Marketers are still generating a generous amount of leads for their organizations, but new research suggests that there is still room for improvement in terms of strategy.
Ascend2 recently conducted the “Lead Generation Quality Survey,” and the majority of marketers (60%) said that their lead generation quality strategy has only been “somewhat successful.” Improving content and content engagement (53%), improving the personalization of marketing efforts (44%) and improving third-party lead sources (36%) have been critical challenges for marketers when it comes to generating higher quality leads.
Fortunately for marketers, they may have more of a budget to work with in the future. Most respondents (69%) said that they expect their total budget to increase moderately with time, which may improve the quality of leads generated.
Marketing Budgets to Continue Growing
Marketing budgets are expected to continue to grow and remain strong heading into the coming months, according to previous research.
The CMO Survey, published in partnership with Deloitte, Duke University’s Fuqua School of Business and the American Marketing Association, discovered that marketing budget growth is expected to be strong over the next 12 months, with a growth rate of 8.7%. This is compared to a growth rate of 7.5% just one year ago.
As of 2019, marketing currently accounts for 12% of organizations’ overall budgets. In 2018, this percentage was about 10.8%, highlighting a small but significant growth.