It’s one thing to have a hundred likes on a random Facebook post, and quite another to get even a quarter of them to sign up for a product trial.
In the world of B2B content marketing, metrics can be a tough nut to crack.
Measuring the performance of your marketing campaigns is key to driving your business in the right direction. Regardless of the size of your marketing budget, you should quantify your outcome of all your efforts across all marketing channels periodically.
There are various metrics a content marketer can consider for performance valuation. However, not all metrics are equally important. Based on the specific business goals of your marketing campaign, you need to measure only those metrics that reflect the health of your business.
Understanding these metrics can be hard. So, let’s delve into some of the most important marketing metrics that are relevant to your business.
In plain English, Unique Visitors are the number of people that consumed content on your site. This is different from the number of sessions which can be higher than the number of unique visitors. For example, a single visitor can read a piece of content multiple times at different times of the day, meaning multiple sessions.
In order to accurately evaluate the reach and popularity of your content pieces, you should always focus on unique visitors.
Bounce Rate is one of the most important metrics content marketers look at to evaluate the usefulness of their content, accessibility of their content, and the overall design of their content.
When a visitor lands on the specific page of your website and then bounces off your website without exploring any further, they contribute negatively to your bounce rate.
In other words, if most of your visitors leave your website without moving beyond the entry page, you’re likely to see a higher bounce rate on your website.
B2B content marketers investing primarily on their blog can measure the popularity of their content based on the bounce rate metrics.
Please, a flat bounce rate metric can be misleading, therefore, you need to consider employing advanced techniques to measure the accurate bounce rate of your website.
In the age of social media, your marketing outreach is not limited to the number of your followers — it’s as good as the number of followers each of your followers has.
In that respect, you have a huge network if the majority of your followers consists of social media influencers.
According to Avinash Kaushik, one of the most popular online marketing thought leaders of our time, Amplification Rate is determined by calculating the number of people who share a piece of content by the number of posts submitted on a specific channel.
For example, if you have published 10 blog posts on Twitter in a specific month, and they were shared 200 times, the Amplification Rate is 20.
Your Amplification Rate indicates the popularity of your content on a specific channel which can be compared with the metrics from other channels.
For many SaaS companies, all that matters is conversion — the number of people that actually took the desired action on the landing page. Whether it’s the subscribing to newsletters or free trials, the conversion rate is the most tangible proof of your content marketing success.
You can determine the conversion rate in a pretty straightforward manner. Simply divide the number of people acted upon the Call-to-Action (CTA) divided by the number of visitors who arrived at the landing page. While 50% is considered to be a reasonable conversion rate, anything less than 30-50% means you need to start working on the loopholes of your landing page.
There are many tools to measure your conversion rate. However, Google Tag Manager is a free and decent tool to start off with.
Marketing Qualified Leads (MQL)
Content marketing is a major tool to nurture your leads until they convert into paying customers. However, leads can be classified based on their possibility to convert well. There’s no point in following up or investing in nurturing leads that are highly unlikely to convert and become your customers.
This is why many B2B enterprises focus only on Marketing Qualified Leads (MQL) which is a vital metric to measure the efficacy of your marketing campaign.
A Marketing Qualified Lead is different from a standard lead in that it has expressed interests in your products by engaging with your content actively. If you nurture the MQL well, it pays off in the long run. Moreover, an MQL readily shares their identification, indicating their interest in your products and services.
Customer Acquisition Cost (CAC)
Some companies prefer Customer Acquisition Cost (CAC) as an ideal metric to measure their marketing performances. Customer Acquisition Cost is essentially adding all your expenses including salaries and overheads in order to determine the cost of a new customer.
For example, if you spend $20,000 in a specific month and add 20 customers, your Customer Acquisition Cost is $1000.
The most challenging aspects of running a content marketing campaign are knowing how to track your performance from time to time. Establishing the right marketing metric for your campaign is imperative as tracking the wrong metrics can lead to misunderstanding your performance. Similarly, focusing too much on vanity metrics can also result in overestimating your performance.
Just keep it simple. Set a clear goal for your marketing and pick a metric that is most suitable for your campaign.
About the Author
Susanta Sahoo is founder and chief content marketing strategist at Top League Technologies, a digital marketing start-up in Bhubaneswar, India. By offering SEO consulting services, he helps SMB’s build their online presence and boost ROI. Follow him on Twitter: @ugosus.