24 B2B & B2C Marketing Stats To Help Strategize Your Brand’s 2024 (Psst! It’s not to late to plan)
EDIT: It’s Actually 58 Fun Facts. Started with 24 and got too nerd-excited… under promise over deliver, right?
“Remember to look up at the stars and not down at your feet. Try to make sense of what you see and wonder about what makes the universe exist. Be curious. And however difficult life may seem, there is always something you can do and succeed at. It matters that you don’t just give up”
Unclear if the Stephen Hawking quote above is tongue-in-cheek because, well, you know… I choose to hear him say this in jest. I will try to keep a similar tone on any of these 2023 marketing statistics. I hope they help you think of your brand’s future in 2024 and beyond. It's not too late to prepare for 2024 - schedule a free consultation with me at this link: Book an Intro Call 📲. “Law is a business therapist” according to Nate Cinal, owner/operator of my go-to Apple B2B IT firm. I will don a sweater vest and scribble notes on a legal pad if makes you feel comfortable.
2023 B2B & B2C Marketing Statistics To Help Your 2024 Efforts! Let’s get into it!
It's not too late to prepare for 2024.
PAIN POINTS
Lead generation is the most challenging aspect of marketing for 61% of marketing departments.*
Only 20% of sales-qualified leads are correctly followed up. †
B2B Marketing Pain Points
Generating high-quality leads: 65% of B2B marketers struggle to generate a sufficient number of high-quality leads. ††
Measuring marketing ROI: 54% of B2B marketers find it difficult to measure the return on investment (ROI) of their marketing campaigns. §
Creating personalized content: 48% of B2B marketers find it challenging to create personalized content that resonates with their target audience. §§
Aligning marketing and sales teams: 43% of B2B marketers struggle to align their marketing and sales teams to achieve common goals. §
Keeping up with the latest marketing trends: 40% of B2B marketers find it difficult to keep up with the ever-evolving marketing landscape and emerging trends. ¶
B2C Marketing Pain Points
Increasing website traffic: 59% of B2C marketers struggle to drive enough traffic to their websites. ††
Converting website visitors into leads: 52% of B2C marketers find it challenging to convert website visitors into qualified leads. §
Nurturing leads into customers: 48% of B2C marketers struggle to effectively nurture leads through the sales funnel. §§
Measuring marketing ROI: 43% of B2C marketers find it difficult to measure the return on investment (ROI) of their marketing campaigns. §
Attributing marketing efforts to sales: 40% of B2C marketers struggle to attribute their marketing efforts to specific sales conversions. ¶
STRATEGY & ANALYSIS
The average cost of a B2B lead is $168. ††
The average B2B lead takes 12 months to convert into a customer. ††
The average cost of a B2C lead is $29. ††
The average B2C lead takes 14 weeks to convert into a customer. ††
These are bit too general - if you want precise Cost Per Lead industry info, hit me up.
36% of B2B marketers attribute their most successful lead generation efforts to multi-channel marketing campaigns. ††
B2B 97% of people ignore cold calls. ‡
TACTICS
REMEMBER: Most business owners or decision makers reach out to us with a tactical directive, "we need to up our social media game!" How can you do that without knowing your own brand and your actual target audiences? Marketing touches every American. Marketing acumen is like being a Foodie - a lot people believe they have
The optimal marketing strategy focuses on tactics last and should be multi-channel, integrated (offline and online) leveraging each touchpoint in the marketing funnel and sales funnel. ICYMI: this should be your approach 🔥 🧭 .
Do you want to talk about your marketing strategy for 2024 and beyond? Hit me up here.
