People often ask what the most important thing in marketing and one answer that some often forget is data. Today we explore important statistics when it comes to lead nurturing and marketing automation. You will find that the numbers don’t lie and it really helps to be in the know.
Let’s Talk About Leads
One thing that most marketers should never forget – read: not get discouraged with – are the numbers on lead generation. The first one is going to come as a shocker because you have to understand is that:
80 percent of your leads will not mean sales for you.
However, you are not the only one with this problem because according to Hubspot,
65% of businesses say that traffic generation and leads are their biggest challenge in marketing.
These two statistics just indicate how difficult it can be not only to generate leads but also to convert those leads into new business for your company. This is why it is important that your sales pipeline should always be dynamic in nature and optimized to nurture the leads that you already have.
Some researchers have stated that companies who know how to lead nurture generate more leads that are sales-ready at lower costs than those that do not know how to do so.
This leads us to lead nurturing.
The Importance of Lead Nurturing
Lead nurturing is extremely important, according to Acend2 48% of companies encounter complex sales processes with a long cycle involving many influencers.
You have to make sure that you are nurturing your leads well. In highly competitive industries, lead nurturing becomes a priority because if you do not pick up in the game, a lot of competitors will be more than willing to do so for you.
The statistics get worse when companies are asked about their lead nurturing attribution model. It turns out that
More than 34% of companies do not even have a model to attribute their marketing performance to.
In order for you to be an effective marketer, you need to be able to have a good feedback system and this really starts with having the proper model in place.
We do not have to emphasize how important lead nurturing is but also look at this interesting statistic from Demand Gen:
Only 29% of business brands will nurture their customers after the first purchase.
Did you know that it costs more resources to take on a new customer than to sell to an existing one? With this being said, it is important that we do not forget about our previous clients, too. Lead nurturing has to involve prospects, clientele, and current customers.
What About Marketing Automation?
Marketing automation is continuing to grow in adoption rates across multiple industries from B2B to B2C and it is no surprise that Emailmonday has stated that:
On average 51% of companies are currently using Marketing automation. With more than half of B2B companies (58%) plan to adopt the technology.
The infrastructure is already in place with the automation software industry in the United States already at $3.3 billion in 2017 alone and expected to rise by roughly a third yearly.
Marketing automation is extremely important because it makes normal marketing tasks easier for people. Think about the simple example of having to customize the first names of a general email for an email list, marketing automation makes this easier.
You save resources, simplify the process, and create a system that isn’t subject to too many flaws.
If you ask marketers if they use marketing automation tools, you’ll find that more than three-quarters of them already do so. However, this number is expected to grow.
However, the issue is not even adoption or awareness, sometimes it is just the organizations themselves.
56% of marketers think that the industry is growing faster than their own companies’ usage.
This definitely signals are a harsh disconnect for the people who really need to be fully utilizing the benefits of the software.
However, there is no denying the benefits of automation if you were to ask us. In fact, top agencies report that the objective of marketing automation is increasing the ROI, acquiring more customers and measuring performance.
The aim of marketing automation is not to allow your business to survive, but rather thrive with the benefits of increased efficiencies and effective automatic protocols in place.
These statistics help explain the value of proper lead nurturing and marketing automation that is executed well. As you can see, properly strategized techniques can help drive your business for growth and prepare your pipelines for success.
So where does your business stand today? Are you fully utilizing lead nurturing and marketing automation tactics? Be part of the better statistics.