“So tell me, how successful was your content?” is a question many a marketer gets asked, especially in B2B marketing. Partner marketing teams leverage the relationships between companies to reach a broader audience. This means your content has the potential to reach so many more people. However, truly understanding the success of any partner marketing campaign hinges on one key element: your ability to measure and analyze its effectiveness.
If you were a baker, you’d assume success simply if your pastries and treats sold out. However, understanding how partner marketing content performs requires a structured approach to setting KPIs, utilizing analytics tools, tracking conversions, and interpreting data to refine content strategies.
As marketers, we can’t count on confections to save the day, at least usually. Below are four ways to help partner marketers measure the success of their content.
It starts by setting clear KPIs
Did you know that, according to the Pragmatic Institute, companies invest approximately 10% of their annual budget in promotional campaigns? And the hardest role for most CMOs? Convincing management that this kind of investment pays off.
KPIs have entered the chat.
Since measuring marketing effort is more complex than counting cookies or muffins, key performance indicators (KPIs) are used to gauge the effectiveness of your partner marketing content. They provide a clear framework for what success looks like. And as a bonus, they enable you to measure progress against your goals.
Common KPIs in partner marketing include:
- The number of leads generated through partner content (lead generation)
- The percentage of leads that convert into customers (conversion rate)
- Metrics such as likes, shares, comments, and time spent on content
- The amount of traffic driven to your website from partner channels
- The revenue generated from leads acquired through partner marketing efforts
If talking about KPIs makes you feel like you need an educational refresher, check out 7 marketing KPIs you should know & how to measure them from Harvard Business School.
Utilize analytics tools
Even the most experienced bakers use measuring cups and teaspoons to ensure each batch turns out perfectly. Partner marketing is no different. To effectively measure your KPIs, you need analytics tools that capture the necessary data.
HubSpot is a comprehensive marketing, sales, and service platform that offers detailed insights into lead generation, email marketing performance, and overall campaign effectiveness. Its partner dashboard is handy for tracking joint marketing efforts. And, HubSpot is one of our all-around favorites.
If your partner content includes guest blog posts or shared landing pages, a tool for tracking SEO performance, such as SEMrush, is essential. And where would we be without mentioning Google Analytics for tracking website traffic, user behavior, and conversion rates. It’s sooooo helpful when you understand how visitors from partner channels interact with your site.
Tracking conversions in 3 easy steps
Conversion tracking takes the cake for understanding how effective your partner marketing content is at driving desired actions. In its State of Marketing Report, HubSpot shared that more than one in three marketing leaders cite conversion rates as a top KPI that they prioritize tracking.
Here’s how to set up and monitor conversions:
- Define conversion goals. Identify what constitutes a conversion for your campaign — this could be a form submission, a download, a purchase, or any other meaningful action.
- Set up tracking. Use tools like Google Tag Manager to implement conversion tracking on your website. Ensure that all partner channels have UTM parameters to track the source of traffic and conversions.
- Monitor and analyze. Review conversion data regularly to identify which partner content is performing best. Look at metrics such as conversion rate, cost per conversion and the time it takes for leads to convert.
Sounds easy as pie, right?
Final tips: Use your data to refine strategies
Collecting data is only the first step; the real value lies in interpreting it correctly to refine your content strategy. Look beyond surface-level metrics and dive into how users interact with your content. For example, high engagement on partner posts could indicate strong content relevance and quality.
You’ll also want to segment your data. You can break it down by different partner channels to see which ones drive the most value. (Pro tip: This activity can help you allocate resources more effectively).
Another recommendation is to use data to spot trends over time. Are there certain types of content or topics that consistently perform better? Are there specific times or seasons when partner content is more effective? A/B tests can help you continuously test different versions of your content to see what resonates most with your audience. Use the insights to optimize headlines, CTAs and overall content structure.
A final suggestion is to work with your partners! Establish a feedback loop to share insights and performance data to collaboratively refine strategies and maximize the impact of your campaigns. (May we suggest over coffee and donuts?).
A recipe for partner marketing content success
Measuring the success of your content in partner marketing requires a strategic approach to setting KPIs, leveraging analytics tools, tracking conversions, and interpreting data. By following these steps, you can ensure that your partner marketing efforts are not only effective but also continually improving. Remember, the key is not just to collect data but to use it to drive actionable insights and refine your strategies for optimal results.
Wish you had assistance from some partner content marketing experts who just so happen to share your sweet tooth? We’d love to connect. Reach out today!