With so many B2B marketing strategies, you need to know which ones drive better results for your company. That’s where Key performance indicators (KPIs) come into play.
KPIs are quantifiable metrics that measure how your B2B company achieves its marketing goals. This data will help you make data-driven decisions and improve your results. But which B2B marketing KPIs should you be tracking?
What are B2B Marketing KPIs?
B2B marketing KPIs are quantifiable metrics used to measure the success of your company’s marketing efforts. Defining and measuring the right B2B marketing metrics enables you to measure progress, optimize your budget, identify weaknesses, and make data-driven decisions.
Why are B2B Marketing KPIs Important to Track?
B2B marketing KPIs provide data about how effectively a campaign reaches its goals and objectives, such as increasing brand awareness, generating leads, and driving sales. This data can also help marketers identify opportunities and challenges.
These KPIs for B2B marketing provide information that can be used to optimize your campaigns and maximize ROI.
Key B2B Marketing KPIs to Track
Ready to gain key insight into how your marketing campaigns are performing?
Here is a list of 18 B2B marketing metrics that matter.
1. Marketing Qualified Leads (MQLs)/Sales Qualified Leads (SQLs)
Lead qualification is an important B2B marketing metric. Marketing Qualified Leads is a simple B2B marketing metric to help you track how many leads have gone through the marketing funnel and are interested in your product or offer. SQL is a potential buyer who has shown interest in your product or service.
2. Sales Qualified Opportunities (SQOs)
This KPI looks at the number of potential sales opportunities your business has in the pipeline.
3. Web Traffic
This B2B marketing KPI helps marketers better understand the volume of web visitors your website receives. This metric helps marketers improve their content and SEO.
4. Conversions by Source
Conversions by source will tell you which sources provide high-quality leads. You may be getting a ton of traffic from social media, but email marketing may bring in more revenue. Knowing which sources are profitable will help you adjust your marketing strategy.
5. Bounce Rate
Bounce rate refers to the number of web visitors that automatically leave your site after landing on a web page. A high bounce rate may be a sign there are issues with the user experience or that the content on your website isn’t helping push web visitors through the sales funnel effectively.
6. Customer Acquisition Cost (CAC)
CAC looks at how much money you spend to acquire a company. If your acquisition cost is too high, it can impact the ROI of your marketing initiatives.
7. Customer Lifetime Value (CLV)
CLV is the lifetime value of a company. It looks at the average amount of revenue generated by a customer. Improving your CLV can improve retention and ensure your marketing team focuses on initiatives that encourage higher-value sales.
8. Cost per lead (CPL)
Cost per lead is the amount spent to obtain a single lead. Your CPL provides key insight into how much money it costs your business to gain a new lead.
9. Cost per click (CPC)
Cost per click is the amount spent for each click. This is a common KPI used to measure the effectiveness of your paid advertising strategy. The lower the CPC, the more your paid media team gets more likes for less money.
10. Lead Quality
This B2B marketing KPI looks at the quality of leads from your different marketing initiatives. Marketers can use this KPI to predict how likely leads in the marketing funnel will convert. The higher the quality of leads, the more likely you are to generate a profit.
11. Traffic-to-lead ratio
This KPI tracks the number of web visitors that are converted to leads. Keeping a pulse on this KPI helps businesses better understand the value of web visitors. It can also uncover user experience issues, like bad CTAs.
12. Lead-to-conversion ratio
Struggling to convert prospects into paying customers? Tracking the lead-to-conversion ratio will uncover issues in your sales and marketing funnels and help you improve your conversion rates over time.
13. Closed-won Opportunities
These are the contracts that the sales lead has signed. This is one of the best metrics for account-based marketing campaigns.
14. Email Open Rate
Email open rate is the percentage of emails opened out of the total number of emails sent. This KPI helps marketers better understand the effectiveness of their email marketing strategy. If you have a low open rate, you may want to consider revisiting your subject lines or sending times.
15. Email Clickthrough Rate
Email CTR helps marketers better understand how engaging their email marketing campaigns are. If you have a high CTR, your subscribers actively engage with the content and CTAs in your email. If your CTR is lower than the industry average, your content likely isn’t aligning with your customer’s interests.
16. Return on marketing investment (ROMI)
This metric looks at the return generated from specific marketing campaigns. Whether it’s paid media, SEO, social media, or email marketing. With ROMI, your team can better understand which initiatives generate the most revenue.
17. Return on Ad Spend (ROAS)
ROAS helps marketers better understand how much revenue is generated from paid ad initiatives. Tracking this KPI will help you adjust your initiatives to improve profitability.
18. Churn Rate
The churn rate calculates the number of customers that stop using your products and services. Businesses track this B2B marketing KPI to understand retention trends and product usability. It’s an important KPI for SaaS or subscription-centric businesses.
Choose the Right KPIs for Your Business
It’s hard to know which KPIs are the right B2B marketing metrics that matter. When exploring the different KPIs, always consider your company’s overall goals and how your marketing team can support your bottom line.
