Learn B2B Marketing Analytics in This Beginner's Guide
In this guide to B2B analytics, we’ll cover everything you need to know, including:
- What is B2B marketing analytics?
- What does B2B marketing analytics tell you?
- What are the benefits of tracking marketing analytics for B2B?
- What services can I invest in for B2B marketing analytics?
What is B2B marketing analytics?
B2B analytics involves looking at the data you’ve gathered from different campaigns and uncovering insights that tell you about your marketing performance. B2B marketing data helps you identify areas to improve your marketing to drive better results with your campaigns.
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What does B2B marketing analytics tell you?
When looking at B2B analytics, you can learn a lot about your marketing. Here are three key insights you learn by analyzing your marketing data:
1. How potential clients interact with your business
One of the biggest insights you can gain from B2B marketing analytics is how clients interact with your business. When analyzing the data from different marketing campaigns, you better understand what potential clients do when discovering your business.
Having this insight enables you to understand your audience better. You can see what draws them to your business, what information engages them, and more.
For example, you may find that after analyzing your data, your PPC campaigns drive the most people to complete form submissions. Based on this data, you may put more money and time into your PPC campaigns to earn more form submissions.
You can adjust your marketing efforts to encourage more engagement when you understand how potential clients interact with your business.
2. Where prospects struggle
One of the most significant benefits of marketing analytics for B2B businesses is that it helps you understand where prospects struggle. Even if you feel like you built a fool-proof ad, campaign, or website, prospects will struggle in ways you couldn’t predict.
When you analyze your data, you can see where prospects drop off or stop interacting with your company. You can then gain insight into the challenges they face that lead them to drop off or stop taking an interest in your business, and fix the issues.
For example, you may find that you have a high clickthrough rate (CTR) for your pay-per-click (PPC) ads, but prospective clients seem to drop off after that and not interact with your ad landing page any longer. Using the data and tools like heat maps, you can discover that your call to action (CTA) button needs adjustment to generate more clicks.
When you understand where prospects struggle, you can improve their experience and help guide more of them towards achieving your goals.
3. Which marketing strategies are most effective
With B2B marketing analytics, you can discover which marketing strategies are most effective. B2B analytics provide insights into what campaigns drive engagement and interactions with your company.
As a B2B business, you want to choose strategies that will help you continually nurture prospects towards becoming clients. Since the B2B cycle is long, you need to invest in strategies that continuously bring people back to your business.
With marketing analytics for B2B, you can discover which strategies help you achieve the results you desire. Having that information on hand enables you to make actionable decisions about your marketing that will help you improve your marketing.
What are the benefits of tracking B2B marketing analytics?
If you’re going to track your B2B marketing analytics, you want to know the benefits of doing it. Next in this B2B marketing analytics guide, let’s look at the three significant benefits of B2B marketing data:
1. B2B marketing analytics helps you make data-driven marketing decisions
One of the biggest benefits of B2B marketing analytics is that your decisions are backed by data. Whether you tweak your SEO campaign, adjust your website, or something similar, your choices are based on your analyzed data.
Making changes based on gut feelings won’t produce the best results. Data-backed decisions will produce far better results for your strategies, leading to improved return on investment (ROI) and revenue for your business.
Dated-backed marketing enables you to:
- Learn how clients discover your company
- Discover how prospects interact with your website
- Discover which channels engage your audience
- Eliminate campaigns or channels that don’t produce results
2. B2B marketing analytics helps you improve the customer experience
One of the biggest benefits of B2B marketing analytics is that it improves your client experience. As we mentioned earlier, marketing analytics help you uncover insight into how prospects interact with your business and where they struggle.
Having this information on hand enables you to improve the client experience. You can make more actionable decisions to improve your marketing and increase customer engagement.
Delivering a positive user experience is critical for turning prospects into clients. If your audience has a negative experience on your website, they won’t want to keep interacting with your campaign or website. With the long sales cycle of a B2B business, you need to keep prospects continually engaged.
Marketing analytics can help you revamp your marketing campaigns, website, and more to deliver a better experience for potential clients.
Additionally, B2B marketing data can help you understand different segments of your customer base. Based on your data analysis, you can see how they interact with your business and deliver a more tailored experience.
3. B2B marketing analytics help you adjust your marketing strategies to make them more effective
When looking at B2B marketing data, you can uncover critical insights into your marketing campaigns. These insights enable you to adjust your marketing to help you see better results with your campaigns.
Analyzing campaign data enables you to identify what’s working with your marketing. You may find that certain types of ads or content pages drive more traffic and engagement than others, which can inform your future marketing decisions.
For example, you may analyze your content marketing strategy and find that your listicle pages garner the most engagement out of all your content. As a result, you may shift your content marketing strategy to produce more listicles to boost engagement on your website.
With B2B marketing analytics, you can continually improve your marketing strategies, which will lead to more revenue and a better ROI for your business.
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B2B marketing analytics: B2B marketing analytics services you can invest in
If you’re looking to utilize B2B marketing analytics, there are services you can invest in to have a team of professionals analyze your marketing data. Here are the two most common services for data analysis:
Google Analytics consulting
With Google Analytics consulting, you’ll have a team of professionals looking at your SEO and PPC campaigns to analyze your data and uncover valuable insights to improve your campaigns.
These services often include:
- Setup of Google Analytics tracking
- Setup of customized goals
- Monthly reports on performance
- Setup and analysis of conversion funnel
For SEO, Google Analytics consulting can help you discover which keywords drive traffic, how well your pages rank, and more. This data can help you improve your SEO to drive more qualified traffic to your website.
For PPC, Google Analytics consulting can help you discover how many people click on your ads, which keywords generate the most leads, and more. Having this data makes it easy for you to gather insights about your ads and adjust ad campaigns to help you see more positive results.
Working with a Google Analytics consultant is a great way to help your business improve your search marketing strategies and earn more qualified prospects for your B2B business.
Conversion rate optimization (CRO)
Another strategy we’ll mention in this B2B marketing guide is conversion rate optimization (CRO). CRO is a marketing strategy that involves optimizing your marketing to improve your conversions. Conversions can be anything from form submissions to email sign-ups to becoming a client.
With CRO services, you’ll get features like:
- Heatmap and clickstream testing
- Website user testing videos
- Setup of conversion tracking code
- Goal funnel setup
CRO services use data to optimize conversion processes to help you earn more conversions for your business. From tweaking webpage setup to optimizing forms, CRO services help you power your changes with data.
P.S. If you’re interested in investing in marketing analytics services, check out our guide on how to find a good B2B marketing agency for some top tips to narrow down your search!
Choose the right B2B marketing analytics partner
This guide to B2B marketing analytics covered everything you need to know about marketing your company online. If you’re looking for a partner that can help you reap the benefits of B2B marketing analytics, look no further than WebFX.
We’ve been working with B2B businesses for over 25 years. Our team of over 500 marketing experts knows how to use B2B marketing data to drive better results. We’ve already driven over 7.8 million and over $3 billion in revenue for our clients in just the past five years!