We are trying to make a case for marketing automation to our client and are looking industry averages for conversion rates for each step of the marketing and sales funnel. Can anyone help us out with these conversion rates?
The steps in the pipeline we are looking for conversion rates for are:
Total Prospects to Campaign Engagement/Actions/Inquiry
Campaign Engagement/Actions/Inquiry to Marketing Qualified Lead (MQL)
Marketing Qualified Lead (MQL) to Sales Accepted Lead (SAL)
Sales Accepted Lead (SAL) to Sales Qualified Lead (SQL)
Sales Qualified Lead (SQL) to Closed Sale
There are some studies I link to on my website
If you scrounge related keywords, you may find slideshare and google will spit out bits of info from events or Sirius Decisions. Unfortunately, I can't repost copyrighted or paid #s.
Another point to consider is "What is this benchmark going to do?" I'd rather have my client focus on finding out what their conversion rate is first, then deciding they can do better. Focusing on competitors may only lead to a useless arms race that annoys clients. For example, if your Anonymous to Known or Known to MQL rates are below your competitors, but your SAL, SQL, and Won rates are much higher, does that really tell you much? Are their volumes comparable? Are industry benchmarks comparing products and other efforts well?