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Industrial Marketing, Lead Generation and Sales: It’s Complicated

Industrial marketing is complicatedRemember this rom-com from 2009? Despite the critics giving it mixed reviews, it went on to gross $219.1 million worldwide. A hit movie for sure.

Sometimes I feel the same way about industrial marketing for lead generation and its relationship to sales – It’s Complicated!

Every industrial company I talk to wants more leads at a lower cost per lead. Yet, very few have a formal process in place to measure marketing’s contribution to sales and revenue.

It is easy to measure data points such as Visitors, Pageviews, Pages/Visits etc. and downloads but it is not easy to tie them back to actual sales. Measuring ROI or ROMI sounds good in theory but difficult to accurately measure in the real world. According to some marketing pundits, these may be too simplistic to understand marketing’s full impact on sales.

Here are two sobering findings from a 2013 survey done by the B2B Technology Marketing Community on LinkedIn and managed by Holger Schulze (@HolgerSchulze).

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Do You Know the Cost of Maintaining Your Industrial Digital Marketing Status Quo?

For the past six years, more than two thirds of manufacturers and industrial companies have said that lead generation or customer acquisition is their top marketing priority according to the latest industrial marketing survey released by GlobalSpec.

The same survey also found that 42 percent of these companies have increased their budgets for digital marketing in 2012 and 47 percent of the respondents spend more than a third of their overall marketing budgets online.

Despite all the encouraging findings about the use of digital marketing within the industrial sector, it is common to find websites that are several years old. I have talked to owners and marketers from manufacturing and industrial companies of various sizes that sounded enthusiastic about launching an industrial blog and moving forward with inbound marketing with content but it seems easier for them to do nothing and maintain their digital marketing status quo. They are hoping that their lead generation problem will somehow solve itself if they continue to do business as usual.

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