Marketers are more important than you think. 60% of B2B marketers report that they are responsible for at least 20% of their company’s revenues, whereas 25% report that they contribute over 40%, according to a new study from Bizo and Oracle Marketing Cloud, which surveyed 500 B2B professionals in May 2014.
The study focused on lead nurturing in the B2B marketing industry, including budget allocation, strategy, and outlets. The study, called The State of B2B Lead Nurturing, found that 94% of those surveyed have some form of lead nurturing in place, whereas 64% claim their budget they spend over 25% of their budget on prospecting new leads.
B2B Email Marketing Open Rate
One of the most interesting things included in the study was average open rate for email marketing campaigns. Almost 80% of those surveyed stated that their open rate on email campaigns don’t go over 20% on any email they send out.
B2B Marketing Database Effectiveness
In addition, the study cited an additional study from DemandGen that found that B2B buyers don’t like filling out their detailed profile and contact information on a form on a B2B company’s website: just 5% said they were willing to do so.
The survey participants also believed that many of the contacts on their email list were outdated or unresponsive and only a small amount convert into actual clients or sales. According to the survey, “45 percent of marketers believe only 1-4 percent of known contacts in their databases ultimately convert into marketing qualified leads.”
No matter what the strategy, it appears that lead nurturing is still relevant as a part of B2B marketer’s strategy and additionally, marketers have a direct responsibility for a portion of their company’s sales.
To download the PDF of the entire report, visit Bizo’s site.