Chances are extremely likely that no matter how fast you are currently following up your web-generated leads, it isn’t fast enough for optimum results.
You may have heard the old adage that leads deteriorate over time and that is definitely the case, but they may be deteriorating at a much faster rate that you ever thought.
One analogy I heard is that leads are like produce and you need to follow up with them within 1 week, 2 on the outside if you want any chance of having that lead still be viable and turn into prospective business, but the reality is significantly more extreme than that 1-2 week timeframe.
If we stick with the food reference, an analogy that I think is a closer representation of turning a contact into a qualified lead is milk souring on the counter. How long does it take before milk goes sour if you leave it sitting on the counter? It happens much faster than the common 1 or 2 weeks that produce survives, and it turns out that the sour milk analogy is even too slow, especially for web-generated leads.
Are You Following Up With Your New Leads Fast Enough?
The faster you contact a web-generated prospect to turn them into a qualified lead the better. It is never too soon to contact them. The odds of qualifying a lead in 5 minutes versus 30 minutes drop 21 times.
How much effect would a 21x increase in the number of qualified leads have on the overall sales revenue and profitability of your small business?
I’ve heard the argument made that if you contact someone too fast you are going to seem desperate for their business, but this study shows the exact opposite is the case. It isn’t possible to contact someone too fast or too soon and have a conversation with them.
When they have just submitted an online form, if you respond quickly, the chances are high that they are still sitting at their computer and are not only available to talk with you but also still very much in the same mindset that caused them to contact you in the first place.
The sooner you contact a prospect and have that initial conversation with them, the higher your conversion ratio is going to be to turn them into a qualified lead as well as the higher probability that lead will turn into a sale and will enable you to generate more revenue for your business and do so at a much faster rate.
All the data that I have presented here is according to a study by LeadResponseManagement.org based upon data collected by the insidesales.com system and compiled and analyzed by Professor Oldroyd at MIT.
You can find their full study report here: http://www.leadresponsemanagement.org/lrm_study
I’d love to hear your thought and experiences in the comments below, and as always don’t forget a Like on Facebook or a Share so your friends can benefit as well.
Image by Hein Waschefort.