Much of the challenge in B2B lead generation is anchored on tracking key metrics. But what’s the significance of such an activity?
Initially, metrics are utilized in order to measure certain losses and gains with regards your marketing campaign. They are crucial in determining whether your capital inputs have been maximized in that they are producing the results you want.
For every business that wants to expand, they are vital in identifying company strengths and weaknesses. Through lead generation metrics, you can streamline and adjust your marketing processes based on certain market conditions. In addition, marketing metrics ensures transparency, letting you know that every cent and drop of sweat you put in your lead generation and appointment setting efforts is worthwhile.
Now, the difficult part about marketing metrics is that it involves a lot of mathematical applications. It is not qualitative in the sense that you can immediately come up with assumptions. It requires a great deal of collating and calculating data about your respective industry and your target decision-makers.
More importantly, it involves knowing what metrics to track and how to interpret these to gain a more accurate view of your campaign’s progress.
But where should one begin?
Campaign expenditures. Before implementing your strategies, you will need to define short-term and long-term objectives. On top of that, you will need to determine projected expenditures in realizing these objectives. Defining your budget makes it easy for you to compare actual and expected gains. Moreover, it aids you in choosing the most profitable tactics to employ.
Cost per lead. In online advertising, CPL can be a viable option for acquiring high-quality B2B leads that can convert. But marketers who went down this road will tell you it is not easy maintaining such a campaign. CPL is costly, rendering it difficult for businesses to purchase B2B leads in bulk. Understanding how much CPL would cost you, on the other hand, can help maximize your budget for internet marketing.
Determine first-touch and multi-touch attribution. For a more efficient experience in B2B lead generation, it is vital to take into account audience interactions. Tracking these variables enables a good view of your ROI influx and identifies which campaign content are effective in adding value to prospects. Aside from that, you will know whether your campaign runs like a well-oiled machine.
With these three important metrics in mind, you will be able to give your campaign a clear direction towards the vision you set for it. But if you opt for better results, try a B2B outsourcing company that has proven capabilities in marketing analytics and campaign application.