Lead Management Systems Now a Must Have for Marketing
As part of CSO Insights 9th annual Lead Management Optimization study, we gathered data on over 100 metrics from 600+ firms worldwide. One of the areas covered by the survey was the utilization of technology by marketing teams. When we asked the study participants if they had implemented a Lead Management System (LMS) we received the following responses:
Looking at the above chart, if purchases plans go through as projected, we could see over 60% of lead generation teams leveraging technology to help design, execute and manage their demand generation programs.
When we drilled into the specific types of systems used, 18.1% of companies stated that they had developed their LMS internally, while the remaining 81.9% had licensed a commercial LMS application. This year 33 LMS solution providers were cited by the firms using a commercial offering, with Marketo coming it at the top of the list in terms of implementations.
So what is driving adoption? In looking at the performance figures of firms using a LMS, versus those who do not, we found clear differences. Lead generation teams that utilize technology to help optimize their demand generation efforts create significantly more leads for sales that those marketing groups who do not have a LMS in place. A higher percentage of those leads are actually followed upon by sales. And finally a higher percentage of those opportunities turn into closed deals.
The LMS marketplace continues to experience a rate of change; acquisitions, product enhancements, emergence of new vendors, etc. Based on that, advisory services clients who would like a briefing on the current state of the LMS marketplace, as well as customer satisfaction ratings for the solutions available, should contact their CSO Insights analyst.