As marketers we want to understand how we
stack up against the competition
. With HubSpot’s continued growth, one of the concepts we have been excited to explore are benchmarks based on our customers’ inbound marketing practices. We have over 4500 customers using the HubSpot product.
In aggregate, these customers’ data represent a treasure trove of information about the modern marketing practices of small and medium businesses.
One of the key questions any marketer asks is “How do I compare to others?” With these aggregated benchmarks, we can address this question for our customers in the product. As a product manager in HubSpot’s R&D group, I calculated various benchmarks to include in the HubSpot product and thought it would be fun to surface three interesting tidbits from the benchmarks data we discovered along the way which hopefully can help you to be a better marketer.
We calculated benchmarks for five key marketing metrics:
We calculated benchmarks for five key marketing metrics:
- Monthly Website Visits
- Monthly Leads
- Monthly Customers Won
- Visit-to-Lead Ratio (Monthly Leads divided by Monthly Website Visits)
- Lead-to-Customer Ratio (Monthly Customers Won divided by Monthly Leads)
1. Remarkable Content Rules
When we reviewed the industry benchmarks, we looked to see which B2B industry had the highest visit-to-lead ratio . We theorized before looking at the numbers “maybe the software industry will have the highest since they’re most likely to understand the web and internet marketing ”
Wrong.
The “Consulting/Advisory” industry designation carried the day with a 2.6% average lead-to-conversion rate. Once we thought about this, it made a lot of sense. Consultants are in the business of providing compelling content as a product. That’s what they do. They research then they deliver written conclusions. Therefore, its logical that they would be the best at converting their visitors to leads with compelling offers.
2. Conversion Rates are Agnostic to Company Size
We also calculated the visit-to-lead conversion rates based on company size. And there was no correlation between the conversion rates and the size of the company. Visit-to-lead conversion rate for 1-5 employee companies? 1.9%. For 51-200 employee companies? 1.9%.
Bigger companies tend to get more visits and thus more leads. But bigger companies are no better at converting visitors to leads.
3. Inbound Marketing Works
At HubSpot, we internally track a metric called CHI. Its designed to assess how deeply our customers are embracing Inbound Marketing tactics . The more elements of inbound marketing you are engaging in as a customer, the higher your CHI score will be.
Guess what? The higher you score in the CHI metric, the higher your visit-to-lead conversion rate is:
When we reviewed the industry benchmarks, we looked to see which B2B industry had the highest visit-to-lead ratio . We theorized before looking at the numbers “maybe the software industry will have the highest since they’re most likely to understand the web and internet marketing ”
Wrong.
The “Consulting/Advisory” industry designation carried the day with a 2.6% average lead-to-conversion rate. Once we thought about this, it made a lot of sense. Consultants are in the business of providing compelling content as a product. That’s what they do. They research then they deliver written conclusions. Therefore, its logical that they would be the best at converting their visitors to leads with compelling offers.
2. Conversion Rates are Agnostic to Company Size
We also calculated the visit-to-lead conversion rates based on company size. And there was no correlation between the conversion rates and the size of the company. Visit-to-lead conversion rate for 1-5 employee companies? 1.9%. For 51-200 employee companies? 1.9%.
Bigger companies tend to get more visits and thus more leads. But bigger companies are no better at converting visitors to leads.
3. Inbound Marketing Works
At HubSpot, we internally track a metric called CHI. Its designed to assess how deeply our customers are embracing Inbound Marketing tactics . The more elements of inbound marketing you are engaging in as a customer, the higher your CHI score will be.
Guess what? The higher you score in the CHI metric, the higher your visit-to-lead conversion rate is:
| HubSpot Customers Segments, by CHI | Visit-to-Lead Conversion Rate |
| Top 10% of HubSpot Customers | 2.20% |
| Top 25% of HubSpot Customers | 2.09% |
| Top 50% of HubSpot Customers | 1.81% |
| All HubSpot Customers | 1.69% |
Photo courtesy of
laurenmanning
.
Topics:
Marketing Data
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