Much like how the Nature vs. Nurture argument in scientific circles has evolved into an acceptance that both sides play a role, both quality and quantity are important when it comes to lead generation and management. You may have a stable full of leads but may not be nurturing them properly, which could hurt your chances of converting those leads into sales. This infographic from Orchestrate offers some interesting statistics which may reshape your approach to lead management.
Lead generation, we all know, isn’t a straightforward process guaranteed to lead to sales. If only it were that easy! Research has shown that a whopping 75% of leads are not ready to buy, and that 30%-50% of leads will buy from the vendor that responds first. 79% of marketing leads in particular will never convert. The key to successful conversion seems to be investing time and energy; companies that focus on mature lead generation and management have a sales quota achievement rate 9.3% higher than those that do not. Perfecting your lead nurturing process can boost your sales-ready leads by 50% — and at 33% lower cost! Despite this, 65% of B2B marketers don’t have established processes for lead nurturing.
The personal touch can help you foster connections with potential customers. 51% of the top 20% of B2B marketers use social media technologies to help them generate their leads. Click-through rates are 14% higher for emails that have been personalized. While this may take a little more time than just sending the same form-letter unchanged to each lead, something as simple as addressing each potential customer by name could raise your conversion rates by 10%. That’s worth a little extra effort. As I’ve discussed in other posts, investing in content marketing and developing some social media savvy can pay off in a big way. Inbound marketing generates 54% more leads than traditional paid marketing, and an investment in building an inbound marketing strategy saves the average company $20k per year.
These statistics support the importance of developing lead nurturing practices and focusing on in-bound marketing. Will they influence your company’s approach to lead management going forward? Tell me what you think in the comments.