Understanding B2B marketing benchmarks: how do you measure up?
Benchmarking is essential for businesses of all sizes. It provides a reference point to measure your performance against others in the industry—whether it’s achieving goals, assessing competitor performance, or analysing internal metrics like click-through rates and conversions.
From a B2B marketing perspective, knowing how your company’s efforts compare to competitors is vital, but finding reliable data can be challenging. So it’s time to delve into the latest B2B marketing benchmark averages, then you can see exactly where your company stands and identify areas of improvement.
Email marketing: (source)
Email remains a powerhouse for ROI (return on investment) in B2B marketing, with impressive engagement metrics by anyone’s standards:
Average open rate: 32%
Average click rate: 4%
Click-to-open rate: 20%
Unsubscribe rate: 0.12%
87% of B2B companies use email to deliver content, and 59% say it’s their best channel for generating revenue. Plus, 31% believe that email newsletters are their best tool for nurturing leads. These stats really emphasise the importance of a robust email marketing strategy in B2B campaigns. We can’t stress how important email is for a great B2B marketing strategy.
Website performance: (source)
Your website is a crucial touchpoint in the B2B customer journey. Here are the key averages for B2B website performance:
Time on site (desktop): 4:54 minutes
Time on site (mobile): 1:48 minutes
Scroll rate: 48.2%
Pages per session: 3
Engagement rate: 63%
User conversion rate: 2.5%
Average time on page: 1:33 minutes
These metrics highlight the importance of a user-friendly, engaging website that can capture and retain the attention of potential clients, ultimately leading to higher conversion rates.
Social media advertising benchmarks
Facebook ads: (source)
Click rate: 0.90%
Cost per click: $1.72
Conversion rate: 9.21%
Cost per action: $18.68
LinkedIn sponsored content: (source)
Click rate: 0.44%
Cost per click: $5.58
Conversion rate: 5-15%
Cost per action: $30-$60
Engagement rate: 2%
TikTok ads: (source)
Click rate: 0.84%
Cost per click: $1
Conversion rate: 2-5%
Cost per view: $0.10-$0.30
Cost per 1000 impressions: $9.16
Social media platforms like Facebook, TikTok and LinkedIn offer valuable advertising opportunities with varying levels of engagement and conversion. Understanding these benchmarks can help you optimise your ad spend and target the right audience more effectively.
Google ads: (source)
Search campaigns:
Click rate: 2.41%
Conversion rate: 3.04%
Cost per click: $0.63
Display network:
Click rate: 0.46%
Conversion rate: 0.8%
Cost per click: $2.69
Google Ads is a crucial part of any digital marketing strategy, with search campaigns showing higher click and conversion rates compared to the display network. These benchmarks give you a clear picture of what to aim for in your campaigns.
Conclusion
If your campaigns aren’t hitting these benchmark averages, it might be time to rethink your digital marketing strategy, messaging, targeting, and creative approach. Understanding and leveraging these factors can help you pinpoint areas for improvement, optimise your efforts, and ultimately drive better results for your business. Stay informed, stay competitive, and let these benchmarks guide you to B2B marketing success.
Ready to elevate your marketing strategy? Let’s chat! Book a call with us today and start turning those numbers around.
