Lead Nurturing Statistics 2023 Facts, Trends, Funnel And Tips
WHAT WE HAVE ON THIS PAGE
- 1 What Is Lead Nurturing?
- 2 Advantages Of Lead Nurturing
- 3 What Is The Process Of Lead Nurturing?
- 4 Key Lead Nurturing Statistics
- 5 General Lead Generation Statistics
- 6 Leads Nurturing From The View Of The Sales Department
- 7 Automation In Terms Of Marketing
- 8 By Means Of Email Marketing
- 9 By Means Of Social Media
- 10 Management Of Leads
- 11 Summary
- 12 Conclusion
Lead Nurturing Statistics: Today, in the world of cutthroat competition when sales teams are striving hard to attract leads to the company, initially, it is necessary to nurture them. Earning trust between the company and the customer is a way to increase the rate of converting such leads into sales. Lead nurturing can be done with the help of social media, phone calls, or even emails. Offline advertising media such as television, newspapers, magazines, etc are also useful while nurturing the lead. Lead nurturing is important because it can continuously gain more customers and improve the quality of the business as per the expectations of the customer. Once the customer is assured that his/her wishes are being fulfilled by the company they are going to be converted to qualified leads. But competition is tough therefore analysis of the market through lead nurturing strategies is necessary.
What Is Lead Nurturing?
(Source: Oracle)
Lead nurturing can be defined as capturing potential customers in the market and turning them into successful leads. In simple words, those customers in the market who are not ready to purchase anytime soon. These prospects are very important to the company, as, in the meantime, they can go to another business who are selling the same product/ service. Rather taking care of such leads can be beneficial as they make turn their mind to the buying process. Promotional campaigns, educational campaigns, or welcome campaigns are examples of lead nurturing.
Advantages Of Lead Nurturing
(Source: NotifyVisitors)
- Lead nurturing can increase actual sales in the future
- Helps in understanding the market and it is needs
- Improves the company’s business quality
- Helps in beating the competition
- It can attract new leads
- New leads mean increased workload, therefore it improves the employment rate
What Is The Process Of Lead Nurturing?
(Source: Oracle)
- Recognizing the consumer is the initial process in nurturing the lead. As the prospect did not buy through the expected company, the company shall perform research on such customers to know where the company is lacking.
- Once the identification is done to understand the buyer, a further step is to shine with what the customer is expecting. Such moves can be completed using campaigns, calls, or simple updates on social media networks. According to the studies, informing expected changes can bring 50% positive leads to the company.
- The next step that can improve lead nurturing is understanding the customer’s problems by means of thinking from their perspective. As requirements change according to the market, therefore before approaching any buyer, understand his need and sell accordingly.
- Planning is the most important thing in the overall process. When things are planned according to the market leads it may lead to immediate profits. For example, some people understand no social media functions like old age people them, so providing lead nurturing services over the call is the best option. Therefore pre-planning of communication channels for Ad campaigns is important.
- Automating processes to some extent is better as technology understands the market results faster than any human being. Automating messages can be attractive to customers in the market.
Key Lead Nurturing Statistics
(Source: ParkerWhite)
Lead nurturing has the utmost importance in the sales and marketing department. As these two are the departments, by means by which new customers are attracted. Lead nurturing can be conducted by any means as far as it reaches the customer. Appropriate channels could be email marketing, blogs, articles, or cold calling. The following statistics have come to light after the studies were performed.
- As of 2023, companies generated 50% more sales-ready and lower-cost leads by 33% with the help of effective lead nurturing.
- New leads by 80% don’t result beneficial in sales due to a lack of lead nurturing.
- Whereas, 47% larger purchases are made by nurtured leads than businesses without nurtured leads.
- Before passing the leads to the sales department around 56% of B2B companies do proper nurtured lead validation.
- This allows for generating leads and traffic suggested by 65% of businesses.
- Visitors by 96% aren’t ready to buy products from the websites they visit.
- Marketing automation for lead nurturing was claimed by 66% of marketers.
- 65% of marketers are not nurturing and only 3% of the markets are actively buying products in 2023.
- Email marketing is termed as the most effective lead nurturing tactic believed by 47% of marketers.
