5 key B2B campaign metrics to measure and improve
The difference between fluke and skill is the ability to pull something off again and again. That’s why a successful marketing campaign in isolation may be great, but it’s not half as valuable in the long run as learning what about it succeeded and why.
Knowing what truly underpins campaign performance allows you to refine and repeat. This understanding comes from tracking and measuring all the elements of a campaign. With the correct tracking, even underperforming campaigns represent opportunities.
But what really matters when it comes to tracking? Which stats are window dressing, and which cut to the heart of performance? Save yourself the Google with these five key metrics to focus on:
1. Lead-to-Close Conversion Rate (CVR)
Gathering all the leads in the world is irrelevant if they never convert into customers. However, by consistently tracking what percentage of leads do convert, CVR allows you to compare like-for-like on previous sales cycles, helping you identify the quality of the leads a campaign generates. This is ultimately more useful than simply counting the number of raw leads, as this can be influenced by many factors.
2. Return on Ad Spend (ROAS)
The lesser-known sibling of ROI, ROAS is a narrower metric that focuses in on the revenue a campaign generates in relation to its spend. It’s important to isolate this from ROI, because while ROI is very important, ROAS directly reveals the cost effectiveness of a campaign. It’s possible to generate a positive ROAS in a situation where a campaign results in a negative ROI when there are other costs incurred.
3. Marketing influenced customers
It’s a sad fact that not all efforts are rewarded. Poor timing or other outside factors can sometimes dictate that leads don’t turn into sales for a particular campaign. But by building customer touchpoints and tracking who interacts with your content, you can retroactively measure the influence of past campaigns by identifying converted leads that previously interacted with your output.
4. Web traffic
Sometimes, you want highly specific metrics. Other times, even the most basic offer insight. When driving to a particular page, for example with ABM, or you’re deploying SEO, overall numbers matter. Raw traffic data lets you know that your ads or SEO are resulting in generic interest, even it can’t discriminate whether they are the right kind of visitors.
5. Email list growth
Many B2B marketers still place email at the top of their effectiveness charts. And alongside your open and click-through rates of individual emails, you should be assessing the health of your email channels by seeing whether new subscriber numbers outpace attrition.
Of course, these are only the tip of the statistical iceberg. If you want to work with an agency who understands how to power your marketing with hard data, get in touch with our team today.
Featured image by Luke Chesser on Unsplash.