Why You Should Pay Attention to Your Lead Response Times

May 15, 2018 | Marija Sekularac

How quickly do you respond to web-generated leads? A day later? Maybe a week?

It’s tempting to let the response time slide in favor of hotter or more urgent leads. After all, they already expressed interest by filling out a form, right? So they should still be interested by the time you get around to contacting them. However, “more than half of B2B companies still aren’t following up with leads-at all.

Insidesales.com conducted a study on web-generated leads and how to get optimal contact and qualification rates. Lead response time was by far the biggest and most surprising factor in a sales team’s success.

Why 5 minutes is the cut-off for lead response time

According to the study, your odds of successfully contacting a lead decrease by over 10 times within the first hour, and the odds of successfully qualifying them decreases by over 6 times within the same time period.

That figure is already shocking enough, but there’s more.

The odds of contacting a lead in 5 minutes versus 30 minutes drops 100 times, and the odds of qualifying a lead in the same situation drops 21 times. That 25-minute gap makes an incredible difference in your chances of converting a lead.

It all boils down to the speed of response. 90% of all companies didn’t respond in under five minutes. But just wanting to isn’t enough. You have to put the right people, processes, and tools in place if you want to perform at that high a level.

What you need to respond to leads in under 5 minutes

You’ll never be able to respond to web-generated leads effectively if you don’t have enough of the right people in place. Assess your team’s size and workload. Are they able to drop whatever it is they’re doing or have enough time between calls to respond to a web lead? If not, you may have to expand your team.

Also, take a look at the process for handling web-generated leads. Who receives them? How does the team know there is a lead in the first place? You want a process that has as few bottlenecks as possible so that the lead can flow smoothly from form to agent.

Let’s also talk about technology. There are many tools available that help sales reps respond promptly to web-generated leads by automating emails. When your business relies on calls (and should since calls convert higher), Retreaver’s Live Agent Call Initiation closes the response gap to less than 1 min. When your web lead enters their phone number and submits a form this initiates a call to your team of agents. When one is available and answers, they are prompted that a lead has submitted the form, and what their name is, and then connected to the visitor using their provided phone number. The only thing your agent needs to do is pick up the phone.

The studies show 5 minutes is the critical timing, and that may sound intimidating, but it’s very much possible—even easy—if you have the right tools in place.

Contact us if you’re interested in knowing more about Live Agent Call Initiation.