- Lead nurturing helps in enhancing qualified leads by 451% in marketing automation.
General Lead Generation Statistics
- According to HubSpot, companies that have landing pages within the range of 31 to 40 earn more leads than businesses within the range of 1 to 5 landing pages.
- 48% of the landing page includes various offers
- Businesses with more than 40 landing pages have 12x more leads, states Hubspot
- As per the records from MarketingSherpa, companies build new landing pages for every new marketing campaign.
- Companies using event-triggered marketing can save up to 80% of the direct mail budget.
- According to Hubspot, businesses with a minimum of 30 landing pages get 7 times more leads.
- Furthermore, Hubspot states that big corporations create leads from SEO resulting in 12% which has a share of 9% of the total budget.
- On the other hand, traditional marketing helps to earn leads up to 11% share up to 15% of the total budget.
- In 2023, monthly basis, blogging more than 11 times allows in generating more leads by 4 times more than with 4 to 5 times.
- For transferring leads into paying customers almost 10 lead-nurturing steps are essential.
- LinkedIn is the social media platform in which more than 80% of B2B leads are generated.
- On the other hand, Instagram is currently used by more than 500 million people on a regular basis.
- Lead nurturing helps hybrid estate agencies to generate or achieve above 30% industry conversion.
- As of 2023, almost 98% of B2B leads are not effectively convertible.
- Generating high-quality leads is an effective factor for 74% of marketers.
- Lack of a lead nurturing process and guidelines reported by 30%of marketers.
- One of the leading obstacles is lead nurturing timing believed by 16% of B2B marketers.
- DemandGen report claims when leads are nurtured there is an overall increase in sales of up to 20% compared to non-nurtured leads
- Only 56% of the companies validate and verify the leads before they have been transferred to the sales department
- According to MarketingSherpa, 65% of the companies have never started any lead nurturing processes.
- According to the studies by Gleanster research unto 25% are only legal leads.
- There are leads who are qualified but not confirmed to purchase the products/services resulting in a 50%
Leads Nurturing From The View Of The Sales Department
(Source: ParkerWhite)
Sale being a crucial process in the company, needs to be handled well as it requires a great amount of talent to persuade the people. Lead nurturing becomes an important feature while handling sales activity. The following numbers state the reality of lead nurturing in sales.
- Sirius’s decisions state that the number of average sales is increased resulting in 22% from the past 5 years. This gives an opportunity to associate the lead nurturing with stakeholders.
- In terms of B2B marketing, 61% of marketers forward leads to the sales department directly. On the other hand, only 27% of the leads will be qualified for further process.
- According to Market Sherpa, 79% of the leads are never converted to sales.
- Corporations that have daily practices of lead nurturing are able to achieve 9.3% of the total sales.
- Forrester Research states that lead nurturing can generate more sales at a lower cost resulting in 50% and 33% respectively
- As per the research from inside sales, around 35% to 50% of sales
Automation In Terms Of Marketing
(Source: ParkerWhite)
Today, automation in companies is helping to ease all business processes. Automation can be done in any kind of business as well as any kind of process. Automation is time-saving. It can improve the results, therefore, increasing productivity and profit with a higher efficiency level. It has the ability to reduce man-made errors. Today, companies are looking forward to automating even the lead nurturing process.
- In the year 2023, it had been forecasted that business processes would adapt to automation on a large basis resulting in 92%
- Companies that have included automation in lead nurturing have been experiencing 80% growth in sales the approved limit of76%
- According to The annuities group, businesses that include automation in their lead nurturing processes, have proved that there is a 451% increase in the total of qualified leads.
- Automation in marketing processes has the ability to increase the prospective buyer into a sale resulting in 250% of the opportunity.
- Focus research states that automating the marketing process has made 81% of companies close sales deals faster than expected.
- Moreover, in the last five years, marketing has seen tremendous growth in its process including CRM up to 81%
- As sales have only qualified leads, lead nurturing takes care of those leads who are not yet qualified.
- Around 59% of Chief marketing officers around the world are ready to invest in automated marketing procedures in order to increase effectiveness.
- Forrester Research states that there are only 5% of marketers are using cent percent of developed and automated marketing solutions.