B2B
Content marketing is the most effective lead generation strategy for B2B companies. 80% of B2B businesses use content marketing to generate leads. §§
Content-led websites are the most important way to generate B2B leads. 37% of B2B marketers believe that content-led websites are the most crucial way for engaging customers. **
Social media marketing is also a valuable tool for generating B2B leads. 68% of marketers say that social media marketing has helped them generate more leads. ‡
Email marketing is still a powerful way to nurture B2B leads. 89% of marketers use email marketing for lead generation. *
Podcasts are an increasingly popular way to reach B2B decision-makers. 77% of marketers find podcasts to be the most efficient content for lead generation. ‡
B2B Personalization during lead nurturing enhances the potential of conversion by 63%. *
Personalization is key to B2B lead generation. 76% of B2B buyers consider personalization to be an important factor in their purchasing decision. ***
70% of B2B marketers consider LinkedIn to be the most effective social media platform for generating leads.††
B2C
24% of B2C marketers consider webinars the most effective content format for lead generation. †
64% of B2C marketers use social media for lead generation. *
50% of B2C marketers use email marketing for lead generation. *
46% of B2C marketers use search engine optimization (SEO) for lead generation. *
44% of B2C marketers use paid advertising for lead generation. *
38% of B2C marketers use content marketing for lead generation. *
35% of B2C marketers use events to capture leads. ††
28% of B2C marketers use public relations (PR) for lead generation. *
26% of B2C marketers use influencer marketing for lead generation. *
73% of B2C marketers say that video is the most effective type of content for lead generation. ††
72% of B2C marketers use email marketing as part of their lead generation strategies. (Statista)
63% of B2C marketers say that personalized content is the most effective way to nurture leads. §
52% of B2C marketers use marketing automation to nurture leads. §
43% of B2C marketers attribute their most successful lead generation efforts to multi-channel marketing campaigns. ††
65% of B2C marketers use website forms to capture leads. ††
59% of B2C marketers use landing pages to capture leads. ††
52% of B2C marketers use gated content to capture leads. ††
47% of B2C marketers use social media contests and giveaways to capture leads. ††
43% of B2C marketers use referral programs to capture leads. ††
Now, take these B2C statistics with a grain of salt. B2B companies' statistical report has a higher confidence rate than B2C. You can read this as B2B businesses usually have their shit together.
Automation, Efficiencies & AI
49% of B2B marketers use marketing automation to nurture leads. §
...which leads us to AI, or, really, the fear of AI giving FOMO to my Keyboard Soft brethren (white collar workers, or you spend the majority of your work week on your devices) out there. AI was 2023's most over-marketed value added phrase. I never thought we would beat 2021's pivot.
A lot of apps, websites, and SaaS products claimed to be powered by AI. I believe it is too difficult to qualify these claims. We would need to find an AI bullshit detector to scan AI apps. A real ouroboros situation here.
No need to have Batman-level fear about AI. Think of it as a tool. To quote my brand guru colleague, David Downing, "Right now, [most AI apps like Chat GPT,] they are what the TI-83 calculator is to complex math problems." Most of you reading this probably shutter - with PTSD flashbacks about your calculus class. Not me! As a self-proclaimed Former D1 Athlete, I love math! My As in math offset my Cs in non-math classes. Frustrating for my parents. Bully for you and me and I! Marketing is one big complex puzzle of a math problem. As the kids say, "I'm here for it. "
AI Lead Generation Marketing Statistics
75% of B2B organizations are planning to or already using AI in their lead generation efforts. ***
59% of B2B marketers believe that AI will significantly impact their lead generation strategies in the next three years. ⁂
53% of B2B marketers are already using AI in their lead generation efforts. ***
74% of B2B marketers believe that AI will be essential to their lead generation efforts in the next five years. ***
The use of AI in lead generation is expected to lead to a 20% increase in lead conversion rates by 2025. ⁑
AI-powered chatbots are expected to generate $11 billion in revenue by 2023. ⁂⁂
AI-powered lead scoring can increase lead conversion rates by up to 20%. §
AI-powered predictive analytics can help B2B businesses identify potential leads with a 90% accuracy rate. ⁑⁂
AI-powered personalization can increase email open rates by up to 30% and click-through rates by up to 50%. ⁑⁑⁂
Approximately 2/3rds of B2C marketers believe that AI will significantly impact their lead generation strategies in the next 3 years. ⁂
AI-powered product recommendations can help B2C businesses increase sales by up to 30%. ⁑⁑⁂
AI-powered personalization can increase email open rates by up to 40% and click-through rates by up to 60%. ***
“Remember to look up at the stars and not down at your feet...Be curious...”
It's not too late to prepare for 2024 - schedule a free consultation
Footnotes: *Salesmate †Hexospark ††HubSpot §Marketo §§Content Marketing Institute ¶Ascend2 ‡Exploding Topics **Demandmetric ***Salesforce ⁂SuperOffice ⁑Gartner ⁂⁂Juniper Research ⁑⁂McKinsey & Company ⁑⁑⁂Accenture
