By Data can paint a picture of continually streamlined processes, reduced costs, and better marketing-sales alignment. Or it can reveal one where you're struggling to consistently generate SQLs and are unsure why strategies aren't working. In the case of the latter, often the B2B technology company doesn't have the reliable tech in place to track those marketing KPIs in the first place.
HubSpot's reporting tools make measuring the right KPIs consistently easy. It reveals the whole picture you may be missing when trying to measure a KPI with different tools and no automation. Here's how to get more out of the data through HubSpot tools.
1. Decide the KPIs You Need to Track
HubSpot helps you track every B2B marketing KPI that matters to your business.
Customer Acquisition Costs (CAC)
Your CAC represents how much you're spending to acquire a customer.
Track this B2B KPI using reporting to understand better where you need to focus your efforts and spend your money. While it's essential to spend wisely, a high CAC can indicate larger problems that shouldn't be ignored, like inadequate:
- Marketing-sales alignment
- Lead-scoring systems
- Use of automation to improve timing and cut waste
- Focus on long-term brand-building through inbound marketing
Organic Traffic
You do a lot to generate traffic to your website. But as long as you have to pay for every click, CAC remains high.
Using HubSpot's reporting tools, track organic traffic from search engines like Google as well as organic social media traffic that arrives on your site because the content you create and share on social media is building a following and gaining traction.
The most cost-effective and efficient way to increase the number of leads entering your sales funnel is by turning your B2B tech company's online presence into a magnet through the content that your target audience sees as high value and relevant.
Conversion Rate
That high-value content you create for your B2B technology audience guides those people consistently through the Buyer's Journey. Along this journey, you must convert visitors into leads that you can more effectively nurture, from marketing qualified leads (MQL) to sales qualified leads (SQL) that are ready to buy now.
HubSpot reports also help you track your MQL and SQL as well the percentage of MQL who become SQL, a very revealing B2B marketing KPI that every B2B technology company should track.
2. Learn the Basics of HubSpot Reporting
The reports will contain three basic elements:
- Title: Clearly define what you're measuring in your title so that you and others understand what this report is as you save it and share it.
- Reporting period: Define the period this report tracks.
- Summary: This is a quick analysis of the data, including wins and losses compared to the goals you established. This provides you with a quick view of how you're progressing toward larger goals or objectives.
3. Establish the Purpose of Your Report
Think about:
- How you're going to use this data
- How often you'll view it
- Who needs to receive a copy
- What they need from this report
- If this report needs to serve multiple purposes (that's okay)
Answering these questions will help you know what belongs on the report and what will just obscure the report's true purpose.
4. Schedule and Automate Reports
With the reporting tools, you can run reports as needed on-demand. But, we also recommend that you schedule specific reports to run on a schedule. Automatically notify the report's recipients that the report is ready to view.
Through marketing automation, you can quickly and consistently communicate the same information to all stakeholders, such as your marketing and sales teams. Because the report is in the same format every time, team members can review and understand the information quickly. Those stakeholders now know precisely when they'll see the updated numbers. While you certainly should not use any B2B KPI to measure an individual's job performance, regular reports can undoubtedly create a culture of accountability and transparency in marketing and sales.
5. Measure B2B Marketing KPI by Channel
Take advantage of the reporting to automatically drill down to what's happening on each marketing channel. Through it, you'll better understand which B2B marketing channels deliver the lowest CAC and the highest ROI.
6. Measure B2B Technology KPI by Persona
Further, break down contacts by persona to ensure you're effectively communicating with your ideal customers. This information reveals inconsistencies in your messaging or who you're attracting through inbound and outbound means. Use what you learn here to generate more SQL faster and with less cost to increase your ROI.
7. Get Feedback from Report Recipients
While the adage "you can't please everyone" is certainly true, you should undoubtedly gather feedback from recipients regarding the availability of the information they need for decision-making.
Are you ready to get started measuring marketing KPIs in HubSpot to reveal the whole picture of how your marketing strategies are working and where to improve? Download this case study to see how one B2B technology company used marketing automation like this to get 20X ROI.
