Formulating B2B Lifecycle Marketing Dashboard – Part 1
Objective of a lifecycle marketing dashboard is to provide a quick understanding of various stages of the lead lifecycle. The metrics in the dashboard should be selected carefully so that fewest metrics can give the broadest understanding of the business. The dashboard should be populated regularly (example: quarterly) so that trends in the metrics are apparent and actionable.
B2B lifecycle comprises of the following five stages. We recommend that the metrics are grouped under these stages for providing an intuitive structure to the dashboard.
Attract: Bring visitors to your website who previously did not know about your business
Capture: Get the visitor to provide you their contact information, especially email, resulting in a lead
Nurture: Provide frequent drips of useful content to the new lead
Convert: Convert the lead to customer by advancing it through marketing funnel
Expand: Retain the customer, upsell and cross-sell to the customer, and generate referrals from the customer
Let us explore some key metrics that will fall into each category. Of course, you should add or subtract from this list of metrics based on your special business needs.
Key metrics in this category include:
People visiting: Number of unique users at your website. To find this, use the section “Audience Reports > Overview” in Google Analytics
Bounce Rate: Proportion of visits with only one page. This is available in “Behavior Reports > Overview” in Google Analytics.
Social Media Followers: Add up the followers in the top social networks that matter to your business. Candidates include LinkedIn, Facebook, Twitter, Youtube, Quora, and so on. The social media used should be consistent over time.
New Articles: Count of original content pieces created by your company. Candidates include internal blogs, external blogs, eBooks, case studies, white papers, data sheets, et cetera. Consistency over time is important.
Events: Events participated for marketing purposes such as tradeshows, analyst summits, and partner events.
External links to site: This is a major determinant of your SEO success. To find this, go to “Google Webmaster Tools > Search Traffic > Links to your site”. Alternately, you can find this information in 3rd party tools like Majestic SEO or ahrefs.com.
Google ranking: Determine the foremost key word / phrase that represents your business and that you want people to search to find your website. Then find the rank of your website in Google among organic listings.
Key “Capture” metrics include:
Conversion rate on forms: Ratio of forms submitted divided by unique visitors to forms. The numerator can be obtained from marketing automation system (or similar) and the denominator from Google Analytics.
Known visitors: Percentage of visitors who are returning visitors. Available in “Audience Reports > Overview” in Google Analytics. This is an indicator of the “stickiness” of your site.
Referrals from Partners: Number of leads originated from partners. Typically, this is a high performing lead source, hence its inclusion. You may decide not to include.
Referrals from Customers: Referral leads from existing customers. Relevant because it is a high conversion source as well as it is an indicator of customer satisfaction and advocacy.
Number of new Partners: Relevant for businesses who depend on partners for a significant portion of its business.
See rest of the dashboard discussion in our next blog.