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Lead Generation

Average Lead Conversion Rates in B2B

When it comes to lead generation and working in a Business to Business or B2B manner, the rate at which you convert your leads over into actual sales matters to you quite a bit.  If your leads convert slowly, you might not garner as many sales as you would like.  If you are able to turn them around faster, however, you are on the right track.

For lead generation and conversion, one thing you will need to consider as an effective tactic and strategy is retargeting.  You need to bring your prospects back to you, your website, your content, and other items over and over again.  The normal landing pages will get between 2 and 5% conversion rates.  That means that they might get an email address in exchange for a quote, a trial, some content, a demo or even a purchase.  The rest of what you get will possibly be intrigued by your advertising and your overall message, but will not enter their information onto your site.  There are a number of reasons why interested parties will not take the rest of the step and convert themselves from a lead to a full prospect.  Here are just a few:

First, the prospective buyer was interested, but was not ready to commit to anything yet in terms of follow up calls, emails, or purchases.  Second, the content that was advertised on your site simply did not line up with what they saw elsewhere or what they needed.  The site might also not be convincing enough to allow them to justify signing up for more information.  And third, the web form that they needed to fill out might have been too long or involved, which caused them to abandon the cause before completing the information.

It is important to know why people who visit your site with interest in your products or business do not follow through and give you the information you need to turn them into a legitimate lead so you can then go back and fix some of those issues.  You cannot force someone to commit to making a purchase, but you can certainly make your page interesting enough to gather the attention of most visitors who might want details on your products and services and you can also make your web form simple and short so that you do not turn anyone away simply by asking for too much upfront.

In order to track your retargeting and raise your average lead conversion rate, you will need to display ads that reach your target audience and get them to your business website in the first place.  They need to be enticed to click through to your page so that you can build leads, brand awareness, and reach audiences for the future that you can then have the opportunity to convert over into full customers and sales.

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Melissa O'Sullivan

Melissa has worked in digital marketing for over 15 years. She cut her teeth in the CSE models for various retailers and now spends most of her time building great brand development programs across social media. Melissa has been a contributor to MarketingThis.com since 2011.

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