Key performance indicators (KPIs).
The three words can make anyone sweat, whether fresh graduates or seasoned marketing VPs.
Why? KPIs affect promotions, compensation, and other things directly affecting our work lives.
But wait, hold up.
KPIs also help guide you on how best to serve your clients and what to do next. Well-chosen KPIs make you feel more in control and minimize stress. You know exactly what results you’re aiming for and how to get there.
This guide will help you select the right KPIs for your B2B marketing dashboards, why they’re important, and how to use the data to drive client results (and make yourself the most valuable partner for your clients, ever).
Business-to-business (B2B) marketing involves any company that sells to other businesses. From operational staff to senior management teams who approve budgets, you sell to people who determine or influence business purchasing decisions.
To illustrate, here’s a report showing a B2B company’s SEO and PPC performance.
Using traffic metrics as a B2B KPI works best in two contexts within your marketing funnel.
Track the bounce rate to see if your audience engages with your site’s content.
Like traffic metrics, bounce rate KPIs depend on the type of page you’re tracking and the industry you’re analyzing. Data from SimilarWeb shows average B2B web pages bounce rates hover around 41%. But these averages may or may not work for you, depending on the context.
How do you know if you have a healthy bounce rate? Ask these 2 questions.
To give bounce rate metrics more context, look at these metrics
Ah, conversions, the sweet sound of people converting on your site, like signing up for a newsletter or requesting a free trial.
Besides looking at overall conversion rates, monitor a few conversion ratios to ensure you’re turning the right potential customers into paid ones.
Besides monitoring operational metrics for your paid marketing campaigns like click-through rates (CTR), be sure to analyze your campaigns through another perspective - what’s the number of new customers brought in, and how much does each lead cost?
This brings us to the cost-per-lead metric - how much you spent in your paid advertising platform like Google Ads or TikTok Ads for a new lead. Monitoring this metric helps determine the return on investment for paid advertising campaigns.
While we marketers get that sweet dopamine hit seeing that ping of a “New contact form submission” notification, here’s a sobering thought: leads alone don’t bring in revenue for your business; customers do.
So while you might want to look at cost-per-lead to optimize channel efficiency, monitor customer acquisition cost to maintain a broader view of your sales cycle.
This metric covers the following:
Another critical metric for the long-term sustainability of your business, tracking customer lifetime value helps you answer these critical business questions:
CLV formula: (Customer Value) X (Average Customer Lifespan)
See it in action - How to calculate CLV for 3 business models:
MRR is the predictable total revenue generated by your business from all the month’s active subscriptions.
Besides expenses, MRR gives you visibility on business cash flow and its financial health - hence it’s an essential metric if you’re presenting to anyone responsible for making marketing budget decisions. MRR helps to:
How likely would you recommend our company or product to a friend or colleague?
Loyal customers stay longer and spend more with your company, and answering this question to calculate NPS helps companies understand how their customers perceive them.
Customers usually fall into 3 groups, depending on their NPS scores:
OK cool, but how do I use NPS data? Here’s 3 examples.
Churn rate refers to the total number of customers you lose each year. It’s an essential metric to keep as low as possible. Higher churn rates can mean your customers aren’t satisfied enough with your services to renew with you.
Calculation: (Lost Customers ÷ Total Customers at the Start of Time Period) x 100.
To calculate churn rate, you’ll need:
But what can you do to improve your churn rate? Some suggestions.
Tracking your B2B KPIs doesn’t need to be tiresome or time-consuming. Here’s how automated reporting tools like DashThis can help you turn your marketing data into actionable data points in minutes, with no Excel spreadsheet or complicated setup needed.
Step 2: Select your dashboard template or create one from scratch
Part of DashThis’s library of dashboard templates
Step 3: Connect your marketing tools and import data to DashThis. Take advantage of our 30+ integrations with top-rated B2B marketing tools like Google Analytics 4, Ahrefs and more and showcase all your data in one report. We’ve also got a CSV file import to add your own custom data, including tools without an official DashThis integration.
Step 4: Select the metrics to include from our Preset Widgets to drag and drop as you desire.
Once you’ve created your report, share it with your stakeholders through a sharable URL, or automate a regular email dispatch to speed up decision-making.
Having trouble getting started? Try our preset templates to simplify your reporting.
Reporting this month’s sales and marketing report to your manager, senior executives, or board members unfamiliar with marketing? We've got you covered with our executive report template.
Manage your reports less and invest more time driving results for your B2B clients. With the right insights, you’ll be able to plan the right content and drive the results your clients want - a win-win for everyone involved!
Ready to track your most essential B2B marketing metrics?
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