Study

B2B Lead Generation Statistics (Average cost per lead by industry 2023)

Lead generation plays a critical role in the growth of any business. And don’t just take our word for it. Lead generation statistics are here to back this up.

For instance, businesses are projected to spend over $3 billion on online lead generation in the US alone by the end of 2023.

With the global lead generation industry estimated to triple in size to $9.6 billion within the next few years, it’s clear that generating and converting leads is becoming more crucial than ever for market success.

For more lead generation statistics and insights, read on.

Lead Generation Statistics 2023 (Top Picks)

  • The average cost per lead varies widely by industry, from $91 in ecommerce to $984 in higher education.
  • Nurtured leads make 47% larger purchases than non-nurtured leads, highlighting the value of consistent, personalized lead nurturing efforts.
  • LinkedIn is considered the #1 platform for quality leads by 40% of B2B marketers, thanks to its robust professional networking tools.
  • Content marketing generates 3x more leads than outbound marketing at 62% lower cost, revealing its value for budget-friendly lead generation.
  • The global lead generation industry is projected to triple to $9.6 billion by 2028, demonstrating its increasingly vital role in business growth.
  • 62% of real estate leads come from referrals, emphasizing the importance of cultivating strong client relationships.
  • Live phone leads convert 30% faster than digital leads, underlining the impact of real-time, human interaction.
  • 61% of B2B marketers send all leads to sales, but only 27% are truly sales-ready, indicating a need to better qualify leads first.
  • 80% of new leads don’t convert, highlighting the need for strategies to nurture leads and gauge true buying intent.
  • Lead generation spend in the US will hit $3.2 billion in 2023, showing businesses are investing heavily to acquire new customers online.

In a recent 2023 survey, nearly half the marketers realized their ways of keeping potential customers interested could be better.

Last year, 3 out of 10 felt this way, but now it’s up to almost 4 out of 10. This means more people selling stuff know they need to keep up with interested buyers more effectively.

Money spent on getting leads online in the US is expected to hit $3.2 billion by the end of 2023. That’s a big number, and it tells us that businesses are serious about investing on the internet to get new customers. It’s a big part of their plan to grow and make more sales.

Here’s another interesting lead generation statistics: Two-thirds of marketers say that if they put in just one day’s worth of work on social media every week, they get better leads. This tells us that being active on social media—posting, chatting, and sharing—can really help find people who might buy what you’re selling.

Very few marketers—less than 2 out of 10—think that reaching out to potential customers first works well for getting good leads. Most seem to think that it’s better to have customers come to them first, which is a big change from the past ways of selling.

B2B Lead Generation Statistics

A whopping 67% of B2B marketers have acknowledged that crafting valuable content has been a key driver in not just attracting eyeballs but also in generating leads and demand for their services or products.

Webinars have emerged as a powerful engagement tool. Nearly half (48%) of marketers pointed out that webinars were their top-performing inbound marketing strategy in terms of getting high-quality leads last year.

This shows that Webinars are now a great tool for capturing the attention of potential business customers.

When we talk about consistency, 80% of B2B marketers are working on consistency for their lead generation efforts. This highlights that content’s role in attracting and nurturing leads is evidently more crucial than ever.

Lastly, a substantial 70% of B2B marketers have found that video marketing isn’t just about views; it’s a strategic tool that effectively engages and leads prospects down the funnel to conversion.

In a nutshell, these stats tell us that whether it’s a blog post, a live webinar, or a snappy video, getting your content right means getting your leads right.

B2B Lead Generation Benchmarks

A whopping 61% of B2B marketers funnel all their leads straight to the sales team. But here’s the thing only about 27% of these leads are actually ready for a sales pitch. This statistic highlights a potential disconnect.

The lesson? Qualify your leads before passing them to the sales team. This ensures that sales teams spend their time on leads that are more likely to close, boosting efficiency 

Now, let’s talk about content. It turns out, 40% of marketers keep a close eye on their content’s performance especially when it comes to lead generation.

It makes sense because content is often the first handshake between a business and a potential customer. If that handshake is strong – if the content resonates – you’ve got the makings of a solid lead. 

And whether B2B or B2C, companies understand the power of landing pages. They’re the digital “front doors” to your business, and they’re popping up everywhere. 

On average, companies are juggling around 32 to 33.5 landing pages. That’s a lot of doors – and a lot of welcome mats. Why so many? Because each page is a targeted pitch, a chance to speak directly to a specific audience.

The sheer number of these pages shows a trend toward personalization and segmentation, aiming to capture leads across various audience and buyer intents. 

