Ask Momentum ITSMA: Lead Conversion Rates: Industry Benchmarks

Q. I am reaching out to you to understand the B2B industry conversion rate benchmarks. What is the conversion rate benchmark of Marketing Qualified Lead (MQL) to Sales Qualified Lead (SQL) and also the average aging benchmark rate of MQL to SQL?

A. Lead conversion rates in B2B vary widely based on industry, solution, business model, and many other factors. Depending on these factors, conversion rates can vary from 16% to 60%! When it comes to lead conversion rates, the average can be very misleading. As such, it is difficult to develop useful industry benchmarks.

Here are two examples:

• SaaS-based technology companies, with their usual go-to-market motions, tend to have higher top-of-the-funnel conversion rates and lower middle-of-the-funnel conversion rates
• Traditional technology companies typically see lower top-of-the-funnel conversion rates and higher middle- and bottom-of-the-funnel conversion rates

Although the funnel stages and percentages will differ, the Inquiry- to-Win rate should be between 7-10 wins per 1,000 inquiries.

As for average aging benchmarks, these are also hard to come by because they are typically driven by business models and internal processes.

Momentum ITSMA members use our Ask Momentum ITSMA inquiry service to gain insight on essential questions about marketing strategy and tactics for B2B services and solutions. This corner of our blog highlights replies to some of our favorite questions.