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leads-get-cold-fast

A study by the Harvard Business Review investigated online lead response times for 2,241 U.S. companies. The study measured how long each company took to respond to a test lead generated from the Internet. The results were incredible showing that although 37 percent responded to their lead within one hour, and 16 percent responded within one to 24 hours, another 24 percent took more than 24 hours to respond. The most shocking statistic proved that 23 percent of the companies never responded to the lead at all. What makes this evidence so shocking is that online leads go cold extremely quickly.

The Critical First Hour

Statistics gathered by Lead Response Management looked at statistics collected over a three-year period to find the answer to this question:

“When should companies call web-generated leads for optimal contact and qualification ratios?”

The answers were eye-opening. There were several factors that affected the conversion rate for lead response. However, this fact practically screamed out:

The odds of calling to contact a lead decrease by over 10 times in the first hours. The odds of calling to qualify a lead decrease by over six times in the first hour.

The first hour is crucial. If you respond quickly to an Internet lead, you have a significantly better chance to convert. The next finding is even more amazing:

The odds of contacting a lead if called within five minutes versus 30 minutes drop 100 times. The odds of qualifying a lead if called in 5 minutes versus 30 minutes drop 21 times.

900% Increase!

To put this in another context, this study compared the difference in reaching a lead if you called them back within 5 minutes versus 10 minutes. The findings showed that if you call a lead back within 5 minutes, you have a 900 percent increase in contact rates. It is patently clear that if you can reach your prospect with 5 minutes after they post their query, you have a giant-sized opportunity to close that lead.

After the first hour, you opportunity diminishes exponentially. And after 24 hours, you have lost the momentum altogether. The LeadActivate system can get you to those prospects within the 5-minute time span to close that lead.

If you want to learn how to close the response gap try our free lead response demo or signup for a Free Starter Plan to see how LeadActivate can help your business.

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the-five-minute-lead-window

What would you say if it was shown that your company is throwing away over 70 percent of its leads on the Internet? You would probably say, “baloney.” Then, when realizing the figure was true, you would likely say, “Who needs to be fired and how do I fix this?” The answer is simple but amazingly challenging for many companies trying to operate and generate sales online. According to an article on Forbes this is one of the biggest black holes in online lead generation and sales.

response-time-from-creation-by-5-min-increments-initial-dals-to-leads-that-become-contacted

When a lead occurs online, there is a magic window that exists to connect with that lead and convert it to a sale. Responding back a day or a few days later is far too late. In most cases the lead has already moved on to another company or found a substitute for a need. Instead, the magic window is likely in the five minutes that exist immediately when a lead has a question.

Unfortunately, most companies don’t want to commit the resources to respond right away to online inquires. They shove it to an assembly line that gets serviced hours and days later like a complaint callback number. Who wants to hear from that? And that’s assuming the lead even gets called back. 73 percent of leads end up being ignored altogether, establishing a “wonderful” reputation with an absolutely pathetic response treatment.

Instead, companies can generate activity and response on as much as 92 percent of online leads simply by responding in the moment as the lead has a question or makes contact through a company website page. However, it has to happen in the first five minutes. There is a dramatic drop off of consumer interest or attention once the response gets to the 10 minute range or later.

So if you want to turn your online sales around and generate a true digital response, connect with LeadActivate. We can even provide a free demonstration as to how to connect in the magic window 5 minutes and connect with 9 out of 10 leads successfully. There is so much being lost with traditional lead response taking as long as two days to happen. Don’t stick with the pack; get ahead of them and try our intelligent lead router that will have you responding to inbound leads in 20 seconds.

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