B2B Marketing Metrics: Measure and Improve [2024]

Introduction

As a business-to-business (B2B) marketer, you know that tracking and measuring your marketing efforts is essential to success. Without metrics, it’s difficult to determine whether or not your campaigns are effective and generating the desired results. Here are five important B2B marketing metrics and how to track them.

1.  Lead-to-Close Conversion Rate

The lead-to-close conversion rate is the percentage of leads that result in closed deals. This metric can be used to measure the effectiveness of your marketing efforts in terms of generating qualified leads. To track this metric, you’ll need to capture information about both leads and closed deals. You can use a spreadsheet or capture this on a spreadsheet or use template sales report excel.

To improve your lead-to-close conversion rate, you’ll need to focus on creating quality leads and then closing those leads into customers. You can do this by improving your lead capture process, qualifying leads more effectively, and providing better sales support.

2.  Cost Per Lead

The cost per lead is the average amount of money spent to acquire a new customer. It can be used to measure the efficiency of your marketing efforts in terms of generating leads at a reasonable price point.

You’ll need to capture information about both leads and costs associated with acquiring those leads such as advertising, marketing campaigns. In order to have a low cost per lead, you need to focus on generating better quality leads at a lower price point. This may require reevaluating existing lead generation techniques and testing new methods that are more efficient for acquiring leads.

3.  Customer Lifetime Value

The customer lifetime value is the average amount of money a customer spends with your company. You can use this to measure the long-term profitability of your marketing efforts in terms of acquiring customers. You’ll need to analyze information on both current and past customers. You can use a spreadsheet or CRM software to track this data.

The key to improving your customer lifetime value is providing exceptional service and support throughout the customer lifecycle. You can do this by identifying pain points, developing new products or services that address those pain points and increasing product cross-sell opportunities such as upselling.

You’ll also want to focus on retaining customers after they’ve purchased from you. This may involve providing incentives for repeat purchases, offering discounts to encourage referrals, or creating loyalty programs that reward customers with points/freebies when they buy certain products. Consider bundling products together at a discounted price so customers are more likely to purchase multiple items rather than one item alone.

4.  Marketing Qualified Leads (MQLs)

Marketing qualified leads (MQLs) are people who have shown interest in your company but haven’t yet converted into customers. This metric can be used to measure the effectiveness of marketing campaigns in terms of generating leads that could potentially become future customers.

5.  Sales Qualified Leads (SQLs)

Sales qualified leads (SQLs) are people who have been identified by sales as being interested in your company and potentially ready to buy. This metric can be used to measure the effectiveness of sales efforts in terms of generating leads that could potentially become future customers.

To improve these five B2B marketing metrics, you’ll need to focus on generating high quality leads that are more likely to convert into customers. You can also improve your lead-to-close conversion rate by qualifying leads more effectively, providing better sales support, and working with an expert B2B marketing agency.