According to Software Advice's 2014 Marketing Automation Buyer Report, 85% of manufacturers cited the need to nurture leads due to a relatively long sales cycle associated with their product.
In fact, Sirius Decisions reports that the average sales cycle has increased 22% in the last five years due to more decision makers being involved in the process. Lead nurturing is essential for industries with long buying cycles (like manufacturing). B2B companies should be making consistent contact with prospects at all stages of the buying cycle to receive all of the awesome benefits of lead nurturing.
Without further ado, we present the statistics:
- MarketingSherpa states that 65% of B2B marketers have NOT established lead nurturing.
- But, according to the Annuitas Group,
- businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads and
- nurtured leads make 47% larger purchases than non-nurtured leads.
- Gleanster reports that using lead nurturing showed that 15-20% of the "not yet ready to purchase" opportunities converted into sales.
- According to Eloqua, Taleo Corporation saw these benefits from lead nurturing:
- increased the number of opportunities entering the pipeline by 118%
- nearly eliminated "unrated" leads from their database
- improved conversion rates at every stage of the funnel
- saw an additional 30% of visitors convert to marketing qualified leads
- 6 out of 10 survey respondents who use marketing automation say it has increased the quantity AND quality of the leads that get passed to sales. Lenskold Group & Pedowitz Group
- Lead nurturing emails get 4-10 times the response rate compared to standalone email blasts. DemandGen Report
- According to Forrester Research, companies that excel at lead nurturing generate 50% more sales leads at 33% lower cost per lead. DemandGen Report
- Triggered emails have a click-through rate 152% higher than traditional emails. Email Monks
- Nurtured leads experience a 23% shorter sales cycle. Market2Lead
- Bulldog Solutions reports companies that invest in marketing automation solutions see:
- 70% faster sales cycle times and
- 54% improvement in quota achievement
- According to Gartner Research, lead nurturing can:
- potentially save 80% of your direct mail budget
- bring a 10% or greater increase in revenue over 6-9 months
- Marketing automation users report three times more leads passed to sales after one month. Marketo
- Pedowitz's clients who use marketing automation report a 2-3x lift in conversion rates on raw leads to qualified opportunities. Marketo
- ShipServ saw a 225% increase in the volume of prospects that converted to sales opportunities. Marketo
- Companies that use marketing automation see 53% higher conversion rates and an annualized revenue growth rate 3.1% higher than non-users. Aberdeen Group
- Gleanster reports that 74% of top-performing companies use automated lead nurturing.
- 96% of B2B marketers say segmentation is the most valuable method for improving conversion rates. Econsultancy
- 79% of top-performing companies have been using marketing automation for more than two years. Gleanster
- A study by CSO Insights showed that 89% of companies that aligned sales and marketing lead generation efforts reported measurable increases as a result of continuous nurturing.
- Marketing automation drives a 14.5% increase in sales productivity and a 12.2% reduction in marketing overhead. Nucleus Research
- When asked to identify their primary revenue contribution drivers, the vast majority of marketers picked marketing automation systems (78%) and lead scoring based on content & engagement (68%). Lenskold and Pedowitz
Lead nurturing is essential for all businesses that wish to drive higher profits and ROI. We expect to update this list frequently as more and more companies implement marketing automation & lead nurturing workflows and report their successes.
Want to be one of the success stories? You can get started with this guide to email automation with MailChimp: