There are literally hundreds of marketing metrics a business leader could measure. There are more channels to oversee, more data, and final results to analyze. All of this can feel exhausting for marketers.
However, for most senior leaders and CEOs, the numbers they care about most are the ones directly tied to revenue. The right information can help them understand precisely what factors are working, what factors are failing, and what the organization can do to improve.
So, which metrics matter most for CEOs and senior leaders?
3 B2B Marketing Metrics to Share with Your CEO
Whenever I’m meeting with marketing leaders, here are three metrics I encourage them to share with their CEOs on a regular basis:
- Lead Volume Per Source—This basic metric is still crucial to measuring the success of your lead generation programs and determining where to invest your marketing budget. Are most of your quality leads coming through your digital campaigns, trade shows, or search engines? Being able to clearly identify where new business leads are coming from will help your CEO understand how to invest in marketing in the future.
- Close Rate—Knowing the number of customers derived from your marketing leads will signal the effectiveness of your lead nurturing programs. Are you bringing in the right type of leads that will eventually turn into clients? Or, are you generating a bunch of leads that end up wasting the time of your sales team? Determining your close rate will not only help your CEO identify the number of leads you need to hit revenue goals, it will also help you understand how you can support sales to improve the close rate over time.
- Time to Close—Every business leader is interested in shortening the sales cycle, because they know the longer it takes for someone to make a decision, the less likely they are to buy. Establishing a baseline for your time to close a sale will give you an idea of how long it takes, on average, to close with each customer. Then your sales and marketing teams can begin working together to identify strategies for accelerating the sales process.
By taking time to measure these areas, you can equip your CEO with insights into a prospect’s decisions within the sales cycle and spell out exactly what’s driving revenue. You can identify both problem areas and potential opportunities. In the end, this will position you as a more powerful and profitable marketing program.