EmailTooltester is supported by readers like yourself. We may earn a commission when you purchase through our links. Of course, this won't increase the cost for you.
Lead generation, the process of identifying and attracting potential customers, is something that all businesses need to do in one way or another.
Marketers can take several routes when it comes to generating leads, whether it’s through email marketing, content marketing, social media, or a combination of tactics. In competitive industries, effective lead generation tactics can mean the difference between a sale and no sale.
But how do marketers use lead generation in 2024? And what tactics prove most effective for converting potential customers into real customers? We’ve compiled a list of lead generation statistics to find out just that.
Key statistics
- Email marketing is the most effective lead generation channel, with 48% of marketers saying it is their top method, followed by website landing pages (44%) and content marketing (43%).
- Online retargeting and SEO are the lead generation methods with the cheapest cost per lead at $31, while events and trade shows are the most expensive at $811 per lead on average.
- E-commerce is the industry with the cheapest cost per lead at $91 per lead, while higher education has the most expensive cost per lead at $982.
- Nine in ten (90%) of marketers say they use content marketing as part of their lead generation strategy, but 45% say attracting quality leads is one of their biggest challenges.
- 44% of shoppers say email marketing has the most influence on their decision to make a purchase.
- Almost half (49%) of B2B marketers say generating more leads is their biggest priority, but 41% say this is their most significant challenge when it comes to marketing.
- Bigger companies pay more per lead on average, with companies over 1,000 employees paying $349 per lead, while those with up to 50 employees pay $47 per lead.
Types of content for generating leads
Lead generation can take many forms, and the tactics you choose might depend on your business and your target audience. Some of the most common lead generation methods include:
- Email marketing
- Content marketing
- eBooks
- Templates and tools
- White papers and reports
- Webinars and virtual events
- How-to guides
- Paid search and online ads
- Videos
- Case studies
- Landing pages
The most effective lead generation channels
Marketers use a variety of lead generation methods to engage potential new customers and generate sales. Let’s take a look at some of the most effective lead generation tactics according to marketers.
48% of marketers say email marketing is the most effective lead generation tactic
Almost half (48%) of marketers surveyed say that email marketing is their most successful tactic when it comes to generating new leads. This is followed by website and landing pages (44%) and content marketing (43%).
Testing and optimization is the least effective tactic for marketers (10%), followed by paid search and online advertising (23%). (Source: Salesmate)
44% of shoppers say emails influence their purchasing decisions the most
A survey of shoppers found that emails from retailers had the biggest influence on their decision to make an online purchase. 44% said general emails influenced their purchases the most, followed by catalogs and printed material (43%), and ads alongside online content (32%).
The channels with the least impact on shoppers are social media influencers (7%) and targeted ads relating to products they viewed (11%). (Source: Digital Commerce 360)
Cost per lead statistics
In marketing, the cost per lead (or CPL) refers to how much it costs to generate a new customer. Tracking the cost per lead helps marketing teams understand if they are spending the right amount on different customer acquisition channels, and how effective the marketing campaign is.
Online retargeting and SEO have the cheapest costs per lead
The cost for each lead varies depending on the type of lead generation channel. On average, online retargeting and SEO have the cheapest cost per lead at $31 per lead, followed by email marketing at $53.
The most expensive types of lead generation are events and trade shows ($811) and traditional marketing ($619). (Source: Latinpresarios)
Higher education has the most expensive cost per lead
How do business industries impact the cost per lead? The higher education industry has the most expensive cost per lead at $982 per lead across paid and organic lead generation channels. Financial services comes in second at $653 per lead, followed by legal services at $649 per lead.
Ecommerce is the cheapest industry when it comes to costs per lead with the average lead costing $91 across paid and organic channels. The HVAC (Heating, Ventilation and Air Conditioning) industry follows closely behind at $92 per lead. (Source: First Page Sage)
| Industry | Average paid CPL | Average organic CPL | Average CPL (combined) |
|---|---|---|---|
| eCommerce | $98 | $83 | $91 |
| HVAC | $115 | $69 | $92 |
| Entertainment | $116 | $111 | $114 |
| Pharmaceutical | $124 | $135 | $131 |
| Solar | $217 | $196 | $206 |
| Construction | $280 | $174 | $227 |
| B2B SaaS | $310 | $164 | $237 |
| Biotech | $274 | $236 | $255 |
| Hotels & Resorts | $308 | $224 | $266 |
| Environmental Services | $346 | $207 | $278 |
| Automotive | $295 | $271 | $283 |
| Engineering | $371 | $201 | $287 |
| Addiction Treatment | $380 | $213 | $297 |
| Healthcare | $401 | $320 | $361 |
| Aerospace & Aviation | $469 | $277 | $373 |
| PCB Design & Manufacturing | $480 | $271 | $376 |
| Cybersecurity | $411 | $404 | $406 |
| Business Insurance | $460 | $388 | $424 |
| Real Estate | $480 | $416 | $448 |
| Fintech | $490 | $413 | $452 |
| Industrial IOT | $590 | $404 | $497 |
| Staffing & Recruiting | $476 | $518 | $497 |
| IT & Managed Services | $617 | $385 | $503 |
| Manufacturing | $691 | $415 | $553 |
| Transportation & Logistics | $670 | $505 | $588 |
| Software Development | $680 | $510 | $591 |
| Oil & Gas | $772 | $502 | $637 |
| Legal Services | $784 | $516 | $649 |
| Financial Services | $761 | $555 | $653 |
| Higher Education | $1,261 | $705 | $982 |
Larger companies have the highest costs per lead
Data shows that companies with 1,000 employees or more pay the most per lead, with an average CPL of $349. The cost reduces as the size of the company reduces, with those that have between 2 and 50 employees paying an average of $47 per lead. (Source: Latinpresarios)
This may be due to bigger companies spending more on extensive multi-channel lead generation strategies targeting broader audiences.
