Lead Generation Companies: Stats to Keep an Eye On in 2023
Lead generation companies as a marketing tool become increasingly sophisticated every year. There are bound to be further shifts in the way marketers go about getting leads, so it’s vital to stay on top of every new trend. To help you stay on top of the latest in the B2B industry, we’ve compiled a number of the most crucial, up to date statistics that can keep you up to speed. The landscape of B2B marketing is forever changing- but what does it look like today?
22% of Marketers in the B2B Industry Have a Weekly Lead Nurturing Process
Calling up your prospects is far from the only way to generate leads. You should also be sending out frequent (but not too frequent) emails to those prospects. A study from Marketing Sherpa suggested that over a quarter of B2B marketers are reaching out to their prospects weekly.
Lead Generation Companies: Social Media Marketing is Cost Effective for Nurturing Leads
When it comes to building a relationship with and nurturing your leads, social media is one of the most cost effective ways to do so. According to Hootsuite, most of the time consumers spend online is taken up by various social media platforms (even Twitter, if not for very long).
Consumers that range from ages 16 through 64 are spending, on average, 2.25 hours of their day on social media. And for many, that might even seem moderate. For B2B marketers, social media is an ideal way to continually interact with prospective customers. It also allows those prospects to interact with you, and your brand.
Half of All Leads Won’t be Ready to Buy
According to Marketo, an average of 50% of total leads will not be ready to actually convert, and 80% of new leads will not ever actually make any purchases. This just goes to show that the only way to consistently bring in new B2B business is by building a long term relationship. Leads that you’re willing to nurture are far more likely to eventually convert.
The Most Common Challenges Faced by Lead Generation Companies
There are a number of challenges currently facing lead generation companies, which can often feel like a hard hurdle to clear when it comes to garnering actual conversions. According to LeadG2, just 43% of lead generation companies were accumulating leads of actual value, and only 35% were generating what they considered to be a proportionate number of leads. 25% of companies deemed their resources insufficient, 21% were converting their leads, and, perhaps most surprisingly, only 19% of companies were generating leads at all.
The Cost of Acquiring Clients is Growing
One thing lead generation companies have recently been noticing is that the cost of acquiring clients is growing. It’s more important than ever not to waste time focusing on leads that will ultimately not convert.
According to Linchpin SEO, leads for the tourism and travel sector had an average cost of $106 in 2021. The tradeshow and events industry was projected to hit $811.
Lead Generation Companies: Most Marketers Spend Over Half Their Budget on Leads
According to BrightTALK, just 34% of marketers are spending less than half of their budget on lead generation. For the majority of businesses, it’s a key objective. That can include outbound calls, paid advertising, or any other lead generation activity.
Ryan Whyte is a Director of The Lead Generation Company where he leads a team of B2B telemarketers to deliver high-quality leads for clients. With a strong background in campaign management and a focus on driving results, Ryan is dedicated to optimising strategies that maximise client success in B2B lead generation.
