Perspective on the B2B Demand Generation Benchmark Survey Report
Last October, KoMarketing Associates announced the launch of research consultancy Software Advice’s B2B Demand Generation Benchmark Survey. Software Advice’s Managing Editor Ashley Verrill shared some of the charts and information highlighting results of the survey.
In a poll of 155 primarily C-level marketing experts, social media received the largest percentage of votes for demand generation channels that marketers will spend more on in 2013. Despite scoring low for quantity and quality leads, more than 50 percent of those polled said they will make Facebook, Twitter, and Linkedin a priority in 2013.
While it is clear that business-to-business marketers will throw more weight behind social channels, the B2B Demand Generation Benchmark Survey illustrated the range in tactics and channels B2B marketers use for lead generation initiatives. This post looks a bit deeper at some of the supporting charts and information realized based on survey responses.
Spending Changes by Channel in 2013
Lowest Cost Per Lead Channels
The reason for this increase in spend and focus on social media appears to be the the fact that this channel potentially offers the lowest cost per lead, according to those polled. Check out the following chart for further information.
It would be interesting to know what factors B2B marketers look at when determining the cost per lead for social media (as well as SEO), since labor costs outside of contracting vendors often do not come into play. As B2B marketers invest more in social media this year (either through direct budget dollars or time commitments), we’ll learn more about lead quality, quantity, and the tie-ins to other B2B marketing channels and tactics.
Most Used Channels
This chart ranks each channel from most to least popular. Recent studies from sources such as eMarketer and BtoB Magazine support this observation, in particular as it relates to SEO and social media as top B2B marketing channels for lead generation.
This information gets more interesting as the survey delves into the specific effectiveness of lead generation initiatives, and how lead opportunities are realized.
Highest Quantity and Quality of Leads Channels
One of the most important sections of the survey is the comparison of B2B marketing channels leading to a higher quantity of leads versus a higher quality of leads. While developing both high quality and a high quantity of leads is a priority for B2B marketers, the difference in results (or result types) by channel is worth further review.
Some of the key takeaways of the two charts below:
- In-house email marketing is the best channel for generating high quality leads and third best for quantity. B2B SEO and social media efforts should at least focus a percentage of efforts toward building the list for that channel. More information on this topic can be found in this article from Search Engine Watch.
- Four of the top 10 tactics for generating high quality leads are more traditional (non-digital). This reflects the importance of an integrated marketing strategy and connecting initiatives in social media, SEO, and even search and social advertising to better impact results realized at events, trade shows, etc.
- We were surprised to see the significance in telemarketing and cold calling. It would be interesting to see how the development of brand awareness (via organic search and social media marketing) could further impact the effectiveness of this tactic long-term.
B2B Marketing Channels Ranked by Quantity of Leads Provided
B2B Marketing Channels Ranked by Quality of Leads Provided
Highest Quantity and Quality of Lead Content or Offers
Software Advice also asked marketers whether they would describe each content offer as producing a high, medium, or low quantity and quality of leads. As B2B marketers think about developing content marketing campaigns and how visitor conversion benchmarks will be met in 2013, these types of content offers are worth referencing.
Content Offers Ranked by Impact on Lead Acquisition Quantity
Content Offers Ranked by Impact on Lead Acquisition Quality
More in the B2B Demand Generation Benchmark Report
The charts above only represent a portion of information provided. The full research report: B2B Demand Generation Benchmark Report: 2013 Marketing Priorities, includes additional data points, survey background, and a video discussion with Eloqua’s Marketing Programs Director, Elle Woulfe. Eloqua and CMO.com helped coordinate survey information.