The ultimate goal of B2B marketing is, of course, to close a sale. But that is no easy task, since many B2B companies sell products and services that may be complex and have a long sales cycle.
Interestingly, when all marketing methods are considered, the most effective in terms of converting leads to sales is referrals from customers and employees. Recent research by Implisit reported by eMarketer indicates that 3.63% of referrals resulted in sales, which were directly traced via the use of Salesforce.com among nearly 500 B2B companies. Company websites were in second place in lead-t0-sale conversion (1.55%) while Facebook, Twitter, and other social media came in third (1.47%). No other method reached 1% in the study.
In terms of active engagement of prospects, almost 25% of leads generated through customer/employee referrals resulted in an "opportunity," or a prospect who was engaged in an active sales process. The active engagement rate for websites was 31.3%.
It is clear that B2B marketing, in contrast to consumer marketing, involves an often lengthy cultivation and qualification process. In the study, for example, it took 84 days to convert 13% of leads to opportunities. B2B marketers therefore need to see lead generation, qualification, and conversion as a long-term process and should use a variety of techniques for engagement.
If you're a B2B marketer, you need to read the new 123 eGuide, B2B Marketing 123. It presents a 3 step approach for marketing to businesses that is grounded in timeless principles but recognizes and takes advantage of the brand new marketing world we live in. Purchase B2B Marketing 123 today for just $2.99 at the Amazon Kindle store or in any eBook format, including PDF, at Smashwords.com. This title is also be available wherever eBooks are sold.
Comments