What is the Average Cost Per Lead for B2B Sectors
Lead generation is one of the toughest challenges for almost all B2B marketers around the world. The cost per lead is something they all care most about because at the day end, it’s the ROI that matters. No matter how many B2B lead generation strategies you have in action, if the cost per lead is unknown, you can never calculate the actual profit.
Without knowing the cost per lead many B2B marketers spend a lot of time, figuratively, pouring water into leaky buckets. Rather than fixing the bucket, i.e. improving the marketing funnel, they pour more water in the leaky bucket, i.e. they keep bringing useless traffic on the site. Knowing the average cost of per lead for your B2B business can help you optimize the process, reduce the costs and increase the ROI.
Successful B2B lead generation companies believe that traffic that doesn’t convert is not useful for your B2B brand at all. The inflated acquisition costs higher and delivers below-average results.
Here is a rough idea about average cost per b2b lead for various industries as studied by HubSpot, which you can use for a reference, but the actual cost may vary depending upon your business model and the marketing strategy.
To know your actual average cost per B2B lead, do simple math; let’s say you send 1,000 visits to your landing page at a cost of $3 per visit. If your form converts at 1% you’ll get 10 leads at a cost per lead of $300. If, on the other hand, your form converted at 3%, you’d receive 30 leads at a cost per lead of $100. That’s 3X more leads for one third of the cost per leads without spending a penny extra – just by improving your lead generation form.
So, it is important to convert the existing visitors rather than bringing new ones and this is what you call conversion optimization. The biggest culprit in conversion is your landing page. The visitors may not convert because your landing page is not promising enough as your ad. So, the first steps is to look for ideas to improve your landing pages.
But, if you’re sure that you have a great landing page, it must be your forms that are stopping visitors to join in. Forms separate your leads from non-leads, and have a huge impact on your conversion rates and overall lead generation results. If you haven’t already, it’s better to optimize your forms as a top priority. Using a tool like Leadformly will ensure that you’re not leaving leads behind from your marketing campaigns.