Time is money, as the saying goes.
The longer you wait to respond to lead enquiries, the more money you lose through lost leads.
People don’t hang around waiting for you to begin your sales process. They’re shopping, and they’re shopping now.
You need to be ready to sell when your customers are ready to buy.
The facts on lead response
A 2011 Harvard Business Review study revealed some sobering facts:
- Only 37% of businesses respond to their leads within an hour
- 24% never respond at all
- The average lead response time (from those that did respond) was 42 hours
Combine these facts with another study on lead acquisition:
- When you respond to a lead in 5 minutes vs 30 minutes, your chances of qualifying that lead are 21 times higher.
The implications of these findings are clear:
The faster you respond to leads, the more sales you make.
A real world example
You need an accountant.
You find a few options after a Google search.
You call the first option. She looks like a good fit. Voicemail. ‘Your call is important to me, I’ll get back to you as soon as I can.’ You hang up. Who leaves a voicemail these days?!
You call the second option. Voicemail. Again. This time you’re told that ‘I’m away for a conference and will return on Monday.’ Hang up. Next option.
Your search for an accountant isn’t going well.
You call the third option. After three rings you finally get a response. This time a friendly human voice says ‘hello’ and asks how they can help. You explain your need for accounting assistance.
You’re asked a few follow-up questions about your problem and an appointment with the accountant is scheduled for the next day.
Your search for an accountant is over. Phew!
An easy solution to speed up your lead response time
As a business person, which accountant would you rather be? The two reliant on voicemail or the third accountant who immediately ended the caller’s search and began their sales process?
The third accountant didn’t have a receptionist working day and night, they used a lead response service.
A lead response service takes your calls 24/7, asks qualifying questions, and begins your sales process. The service allows you to offer a human voice rather than voicemail, which stops the buyers’ search for a solution. The deal is then ready for you to close.
When customers are interested in your service and call to find out about your business, don’t give them the cold shoulder. The research on lead response shows that your chance of making a sale rises exponentially when you respond quickly.
Speeding up the start of your sales process will help you capture more leads, fill your sales pipeline, and, most of all, help you provide a more human, friendly experience for your customers.