Mar 27, 2024
As a small B2B business owner, you need to understand the effectiveness of your marketing efforts and make data-driven decisions to optimize your strategies. How do you do that? Key performance indicators (KPIs) and metrics!
This week on the podcast, I’m talking about the importance of tracking KPIs for small B2B businesses. I’ll share why aligning your KPIs with your business objectives is vital and explore some essential KPIs that small B2B businesses should consider tracking. I’ll also share the tools you can use to monitor these metrics effectively and set realistic expectations for growth. And I’ll also talk about the importance of looking beyond the numbers and considering qualitative factors that contribute to long-term success.
Key takeaways:
KPIs help you make evidence-based decisions about your marketing strategies, ensuring you invest your time and money wisely.
Essential KPIs for small B2Bs include lead generation metrics, conversion rates, customer lifetime value, engagement metrics, email marketing performance, and SEO performance.
Not all KPIs and metrics are built the same. Know what you want to track and why.
When setting growth expectations, differentiate between short-term and long-term metrics, refer to (and maybe even write off) industry benchmarks, and be willing to adjust your strategies based on performance.
Don't forget to consider qualitative factors such as brand awareness, customer satisfaction, and your own well-being when evaluating your marketing success.
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