analytics for b2b marketers

This guest post was written by Ian Leadbetter, Co-founder & Director of Ruler Analytics, a multi-channel marketing attribution platform that closes the loop between leads and revenue.

Modern B2B marketers engage with prospects and customers on an average of six channels—and that number only includes digital channels. If you add in offline marketing initiatives, the number of channels that should be included in your tracking strategy likely hits double-digits, and you need to track each to understand what’s working—and what’s not.

If you’re only taking advantage of the default reports your analytics platform offers, you likely have gaps in your tracking strategy. This limits your ability to identify the campaigns and channels that deliver the highest ROI.

The following five marketing metrics are some of the most commonly overlooked. Find out what they are, and learn how to start tracking them.

1. Phone Calls

Unless you’re marketing to very small businesses, your selling model is probably more high-touch than self-service. Default analytics programs track visitor behaviors across digital properties, but the moment prospects leave the digital realm for sales calls, you lose track of how their journeys conclude.

For this reason, it’s very important that B2B marketers include call tracking in their analytics strategy. With the right analytics platform, you can track phone calls back to the marketing campaigns that generated them. This has two major benefits:

  1. It provides more accurate data on how many leads marketing is generating.
  2. It provides evidence on which campaigns are generating the most—and least—leads.

Call tracking can also be used to measure the number of leads generated through offline campaigns like commercials, billboards, and print advertisements.

2. Marketing-Generated Revenue

Knowing how many leads campaigns are generating is a good starting point for proving the value of marketing, but it’s not enough. Today’s executives expect marketing teams to report on exactly how much revenue their campaigns are generating.

To truly identify marketing ROI, you must have a way to connect sales and marketing data. Generating lots of leads doesn’t necessarily mean you’re generating lots of revenue. It’s possible that none of the leads convert. Proving that marketing is generating revenue requires hard numbers and undisputable data.

Default analytics reports generally don’t provide this information. B2B marketers need an analytics platform that offers marketing attribution. Marketing attribution tracks the customer journey across multiple visits to your site, showing the starting point of the relationship all of the way through to the conversion.

For self-servicing models, this data can be used to determine the exact number of visitors that converted online after initiating their journeys via marketing content or campaigns.

For high-touch models, marketing attribution systems send all marketing data to your CRM when the digital journey ends and sales conversations begin. This gives sales teams more insight into the each lead’s needs and pain points, and it allows you to feed sales conversions back to your analytics platform to track marketing-generated revenue.

3. Lead Source

Once you can attach leads and conversions to the marketing campaigns that generated them, you need to take it a step further to figure out which specific channels generate the leads that are most likely to convert.

When we did this at Ruler Analytics, we discovered that deals from partnerships were four times as likely to close as inbound leads, and eight times as likely to close as outbound leads.

If your marketing and sales data is connected, you can see which sources produce the highest ROI. This is valuable information because it allows B2B marketers to refocus your marketing strategy on the channels and initiatives that are most likely produce revenue.

4. Customer Journeys

As much as 90% of the buying journey is now self-guided, and 77% of B2B decision-makers won’t speak to a salesperson until they’ve completed their own research. This means that marketers must have a detailed understanding of the customer journey—from the moment prospects realize they have a problem to the moment they invest in a solution.

To find out how prospects move through your site before becoming customers, you need an analytics platform that provides customer journey mapping features. Customer journey mapping metrics have two major benefits:

First, they allow you to track what types of information prospects access at different stages of their journeys, which helps marketers identify common questions asked during each stage.

Second, they allow you to track where prospects commonly disengage. This allows marketers to identify gaps in content—places where there’s not enough information for prospects to complete their upfront research in order to move deeper into the purchasing funnel.

5. Product Analytics

Most products have multiple features. Knowing which of those features is most important to your target audience is important. The information helps you create targeted campaigns that speak to your prospect’s most pressing needs and biggest problems.

To find this information, B2B marketers need an analytics platform—such as Mixpanel, Heap, or Amplitude—that tracks what features website visitors and application users are most interested in. This allows you to focus campaigns on your most influential features, track interest in newly released features, and measure changing trends in interest over time.

The Benefits of Filling the Gaps in Your Tracking Strategy

If you’re not already tracking each of these five metrics, it’s crucial to add them to your tracking strategy.

Tracking these metrics creates a clearer picture of your campaign performance across all channels, provides a holistic view of the effectiveness of all marketing initiatives, and proves marketing’s impact on overall business revenue.

Leave a Reply

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