Online Listings

Lead Conversion Rates Better When Response is Timely

By | 11.12.15

Lead Conversion Rates Better When Response is Timely

It appears that timing is everything when it comes to converting leads. A newly released study from the sales software firm Velocify found that sales conversions more than double when calls are made within the first few minutes of receiving a lead. However, while this may seem obvious, the study discovered that only 3 percent of leads are contacted within this window of opportunity, and more than half of the leads received are not contacted until 48 hours later.

The report addresses call frequency and the line between appropriate assertion and being too aggressive. Here it finds almost all leads (95 percent) convert by the sixth call, with 85 percent occurring within the first three. It recommends that voice messages be left when no contact is made but only two, one of which should be on the second call.

Voice messages left on the first and second call converted 21 and 31 percent higher (respectively) than other times, and messages left after the third call rarely, if ever, produced.

With emails, the study finds that the relationship between speed of response and conversion is not as critical, although most businesses respond to emails within an hour, due in part to more efficient automation, and the most effective number of emails is between four and six. However, most leads either received only one to three emails (53 percent), and more than a quarter (28 percent) did not receive any email response.

According to Velocify President and CEO, Nick Hedges, “Responding quickly and with the appropriate level of persistence not only ensures…maximizing revenue, it also establishes the foundation of a good relationship between buyer and seller.”

References:

MarketingCharts. “Speed-to-Call Important in Converting New Leads,” November 9, 2015

Velocify. “The Ultimate Guide to Inquiry Response,” November, 2015.

(Visited 35 times, 1 visits today)
Share on: Share to Facebook Share to Twitter Share to LinkedIn
Comments

Like what you see?
Get more free content.

Next Up In Online Listings

Want to Add Your Business to Bing? How to Get Found with Bing Places

Online Listings

Want to Add Your Business to Bing? How to Get Found with Bing Places

The secret is out! Google continues to dominate online search. (OK, that wasn’t really a secret, was it?) But...

Read More

[Video] The Smart Way to Use Keywords in Your Online Listings

Online Listings

[Video] The Smart Way to Use Keywords in Your Online Listings

Want to show up more often in searches? Of course you do! It’s not as easy as claiming your...

Read More

Last Minute Fourth of July Promotions With Online Listings

Local Marketing

Last Minute Fourth of July Promotions With Online Listings

The Fourth of July is just around the corner, and if you’ve landed on this page you may be...

Read More