Lead Response Times & Lead Conversion Rates – How Are They Related?
Business is a sport, and lead response time is a critical component in giving your sales team the competitive edge. It’s no secret that most customers shop around, often submitting multiple leads for products or services that they are interested in purchasing.
Lead response times make a significant difference to your conversion rates, and ultimately this will determine the return on investment from your marketing spend.
One of the best strategies you can implement to grow your business is to focus on improving lead response times.
When getting in touch with a company, there are two key sentiments that need to be acknowledged and addressed:
- Interest – This is when customers are browsing your store and find something they may have an interest in purchasing. This is the research and consideration phase of the buyer journey, and usually involves browsing websites, review pages, and watching videos to learn more.
- Intent – This is when people are actually looking to purchase. People move from interest to intent via your customer journey, which may include submitting an online form, using live chat for lead capture, engaging with a chatbot, or submitting a lead via social media.
The key opportunity for any business is to speak with customers as close to the point of enquiry as possible. At the time the lead is submitted, their intent and their interest are at their peak – So talk to them in the moment, not hours later!
At the end of the day, if a customer has submitted multiple leads to you and your competitors, would you prefer to be the first company they speak to?
Or.. Would you be happy to let 2 or 3 competitors speak to them first? Does lead response times make a difference to lead conversion rates? Of course it does!
Direct Connect gives you the opportunity to respond to leads within 60 seconds – Often allowing you to speak to someone while they are still on your website!
A recent study by Google suggests that over 50% of customers buy from the company that responds first! If you’re investing in lead conversion software to improve your speed to lead, then you’re potentially wasting a large portion of your marketing budget on leads that won’t be responded in time.
Lead response time is becoming an even more prevalent conversion factor in today’s fast-paced world. Having your audience wait more than 5 minutes may be costing you more than you think, and giving your competitors a leg up. Direct Connect gives you an unfair advantage over your competitors, your leads can be responded to within minutes, not hours – or even days!
Today, customers get in touch with at least three different companies for the same product – either for research or to make a purchase decision. The moment they do so, a race begins between you and your competitors.
Direct Connect offers a convenient solution to this problem by connecting all your contact forms to your phone. Your sales team can now respond to online leads immediately.
“The more responsive you are, the more trustworthy you seem – and nothing leads to better conversions and brand loyalty than trust!“
Integrating Direct Connect into your business is as simple as signing up. Check out our pricing to see which plan suits you best and start converting prospects to leads today!
Got questions? Book a demo call with our team!