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22 B2B Marketing KPIs That Every Marketer Must Have

Do you know which marketing activities contribute to the success of your organization? Can you prove which campaigns or advertisements increase sales? No? Or not entirely? You're not the only one.

Many marketers struggle with gaining insight into their return-on-investment. The solution naturally starts with measurement. Measuring is the way to improve. But what do you measure? In this blog we collected 22 important B2B marketing Key Performance Indicators (KPIs) that every B2B marketing department should keep an eye on.

We herein distinguish pri mayor and secondary KPIs. Primary B2B marketing KPIs are the figures on which a marketing department or an external agency are really assessed. They provide an immediate answer to the question: how does marketing contribute to the growth of the organization and with what return?

Secondary KPIs are more relevant within a marketing team. They often explain the outcome of primary KPIs and show what you can improve. Too few leads (primary KPI), for example, may be due to the number of website visitors or the conversion percentage (secondary KPIs).

PRIMARY B2B MARKETING KPIS

Primary B2B marketing KPIs link the marketing efforts to the most important output: new leads generated, customers and sales, in relation to the costs.

REVENUE

Companies run on turnover. If not enough comes in, it will stop sooner or later. A marketing department must therefore be aware of the revenue development, preferably in relation to their marketing efforts.

NUMBER OF LEADS

The 'raw' number of conversions on a site (regardless of who). This is the basis. If this number is too low, then something goes wrong with range or conversion. But it doesn't say enough.

NUMBER OF QUALIFIED LEADS

The total number of leads (for example, contact requests) is actually irrelevant. What really matters is the number of qualified, good leads that come in. These are requests from people and companies who really want and can buy - because they have enough budget or because they operate in the right sector. We distinguish two levels within this:

MARKETING QUALIFIED LEADS (MQLS)

Leads that aren't yet ready to buy, but are worth the effort of further follow-up for marketing (for example, invite for an event). Meet criteria such as company size, industry or locations.

SALES QUALIFIED LEADS (SQLS)

Leads that, apart from the criteria for MQL, are ready for concrete follow-up by a sales team. For example because they request a quote or demo, have viewed more than so many case studies or visited a webinar several times. This definition differs per company and is established in consultation between sales and marketing.

RELATIONSHIPS BETWEEN LEADS, MQL AND SQL

In addition to the absolute numbers, the percentage ratio between different leads is also important. Do you attract a lot of leads, but are they rarely MQLs? Then you probably reach the wrong target group. Are MQLs hardly suitable for further follow-up for sales? Then invest in marketing after the first conversion.

Can you not (yet) report on the net number of qualified leads that come from a campaign? Then the lead / MQL ratio provides a first guide for setting targets (' how many leads do I have to obtain if an average 40% is an MQL? ').

NUMBER OR PERCENTAGE OF QUALIFIED LEADS PER CHANNEL AND ADVERTISEMENT

This indicates which channel and which ads deliver (good) leads. Compared to the investments per channel, this provides insight into which channel pays the best. Note: sometimes channels don't directly deliver a lead, but they do contribute to a conversion. Perhaps a lead has first organically searched for your service five times, in order to actually convert through a banner campaign. Here comes the fascinating, yet challenging, world of conversion attribution.

COST PER QUALIFIED LEAD, PER CHANNEL

This is the most important indicator of success for many B2B organizations: how much money have I spent on marketing, and how many qualified leads has this yielded? All other cost KPIs (such as cost per mille, click or conversion ) are actually employed by this key figure. An average amount, measured over all channels, is the basis. If something goes wrong here, dive into the costs per channel.

COST PER NEW CUSTOMER

How a sales team makes sure that leads become customers is difficult to influence as a marketer. But it's good to have insight into the total costs of these sales efforts and the number of customers that this generates. Combine this with the total marketing costs and you know the costs per new customer. Important, because if these are higher than the Customer Lifetime Value you'll never be profitable.

CUSTOMER LIFETIME VALUE

The Customer Lifetime Value is the average total revenue per customer, measured over the entire period that they are customers. An important KPI for marketing, because it determines how much a new customer is 'really' worth, and therefore how much you can invest to attract it.

SECONDARY B2B MARKETING KPIS

Within the secondary B2B marketing KPIs, every discipline or digital channel has its own numbers. Depending on who you ask, this list is longer, shorter or different. This differs per organization. Some well-known examples at a glance:

WEBSITE

View the below details:

NUMBER OF SESSIONS

The number of visits to a website. A good indication of overall popularity and brand awareness, plus how it develops.

NUMBER OF USERS

The number of users starting a session. In combination with the number of sessions, this answers the question: do I attract many one-off visitors, or do visitors come back for more? Combined with the conversion percentage to (qualified) leads, you can also calculate how many (extra) visitors are needed to achieve objectives.

% CONVERSION OF WEBSITE VISITS TO LEAD, MQL OR SQL

This is an important secondary B2B marketing KPI that indicates whether website visitors are successfully tempted to leave their data somewhere. If this percentage is low or decreasing, you attract wrong traffic to your website, your website isn't convincing enough or not clear enough. What a 'good' ratio differs per strong sector. The average is usually between 2% and 5% (visit to lead).

