B2B reporting is an essential part of any company. It helps to improve the business in many ways, including better understanding your customers and what they want. Understanding what channels are generating more leads than others. Understanding which campaigns are producing higher ROI than others and producing better content that resonates with your audience for future marketing efforts!
Business-to-business (B2B) refers to forms of marketing that businesses use to sell products or services to other businesses, rather than to final consumers. This would include all types of organizations – ranging from small mom and pop shops right up through manufacturers and Fortune 500 companies. Because every industry uses some form of marketing to reach its customer base, there are many different things that need to be included in a B2B reporting.
Many departments at a business will benefit from running detailed B2B marketing reports. This includes, but is not limited to - the accounting department getting insight into how the business is doing financially. The production team gets all of the information they need to deliver their products on time and accurately. The sales team uses this data to see what campaigns are successful and where they should be focusing their efforts moving forward. And, of course, senior management can better understand how well or poorly the company performs with all of its departments doing what they are supposed to be doing.
What are the Most Important B2B Marketing Channels?
There are many different ways that businesses market themselves in today's digital world. While some methods may give you great results for less effort than others, it really depends on the industry you are in, your target audience, and what types of products or services you are selling.
For example, if you run a technology company that develops software training manuals for engineers. Then having a robust social media presence would be key to your business' success. If this is not something you have any experience with, your marketing team should partner with an agency that specializes in digital marketing. If "getting found" through search engine optimization (SEO) is important to your organization, consider looking into third-party companies that offer SEO as part of their service packages.
There are also many other B2B marketing channels available to businesses today such as Email Marketing, Social Media, Display Advertising, Paid Search, Offline Marketing, Content Marketing, & Mobile Advertising.
What is important to remember is that every business is different and the most successful strategies for your company might not be the best ones out there. These strategies would be better explained and be more insightful with the B2B Reporting.
What are the Most Important Marketing Tools To Create Better B2B Reporting?
There are many marketing tools available to use for your business – both free and paid. If you are just getting started with any of these tools, be sure to read through some reviews and case studies before signing on the dotted line. This will give you a better idea of what you can expect from each service and whether or not it's worth investing in. Some examples of popular marketing tools include Google Analytics, Adobe Creative, Cloud HubSpot, Salesforce, Bitly, MailChimp, Moz, SEMrush, Buffer, and Pinterest. As for which one(s) will work best for your business, that will depend on the types of B2B marketing campaigns you have going on, as well as your budget.
12 Important Things to Include in a B2B Marketing Report
Now that we understand what a marketing report is and some of the most important B2B marketing tools out there, let's talk about what needs to be included in this type of report. Keep in mind that different businesses will have different requirements for their reports – but since many companies follow the same standards, these tips will give you a head start on creating a successful one:
One of the most important things any B2B marketing team can do is develop a well-defined sales pipeline. As you know, there are many common goals that every company should have when it comes to developing leads.
You need to know exactly where your leads are coming from and how quickly they are moving through your sales process. The faster you can work up the ladder (from lead to demo request to customer, etc.), the better your chances of closing more deals and making more money.
It's important to track the health of your sales funnel – which means understanding how many new leads come in and how many actually make it all the way down before converting. Lead pipeline velocity shows you where opportunities are falling through the cracks, allowing you to more effectively target those who might be interested (but taking too long before making a purchase decision).
Some common goals include growing leads, increasing sales, and improving long-term relationships with customers. To build this crucial process for your business, your marketing department needs to create an effective lead nurturing strategy for your prospects. This means creating quality content that will educate them about topics that are relevant to their industry or buying stage. It also means following up on these leads consistently until they become buyers.
A common question we hear from our clients is "How do you measure how many people will actually recommend us?" Although this is a difficult thing to track across multiple departments, it's important to at least give your sales team (or whoever else may be part of the buying decision) something to go on.
There is no question that customer loyalty plays a big part in revenue generation for B2B companies. If customers don't believe in what you are selling or trust that you are going to provide them with a great experience after they have made a purchase, they won't stick around for very long. In order to keep those customers coming back, ask your customers to rate you using NPS (net promoter score), which allows you to get an idea of their overall satisfaction and loyalty.
By providing your finance department with accurate information about what you paid for each new customer, they can make better decisions about where you should spend money in order to grow the business. For example, if the cost per lead for advertising is $50 but it only generates one new customer per month, then it might not be a great investment.
This metric shows the price that companies pay for one-time customers, but because it's averaged out across all costs associated with marketing and sales, it won't give you a clear idea of where to invest time and effort when developing new campaigns.
