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Incredible First Hour Lead Response Time Statistics

July 17, 2014

Incredible First Hour Lead Response Time Statistics

in Lead Response,Sales


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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