Lead Generation and Conversion Statistics to Guide Your Marketing Strategy in 2023
Take these statistics and use them to guide your marketing strategy in 2023.
What should a lead cost you?
Average lead costs vary substantially from industry to industry depending on competition. Often the higher CPL (cost per lead) industries are those with the highest ROIs too. Below is a table with major industries and their average CPLs for 2023.
| Financial Services $160 | Healthcare $162 |
| Retail $34 | Education $208 |
| Travel $106 | Consumer services / products $105 |
What’s the best way to get leads?
There are a few considerations that go into understanding which lead generation avenue is the best for your business. Your product or service, your short-term and long term plans, your sales funnel among others things.
SEO for example provides the best CPL, but it’s time consuming and results are often achieved only after months and months of nurturing. Once the foundation is laid, leads tend to funnel in quite fast making the CPL low in the long run.
Google Ads or search advertising, generally more expensive, will get you warm leads. Such leads are closer to converting therefore you get quick returns.
Finding the balance is key. Below is a table with major marketing channels and their average CPLs for 2023.
| SEO $31 | Display advertising $38 |
| Email $53 | Google Ads $110 |
| Social Media $58 | LinkedIn $75 |
| Content Marketing $92 |
The case for automation
451% increase in qualified leads for companies that automate their customer relationship management (CRM) solutions.
52% of companies report to already have a partial or full CRM deployment in place.
Salesforce, Oracle and Adobe continue to dominate market share. However, there are more reasonably priced solutions available like the one we offer.
Optimizing for local intent searches is key for businesses
46% of all Google searches are local intent.
76% of searchers looking for “near me” keywords visit the business within 24 hours.
42% of all local searches involve clicks on the Google’s Local 3-pack or Map pack.
SEO has changed but it isn’t dead
13X – the increase in ROI when blogging is prioritized.
117% ROI for just technical SEO that mostly involves on-page elements.
748% ROI for subject matter authority content marketing and SEO.
The importance of “what you see is what you get”
93% of all online buying decisions are based on reviews.
62% chances of a sale being made if content contains striking imagery and videos.
81% of consumers vet local businesses online before engaging.
Follow up with leads needs to be lightening quick
Leads are 9 times more likely to convert if they’re contacted within 5 minutes. Which is to say, if you keep your prospects waiting, they’ll most likely find someone else.
We hope you find this information helpful as you create a more robust marketing strategy in the new year.
Please feel free to call 855-444-4777 or email contact@searchberg.com if you want to learn more about how we can help.
