Companies spend billions of dollars every year on lead generation. However, despite the value businesses place on generating leads, only about half are actually responding to those leads. And even fewer are responding quickly. If you’re struggling to follow-up with leads quickly, a rapid lead response strategy might be right for you.
Failure to respond to leads, prospects, and customers quickly can have a measurably negative impact on your business’s ability to grow.
In this blog, learn key statistics about rapid lead response that show why “speed to lead” is critical for your sales.
Gathered from a wide range of sources, these statistics tell a clear story: responding to your leads as quickly as possible is incredibly valuable for your business.
Here’s proof:
- Companies that try to contact a lead within an hour of the inquiry are 7x more likely to have a meaningful conversation with a key decision maker than those who wait another hour, and 60x more likely than companies that waited a day or more. (Harvard Business Review)
- Target a 5 minute lead response time - or less! Conversion rates are 8x higher if you can respond in 5 minutes. (InsideSales)
- Rapid lead response is still a major opportunity. Just 7% of companies respond in under 5 minutes. (Drift)
- Another study found that less than .1% of inbound leads get a response within 5 minutes. (InsideSales)
- Almost 60% of all responses happen after one week! (InsideSales)
- And yet, some estimates indicate that 78% of buyers choose to purchase from the first company that responds. (Vendasta)
- If you’re investing in lead generation but not following up, you’re wasting money. In fact, some surveys indicate that more than 70% of internet leads never get a response. (Forbes)
After more than a decade of research into rapid lead response, it’s clear that responding quickly is a huge competitive advantage. It pays to be quick. However, it’s equally clear that many companies fail to respond to their leads quickly - if at all.
This is a systemic problem with major impacts to the bottom line. To us, that indicates that manual follow-up is simply not adequate for most businesses.
Want to learn more about “speed to lead”? Get our rapid lead response white paper for free!
If you’re not responding in just a few minutes, you’re wasting your leads. That means it’s probably time to consider new approaches.
Calldrip specializes in rapid lead response via phone and text using powerful, customer-friendly automation. See it in action here - no demo required.
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