How can you measure lead nurturing performance with benchmarks?

2 How to set benchmarks for lead nurturing?

To set benchmarks for lead nurturing, you need to first define your objectives and your target audience. What are you trying to achieve with your lead nurturing campaigns? Who are you trying to reach and influence? Then, you need to select the metrics that reflect your objectives and your audience's behavior. For example, if your objective is to increase conversions, you might want to track metrics such as conversion rate, sales cycle length, or revenue per lead. If your objective is to build trust and engagement, you might want to track metrics such as open rate, click-through rate, or lead score. Next, you need to collect and analyze your data, either from your own sources or from external sources. You can use tools such as CRM, email marketing software, analytics software, or surveys to gather and measure your data. You can also use industry reports, surveys, or benchmarks databases to find external data. Finally, you need to compare your data with your benchmarks and interpret the results. How do you perform against your benchmarks? Are you meeting, exceeding, or falling short of your expectations? What are the factors that influence your performance? How can you optimize your lead nurturing campaigns based on your findings?

3 What are some common lead nurturing benchmarks?

When determining the best lead nurturing benchmarks, there is no one-size-fits-all solution as they may differ depending on your industry, niche, audience, and objectives. However, common benchmarks to use as a reference include the conversion rate, sales cycle length, revenue per lead, open rate, click-through rate, and lead score. For instance, HubSpot states that the average conversion rate for lead nurturing campaigns is 15%, Marketo notes that the average sales cycle length for B2B companies is 102 days, MarketingSherpa reveals that the average revenue per lead for B2B companies is $1,048, Mailchimp states that the average open rate for B2B emails is 21.33%, and Mailchimp also suggests that the average click-through rate for B2B emails is 2.73%. Additionally, DemandGen reports that the average lead score for B2B companies is 57.

5 How to track and report your lead nurturing performance with benchmarks?

Tracking and reporting your lead nurturing performance with benchmarks is essential to monitor your progress, evaluate your results, and communicate your value. To do this, you need to define your reporting frequency and format, select your key performance indicators (KPIs) and metrics, collect and analyze your data, compare and interpret it, and visualize and communicate it. Depending on your goals and stakeholders, you might want to report monthly, quarterly, or annually using formats such as dashboards, spreadsheets, or presentations. You can use metrics such as conversion rate, sales cycle length, revenue per lead, open rate, click-through rate, or lead score to measure your data. You can also use industry reports, surveys, or benchmarks databases to find external data. By comparing and interpreting your data against benchmarks you can determine if you are meeting or exceeding expectations. Finally, you can use tools such as charts, graphs, tables or infographics to visualize your data and tools such as reports, newsletters or meetings to communicate it.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?