Within the B2B landscape, numbers dominate. With this in mind, many online marketing strategists are burning their eyebrows to tame market data in their favor.
The effort could be difficult. Perhaps, it is difficult. Accuracy in interpreting the numbers remains an issue among B2B companies. This is because graphs, pie charts and tables offer general pictures of market trends. There is simply no accurate way to meet individual needs.
Nonetheless, online marketing strategists and industry players are taking great care in using market analytics tools to meet lead generation goals. These tools are essential in determining whether a campaign works by examining ROI influx.
But the discipline of market analytics is not as simple as pie. Most marketers tend to think that as long as conversions provide a steady revenue stream, we’re all good. But such numbers in fact don’t correspond with what’s happening out there.
Revenue isn’t the only variable here. Other metrics deserve attention.
For B2B marketers who are willing to grab hold of success, the list below will help. The following market metrics form a good starting point to gauge campaign impact on buyer attitudes, lead nurturing and revenue generation.
The frequency that your company is mentioned by users is an important factor that says a lot about brand exposure. With the hashtag function, it is important that marketers measure the rate by which their brand appears in different social media platforms.
How big is your industry? How many are your competitors? Answering these questions will provide important insights about your reach. Audience size gives you a clear view of the amount of prospects you could potentially tap.
Multi-channel marketing is all the hype in the B2B marketing world. And it will continue to be as long as social media platforms are in a constant state of development. Market reach is an important part of B2B survival, especially in online marketing. And it is equally important to gauge it in terms of customer engagement.
Finally, knowing that you are actively engaging prospects demonstrates the effectiveness of your campaign. Record data on the frequency of customer dialogue and responses because these could translate to qualified sales leads.
In essence, market analytics is a mind-boggling aspect of the online marketing world. Nonetheless, marketers should find the time to look into the numbers and make a good sense out of them.