It would not be a prudent use of your time and resources if whatever b2b lead generation tactic you were using did not work.
I would tend to think so myself.
Let me ask you a question.
Do you know what your b2b lead generation conversion rates are?
Can you tell me in a matter of minutes?
If you, can’t then it would be wise if you found them out.
Why may you ask?
Because you want to see what is working, and if you can make it better, then it makes sense to so as it will increase your conversion rates.
Also, you may decide to ditch what is not working and go with what is working or make a substitution to another tactic as you see fit.
Are you picking up what I am putting down?
Before we get into the nitty gritty I wanted to direct your attention to another stellar blog post that goes along with this one on the subject of b2b lead generation. Do yourself a favor and go read it, then come right back and finish this one.
Can you do that?
I know you can.
Recommended Reading: Why Content Marketing For B2B Lead Generation For Small Business?
Now you need a reason as to why you should keep reading this blog post until the end.
- For one it is action packed and roughly 1,000 words long so it will not take you long to consume.
- And we’re going to answer the question – Do b2b lead generation conversion rates matter? But you’ll have to keep reading to find out the answer.
Sound like a plan to you?
It does to me.
Now let’s analyze some actual statistical data rather than pull it out of thin air as it relates to lead generation.
Do b2b lead generation conversion rates matter – a statistical analysis.
- 68% of B2B businesses use landing pages to garner a new sales lead for future conversion. (Source: MarketingSherpa)
So that basically means a large portion of B2B businesses use landing pages to gather a new sales lead, so they can convert that lead into a customer down the line.
Do you use landing pages in your business?
Do you know if they work?
You know this one is coming.
What is your conversion rate?
If you’ve answered “yes” to all three of these questions – great job, if not you need to figure out this information.
Do you follow?
- 16% of landing pages are free of navigation bars. (Source: MarketingSherpa)
Are your landing pages free of navigation bars?
Are they necessary?
Depends on your ideal customer.
The only way to find out is to:
- test, test, test, and test again. Only then will you have your answer.
Alright my fellow small business owner?
- 42% of offer-related graphics on landing pages are not clickable. (Source: MarketingSherpa)
So, what does that mean to you? You should make your graphics clickable. A picture is worth a thousand words and your prospect is more likely to click on a graphic.
Stay one step ahead of your competition and make your offer-related graphics clickable.
Sound like a plan Stan?
- 84% of companies that have a CRM have a lead scoring process in place to determine the quality of leads. (Source: Direct Marketing News)
Do you utilize a CRM in your small business?
As mentioned do you have a process in place to determine the quality of your leads?
[tweet_box design=”default” float=”none”]A ton of leads are great, but only if they are ready and willing to buy.[/tweet_box]
Therefore, it is important that you weed out the “tire kickers” from those ready to open up their wallet.
How do you do that currently?
- 37% of B2B marketers are using marketing automation to generate leads. (Source: MarketingProfs)
Why is this important?
[tweet_box design=”default” float=”none”]Automation allows you to generate leads without you having to do anything and it works 24/7, 365 days a year. [/tweet_box]
Who wouldn’t want to use automation.
What do you mean by automation?
Utilizing email or email marketing to be more precise to do all of your sifting and sorting to determine who is a bonafide lead and who is not.
Be sure to take a look at this blog post on email marketing. It will give you some insight on how you can implement it to do the heavy lifting for you in regards to sifting and sorting. It is a quick read.
Recommended Reading: Email Marketing Tips For Customer Acquisition
Ready to move on?
Here’s more evidence from Marketo that conversion rates matter.
Oh, by the way I just answered the question – do b2b lead generation conversion rates matter?
These numbers from Marketo show you just that.
One more thing about these numbers is they are by customer acquisition channel.
They might surprise you. At least one of them will for sure.
First column is the customer acquisition channel and the second column is the conversion rate (lead to opportunity).
Sales Prospecting – 0.90%
Email – 0.55%
Inbound – 3.82%
Event – 1.48%
Paid Marketing – 2.98%
Webinar – 1.61%
Nurture – 0.58%
Referral – 10.99%
Partner – 4.54%
Social Media – 1.95%
So which one of the customer acquisition channels surprised you?
Did you say referral?
Well, then you’re absolutely correct my friend.
Why is referral so high?
It speaks volumes of how effective word of mouth marketing is today, even in the digital era.
What are your thoughts on that?
Does it make sense to you?
Word of mouth marketing is still one of the most effective means for customer acquisition today, even though we live in the internet age.
Be sure to read this blog post I wrote discussing this very same thing. It is definitely worth your time.
Recommended Reading: New Customer Acquisition By Word Of Mouth
Now are you convinced that b2b lead generation conversion rates matter?
You should be.
Numbers don’t lie. And judging by the numbers we have discussed today – oh they matter.
Do you have a customer acquisition process in place for your business?
Is that process working?
Is that process efficient?
Is that process cost-effective for your business?
If you could improve that process would you?
Do you need help in figuring out which parts of your process should stay or go?
If you’re answering “Yes” to all of these questions then my hats off to you. Business must be awesome!
Otherwise you and I should talk. Let’s see how I can get you to where you want to be.