Having a B2B company means that you need to look at your marketing strategies a bit differently. With a target audience that doesn’t consist of simple consumers, you will need to stand out to give other businesses what you have. Is your company looking for the right performance metrics on which it can base its performance? Here is a look.
The motive is not only to draw consumers to your site, the motive is to make them stick. There is not much associated utility if your page is visited once but never explored or returned to. There are a few key statistics you must pay attention to find out if your engagement is strong or needs a strong push. The first is the number of unique visitors on your site. In a given time period (a day? a week? a month?) how many unique prospects or consumers visit your site? The next thing to look to is the number of page views. This again will reflect the same time period as selected before. Average visit duration is the next important number. As the name suggests it means the average time a prospect spent on your website on one visit. This number is arrived at by diving the total duration of all the visits combined divided by the number of visitors in that time period. The next number is return visits. As is evident, it implies the number of visitors who come by again. Finally there is the bounce rate, which includes prospects who do come to your website, but leave after viewing one page, and do not explore around or come back.
Virality is something every site desires. It is the mecca of managing a website. But before that stage is reached it is very important to understand the people who use your website and what they come looking for there. There are three key things to be kept in mind in relation to virality – word of mouth, personal engagement and social networking shares. Word of mouth is something that gets you going faster than any marketing campaign can. When people hear about something from trusted peers, family, friends or colleagues, they are much more likely to trust it. Personal engagement involves making a personal connect from your customer to your product. If people feel an emotional connection towards a product, they are more inclined to use it. Finally do not make the mistake of ignoring the power of social networking shares. More often that not, this is a key element in virality what with the popularity of social networks at present times.
The goal is to drive leads into conversions. First, you need to know where the leads are coming from. They may come from social media, or advertising through email, or any other methods you might have employed. This can be done by tagging your entry points with analytics codes. Next, quality of these leads must be determined. Are they worth the money value that you expect? Finally you need to figure out how leads are interacting with purchase i.e. map out the buyer’s persona.
Three kinds of revenue must be looked for – one, the revenue that goes towards promoting the marketing of content; two, the percentage of revenue from content marketing in relation to non-content marketing efforts; and three, the percentage of revenue from content marketing as a part of the overall revenue.
5. Lifetime value
Lifetime value of a prospect or consumer implies the return or revenue you can expect from a consumer. Important thing to keep in mind is that this should be more than, or at least equal to, the customer acquisition cost in the way of marketing.