By Means Of Email Marketing
(Source: ParkerWhite)
Email marketing is one of the most powerful and effective tools around the world. Marketing companies can conduct Ad campaigns, perform promotional activities or simply get in touch with the customer via email marketing. Emailers which are effective ways of communication, most of the time include infographics. Since digital marketing boomed in the current era, it paved the way for email marketing more efficiently. The following statistics in terms of lead nurturing using email marketing have been studied by different companies.
- According to Hubspot, when emails with promotional messages are sent at 6 am it receives a maximum clickthrough rate of an hour.
- Furthermore, Hubspot states that, when a newly added subscriber of the newsletter receives an email, he is more likely to open the email than those old subscribers
- As of 2023, email automation in marketing is preferred by 72% of B2B marketers and is termed an effective strategy.
- Daily, 99% of users of email check their inboxes, and some log in more than 20 times.
- In the case of lead nurturing, email is the best online channel converting 78% of leads in 2023.
- Email is also considered an effective platform for demand generation by 79% of B2B marketers.
- After the evolution of smartphones, Hubspot added that 80.8% of the audiences prefer to read emails on mobile phones.
- When emails are sent personalized and relevant then it drives more revenue up to 18 times than those broadcasting emails.
- Lead nurturing emailers have a higher response rate than those standalone emails.
By Means Of Social Media
(Source: ParkerWhite)
Unlike those older times when social media networks such as Instagram, Facebook, and WhatsApp were merely used for social purposes, today companies and individuals are using Them to earn money, reach more markets, and spread brand awareness. Digital marketing is helping social media networking sites to improvise their features so that they can have international access. The following data shows the numbers received from the study
- As of 2023, weekly 6 hours of social media marketing efforts help in gaining high-quality leads said by 66% of marketers.
- Lead nurturing stats by social media marketing are followed by 70% increased brand awareness, enhanced sales and lead generation (59%), increased community engagement (48%), growth in my brand’s audience (46%), and increased web (45%).
- Lead nurturing emails get up to 10 times more response rate as compared with standalone email blasts.
- In the world of digital marketing top, three sources to gain leads are SEO, Email marketing, and Social media resulting in 14%, 13%, and 12% respectively.
- Today, companies are allocating around 7.6% of their budget to social media networking.
- Considering the leads earned from social media marketing it is counted up to 51% for the top 20% of B2B marketers. Whereas, other industries are only up to 39%.
- 84% of the companies are using social media networking to advertise, promote, and widespread to the international markets.
Management Of Leads
(Source: ParkerWhite)
When it comes to managing the audience whether they are already customers or just prospective customers, it is necessary to manage the data on a daily basis. As the market is highly competitive, on any day or month the customer can go to another competitor as being offered better services.
- MarketingSherpa states that companies are gaining more leads with a lead nurturing strategy resulting in an increase of up to 9.3% on a daily basis.
- When it comes to B2B organizations, they tend to earn leads by lead nurturing with 2% on an annual basis.
- Around 46% of the companies with qualified lead management processes are keeping an eye on the sales team so the number increased to 75%.
- There are corporations with a 15% gain leads by lead nurturing strategy on a quarterly basis.
Summary
Automation in the marketing industry is gaining day by day. Gaining leads every day is important for any kind of business. By means of a lead nurturing strategy, it is important to manage the audience’s preferences to turn them into qualified leads. The number in the report shows that companies are slowly valuing lead nurturing in their daily businesses. It can be assumed that by the year 2025, people will compulsorily include the lead nurturing process in the companies to gain more customer trust.
Conclusion
In today’s world of technology companies are moving towards digital marketing. Digital marketing provides many options to handle the business easily. Unlike the old days when companies had to attract more employees just to perform cold calling with no results, today it is possible with the help of lead nurturing strategy and automation. Lead nurturing and automation combined together can create many great results as automation can predict the market needs perfectly. As seen in the report, there is a very small number of companies who are following lead nurturing, but as the technology improves, more companies will adopt such a strategy.
Shivanjali, a Digital Marketing Expert, regularly contributes to various industry-specific magazines. She is interested in tech statistics, SMO, and raising awareness about technical how-to guides. She can often be found exploring different places on weekends.
