A popular way to do this is to calculate marketing costs as a percentage of sales. According to the Marketing Leadership Council, most B2B companies have a marketing budget that averages between 6 and 10 percent of gross sales. Manufacturing companies can be much smaller (between 2 and 6 percent), while aggressive and growth-oriented companies can spend much more (between 10 and 25 percent). While these numbers are just benchmarks, evaluating marketing costs as a percentage of sales is a valid top-down approach.
For example, The Online Advertising Guide's online CPL calculator allows you to determine your current cost per lead, while Jellop's target CPL calculator allows you to plan your target cost per lead based on the consumer's lifetime value, the conversion rate of leads to customers and target ROI. To try to get to the bottom of it, let's compare some lead generation statistics across different marketing channels, starting with social media. But is your lead generation budget competitive? Ahhh, well, this is a completely different question, and the answer may surprise you. These organizations typically conduct studies on their members to determine how much members spend on a variety of business functions, including marketing and generating leads.
Calculating ROI in marketing and lead generation is more difficult than it seems due to the complexity of the buying process (it's not as simple as some people like to think it is). If you're a B2B company, these are the most important lead generation statistics you should know. Companies looking for global leads must budget higher costs than those that focus on a small geographical area. The purpose of this statistic is to give your sales team a specific amount of cash to help them determine how much money to spend on acquiring leads.
On an average list of 100 names, lists of business leads typically cost between 15 and 40 cents, which is less than half of what it would cost to implement and create a marketing strategy. The amount you may have to spend on B2B leads depends on whether or not they are making complex sales (requiring a sales representative). The primary purpose of inbound lead generation strategies is to be found by qualified leads looking for answers. To help you rise to the challenge, we've gathered 33 important lead generation statistics to inform your strategy.
Therefore, it must constitute an efficient plan to keep those leads and turn them into loyal customers.