B2B Articles - March 01, 2017
According to a Statista report, 92% of SMEs consider their own websites to be the most effective digital marketing tactic.
But which website metrics are these SMEs monitoring— and do they really indicate sales growth?
To tackle this question, we'll cover the 4major website metrics you should be tracking. These metrics tie directly into your business' bottom line.
For many digital marketers, it's common to track "vanity" website metrics.
Such vanity metrics include:
These metrics mightsound good on paper. Additionally, theymay indicate that one aspectof your website is performing well.
But vanity metrics don't answer the question: Is my website contributing to sales growth?
Such vanity metrics might be one component of your analytics strategy. But in addition, focus on tracking website metrics that matter to sales. These include:
If you have page views but not conversions, you probably have a fluffy but underperforming website. Consequently, a poor traffic-to-lead conversion will tell you that your website isn't setting up your sales pipeline for success in some way.
For example, maybe you're not hitting the mark with web content. Or maybe you're attracting the wrong people. Additionally, you could be investing in traffic sources that don't bring in enthusiastic leads.
Every solid sales funnel needs a reconversion strategy, and your website can be the most cost-effective channel to reconvert leads.
Top converting companies spend more than 5% of their budgets on optimization, according to an Adobe survey. In addition toattracting new leads, your website shouldalso contribute to lifecycle marketing.
For this reason, you should be tracking website metrics that measure reconversions. This includes the number of leads who reconvert on your website, the quality of those leads, andthe conversion rates for particularforms and landing pages.
Above all, your website is the backbone of your digital marketing strategy. And tracking this website metric will tell you if your online funnel works.
You should be continually assessing your website to make sure it's bringing in the right people who have become (or will likely become) customers.
Even if your website drives conversions, it won't matter if those leads aren't qualified for sales.
To measure this metric, you need to invest in software that tracks data points like:
Who is visiting your website and converting, on an individual contact scale
Which source your leads come from (referral backlinks, SEO, etc.)
How many website leads became sales-qualified opportunities
By tracking all of these data points and comparing them against each other, you will know the correlation between website spend, qualified leads generated, and ROI.
Deals won/LTVgeneratedfrom web leads
Importantly,you should measure website spend against the value of website-generated deals.This includestracking:
The cost of your website strategies and expenditures
The LTV of website-generated leadswho close into customers
As you can see from these website metrics, a website's success is directly tied to its contribution to the marketing machine — and ultimately to sales growth.
To track these important website analytics, you'll need the right reporting tools. They must measure not only your website, but your marketing assetsas a whole.
Your website's built-in analytics dashboard might not make the cut.In addition to reporting software, you'll also need data on your sales funnel and a CMS that tracksconversions on an individual level.We recommend a full-funnel CMS like HubSpot.
With the right website metrics in your analytics strategy, you'll have enough insight to make smart, sales-driven decisions about your digital marketing.
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