If you are going to invest resources into acquiring new customers – whether it's through paid marketing channels or organic searches – then you need to know how much those customers are worth over the long term. In other words, if it costs $100 to acquire a new customer and they will buy from you for an average of $1,000 over the course of their lifetime with your business. This is a significantly better deal than spending $1,000 to acquire a new customer who only buys from you once.
While customer acquisition cost data paints a partial picture of the monetary value of bringing on new business, CLV metrics take things a step further by measuring how much revenue is generated from each customer over the course of his or her relationship with your company. This number should be frequently tracked so that you can see which marketing efforts (or products, services, etc.) are properly incentivizing your consumers.
It's important to understand how much money each customer will contribute to your business over the course of their relationship with you. The longer they stay with you and the more products or services they eventually purchase, the greater your overall profit margins will be. And this holds true regardless of what size your business happens to be.
After taking some time to research keywords relevant to your industry (and even those related to your competitors), make note of the top search queries that bring targeted traffic to all sites involved. This information can be used as a guide for future content optimizations and SEO campaigns. Also, it may be a wise idea to invest time and money in paid ads (PPC campaigns) that fit these search terms.
While this metric won't tell you how many people are searching for your industry terms across all platforms, it will give insight into what keywords are currently being searched most often by Google users. This is key information if you are trying to determine where to invest time and money when it comes to SEO campaigns.
After taking a look at your website analytics or running some PPC ads, break down each channel based on its costs (not just total dollars spent). It's important for businesses who are investing in marketing to be able to determine whether or not a particular campaign is driving qualified traffic.
To better understand the ROI of your marketing efforts, track how much you invest in each campaign. Then compare it with how much revenue that campaign generated over a certain period. The more accurate information you have about what is working and what isn't, the easier it will be for you to scale up successful campaigns while ending ones that are not producing results.
In order to maintain steady business growth, you will need an easy way of tracking how well your sales are moving month-to-month. That way, if something happens where progress slows down – or even regresses – it will be easy for marketers and strategists to make corrections and put a new plan into action.
If you are investing in paid marketing sources like PPC ads, your goal should be to see how many new customers those campaigns are generating each month. A revenue-per-channel metric gives you an idea of where you should spend more (or less), as it provides insight into which of your investment choices is paying off the most (or least).
How close are people getting to converting on your site? Knowing this information can help marketers develop better landing pages, content posts, etc., to convert more visitors. That way, they won't continue leaving at the first sign because there's no need for them to do so. In B2B Reporting, one needs to know about their “Marketing Qualified Lead”.
Marketers should also check to see how close their site's visitors were to completing a goal when they left. This metric is a combination of the previously mentioned and it helps marketers better understand why people are dropping off, which will ultimately help them increase conversions.
Three things marketers need to know about their website's landing pages: the time spent on the page, what percentage of people dropped off at each step and what percentage completed your desired action. With this information, you can make informed decisions about how to improve your landing pages. The more relevant and compelling they are for your audience – and thus, able to solve their problem – the more likely they will be to convert.
Sharing these numbers can help other marketers see if their cross-functional teams are on the same page. This could be a good idea for anyone looking to improve marketing efforts by examining each aspect of your team's work. If not, it may make sense to put together a separate report where you share this information.
How far have you reached your business goals?
This is a great way to show if your marketing efforts are effective or not. What makes it even better is that it can be combined with the PRO Tip below.
PRO TIP: How Are Users Engaging on My Site? Which Content Drives the Most Online Activity?
Knowing how people interact with your content can tell you why certain pages may be more popular than others. This could lead to marketers creating similar posts that are not outdated, slow down site speed, etc., to create a positive experience for all visitors. If it's possible, marketers should also include information regarding how long each piece of content has been posted and reference any changes it has made over time.
What failed? How to assess that?
This can also be used to improve your site's overall performance, content, etc. Similar to the last tip, you should include specifics about what was changed and when so that marketers can create a better experience for visitors. More importantly, this data could help inspire ideas for new trends or topics.
Knowing how much people are spending on your products/services would have a big impact on all marketers. This way they'd have an idea of whether or not they're doing enough to get visitors interested in converting. Knowing this number will help other marketers tailor their efforts based on yours while helping others understand if their campaigns need improvement. Including any additional information would be ideal, depending on the purpose of your report. If it's meant to be used as knowledge, marketers should include positive and negative outcomes that were not mentioned above.