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If you’re a sales or marketing leader, you’ve probably already wrapped up strategy planning for 2015. (Or you might still be in the thick of it if time hasn’t been on your side. No judgment — I’ve been there.) But a new infographic from Implisit which reveals the most and least effective channels for customer conversion might prompt you to crack the newly approved plans open once more and make a few revisions.
For instance, if you intend on finding customers through events and purchased lead lists in the new year, you might want to think again, as these channels had the lowest lead to conversion rate of 14 options. On the opposite end of the spectrum were Facebook and Twitter, company website, and referrals, the last of which blew all other channels out of the water with 3.63% of leads converting to customers. These same avenues were also far more likely to result in closed-won vs. closed-lost deals.
The research also breaks down conversion rates by sales stage. Interestingly, although webinars are the third most effective method for converting leads to opportunities, they are the third least effective channel for converting those opportunities into leads. Lesson: webinars should be used only as top- or middle-of-the-funnel tactics.
As for the benchmarks? The companies in Implisit’s study converted 13% of their leads into opportunities, and 6% of opportunities to customers. The average amount of time it took to turn a lead into an opportunity was 84 days, but it took 18 days to transform an opportunity into a customer. How does your organization compare?
Take your time perusing this infographic — it’s positively brimming with data.
(BW: Some very surprising stats here. Seriously in favor of content marketing. Conventional marketing is seriously flawed.)