Lead response time is perhaps one of the least talked about metrics. So what do you need to know about it? And why is it important to you?
What is your Lead Response Time (LRT)?
Your Lead response time is the length of time it takes for your business to follow up with leads after being contacted by qualified leads prospects from either inbound and outbound channels.
The longer you take to respond to your leads, the greater the chance they’ve already sought out your competitors!
Why should you care about lead response times?
Reduced lead response times means more sales opportunities. Even though connecting with a prospect is important, it’s even more significant to note that decreasing lead response times can help fill your pipeline will more sales opportunities. Not only will you beat out the competition as the first to respond, your team will also be the first to qualify the prospect. In fact, those odds are 21x greater when lead response is 5 minutes versus 30 minutes. You can see where calling while the lead is still hot can have a huge impact on sales results and your company’s bottom line.
Check out the stats!
72% of B2B customers say that a response time is the most important attribute
21x more success at qualifying a lead if your LRT is > 5 minutes compared to > 30 minutes
50% of inbound leads are most likely qualified leads
70% of the buying experience is dependent on how the prospects are treated
The benefits!
Increased sales
Qualified leads
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