Lastly, let’s not forget about organic search. For 27% of businesses, it’s the leading edge in terms of lead generation. These are the leads that didn’t cost a dime in advertising, the ones who found you while they were looking for answers.

They’re precious because they suggest that your content and SEO strategy are on point, reaching people who are already on the lookout for what you offer.

Lead Nurturing Statistics

Did you know that nurtured leads often result in purchases that are 47% larger compared to those that aren’t nurtured? That’s nearly half again as much, and it’s a massive indicator of the value that can be unlocked through consistent and personalized lead nurturing efforts. 

This uptick in purchase size suggests that nurtured leads develop a deeper trust and a more substantial relationship with the brand, which translates into more significant investment on their part.

Looking at lead management, 46% of marketers who have finely tuned their lead management processes see over three-quarters of those leads receiving timely follow-ups from sales teams. It’s not just about generating leads; it’s about what you do with them.

Mature processes often mean that leads are high quality and have been warmed up effectively, making a sales team’s job much more easy and productive.

Now, here’s a stat worth considering: lead nurturing isn’t just about improving sales; it’s also about doing it more cost-effectively. Businesses report generating 50% more sales-ready leads through nurturing, and they do it at 33% less cost. This is a double win for any business. 

A whopping 80% of new leads never transform into sales, and a lack of nurturing is a big reason why. Without a nurturing process, even leads with potential can wither away, highlighting the importance of a solid nurturing strategy to bridge the gap between interest and action.

Average Cost Per Lead By Industry 2023

As per the 2023 First Page Sage’s Report on Cost Per Lead by Industry, the data is as follows:

IndustryAverage Cost Per Lead
Real Estate$448
Manufacturing$553
Higher Education$984
Entertainment$114
Fintech$452
Ecommerce$91
Automotive$283
B2B SAAS$237

Social Media Lead Generation Statistics

When it comes to attracting top-notch leads, LinkedIn is at the forefront for B2B marketers. In fact, a notable 40% of these marketing pros consider LinkedIn as their go-to resource for quality leads.

It’s a great platform for networking and connecting with industry players, which explains its effectiveness.

Zooming out a bit, we see that this preference isn’t just a small trend. A whopping 89% of B2B marketers use Linkedin for their lead generation needs.

This speaks volumes about LinkedIn’s robust platform, tailored for professional networking, making it the perfect place for B2B interactions.

Flipping over to Instagram, the story gets even more interesting. An impressive 88% of marketers have found that their brand’s exposure grows rapidly on this platform.

And with 79% reporting increased traffic, it’s clear that Instagram isn’t just about likes and shares; it’s driving potential customers right to marketers’ doorsteps.

But that’s not all. Instagram also plays a crucial role by aligning 69% of marketers with leads that are genuinely interested in what they have to offer. It’s the actual start of a journey that could end in a sale.

Now, let’s talk about Twitter. Twitter is the center where two-thirds of businesses gather. Specifically, 66% of U.S. companies with a big staff size (we’re talking 100+ employees). are tweeting, sharing, and engaging with their audience here.

By joining Twitter, SMBs are strategically placing themselves in a stream of potential leads. And if you’re not there? Well, you’re missing out.

In essence, these social media platforms are dynamic ecosystems where businesses can grow, connect, and convert.

Lead Generation Industry Statistics

If we look at successful sales teams we’ll often find sales and marketing teams working together, cooperating and helping each other.

The stats show a 38% boost in closing deals. It’s a clear signal that when sales and marketing share goals and strategies, they’re not just hitting targets—they’re smashing them.

Now, let’s talk dollars and cents in the lead gen market. The average price tag for a lead? It hovers around $198.44.

It highlights the value placed on capturing leads that could turn into revenue. It’s a delicate balance for businesses: investing enough to reel in quality leads without tipping the scales on the budget.

On average, organizations are pulling in 1,877 leads monthly. This constant flow of potential is crucial for growth and stability in the competitive market.

Content Marketing Lead Generation Statistics

You’ve probably heard that content is king, but just how effective is content marketing when it comes to lead generation?

Content marketing is outperforming outbound marketing by threefold when it comes to lead generation. And here’s the thing: it does this at 62% less of the cost. Imagine cutting down your expenses while tripling your leads.

Now, for medium and larger businesses, the financial benefits become even more pronounced. Compared to paid search—another go-to digital marketing strategy—content marketing slashes the cost per lead by up to 41%

This proves that content marketing is a budget-friendly strategy with heavyweight returns.

