More and more industrial and B2B marketers now view customer engagement as the key to driving incremental sales and revenues. However, accurately defining and measuring customer engagement in complex business or industrial sales is still elusive.
The most simplistic approach to evaluating customer engagement is to measure conversion rates. For an eCommerce site that is easy, it is typically the value of transaction per visit. However, it is not so simple to measure customer engagement in situations with long sales cycles that’s commonplace with manufacturers, sellers of technical products and B2B consultative solution providers. I have written about this problem in my previous post, “The Disconnect Between B2B Content Marketing and Customer Engagement.”
Some B2B marketers are using more sophisticated ROI measurement tools to track activities over the entire life cycle of a lead. For example, at Sopheon, a software provider, measures qualified leads by their source, their region, volume per region, the speed of aging, movement through the sales cycle and other metrics.
These metrics are all linked to 10 stages in Sopheon’s sales process. This way the company can see exactly where the leads are coming from, how old they are, where they are in the process, which account executive is handling them and where leads typically fall out. Read more