I just attended another fabulous live presentation by the San Diego Direct Marketing Association. The speakers, Randy Gerson of Gerson & Associates and Chris d’Eon of Deon Direct, knocked one out of the park — again.
Last time I saw Chris speak was when he was at ProFlowers. It was at that talk that I first realized he was a real direct marketing pro. This last presentation on “Collecting Marketing Metrics that Matter” didn’t change my mind about that. Randy, too, spilled out an impressive core of knowledge and advice.
Out of my pages of endless notes came a number of bits that every B2B marketer should brand on his or her brain. Here are five of those bits — from the experts’ mouths to my keyboard:
1. Keep your KPIs (Key Performance Indicators) on a single page. Any more than that will lead only to a muddied understanding of the metrics. Remember, KPIs are NOT analysis. They are top-level trends only.
2. In B2B, never figure cost per sale on immediate sales revenue. Always calculate it using the average life-time value of a customer.
3. Always start with simple A/B split testing. If the company is new or starting testing for the first time, keep the test simple. There is an approach to testing (multi-variate) that allows for testing dozens of elements at one time. But getting the results from complex testing takes too long. When just starting out, keep it simple and always run a direct test of one time against the other. Test one online site against another, one piece of content against another, one mailing list against another, etc.
4. Test the call-to-action button on every landing page. Having discovered the dramatic difference this single item can make in conversion on a landing page, Chris and Randy advise testing the color and the copy on the call-to-action button every time a new landing page is run.
5. Don’t waste time measuring things based on pure vanity. Impressions, clicks, leads, and likes are numbers that make us feel good, but they have no value as metrics on which B2B marketing decisions should be based.