Koroberi is a B2B integrated marketing agency located in the North Carolina's booming Triangle. Koroberi specializes in branding, content creation, PR, advertising and digital strategy.
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B2B
benchmarking metrics

Overview

As marketers, we spend a lot of time tracking and analyzing countless metrics to help determine the effectiveness of our activities. We use them to defend our resources, identify areas for improvement and determine our competitive position in a crowded environment.

But as many of you know, it can be difficult to hunt down relevant campaign benchmarks specifically for B2B to help answer the question, “Is that good?” And moreover, how you make real use of so much raw, unfiltered data.

Metrics to track

The first steps in measuring marketing success is to identify what “success” looks like and what you’re going to measure. It’s important to be intentional in determining what indicators are both relevant and measurable during the initial planning stages of any marketing activity because it’s not one-size-fits all.

Take impressions for example. Impressions, or total number of times your content could have been seen, might make sense to measure when a business’s objective is brand awareness. But what if the objective of a campaign is lead generation? The impression number is not nearly as important as, say, engagement rates.

And beware of vanity metrics. These are reporting measurements that don’t add any depth to your understanding – they do little to prove ROI or measure company growth or positioning. Instead, they’re just those “nice-to-know” stats that might help you fill up a PowerPoint slide. One good example of a vanity metric is advertising value equivalency (AVE). AVE helps the PR industry monetize their activities by multiplying the length of a printed article or broadcast spot by the advertising rate. Often a multiplier is used to account for perceived credibility and validity of the editorial coverage, as compared to advertising. This all sounds good, but AVE can be very difficult to calculate effectively. Not only do AVEs ignore the tone of the coverage, but there’s no industry consensus on the multiplier, so marketers can be calculating these figures very differently.

The rule of thumb is any reporting metric that does not support business objectives should be considered

See below for a list of common business objective, and a sampling of best-fit metrics to measure success.

  • Impressions or reach
  • Pageviews
  • Unique opens and/or open rate
  • Number of new followers or subscribers
  • Share of voice
  • Cost per impression

  • Interactions (mentions, shares, comments, likes, etc.)
  • Unique clicks and/or click rate
  • Engagement rate
  • Average session duration
  • Pages per session
  • Cost per click

  • Conversion rate
  • Click rate
  • Number of leads
  • Cost per lead

Importance of longevity

Imagine the difference between a year’s worth of data versus just one month — it’s huge. When observing campaign metrics, longevity and consistency are key to a full, rich understanding of performance. Like the number of website visitors or page views, these numbers on their own mean very little, but when you view this data over years, it can reveal trends, shifts in usability, company growth and industry buying cycles. If there is a significant spike or dip in a particular metric, that is a sign that something has changed. You must determine if it’s a good change or a bad one, and how to either correct the ship or continue the positive wave moving forward.

The big caveat

Although benchmarks are helpful for setting an initial bar, performance metrics vary widely by specific industry, calculation methodology, company size and campaign goal. We caution against companies getting too hung up on broad benchmarks and recommend also benchmarking your performance against your past performance and that of your direct or closest competitors when possible. So how do you do that? Consider using a trusted third-party tool like one of the following to help you monitor performance and keep tabs on your competition:

Website

Google Analytics
HotJar
PageSpeed Insights
Similarweb

Social

Sprout Social
Sprinklr
Hootsuite

Advertising

Google Ads
LinkedIn Ads Manager
Facebook Ads
Spyfu

PR

Meltwater
Cision

SEO

Moz
Ahrefs
Google Search Console
SEMRush

Email

Mailchimp
Eloqua
Hubspot
Litmus

B2B benchmarks

Website

Session duration:

2:21

Pages per session:

2

Load time (sec):

3

Bounce rate:

<60%

*Source: Digishuffle

Email marketing

Open rate:

22%

Click rate:

6%

Unsubscribe rate:

0.12%
Social media (organic)

Engagement rate:

0.6%

Engagement rate:

0.11%

Engagement rate:

0.09%

*Source: TrackMaven

Facebook ads

Click rate:

0.78%

Cost per click:

$2.52

Conversion rate:

10.63%

Cost per action:

$23.77

*Source: WordStream

LinkedIn sponsored content

Click rate:

0.39%

Cost per click:

$7-11

Conversion rate:

1.5-4%

Cost per action:

$30-60
Google Ads
Search campaigns1

Click rate:

4.29%

Conversion rate:

7.05%
Display network2

Click rate:

0.46%

Conversion rate:

0.8%

*Source: WordStream 1,2

NOTE: In March 2020, the COVID-19 global pandemic sent billions into lockdown all over the world putting normal life as we know it on hold. More time at home means more people checking emails and interacting on social media throughout the day and evening. These major shifts in daily life can be observed in metric trends, so we recommend updating all campaign benchmarking information to account for these changes.

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