Sales Pipeline analyses as done with hundreds of companies by Implicit to discover which channels deliver the highest conversion rate.
Is it very interesting to find out that customer and employee referrals are the best-performing channel with 3.63% conversion rate, followed by company websites with 1.55% conversion rate. Social has 1.47% conversion rate and paid search 0.99%. The worst-performing channels are lead lists with 0.02% conversion rate, events with 0.04% conversion rate, and email campaigns with 0.07% conversion rate.
Have you ever wondered despite the fact, that company events, which may seem lots of fun, have the lowest ratio of closed won opportunities – 1.0%, followed by lead lists with 0.9%?
This is especially very surprising because sales reps only open opportunities after they qualify leads and even after the lead qualification process, it seems that some channels do not produce valuable opportunities with the potential to close.
If acquiring the cost of a lead is somewhere between $99 to $1000 depending on what type of event your marketing team has budgeted for. Research and surveys conducted by LINCHPINSEO show a B2B lead generation is expensive. But there’s something more sinister than expensive leads, if you have tons of unqualified leads in your system then; it’s bleeding your company’s revenue.
Oftentimes, gaps and disconnects in pipeline management emerge from a lack of comprehensive marketing planning, documentation, and strategic oversight leading to huge revenue losses. So in many cases, the solution is to simply take a step back and look at the bigger picture.
- Are your marketing, sales, and customer success teams all aligned internally to solve a Revenue management problem?
- Is your marketing strategy aligned with market and sales teams to generate revenue with a continuing feedback loop?
- How are your marketers allocating their budget to spend on things that will give you the best return on investment (ROI)?
If your revenue is growing, perhaps you are doing something right, but if you are struggling and losing revenue.
Talk to the Revenue Captain team, we are an end-to-end Revenue Operational Management SaaS Solution.