Lead Nurturing Statistics (2023 Report)

Lead nurturing is one of the most important functions of sales and marketing, and yet it somehow often gets overlooked. Lead nurturing is the process of engaging your prospects by providing them the suitable content at every stage of your sales funnel to develop and reinforce relationships with them through effective communication. It’s a good idea to constantly check to ensure that your lead nurturing best practices are in place and that they are working so that no leads get lost. 

Here are some vital lead nurturing stats that can help grow and expand your business and deliver good returns. 

Lead Nurturing Statistics Highlights

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1. Lead nurturing helps companies generate 50% more sales-ready leads at 33% lower costs.
2. Almost 80% of new leads do not result in a sale.
3. Nurtured leads make 47% larger purchases than non-nurtured leads.
4. 96% of visitors who visit your website aren’t ready to buy.
5. 56% of B2B companies do lead validation before passing the lead to the sales department.
6. 65% of businesses say generating traffic and leads is their biggest marketing challenge.

Lead Nurturing – Key Statistics

Lead nurturing helps companies generate 50% more sales-ready leads at 33% lower costs.

Inbound marketing helps nurture leads across multiple channels. Leads are generally not ready to commit to a purchase when generated; marketers can use different channels to provide leads with the required information and push them toward a sale. Lead nurturing has several benefits, including a nearly 50% higher value of orders than non-nurtured leads. So, it’s not just about the momentary advantage but long-term success.

Almost 80% of new leads do not result in a sale.

The goal of lead generation is to sell something eventually. According to multiple leads nurturing statistics in 2022, the problem is that most leads aren’t even ready to buy. Therefore, one should think long-term and attempt to market to them on a timely basis, about every 4 to 6 months. Thankfully, lead nurturing can better translate a prospect into a sale by using different tactics. 

The key here is to develop patience and persistence. If you plan to invest enough time pursuing them, try to be consistent and show your leads respect, and you can potentially win them over.

Nurtured leads make 47% larger purchases than non-nurtured leads

Any sales pitch works well, and the relationship between the brand and consumer improves. Lead nurturing trends show nurtured leads make more purchases and buy bigger, too. Why does this happen? It’s simple. Consumers trust you more. They start liking the company and what it provides and are ready to commit to more things.

A marketing campaign focused on engaging and educating your prospective customers can help generate more sales and more significant sales. In fact, nurtured leads make 47% larger purchases.

96% of visitors who visit your website aren’t ready to buy.

Taking a customer from a lead to a genuine conversion is what nurturing is all about. It would be best if you spent some time courting your consumers before they’re ready to make a purchase. More and more companies are beginning to understand this. You need to know how to nurture leads if you want to turn these visitors into prospective customers before they bounce. With the help of nurture programs, marketers can create personalized journeys that reach buyers at the right time in the buying cycle and increase customer engagement. 

56% of B2B companies do lead validation before passing the lead to the sales department.

When it comes to B2B lead generation, you have to validate leads to avoid overestimating the success of your marketing campaign. To begin with, you should qualify what a good lead looks like for your company. For example, non-sales leads include spam form submissions and spam phone calls, customer service communication, and phone misdials.

In contrast, valid leads result in a genuine interest in your company and an intent to buy. You can rely on tools like Google Analytics to get a clear picture of which companies want to do business with you.

65% of businesses say generating traffic and leads is their biggest marketing challenge.

Merely finding new leads can be a big challenge, let alone leading a full-blown nurture campaign. It is all about identifying the specific needs of your audience and tailoring them with the content of their concern. To increase traffic to your site, try paying more attention to on-page SEO and have a strong social media presence. A good word about your site will easily spread when you have a large following.

Other Lead Nurturing Stats

• 79% of marketing leads never convert into sales, usually due to a lack of lead nurturing.
• 65% of businesses consider getting traffic and lead generation as their biggest marketing challenge.
• Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.
•  48% of businesses say most of their leads require a long cycle of nurturing.
• 66% of marketers use marketing automation for lead nurturing.
• Lead nurturing emails get 4-10 more responses than standalone email blasts.

Conclusion

Lead nurturing is a part of the sales and marketing process that no business can afford to overlook in this day and age of intense competition and demanding customers. This lead nurturing statistic shows that more brands need to invest time in keeping their existing customers happy. After all, they are usually the most significant source of steady revenue for a company. Among the multiple strategies for lead nurturing, you need to find the one that suits you and then execute it smartly, possibly with some help from automation.

In the end, it all comes down to how you think about and plan to approach your insurance leads in the long run.

Sources

https://www.invespcro.com/blog/lead-nurturing

https://www.smallbizgenius.net/by-the-numbers/lead-nurturing-statistics/

https://99firms.com/blog/lead-nurturing-statistics/

https://www.crmnext.com/resource/learning-center/lead-nurturing-statistics