Companies with revenue over $500m pay $429 per lead on average
Just like with company size, businesses with the largest revenue also tend to pay more per lead. Those with revenue of $500 million or more have an average cost per lead of $429, while companies with under $1 million in revenue pay an average of $166 per lead. (Source: Latinpresarios)
Lead conversion rate by industry
Lead generation conversion rate varies across different industries. The industry with the highest conversion rate is professional services, including accounting, law, and marketing with a conversion rate of 4.6%. B2B e-commerce (1.8%) and B2C (2.1%) are the industries with the lowest conversion rates. (Source: Ruler Analytics)
Email marketing lead generation
Email marketing is a popular lead generation method that aims to attract and convert potential customers. As we mentioned, 48% of marketers say email marketing campaigns are their most successful lead generation tactic. Let’s dive into some more statistics on email marketing for lead generation.
The ROI for email marketing is 36:1
For every $1 spent by email marketers, they receive $36 in return (or 3,600%). The retail, e-commerce, and consumer goods industries have the highest return on investment for email marketing at 45:1. (Source: Litmus)
Around a quarter of marketing emails are opened
As of 2023, the average email marketing open rate is 26.76%, while the average email newsletter open rate was 27.9% in 2022.
When breaking open rates down by email type, welcome emails have the highest response rate with an average of 63.91%, followed by RSS emails at 45.54%.
29% of shoppers say they open marketing emails from retailers a few times a week, while 25% say they open them daily.
Six in ten shoppers make purchases at least once a month after reading a marketing email
One survey found that 60% of shoppers make purchases monthly after reading a brand’s marketing email. 10% said they make weekly purchases after reading marketing emails, and 22% said they never make purchases because of a marketing email. (Source: Digital Commerce 360)
Content marketing lead generation
Content marketing is a key part of lead generation for most businesses, especially when it comes to generating awareness in the early stages of the sales funnel. Creating content like blog posts, videos, podcasts, and other media helps brands reach new audiences and potential customers. Let’s take a look at some statistics on content marketing and lead generation.
Nine in ten marketers use content marketing
The vast majority (90%) of marketers say they use content marketing as part of their lead generation strategy, and two-thirds (66%) say they document their content marketing efforts. (Source: Semrush)
Leads are the biggest challenge for content marketers
Almost half (45%) of content marketers say that attracting quality leads is one of their biggest challenges. Other challenges these marketers face include creating more content quickly enough (38%) and generating new content ideas (35%). (Source: Semrush)
Podcasts and blog posts are the most effective content types in early lead generation
For marketers looking to convert leads from awareness to intent in the early stages of a buyer journey, 77% said podcasts were the most effective content type, followed by blog posts and articles (76%). (Source: Content Marketing Institute)
B2B lead generation statistics
Almost half (49%) of B2B marketers say that generating more leads is their biggest priority, but 41% said this would be their most significant challenge.
Another 46% of B2B marketers say that improving the quality of their leads and increasing conversion rates is their top priority, but 54% said this would be their biggest challenge. Additionally, 50% of B2B marketers say they did not meet their marketing goals in 2023. (Source: VIB)
Events and webinars are most effective for B2B lead generation
When it comes to B2B lead generation, 32% of marketers said that events and webinars were their most effective channels for generating leads. This was followed by web, search engine optimization (SEO), and organic traffic at 23%. (Source: VIB)
50% of B2B companies say marketing automation provides a higher quality of leads
In a survey of B2B companies, half (50%) said that they got a higher quality of leads and contacts when they used marketing automation to generate leads. 53% also said that automating their marketing efforts led to more conversions, and 64% said it improved the efficiency of all of their processes. (Source: Pedalix)
Summary
Lead generation is an essential part of a successful business, and a number of factors can influence how successful it is and how much it costs. Things like company size and industry can impact how much you pay for leads, and the tactics you use can affect your conversion rates.
Around half of marketers say that generating better quality leads and improving conversion rates is a priority of theirs, but more than half recognize that this is one of their biggest challenges.
The authors
Learn more about us
Our Methodology
This article has been written and researched following our EmailTooltester methodology.
Our Methodology