Blog

15
Feb

Did you Know That Your Likeliness of Closing a Lead Decreases by 6 Times After the First Hour?!

Lead-generating websites are becoming increasingly popular. When looking for information, decision makers turn to a lead-generating website 51% of the time. This number is more than double that for TV, radio, magazines and newspapers.

According to a study done by Omniture, if you contact a lead within the first hour, you are 6 times more likely to close it than if you had waited an hour. The study conducted by Omniture and InsideSales.com reveals the best strategies for businesses to practice when responding to online leads:

1. Email responses should be within the first hour.

2. Phone responses  should be within 3 minutes.

The study found that the average email response time for companies was 19 hours, 31 minutes and the average phone response time was 36 hours, 57 minutes. Clearly there are lots of companies who have bad strategies when it comes to following up on Internet leads.

How Soon Should I Call a Lead?

Another study done by M.I.T and InsideSales.com showed that delaying your first-dial response time from 5 minutes to 30 minutes decreases your chances of qualifying the lead by 21 times!

Is it Better to Follow Up on Leads on a Specific Day of the Week?

Another interesting finding is that Thursday is the best day to contact a lead in order to qualify that lead. Also, 4-5PM is the best time of day to contact the lead to qualify it but 8-9AM and 4-5PM are the best times to successfully get a hold of a lead. The worst time to get a hold of a lead was right before lunch.

The good news, according to Sirius Decisions, is that 80% of prospects who show an interest in your product/service will buy from either you or a competitor within 2 years. Having a prospect as a lead provides you with a great opportunity to show them why they should do business with you.

Omniture, InsideSales.com, M.I.T and Sirius Decisions just clearly proved this mathematically. Do you agree? Disagree? Why? Post a comment and let me know.