There is a famous saying in sales ” You can not improve what you cannot measure”. Statistically speaking, Lead conversion is determined 57% by the lead quality and 43% by lead response time. Therefore, Lead Response Time becomes an integral part of your businesses.
An effective lead response analyses as how much time your sales representatives take to get in touch with the qualified lead. According to a survey done by MIT, if the sales representative gets in touch with the qualified sales lead, it drastically decreases the chances of success.
On the other hand, [Tweet “If the lead is contacted within 5 minutes, the chances increase by 21 times.”]
In this present age of rapid connectivity, customers are omnipresent. They keenly analyse your website, promotional marketing content and email campaigns. Moreover managing your lead response time can boost your sales team confidence and can assure a more assertive conversation with the lead.
Therefore, if you are as convinced as us about the timely lead response, here are some tactics that would help you in a rapid lead response time thus resulting in sales success.
Integrate Sales and Marketing:
It’s a myth when people think that sales department can function independently without the assistance from marketing. In other words, Sales and marketing are “Birds of Same Feather”. Without their proper integration, it becomes difficult to convert leads as the leads can easily fall through midway. Therefore, organization should pass proper process defining how and when leads are transferred, so that each team can focus properly and work with authentic coordination.
Define Proper Parameters:
By coordinating with your marketing team, you can identify what is a qualified lead based on demographics ( statistical data) and their behaviour. This parameter will enable you to clearly figure out customer profiles and based on it, you can build a reliable sales funnel. With the marketing team sending only qualified leads (and nurtures the rest), sales teams can focus on the highest priority leads, loosening up bandwidth to connect with new leads more quickly.
A Step Ahead Every day:
Set your own benchmarks and try to get ahead of them every day. This mantra not only functions in day to day life but in Sales as well. Therefore, be your own competitor and push your limits to the extreme. If you try to constantly excel yourself, there is no one who can stop you. Try and establish authentic magnitudes on how quickly your sales team is following up on the qualified leads. After this, set short-term goals to minimize the time – frame. The closer a sales can get to the 5-minute mark, they are surer to qualify and convert the leads into customers.
Discipline your phone follow – up:
Perhaps this is the most important factor in curtailing your lead response time. The benchmark of calling every lead within 5 minutes is next to impossible. Statistically speaking, it takes about 7 dials before a sales person can make a success full contact. So to be realistic, plan well and plan ahead according to the priority and authenticity of the lead at your disposal. Moreover, you should have appropriate bandwidth to amalgamate all your needs and contact them well.
In addition to this, if you want some inspirations on how to close leads, follow the famous speech of Alec Baldwin from the movie Glengarry Glenn ross and your phone will be on the “ALWAYS BE CLOSING” theme.
Aligning Calling Schedule:
It’s a famous saying in sales that “Time of the day and day of the week matters”. Therefore, ensure that your sales team has an authentic calling schedule so that they can call the leads at the most appropriate time. This process will enhance your “Hit- ratio” and enable the sales team to generate more successful leads.
Let’s take some examples: Mondays and Tuesdays are not good days at all if you are going for the first meeting or doing your introductory call to your customer. Moreover, Wednesdays and Thursdays are considered as a better option with 3 – 5 (which are the lazy office hours) the best time.
Content is still the king:
A fast lead response doesn’t solely depends on a quick successful call, you must have some relative content on your website. Walter Mosely once said, ” A man’s bookcase will tell you everything you’ll ever need to know about him”. On this philosophy the organizations are working, as the content is the main channel to engage buyers with the vendors. Moreover, it also works as a useful source to understand what is going inside your lead’s mind.
Looking at the above tactics it’s understood that a faster lead response will allow your organization to visually see the opportunity and capture them in a comprehensive manner. Moreover, these tactics will enable your sales team to analyze the high quality and the most urgent lead and their behaviors. These would prove to be the key ingredients in finding their buying interests and relative activities.
So implement these amazing tips and make sure you are there up and ready for your next sales call or meeting!!
I am aware that it’s just a brief description on lead response time. Therefore pour in your inputs and suggestion in the comment section and make it a more comprehensive list.