Lead generation is at the heart of every sales campaign. Whether you’re focusing on lead gen or demand generation, understanding data helps us make the correct decisions.
This article will look at statistics behind popular lead generation strategies. You’ll learn best practices, how to choose the right strategies, and the tools needed to succeed in lead gen.
- The importance of understanding lead generation statistics
- Lead generation statistics to look into this 2024
The Importance of Understanding Lead Generation Statistics
Statistics provide insights into what lead generation strategy works best. But just because a strategy worked out in a particular study doesn’t mean it would work for your business.
For example, a statistic might suggest that 32% of customers prefer X. However, the study might’ve been made in a completely different industry than yours.
Looking at statistics is one thing—understanding how it fits our needs is another. So, take these statistics with a grain of salt. Think of them as fundamental pieces you can build on.
Lead Generation Statistics
Here are the top lead generation statistics you should consider going into 2024. We’ll include where the data is from and how to apply it to your business.
Almost Half of the Marketing Budget Goes to Lead Generation
Don’t quite know how to divvy up your marketing budget? The 2020 CMO Survey results suggest businesses making less than 25 million in revenue spend 53% of their marketing budget on lead generation.
What does that 53% look like? Lead generation costs differ depending on the acquisition strategy used. Here’s a quick rundown of the average costs:
- Buying leads from sellers: $10-$100 per 10k leads
- Paid advertisements: $0.44 per click and $14.40 per impression on social media
- Google CPC: $2.59
- In-house marketing team: Salaried position ($90-$150k)
- Inbound marketing and content campaigns: $3K/month
Automation Can Help Generate 451% More Leads
The Annutias group conducted a study suggesting that marketers leveraging automation can generate 451% more leads. Several tools are available for lead generation automation.
You can choose from lead scraper tools, platforms like Apollo, or an automated lead capture page. But, no matter where you get leads from, they should always be verified, qualified, and enriched first.
Poor Lead Quality is a Major Concern Amongst Sales Reps
Statistics from DemandGen say that 44% of sales representatives complain about lead quality. Before adding leads to an outreach campaign, they should be verified first.
You’d need a lead generation, verification, qualification, and enrichment tool. For a more streamlined approach, try Instantly B2B Lead Finder.
Users gain access to over 160 million verified leads. Leads can be qualified if they fit your ICPs using the advanced search filters or client lookalikes.
And, with the new News Filter feature, you can enrich leads with relevant up-to-date information to create hyper-personalized outreach copy.
78% Of Marketers Believe Email Outreach Is Best For Lead Generation
Apsis published statistics suggesting that 78% of marketers choose email outreach as the best-performing lead-generation strategy. Here’s why email outreach is so effective for lead gen.
Email outreach is cost-effective, automated, and the easiest to scale. Once the technical set-ups are done, all that’s left is to scale with more sending accounts and leads.
97% of Prospects Ignore Cold Calls
There’s always been a debate on Cold Calls Vs. Cold Emails. However, according to a Zipwhip study, 97% of the participants reject phone calls from unknown businesses or numbers.
Cold calling isn’t dead. But the majority find it intrusive and disruptive. Instead, the sales call should be added further down your sales cadence when you’ve warmed up prospects.
Almost All Website Visitors Aren’t Ready to Purchase
Traffic doesn’t always translate to conversions. Marketo says that 96% of website visitors aren’t ready to purchase. Several factors affect our purchasing decisions.
Consumers want to make an informed decision first, emphasizing the importance of lead nurturing. Site visitors might not be ready to buy, but they show interest.
Ensure a dedicated and optimized lead capture page for interested leads. Segment these leads, run outreach campaigns, and start the nurturing process.
63% of Leads Take 3 Months to Convert
The journey from lead to customer takes time. Marketing Donut did a study suggesting that three months is the average time it takes for 63% of high buying-intent leads to convert.
The time it takes to convert can be significantly reduced with the proper nurturing strategies. Remember, prospects are likely taking their time evaluating your product against competitors.
Ensure you provide value at every stage of the purchasing journey through segmented, relevant, and quality content. Try to include social proof and consider unconsidered needs.
