The world of marketing in 2020 had become more complex than ever. Apart from working from home, we all have experienced constant industry transformations, an increasing need for privacy regulations, and new emerging strategies. B2B marketers have a lot on their plate right now. The spotlight is on some of the most important marketing metrics that can help marketers stay on their path in 2021.
Engagement and Conversions Rate
It is vital to measure what takes place once the marketer’s target audience engages with them. It sounds simple to measure the conversions as a critical metric, with tools such as HubSpot, Marketo, or several alternatives; marketers can quickly analyze form submissions, views, conversion rate, etc. However, even with this data, it’s not always easy to get the marketer’s target audience to take the action they would like. As per the new research from the Content Marketing Institute (CMI), content marketing is serving 79% of marketers to educate their audiences, whereas 75% are effectively using it to build credibility and trust. Nevertheless, very few marketers are trying to get the most from content marketing for actions more in-depth in the funnel.
Additionally, B2B marketers are effectively utilizing content marketing to attain top-of-the-funnel objectives, with 86% proving that they have utilized it to attain their brand awareness objectives in the past year. Simultaneously, less than half of the marketers, around 45%, have used it to build a subscribed audience. It is where their marketing tech stack plays a vital role in taking action off data marketers collect. Through tools such as attribution reporting within their platforms, marketers can actively measure which content key members of their audience interacted within various models.
The most critical and most challenging marketing task is generating leads. The marketing’s main aim is to find or generate leads – potentially interested people in your product can be converted into remunerating customers. The first thing to do is to track leads. It’s essential to detect the total number of leads produced each month and leads produced with marketing channels (social advertising, social media marketing, content marketing, search advertising, email marketing, etc.).
Instead of tracking leads using Excel, a dedicated Customer Relationship Management tool, such as HubSpot or Salesforce, makes it easier to automate the process. They have specific features to assist marketers in keeping tabs on searching for new opportunities and performance.
Customer Lifetime Value (CLV) Impact
Historically, marketers have observed the CLV; for instance, “what is considered customer’s lifetime value?” Looking forward, as CLV is related to the content, campaigns, and quarterly sales, it is supposed to be measured by marketers further closely. Marketers’ main focus is how sales are impacted by their marketing via the funnel and through channels to tie that directly to their business’s extremity. This is known as attribution analytics, as it analyzes the impact of customer experiences and campaigns on customer lifetime value. Full attributions to date have been dedicated to top-of-funnel advertising, trying to solve the problem of ad-spend-caused conversion. Instead, focus on pieces of content or experience contributed. Marketers are required to apply an identity strategy. This mentality is holistic to boost higher percentages of users into logged-in experiences, which is vital with the death of third-party cookies. They are also supposed to implement a closed-loop feedback system that boosts constant optimization.
Content Marketing ROI
Eventually, everything marketers are doing should always be looking to track return on investment (ROI). It’s easier said than executed; however, setting aims for what you’re looking to achieve and how you mean to track it from the start of your campaigns can significantly help with time to judge success. Tracking pipeline growth and revenue stemming from leads produced from your content campaigns is a tremendously powerful metric to showcase marketing success. Improving upon it shall only become easier by taking steps to understand and track how your audience is searching you, content engagement, progressing via their individual buyer’s journeys, and then communicating it to your team.
Authority & Search Engine Optimization Performance
In the digital age, search engine optimization (SEO) has become more critical than ever; if used right, it can help people find you and your content and help search engines identify you as a trusted source of the topic. Previously the “PageRank” information by Google was shared publicly, but this stopped many years ago. Due to this, new tools such as Moz or SEMRush were developed and are rising in popularity. These tools aim to help marketers attain better SEO results by determining authority (in theory, similar to how Google does) among additional web metrics. But what exactly is authority, and how do you measure it? Authority is observing how valuable a definite domain is ranking on search engine result pages (SERPs). Authority calculations usually look at the number of referring domains, backlinks, organic search traffic, and other data. Tracking these shows marketers how potential is the keyword opportunities, how well the content is resonating, and additional areas marketers could look to enhance.
The effectiveness and profitability of the content marketing efforts are determined by measuring ROI. Though high web traffic is generated by the marketing campaigns, it does not mean making revenue. Marketers must look beyond the traffic and assess metrics like quality of leads, on-page engagements, and sales to know whether the campaigns are effective.
There are many other metrics marketers can look at. The metrics discussed above are most significant when marketers want to identify how well their campaigns are making revenue for their company.