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Analytics of B2B products
Most of the material available on the Internet in product analytics relates to B2C products. The e-Commerce industry is the leader in this field — it is online stores that are at the fore in the use of analytical tools to understand user behavior, measure conversion funnels, and UX optimization to adapt the product to the customer’s needs. For e-Commerce, we can find the most case studies, e.g., concerning the use of sales funnels.
Meanwhile, our research shows that 65% of product managers in Poland work with B2B products. In this article, I will present you with five aspects where the measurement of a B2B product differs from that of a B2C product.
Challenge 1: Measurement of sales activities.
For e-Commerce, it is pretty easy to define and measure a sales funnel. A user from a specific source enters the website, finds a product, adds it to the basket, places an order, and makes a payment. We can filter such a funnel after the following:
- the client’s source of origin (organic, paid),
- browser language,
- a version of the viewed application/website (mobile vs. desktop),
- and many others.
Marketing and sales of a B2B product, where sales are very often based on direct contact with the customer, is a much more advanced process to be metered due to the need to:
- obtaining leads,
- arranging meetings,
- implementation of demonstration meetings for clients,
- writing e-mails, and calling the client.
We need to measure all these aspects to be able to answer the questions:
- Is the process of acquiring customers from a specific source effective?
- How much does it cost us to acquire a customer? Are you sure the customer acquisition cost is lower than the customer lifetime value (CLV)?
- Does the client leave with us more than we pay to obtain it
Implementing marketing and sales tools or measuring these processes is usually not the role of product teams. However, we should work with marketing and sales to make sure the process is metered or at least aimed at.