DURATION OF SESSION / NUMBER OF PAGES VIEWED / BOUNCE RATE

Whichever KPI you choose as the most important: keep in mind whether your website visitors really look around on your website, and don't click away quickly. If conversion is lagging behind, then this KPI will probably score poorly.

SOCIAL MEDIA

Metrics for organic social media deployment often have the image of 'vain' figures. Likes, shares and followers are fun, but what do they ultimately deliver? We don't entirely agree with this. We see organic social media channels and campaigns as one of the many puzzle pieces for online success. These KPIs not only provide good quality feedback about your campaigns, but they are also a good indicator of your authority in the market.

ENGAGEMENT RATIO

The engagement on your organic posts, such as likes, reactions, shares and clicks are a good indicator of whether content works. If a post can count on a lot of engagement, then this is a good reason to use it for paid campaigns. See social as a testing ground in which you can test all kinds of content before you launch a campaign.

NUMBER OF FANS AND FOLLOWERS

The number of people who follow a page on, for example, LinkedIn isn't in itself a guarantee of success. But do you see steady growth after a start with content marketing, or many new followers from a certain industry you advertise on? Then this is a clear signal that you not only know how to reach people, but you also know how to handle them. Increasing the number of fans is never a goal in itself, but it can radiate authority. Pay close attention to the source of the fans, their geographical origin and trends in likes / unlikes. This indicates where your new fans come from, what stimulates them but also why existing fans unfollow .

REACH BY MAIL

Social media channels work with an algorithm that determines which posts a user gets to see. When you post an organic post, for example, LinkedIn will first show the message to a small group of people. If there is a lot of commitment to the message, this is a signal for the algorithm to show the message to more people. This way it can continue to expand. Due to the large number of posts and advertisements in the news feed, it's becoming increasingly difficult to generate much organic reach. Be sure to keep this as KPI by post and use social media advertising if you want to increase the reach exponentially.

E-MAIL

Within email marketing, dozens of KPIs are conceivable that are relevant to B2B marketing. Two popular examples:

CLICK TROUGH RATE AS A PERCENTAGE OF THE TOTAL MAILING LIST

The percentage of people who click on a call to action in an email. A good indication that an e-mail has also been sent, opened, read and received enthusiastically.

DATABASE GROWTH

If you do it right, your e-mail database will continue to grow with new subscriptions for your newsletter, for example. However, 'unsubscribers' can't be prevented. So always keep a close eye on how your database view develops.

SEO

The difference between an upper or lower position in search results can make the difference between lightning fast growth or a failed quarter. Although high indexing is in many cases 'for sale', organic scoring is the ultimate goal for many marketers. For this indexing, search engines pay attention to many factors such as speed, safety, technology and content.

INCOMING LINKS

Apart from the factors mentioned above, the number of websites that link to a website is still an important factor for a position in search engines. So check periodically how this number develops and how the quality of the pages that link to your website is.

POSITION ON KEY TERMS

Whether you do it manually or automatically: keep a regular record of where your pages are indexed for the most important search terms that your target group uses. If you suddenly dive down, or a competitor shoots up, you'll sooner or later notice this by the number of incoming leads.

REMAINING

View the deials below:

NET PROMOTER SCORE

Customer satisfaction is one of the most important predictors of sales, growth, retention and employee satisfaction. A popular way to measure this is the Net Promoter Score. This is the percentage of customers that your brand would actively recommend to others (rating 9 or 10 on a scale of 10), minus the percentage of people that would definitely not do this (1 to 6 on a scale of 10). A 'good NPS' differs per sector, but in any case aim for a score above 0. The NPS is typically a 'shared' KPI that's influenced by the entire organization.

RESPONSE TIME

Another 'shared' KPI of a good commercial organization is the response time to leads. If a sales team expects an X number of leads from marketing, the marketer can expect the sales to follow them well and quickly. For 40% of the decision makers, slow response is the biggest annoyance with a business purchase (McKinsey, 2016). In short, the quality of leads is tenable.

The motto is therefore simple: the faster a (good) lead is followed, the greater the chance of success. Yet only 45% of companies succeed in following up leads within 5 days (Drift, 2018).

CONCLUSION

There are literally hundreds of B2B marketing KPIs that, in the hands of a good marketer, provide insight into the success of marketing activities.

Don't let this put you off. In many cases, it's sufficient to limit to a select number of primary B2B marketing KPIs that really state how an organization and marketing team are doing. The basis is the number of good leads, the channel through which they come in and the (average) costs that you have paid for this. When the conversion of these leads to a final sale is in order, there is little reason for dashboards with dozens of graphs.

If the results are disappointing or if you need further optimization, then it's time to delve deeper into the data and focus on underlying KPIs around range and conversion. In all cases, don't be tempted to stare blindly at so-called vanity metrics; Many website visitors or likes aren't in themselves a guarantee of success.

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