But what about speed? Sure, paid campaigns can kick off in a snap, but content marketing does take a bit of time. That said, over a 36-month period, a strategic approach to content can deliver over four times the leads per $1000 invested.

These results speak volumes about its efficiency and long-term value.

Lastly, let’s talk about quality. A staggering 74% of companies observed a double win—they saw not just an increase in the number of leads but in their quality too, after implementing a content marketing strategy. 

In short, for businesses looking to optimize their lead generation, content marketing is proving to be an investment that pays off in both the short and the long run.

Lead Generation Market Size

When we talk about lead generation, we’re discussing a giant segment of the marketing industry. And here’s why:

The lead generation industry is estimated to go from a $3.1 billion industry in 2021 to a projected $9.6 billion by 2028–a triple jump in market size. And that speaks to how crucial lead generation has become for businesses everywhere.

Zooming in on the near future, the forecasted growth to nearly $3.25 billion by the end of 2023 is a clear indicator of the sector’s dynamism. What this means is that businesses are recognizing the value of investing in lead generation more than ever before.

What’s driving this rapid expansion? A mix of advanced analytics, innovative software solutions, and strategic marketing practices that have turned lead generation into a precise science.

It’s an investment that promises to funnel the right kind of prospects into the sales pipeline, increasing the chances of conversion and, ultimately ensuring more profits.

Real Estate Lead Generation Statistics

A striking 62% of leads in the real estate market come from referrals. This suggests that trust and personal connections are still at the heart of the real estate business.

Building strong relationships with clients pays off, as they’re more likely to recommend services to others, amplifying the power of word-of-mouth.

If we look at the preferences of buyers and sellers. We can notice a notable trend: 67% of buyers and a whopping 82% of sellers set their sights on one real estate agent only.

This exclusive approach indicates that most clients are not shopping around; instead, they’re choosing to trust a single agent.

It highlights the importance for agents to make a solid first impression and establish credibility from the get-go.

When it comes to sourcing premium leads, nearly half of the real estate professionals – 46%, to be exact – report that social media stands out as the best. With 89% of real estate pros leveraging Facebook as a lead generation tool, it’s clear that social platforms are integral to real estate marketing strategies these days.

The focus on Facebook for lead generation activities demonstrates its wide reach and the ability to target specific demographics effectively.

Lead Conversion Statistics

In the world of lead generation, not all leads are created equal. A striking difference emerges when we compare the effectiveness of phone calls versus web leads.

They translate into tangible value, generating an impressive 10 to 15 times more revenue compared to web leads. Why is this the case? The answer lies in the immediacy and depth of conversation that calls provide, allowing for richer communication and quicker trust-building.

Speed is also a critical factor when converting leads into customers. When a lead reaches out, time is of the essence.

Statistics show that potential clients converted 30% faster through calls than those who were courted via digital means. The reason? It’s simple.

The swift, human interaction that comes with a phone call often creates a sense of urgency and personalization, which web leads may lack due to their often automated and impersonal nature.

Now, let’s talk about responsiveness. Imagine this: A lead lands in your inbox or calls your business. How fast you react could mean the difference between a conversion or a missed opportunity.

Responding within one minute can increase lead conversions by 391%. That’s no small number. The prompt response signals to the lead that their business is valued and that they’re dealing with a highly responsive and attentive organization.

Moving on to the next stats, vendors who step up and respond to leads first typically snag between 35% and 50% of the sales.

Being the first responder doesn’t just show potential customers that you’re eager for their business; it sets a positive and proactive tone for the entire customer relationship.

Highest Quality Leads

About 37% of marketers are finding it tough to generate leads that meet their high-quality criteria. Just any leads won’t suffice them. They’re looking for leads that are likely to engage and convert.

Digging into the details, we see that 35.4% of marketing leaders in the U.S. pinpoint a specific hurdle: potential customers are not fully grasping what’s being offered.

It’s not just about showcasing a product or service; it’s about making sure its value is understood. So marketers need to consider this aspect while setting up their lead generation campaigns.

For two-thirds of B2B marketers, their eyes are on the prize: quality leads. It’s their number one aim. They prioritize leads that have a higher chance of becoming sales over a high volume of leads that don’t go anywhere.

Conclusion

As the lead generation statistics show, companies are investing heavily in lead gen, with global spend expected to triple to $9.6 billion by 2028.

Effective lead nurturing and fast response times are critical for converting leads to sales.

Nurtured leads make 47% larger purchases, while responding to a lead within one minute can increase conversions by over 300%.

However, with the majority of new leads never becoming sales, robust processes for qualifying and nurturing leads are essential.