Demand generation is a discipline that is constantly evolving. Buyer behavior, technological advances, and the emergence of new platforms and avenues for meaningful customer connections keep the demand marketer in an everlasting state of strategical flux.
One of the best ways to get a view of the current state of demand generation is to pay close attention to data regarding trends and insights from the industry at large. Smart demand marketers rely on data to guide their strategies and focus their efforts.Here are 13 demand generation statistics every demand marketer should know.
Fascinating Demand Generation Statistics
1. 50% of the average marketing database is useless, largely because of duplicate records (Justin Gray, CEO @ LeadMD).
Marketo Consultant Gray estimates that 50 percent of marketing database content is useless, a finding supported by Integrate's discovery that 33 percent of contacts in marketing databases are duplicates. Records that don't represent real opportunities can cost firms between tens and hundred of thousands of dollars each year to support bloated database usage. While demand generation budgets are rising at many firms, lead data validation technologies can divert these dollars away from databases to other demand generation tactics.
2. Converting leads to customers is the top marketing priority for 70 percent of organizations in 2017 (HubSpot, State of Inbound)
Success for many demand marketers is no longer defined by the quantity of leads generated. For many B2B teams, success measures are now defined by lead-to-customer conversion rates or other full-funnel metrics. Increasingly, marketers are responsible for supporting the customer's entire journey through tighter alignment with their organization's sales and customer success teams.
3. Only 56% of B2B organizations verify leads before they’re passed to sales (Marketing Sherpa).
Low-quality leads can be a source of conflict between B2B marketing and sales teams. Disparate leads sources at the top-of-the-funnel can also be a leading cause of “spreadsheet hell,” or time-consuming manual lead entry into the customer relationship management (CRM) database. Thanks goodness, there are data quality solutions that enable marketers to verify lead data before it is injected into core marketing and sales systems.
4. B2B marketing teams often spend upwards of 40 hours a month formatting and processing leads for database upload. (Integrate, The Cost of a Bad Lead).
Time spent manually formatting leads takes away from strategic initiatives, such as optimization or helping sales close customers. It can also detract from an organization's ability to follow-up with leads in a timely manner, leading to revenue risks. When armed with integrated demand marketing tools that enhance lead data attributes and standardize data for entry, demand marketers can gain significant efficiencies.
For more data regarding how bad leads are affecting b2b organization, you can grab the full Cost of a Bad Lead Report here.
5. 54%of B2B marketers measure success via revenue-based quotas, while 45% measure success through lead-based quotas (NetLine).
While lead generation matters, it’s not the only success metric that matters in a demand marketing program. The latest survey from NetLine supports the fact demand generation is on its way to becoming B2B revenue marketing.
6. 79% of B2B marketers credit email as the most effective distribution channel (Content Marketing Institute).
While email still works, marketers have to be careful to avoid overwhelming their own databases with announcements of new content. Many B2B marketers work with third-party publishers and diverse media partners to syndicate content, providing significant reach into new audiences.
7. In the past 12 months, only 2% of B2B organizations implemented awareness-oriented ToFu content strategies. (NetLine)
This industry survey is likely not representative of all B2B organizations engaged with demand generation strategies, but the sample size sufficiently highlights the fact there’s a huge opportunity for companies who implement awareness demand generation initiatives. If 98% of B2B organizations are focused mainly on the middle of the funnel (MOFU), it means those potential customers entering into the awareness stage of the buyer journey experience less noise at the top of the funnel (TOFU).
B2B organizations who work more TOFU content marketing into their demand generation strategies have an opportunity to stand out from the crowd before the customer is even aware of competitors. The challenge lies in executing top-funnel demand gen programs at scale, while leveraging lower-funnel performance metrics for increased impact. Marketers who successfully nail this holistic strategy are driving big wins for their organizations.
8. The average timespan between the moment a person requests your content and the moment your content is opened by the person is 38 hours (NetLine).
Understanding how your organization’s new leads engage with your content assets, via email and web metrics, can provide key insights into effective lead nurturing. However, rapid contact is crucial. Research by Lead Response Management reveals that the odds of contacting a lead decrease ten-fold after the first hour. Leading B2B marketers are implementing lead routing software to get leads into nurture tracks and sales follow-up queues instantly and avoid missed opportuities.
9. 64% of B2B marketers generate leads via LinkedIn, 49% via Facebook and 36% via Twitter (Pinpoint Market Research).
When it comes to B2B social marketing, some things never change. While Facebook and Twitter are still effective lead generation channels, LinkedIn reigns supreme for B2B lead generation.
10. The most effective lead nurturing programs result in a 50% increase in sales-ready leads and 33% lower costs (Forrester Research).
Utilizing marketing automation platform (MAP) technologies to automate lead nurturing can generate massive gains in operational efficiency for B2B organizations, as well as superior sales results. However, mid-funnel tactics like lead nurturing are not the only marketing activities that can, or should, be automated. Leading demand marketing organizations are taking a full-funnel approach to marketing automation.
11. Businesses with 401-1000 website pages get 600% more leads than those with 51-100 pages (Hubspot).
Quality content generates demand for your product, services, brand, or industry. Creating more quality content (like blog posts, articles, long-form content offers and landing pages) can increase your brand’s authority and visibility in organic search.
12. Account-Based Marketing (ABM) campaigns increased by 225% in the past 12 months. (NetLine)
Account-based marketing is a subset of demand generation that’s driving success for many B2B organizations. This strategy concentrates demand generation resources on a specific, pre-defined set of client targets within a vertical. Per Altera Group research, ABM tactics are driving superior ROI for 97 percent of demand marketers.
13. Improving the ability to measure and analyze marketing impact was a top demand generation priority for 61% of organizations in 2017 (Demand Gen Report).
Demand generation without visibility into program performance rarely yields the continual improvements B2B marketers need to exceed performance targets. With smarter technologies for demand orchestration and full-funnel measurement, B2B marketing teams can meet their goals by understanding impact more clearly.
Looking Forward to Demand Generation in 2018
As B2B marketers consider their strategies in the quarters and year to come, a few key trends from these demand generation stats stand out. Quality lead generation remains a challenge for B2B marketers at every stage of demand generation adoption, which may be driving the movement towards more account-based marketing tactics. Technology is key to success, from effective lead nurturing to sales-marketing collaboration to full-funnel automation. B2B marketing success is no longer measured in leads generated, but in interest generated and opportunities won.
Eager to benchmark your organization against best-of-class B2B Demand Marketers? Check out the free Integrate resource, The "B2B Demand Marketing Assessment Guide & Orchestration Workbook" which includes 12 customizable worksheets that you can use to evaluatve your demand generation foundation.