of marketing shifts to the sources from where these qualified leads find you and land to your website to purchase your product. Paying attention to the digital marketing strategies that are working and resulting in sales leads would help drive your efforts in the right direction.
Traek has a multifold approach to help marketers generate valuable leads. It starts from identifying the exact service that a leader wants on the dashboard. Marketers can see a visual description of their efforts through the page views of a specific service. The next step is to extract that visitor's company information, contact details, and social profiles. Combining all these allow marketers to have an ample idea of approaching their leads.
The real-time chat is the USP of Traek that helps track current visitors and contact them instantly. Instant conversation with a prospective lead ensures assigning a suitable sales team member to the lead right away before it gets cold.
A marketing team can look at several metrics to measure their recent marketing campaigns, a landing page with demo videos, a blog post, or a product pricing page. However, it would only make sense when there are goals to measure that performance. Traek helps B2B firms in leveraging their content marketing strategies and tactics. Companies can utilize its automated features to connect with their audience through storytelling and further build brand awareness.
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