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Is Your Lead Response Time Hurting Your Conversion Rates?

Posted by Margarita Yepes
on May 12, 2017 11:27:50 AM

persistence-2.jpgOne of the questions I really like to ask to our clients is “How fast does your team reply to a new generated lead?” Companies are spending big sums on acquisition marketing, marketing automation platforms, content, SEO, etc. only to discover that thousands of their leads are buried deep down in the CRM - and are now stone-cold.

Every minute that passes between a lead filling out a form and a sales rep making contact has a dramatic effect on the convertibility of that lead into a customer. Keep in mind that if you don’t follow up with your leads, someone else will (if they aren’t doing so already)!

Having solid lead response practices is crucial for both marketing and sales leaders to ensure that no lead slips through the cracks or goes unqualified. Follow these 3 best practices to increase your lead response time and close more sales.

 

IMMEDIACY

Being the first to respond to an inbound inquiry or form submission is vital, as it shows your leads that you value their time and business. It also increases the possibility of connection, as the lead is likely still at their desk with your brand top of mind.

The Lead Response Management Study shows that the chances of qualifying an inbound lead is 21 times higher when you respond within 5 minutes vs. 30 minutes, and 60 times higher than those who respond after 24 hours or more.


PERSISTENCE 

Every sales professional that works on prospecting knows that the chances of connecting with a lead on the first attempt are slim. Especially if you’re calling busy decision makers or influencers that typically need to be called several times before getting through.

You can respond immediately to an inbound lead but if you throw in the towel too early without making enough contact attempts, you still aren’t cutting it. In fact, research indicates that 80% of sales require five follow-ups, but the average salesperson makes only 2 attempts to reach a prospect. In other words, if you simply increase your call attempts to at least 5, you’ll be 80% more likely to close a sale!

THE RIGHT SYSTEM

Having the right process in place is key if you want to achieve your lead response goals.

Handle large volume of leads: If you’re generating new inbound leads but don’t have the capacity to nurture them properly, you’ll need to put in place a structured, follow-up strategy. Being able to integrate sales calls within your marketing workflows means you no longer need to rely on follow-up reminders or your client’s sales availability, as calls are automatically triggered and targeted by lead type and information.

Scale up sales outreach: When marketing invests in promotional campaigns or participates in events, you’ll likely see an influx of more leads than usual. Leveraging a dedicated team of on-demand sales agents that can scale up or down very quickly is critical in order to make sure each new lead is followed up with while they are still warm and with persistence. If you allow those leads to get cold, all those extra dollars spent on marketing campaigns or event attendance are lost.

Track cost of acquisition and conversion: Tracking marketing spend and showing the ROI of marketing activities remains a top challenge for our clients. A sales call software that integrates into the CRM is a vital way to link your marketing campaigns to your sales efforts. It’s also a great way to capture critical insights in real-time as to what issues your prospects are facing, the stage of the sales cycle each lead is in, the best times to call, lead segments, etc. to automatically optimize each conversation, improve marketing strategy, and allow you to close more sales.

 


Learn how to automate your lead response time to increase conversion rates with a Sales call automation software! 

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Topics: Outbound Calling

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