B2B marketing tends to be more complex and challenging than B2C marketing, especially because of the lead qualification process. In B2B, marketers often find that a prospect needs a variety of information, delivered at various stages, to make the ultimate decision to purchase a product or service.
This makes measuring the right things particularly difficult, as a recent report from Forrester Research confirms. In "Metrics That Matter for B2B Marketers," vice president and principal analyst analyst Laura Ramos writes, "More than half (61%) of the marketers we surveyed admitted that most of their data work went into reporting on how they did, not showing how marketing drives better business results." According to the report, B2B marketers tend to:
- Measure only what's easy
- Focus too narrowly on funnel metrics
- Track quantity over quality
- Fail to measure factors that lead to improved performance.
Instead, says the report, marketers need to "measure performance at key points throughout the customer journey." Specifically, the factors that drive performance that should be measured are: volume, velocity, value, effectiveness, and efficiency.
Learn more about this Forrester Research report here.
And consider ordering a copy of B2B Marketing 123. This eGuide presents a 3-step approach for marketing to businesses that is grounded in timeless principles but recognizes and takes advantage of the brand new marketing world we live in. Purchase B2B Marketing 123 today for just $2.99 at the Amazon Kindle store or in any eBook format, including PDF, at Smashwords.com. This title is also available wherever eBooks are sold.
Comments