If your inbound marketing campaign isn’t hitting bottom-line goals, can you pinpoint where or why it’s failing?
Most B2B marketing teams can’t.
There’s no doubt – inbound for corporations and enterprises is complex. It can be challenging to get a crystal clear picture of what’s working best and what’s not.
There’s a secret to getting ultimate inbound clarity … ask the right questions.
These are the seven questions you (or your agency) should be able to answer so you can get clear on your results and drive the most ROI.
#1 – What are our KPIs throughout the customer lifecycle? And, are we hitting them?
The most effective way to determine where you could be losing leads and prospects is to set benchmarks through the customer lifecycle.
But, more often than not, when we begin working with a new B2B client, they’ve only reviewed spreadsheets with weekly high-level aggregated data. They don’t see KPIs that track intent, behavior, and engagement through the customer lifecycle. And, they often don’t see that data at the campaign-level.
Here are some metrics to track engagement:
- Time spent on site
- Number of pages viewed during a website visit
- Opt-ins on forms
- New Visitors vs. Returning
Tracking these insights at a campaign level will allow you to quickly see what’s working and what could be improved to scale your results.
#2 – What’s our average cost per lead per campaign?
Many corporate marketing teams focus exclusively on the end goal – cost per acquisition. They might only have a vague idea of their average cost per lead. And, most don’t know their average cost per lead per campaign.
Here’s why knowing your average cost per lead per campaign is critical:
Let’s say your weekly spreadsheet report includes aggregate data for all campaigns and the average cost per lead is $150.
What if one campaign generated high-quality leads at $50 while another was averaging the same quality leads for $250? If you know the average cost per lead at the campaign level, you have the opportunity to scale by adjusting or turning off the campaign getting the $250 leads!
#3 – Which channel is driving the most high-quality interactions and leads?
If you have KPIs set for each stage of the customer lifecycle, then you should also be reporting on which channel is achieving those KPIs at the lowest cost. With that data, you can confidently make the business case to scale your budget on the top-performing channels.
That’s how one of our B2B enterprise clients quickly got a $10,000 budget approved for LinkedIn ads. They could prove – with data – that LinkedIn advertising was their top-performing channel driving the most leads and revenue. And they could predict results from the $10K ad spend based on past achievements.
#4 – How are we nurturing leads after the first inquiry?
One of the biggest mistakes we see is Marketing passing leads to Sales before those leads are ready to speak to a sales rep.
We break lead generation inbound campaigns into four categories based on audience engagement – cold, cool, warm, and hot.
A warm lead might have opted in on a form with 2-3 form fields and agreed to receive a piece of content with a minimal time investment, like a checklist, infographic, or guide. They might be interested in reading that content, but are they ready to buy at this time?
There should be strategic content to nurture the warm lead to the hot phase. Then, those hot leads could be passed to Sales when they’re much more likely to convert.
Many inbound agencies stop tracking KPIs after the first inquiry. Check in with your team and make sure you have a strategy to nurture marketing-qualified leads to become sales-ready leads.
#5 – Are we accurately attributing closed opportunities to inbound campaigns?
What if your campaign is not actually failing… but you don’t have proper attribution set up to connect all inbound activities to revenue?
Most companies aren’t properly tagging links to accurately track results. Without clean data in Google Analytics, it’s impossible to see how your campaigns are influencing closed opportunities.
Check out this article to learn how to use UTM tags to maximize ROI from inbound campaigns. And, to prove it!
#6 – Are we A/B testing?
There are so many elements of an inbound campaign that could affect results:
- Landing page
- Ad image or video
- Target audience
How do you know for sure the combination chosen for a campaign is getting the most possible results?
Answer: A/B testing.
You should be testing different elements to determine what’s working best. And, once you know the elements that are consistently driving results, you can apply that insight to future campaigns too.
Related: Why is A/B testing important? (+ Free infographic)
#7 – Do we have full access to our ad platforms and Google Analytics?
We do hundreds of inbound audits and assessments for top B2B brands. The biggest red flag we see is when they don’t have full access to their ad platforms, like Facebook Ads Manager, or Google Analytics.
The client is completely at the mercy of their agency to be transparent and communicate what they’re implementing and the results.
If you want to get a clear understanding of your results and drive the most possible ROI, make sure you have full access to your ad platforms and Google Analytics. It’s your budget, and you should always have full visibility into how it’s used!
Having trouble answering these questions?
Here’s a few ways to start!
- Read up on some common inbound marketing mistakes and how to fix them
- Audit your Google Analytics to better communicate your wins
- See how a multi-channel marketing audit can uncover potential revenue opportunities, or our inbound marketing solutions can really drive you greater wins
- Ask us a question or connect with me on LinkedIn!