As marketers, we are obsessed with what’s working, what’s not working, and where we can get more value. As such, we like to talk a lot about Key Performance Indicators (KPIs).
When it comes to your B2B website, there are so many KPIs that you can track, analyze, and report on. However, a lot of the data can be insignificant or irrelevant. In this post, we take a look at how to determine the key metrics you should be paying attention to when looking at your website.
What is the main goal of your B2B website?
Whether you are starting a new B2B website design project, just launched a new website, or are evaluating your existing website, it’s best to step back and look at the goal of your website. What is the main thing it should be doing?
- Building brand awareness
- Acting as a credibility builder (for investors or an upcoming IPO)
- Generating new client leads
- Providing resources for clients
While your website can do all of the above, you should select the primary goal so you are able to determine if it is effective and aligned with your overall business strategy.
Read more: Tips to successfully oversee a website project.
Choose clear, measurable KPIs
Marketers tend to fail when it comes to measuring performance by not defining clear, measurable KPIs. For example, growing website traffic is a good KPI for evaluating brand awareness, but a better one is growing organic search traffic 10% year over year is easier to track and report on. Be specific and clear about your goals.
Common KPIs to consider
It’s easy to get overwhelmed or to “fall down the rabbit hole” of analytics with all the data available. Below are a few common, helpful KPIs to consider when evaluating your B2B website.
- Website Traffic: Organic Search, Paid Search, New Visitors vs. Returning
- Engagement: Average Time on Site, Number of Pages Viewed
- Conversions: Website Forms Completed, Phone Number Clicks, Content Offer Downloads, Email Clicks, Job Applicants
- Content: Landing Page Visits, Exit Pages, Pages Viewed
- Channel Attribution: Visits from Social Sources, Visits from Partner Sites, Visits from Paid Directories, Visits from Review Sites
Whichever performance indicators you choose should correlate closely to your website goal. For example, the closest KPI for lead generation is the number of forms completed. Also, write them down or document them. Then you can refer back to that and track progress.
Read more: Budgeting tips for a website redesign project.
Pick a Few and Track/Analyze Regularly
Choosing KPIs does not mean selecting everything available (see “rabbit hole” comment above). It’s best to choose 4 – 5 KPIs and focus on those. Make sure you have tracking in place for the KPIs. Google Analytics is a great tool for tracking many KPIs, but you can also use marketing automation platforms like HubSpot or SalesForce to track.
Once you set the KPIs, analyze the metrics at regular intervals. For many B2B website managers, monthly intervals work well since they give 4 weeks of data and can be compared to the previous month’s performance or the same month last year. However, the interval will depend on the timeline you set for your overall goal.