B2B event lead generation is an essential component of event marketing. Many event business leaders and marketers allow their campaigns to be killed too early or dismiss future ones outright simply because “the leads the campaign is generating are crap”.
The goal here is to explain that on any normal lead generation campaign, around 66% of the leads generated will not be good or even relevant at all. So if only 33% of the total leads generated are good then you're not doing bad at all - you are well within the benchmark.
So what is deemed as a good or bad response from a lead generation campaign?
Here are the top take aways from the video with some good examples:
1. When you look at your website visits and the number of new contacts generated, you are looking at a rate of 1%-3% conversion rate as a general benchmarkExample: Your website generates 10,000 visits, you should be converting between
|100 leads||300 leads|
2. Only 1/3 of the leads that you will generate on any campaign are relevant or "good"
|33 good leads||100 good leads|
3. 2/3 of the leads that you will generate are not relevant (or what someone would call "crap")
|66 leads||200 leads|
So if the majority of your leads are not great, it is not necessarily the fact that your campaign is failing. You could well be within the benchmark, and you need to ensure you factor this in.
4. Good leads will need to be split further once they are passed to your sales teams or your client
|Using the same example, let's pick the mid-point for good leads
66 good leads of which:
|22 Sales Accepted (SQL)||22 Sales Opportunities||22 Are given back to marketing for nurturing|
With this example we can clearly see that out of a lead generation campaign that ultimately aims to drive sales for your business or your sponsor, you will need to place a tremendous amount of outreach, marketing effort and money to drive good proper leads.
It's part and parcel of the state of lead generation at the moment.
5. Here are some lead generation stats from the web worth a closer eye.
So what can we do with all this information?
If you know the benchmarks and expected results from your lead generation campaigns you will be in a very good place to assess:
- How long you need to run a lead generation campaign for
- What are the likely outcomes from your lead generation campaigns
- Set the right KPIs and work towards actual numbers - as they say begin with the end in mind
- Understand how much marketing effort and advertising spend you need
- If you will need some additional help, with sales follow up to enhance and validate the quality of the leads
Bear in mind, the quality of the content and the type of content (top, middle or bottom of the funnel) will have an influence on the conversion rates too.
Content marketing is a marathon not a race, so you will need to run various lead generation campaigns before you make a quick judgement on whether your campaigns work or not, or indeed whether your marketing partner works or not.