Evaluate Korean Company’s Lead Generation Performance

Evaluate Korean Company’s Lead Generation Performance

  

 

🔍 Key Findings

1. Systematic Strategy Development
   • Only 21% of companies systematically establish lead generation strategies.
   • 43% responded that their strategy development is "average," while 36% rated it as "below average."
   • The gap between global companies and domestic companies in this area was not significant.
   • The lack of a systematic strategy places additional pressure on marketing employees, negatively impacting productivity and job satisfaction.

2. Sufficiency of Marketing Budgets

• Only 24% of companies allocate sufficient budgets for lead generation.
• 31% rated their budget as "average," while 45% believed their budget was "insufficient."
• The survey suggests that to achieve proper growth in lead generation, at least 50% of companies should have adequate marketing budgets.

3. Executive Understanding of Marketing

• 64% of executives have an "above-average" understanding of marketing, suggesting that senior leaders recognize the importance of marketing.
• However, 36% still have a "below-average" understanding, with 29% of these respondents also lacking a systematic strategy for lead generation.
• This highlights a direct link between executive understanding of marketing and the company's ability to develop a structured strategy.

4. Sales and Marketing Collaboration

• 73% of respondents believe that collaboration between sales and marketing is "average" or "above average."
• Only a small percentage indicated that collaboration was "very poor," suggesting that the relationship between sales and marketing is relatively positive.
• Companies with poor collaboration may still view marketing as a support function for sales rather than a core driver of revenue.

5. A/B Testing Utilization

• 62% of companies do not actively perform A/B testing as part of their lead generation strategy.
• Companies are encouraged to implement more A/B testing as it is a powerful tool for optimizing lead generation.
• The survey suggests that increasing the adoption of A/B testing from 38% to 50% could make A/B testing a mainstream practice in Korea’s B2B       marketing landscape.

6. Nurturing Activities

• 58% of companies do not conduct nurturing activities effectively, similar to previous survey findings from the 2024 Korea B2B Marketing Nurturing       Trend Report.
• A significant number of companies with ineffective nurturing programs have fewer than 3 marketers on their teams, suggesting that a lack of manpower is a key factor.
• Companies must improve awareness and methods for nurturing to build more effective lead generation programs.

7. ABM (Account-Based Marketing) Performance

• 28% of companies are successful in using ABM for lead generation, while 28% perform at an average level.
• However, 45% of companies do not execute ABM effectively, with challenges in strategy, account management, and onsite seminar execution.
• While digital ABM campaigns can still generate opportunities, most onsite ABM initiatives are driven by sales teams, which could limit the role of marketing.

8. Lead Scoring Usage

• 51% of companies do not use lead scoring effectively.
• Lead scoring requires marketing automation or CRM platforms, but many companies continue to rely on Excel, which has limitations when dealing with large datasets.
• Companies are encouraged to implement lead scoring as a key performance indicator to track the growth and potential of leads, as well as the need for additional nurturing activities.

  

2024 Korea B2B Marketing Trend Report

📊 Analysis & Insights

1. Urgent Need for Systematic Strategy Development
   • Only 21% of companies have a systematic strategy for lead generation, which is consistent with global trends but still too low.
   • Companies lacking a structured strategy tend to face challenges with marketing execution, resulting in low productivity and employee dissatisfaction.
   • There is a strong correlation between executive understanding of marketing and a company's ability to develop a systematic strategy. Companies with executives who have limited marketing knowledge are less likely to have a solid lead generation strategy.

2. Budget Constraints are a Major Bottleneck

• Only 24% of companies have sufficient budgets for lead generation.
• Insufficient budget allocation can limit investment in key areas like content creation, nurturing programs, and ABM, all of which are essential for effective lead generation.
• To see significant improvement, at least 50% of companies should secure sufficient budgets, especially as lead generation becomes more data-driven and dependent on paid media, CRM systems, and automation tools.

3. Marketing and Sales Alignment is Improving

• The survey shows that 73% of companies report "average or better" collaboration between sales and marketing.
• However, some companies still see marketing as a "support function" for sales rather than a strategic partner.
• For full sales-marketing alignment, it is essential to move away from the traditional sales-dominated approach and embrace harmonized account-based revenue models.

4. Need for Broader Adoption of A/B Testing

• With 62% of companies not fully utilizing A/B testing, there is a missed opportunity for continuous improvement.
• A/B testing should be used to optimize website CTAs, email campaigns, and lead form designs, all of which play a critical role in lead generation.
• Increasing A/B testing adoption from 38% to 50% will establish a better "test and learn" culture in Korea’s B2B marketing.

5. Nurturing Capabilities Must be Strengthened

• 58% of companies report that nurturing programs are underperforming, and this issue is compounded by a lack of manpower.
• Since companies with fewer than 3 marketers on staff struggle with nurturing, it is vital to automate nurturing activities and leverage marketing automation platforms to fill the gap.
• Companies should focus on drip campaigns, lead scoring, and personalized content delivery to drive improvements in nurturing performance.

6. Account-Based Marketing (ABM) is Underutilized

• 28% of companies effectively execute ABM, but 45% still face significant challenges.
• A lack of onsite seminars and difficulties with account prioritization are notable barriers.
• To improve, companies should build digital-first ABM programs that leverage intent data, targeted ad campaigns, and personalized outreach to overcome these hurdles.

7. Lead Scoring is Underused

• With 51% of companies not effectively utilizing lead scoring, there is a clear opportunity for improvement.
• Implementing lead scoring requires marketing automation platforms (like HubSpot or Salesforce) instead of manual Excel tracking.
• By using lead scoring, companies can track lead quality and prioritize which leads to nurture or convert. This can significantly increase sales-qualified leads (SQLs) and drive better sales outcomes.

 

 

🧭 Recommendations

1. Support Strategy Development
   
   • Provide standardized frameworks and templates for lead generation strategy development.
   • Offer executive workshops to improve C-suite understanding of marketing, which is directly linked to better strategy execution.
   • Encourage companies to develop a structured approach to lead nurturing and lead scoring.

 

2. Increase Budget Allocation

• Raise awareness of the importance of marketing investment, especially for ABM, nurturing, and automation.
• Highlight the ROI potential of higher budget allocation.
• Support companies in identifying cost-effective lead generation strategies that require less budget but produce high impact, such as content marketing.

 

3. Enhance Sales-Marketing Alignment

• Foster alignment through joint workshops for marketing and sales teams.
• Implement shared KPIs and dashboards to promote visibility and accountability.
• Shift the perception of marketing from a "support function" to a revenue-generating team.

 

4. Automate Lead Nurturing

• Invest in automation platforms (like HubSpot or Marketo) to automate nurturing workflows.
• Use drip campaigns and personalized email sequences to guide leads through the funnel.
• Encourage companies to track engagement with content to trigger personalized follow-ups.

 

5. Expand Use of A/B Testing

• Teach companies how to run A/B tests on email campaigns, landing pages, and CTAs.
• Encourage a "test and learn" culture where every campaign includes an A/B testing component.
• Companies with fewer resources should focus on small, quick tests to optimize lead conversion.

 

6. Embrace Data-Driven ABM

• Encourage companies to develop digital-first ABM strategies to overcome challenges with onsite events.
• Utilize intent data and predictive analytics to prioritize target accounts.

 

Please contact us for your ABM and Lead Generation campaign for the Korean and global markets.

Eddy Kim 

eddykim@mktgl.com