At Leadfeeder, we love data. That's part of why we spent so much time creating a tool that gathers data about what companies visit your website!
Consider this — some people go through life barely thinking about spiders at all. Then there are people (like me) who want to see real data.
Did you know the global average spider density is about 131 spiders per square meter? 🕸🕷
Even that emoji gives me chills.
Anyway, the point is — data matters. It matters when you're trying to figure out how many spiders might feasibly be in your Airbnb rental, and it matters when you're trying to figure out what marketing strategies actually driving sales.
Most businesses, however, are running without all the data they need to make smarter business decisions.
Today, I wanted to share three types of metrics many businesses don't track — and how you can use that data to get ahead of your competitors.
Note: Leadfeeder is a website tracking tool that uncovers who visits your website. We also track video views, form fills, and more. Sign up for a free 14-day trial and get access to the data you need to make smarter business decisions.
3 types of metrics you aren't tracking — and why they matter
There are dozens of metrics to track when it comes to sales and marketing. Things like site traffic, time on page, and clicks are pretty standard metrics most businesses track.
But, there's a wealth of other data slipping through your hands, including video metrics, form tracking, and download tracking.
Why do these metrics matter? They measure more than just actions, but actual engagement. And they can tell you a ton about your sales and marketing.
Let's take a look at each type and why they matter.
Video marketing is on the rise, making the case for video tracking. In fact, 86 percent of businesses currently use video marketing. Sales teams also use video to share demos, introduce specific features, or in prospecting.
The problem? Most businesses only use video tracking for one or two metrics. Plus, a lot of platforms (including Hubspot!) don't track video metrics at all.
Why video tracking matters
If you’re only tracking video metrics like number of video plays, you could be missing out on a ton of data. For example, how long do people watch your video? That could tell you where you're losing their attention. This can also tell you how long the average video should be.
Note that different types of videos might need to be longer. For example, a sales video might only keep the user's attention for sixty seconds or so, while a demo could hold attention for 10 or 15 minutes.
If you aren’t using video tracking to monitor how long users watched every video, you won’t know how long your videos should be.
Here are a few other video tracking metrics to keep an eye on:
View Count: How many times your video was played.
Social Shares: How many times your video is shared on social media.
Audience Retention: How long users watch a video.
Video Impressions: How many times a video shows up in a user's feed as an ad or post.
Click-Through Rate: How many users click through a CTA on a video.
Play Rate: How many visitors actually click to play your video. (Which indicates your thumbnail and title are attracting attention.)
Engagement Rate: Total time watched divided by the number of video plays. This tells you how much of a video the average user watches.
Finish Rate: How many users actually finish your video.
Acquisition: Where are people finding your videos?
In addition to specific video tracking metrics, you can also track how many visitors move from videos to other content so you can keep an eye on more qualified leads.
For example, in Leadfeeder you can create a custom feed filter to track leads that watch a demo video and then check out your pricing page. And the best part is that when you use video tracking with Leadfeeder, you get the company behind the person who watched the video.
Some of this data is in YouTube if that is where you host videos. Other data requires additional tools, like Leadfeeder.
Forms are one of the most powerful steps in a lead generation funnel. Therefore, form tracking is up there with metrics you need to keep an eye on.
You've spent weeks (maybe even months) moving leads through your funnel to your pièce de résistance — your form.
Maybe it's for a free trial, a lead magnet, or even a webinar.
If you're only using form tracking to see the number of people who fill out your form or landing page traffic versus form completion, you could be missing out on a lot of intent data.
Why form tracking matters
Ideally, every visitor who lands on your form will fill it out. Of course, that doesn't always happen. Some people might change their minds, get distracted, or simply forget to complete the form — this is where form tracking comes in.
Here are a few other form tracking metrics:
The field that takes the longest to complete: This could be causing friction and lowering your conversion rates.
The last field user clicks before abandoning the process: The question might be confusing or they might not be willing to provide the data.
Users who abandon a form but go back and engage with your site: You might be pushing conversion too soon.
Which fields are left blank: Consider if the field is necessary or if the question is confusing.
How long it takes to fill out a form: If your form is too long, it could cause visitors to abandon it.
Where can you get this data? You can use Google Tags for some of it. Leadfeeder can also help.
For example, you can create a custom feed in Leadfeeder for tracking companies who did not form-fill on a specific URL within the United States. The page I used is the form you get to after clicking on our main CTA on the home page.
You can infer that companies who clicked on that button were interested in a trial, meaning that they’re in the middle or bottom of the funnel. Giving your sales team that list is a win on its own.
However, you could also track that data over time to see if there are any similarities between the people who form fill vs. those who don’t. Do the results make sense against your ICP?
If not, and you expected more companies in that category to form-fill, what can you change to make the form more user-friendly?
Most B2B companies rely on lead magnets to generate quality leads. At Leadfeeder, for example, we use guides like this one to gather leads and understand where they work and what they do:
What I've noticed, however, is most businesses only use one metric to track downloads — did the item get downloaded?
While that matters, there are other metrics to consider.
For example — how many people who download your lead magnet become paying customers?
Are those customers more or less likely to churn?
Do users who download a lead magnet take longer to convert?
Why tracking downloads matters
While more leads is always good — better leads are crucial to long-term growth. By tracking download metrics beyond the number of downloads, you can better understand lead magnets' true impact on your business.
Most of these metrics can be tracked in your email marketing, CRM, or landing page platform. Integrating Leadfeeder with your CRM can also help.
For example, you can create a filter as simple as cross-referencing downloads with company size. The result will tell you if your content is relevant to your ICP.
There are tons of options within the Leadfeeder platform to track downloads and measure how your content is doing — company size is just one option.
Leadfeeder helps businesses make better business decisions
Leadfeeder does more than just track site visitors. We show you how other efforts are paying off, too. If your business wants to better understand how videos, forms, and downloads are impacting your profits, we can help.
That data does more than just give you more data to sort — it helps B2B businesses make smarter business decisions and drive long-term growth.
Note: Sign up for a free 14-day trial of Leadfeeder and see what companies visit your site — and what content they interact with.
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