Key B2B Marketing Metrics & KPIs for Growth

Success comes to those who calculate their moves and make informed decisions. Similarly, B2B marketing success depends on measuring the metrics and KPIs. If you are not doing it already, no worries. It’s the perfect time to start. 2023 is ending and let’s enter the new year with new goals and fresh perspectives. Start by defining your marketing goals for the year. To be a better data-driven marketer, you have to track your B2B marketing metrics and KPIs to measure your campaign success.

But wait, which metric should I track? Marketing is a big stream from content marketing to lead generation it’s a vast discipline.

It’s important to be precise about what metrics to track. That’s what we are going to discuss in this article. Let’s see the key B2B marketing metrics and KPIs for business growth that drive more revenue.

What is this Metrics?

First, let’s get into the basics. B2B marketers rely on B2B marketing metrics to continuously monitor, record, and evaluate performance. These figures are dynamic and require close monitoring throughout the campaign to accurately assess its success and determine if any adjustments are necessary.

Difference between KPIs and Metrics

In B2B marketing, metrics and key performance indicators only have a subtle distinction;

Marketing campaign metrics track the progress of specific goals, offering an overview of a campaign's overall health. Whereas KPIs aid in goal setting and decision-making for the future.

Therefore, both serve as great performance measures in B2B marketing.

Key Marketing Metrics and KPIs

Marketing Qualified Leads

MQLs are leads who show interest in a B2B company's product or service through targeted marketing, they are often the company’s ICP and smoothly enter the sales pipeline. Qualifying these leads before transitioning to the outbound sales team is vital to maintaining the sales funnel's quality. Additionally, calculating the Cost per Marketing Qualified Lead (MQL) using the formula

is essential for optimizing future B2B marketing campaigns. This metric helps refine campaign strategies to ensure success. Integrate with a custom marketing database to run effective campaigns.

Website Traffic

It’s a great metric to measure whether your SEO lead generation efforts and campaigns are working. There are many tools to track web traffic and the most common one is Google Analytics. You also have to track the lead source whether they visited the website from an ad, social media or organically.

Closed - Won Deals

It refers to the contract that the leads sign while becoming a customer. Closed–won deals are essential to measure marketing ROI. This stands as a notable metric for assessing the success of your Account-Based Marketing (ABM) strategies.

Sales Qualified Opportunities

Effectively tracking prospects identified by the sales team as possible customers is the next metric to determine your B2B marketing success. It not only indicates potential revenue but also provides valuable insights into overall campaign performance. To find the marketing campaign’s effect, focus on the Cost per Sales Qualified Opportunity (SQO), calculated by dividing Cost Per Lead (CPL) by the marketing spend for the total new opportunities. First of all, get high-quality sales and marketing contact data to reach out to your ideal customers.

Average Sales Cycle

Another vital marketing metric is the average time it takes for your team to convert a potential customer. This metric helps assess the duration of each campaign's conversion process and enables optimization for a more efficient SaaS sales cycle. Calculate the average sales cycle by dividing the total number of days from the first touch to closing by the total number of deals won.

Use this Template to Measure your Metrics

The high number of metrics can be exhausting, that’s why we made this simple template to help you measure the right metrics and KPIs to succeed in your marketing efforts.

Oh, We Almost Forgot!

If you made it to this level, congratulations, you’re about to learn the valuable insight of B2B marketing success. It is you have to be a data-driven marketer to take advantage of the marketing tech and see the desired results in your metrics and KPIs.

One such key component to being a data-driven marketer is investing in quality B2B data. What better tool than InFynd for high-quality B2B data? It’s the go-to tool for every marketer and sales rep. It can help you:

• Build your ICP detailed with business emails, mobile numbers, and social handles.
• Compare your existing marketing contacts database refine and enrich outdated data with updated.
• Reach out to your dream customers even if they never engaged with your website or marketing campaigns.

Now, it’s time to get your game revenue focused for 2024. Remember the metrics and KPIs to always keep your success on the tab and join with quality data providers to be a great data-driven marketer.