Most Medium and Large Companies Generate 5000 Leads Each Month
Hubspot’s demand marketing survey results say that most medium and large companies produce 5,000 qualified monthly or less. That’s enough to sustain and scale operations.
With Instantly’s Growth Plan, you can send 5,000 emails monthly. Paired with unlimited warmups, your outreach gets the highest deliverability rates.
When you're ready to scale outreach, you can jump to Hypergrowth to send 125,000 monthly emails.
Segmenting Leads Based on Position Results in 73% Higher Conversions
According to Aberdeen research, marketers who use buyer personas and segmentation generate 73% higher conversions. Those who don’t get an average of 12%.
Lead segmentation based on job position or demographic ensures you’re sending the right type of content for the people who need it most. Here are popular segmentation strategies to try:
- Segmenting based on email open rates
- Purchase history
- User satisfaction
- Geography
Content Marketing Is Best For Top-of-the-Funnel Leads
Content Marketing Institute (CMI) published a study suggesting that 54% of marketers say content marketing provides the most overall value for top-of-the-funnel leads.
Meanwhile, only 8% of marketers focus on content for “ready-to-buy” leads. Most would front-load content marketing for leads in the early stages of your sales funnel.
Sales reps would start using sales closing techniques for the middle and bottom stages. Here, the content is hyper-personalized, ensuring the USP hits a prospect’s unique needs.
Marketers Need Email Marketing, Analytics, Automation, and CRM Tools
The same CMI study revealed that most marketers use email marketing, marketing automation systems, and customer relationship management software to run successful sales campaigns.
Their data says that 84% use email marketing, 63% use automation, and 62% use CRM. Stacking these results in a hefty price tag, especially when using a monthly payment scheme.
You get all of that with Instantly. Users can create automated outreach sequences, monitor leads through the DealFlow CRM, and optimize campaigns based on real-time analytics.
60% of Marketing Leads Come From Outbound Marketing
Aberdeen’s marketing survey suggests that direct or outbound marketing campaigns, such as cold outreach, generate more leads than digital or inbound channels.
According to the data, on average, 60% of marketing leads come from outbound marketing. Meanwhile, 40% are from digital or inbound channels like content marketing or SEO.
74% of Marketers Say Videos Generate More Leads Than Blogs
Stop sleeping on sales video letters and interactive videos. Databox did a survey in which 74% of participants said videos generate more leads than any other form of content marketing.
Creating a video gives a human element to lead generation and outreach. It works well in cold emails, as well.
The email copy highlights the benefits and USP of your products; then, the video could expand and go in-depth.
You could also use video for testimonials on your website and lead capture forms and run a dedicated YouTube channel to educate prospects.
Podcasts Can Quickly Push Leads From Awareness to Consideration
Consumers want to make informed decisions before making a purchase. They do their own research, compare alternatives, and, of course, get insight from key opinion leaders.
These are where podcasts come in. CMI says 77% of marketers believe podcasts are the most effective medium for converting leads from the awareness stage to the consideration stage.
If you want a shot at being a guest in a high-authority podcast, you’d need to send an influencer outreach email.
Blogging’s Not Dead: Companies With Blogs Get 67% More Leads
Inbound marketing is still one of the most cost-effective ways to generate leads. Hubspot did a study suggesting that B2B companies with blogs generate 67% more leads than those without.
As a rule of thumb, ensure your blogs are optimized for SEO. Remember to focus on providing value to your audience first. SEO simply becomes the means to get your message across.
Key Takeaways
Lead generation is the lifeblood of any business. Understanding how lead generation statistics apply to your unique needs significantly improves the quality of your sales campaigns. Here’s a quick refresher on some key insights you might’ve missed:
- Most marketers believe email marketing is the best avenue for lead generation
- 63% of leads take at least 3 months to convert
- 60% of marketing leads come from outbound campaigns
- Segmentation results in 73% higher conversions
- Marketers need email marketing, analytics, automation, and CRM software
Lead generation is merely half the battle. Once you’ve built a list of qualified and verified leads, the next step is to reach out. When it comes to outreach, Instantly has you covered. Try it out today!