Lead response times: do they matter?
Do lead response times matter? And is quicker really better? We’ll explore all things B2B lead response times in this blog.
You’ve worked hard on your lead generation, nurturing, and everything in between. So what’s the best way to play it when you get a response?
B2B lead generation isn’t like a first date – you don’t need to play it cool. Speed is of the essence when you’re responding to B2B leads. In fact, a few hours – or even minutes – could make all the difference between converting them or losing out to a rival.
What is a lead response time, and why is it important?
Putting it simply, a lead response time refers to the metric of the time between when a lead contacts your business with an enquiry, and when you act on it. Acting on it may mean an email, a phone call or a direct message, introducing your company, how you can help, and putting your product/service forward as the solution.
“But as long as I get back to them within a reasonable time, this should be fine, right? They don’t want to be hounded.”
You might wait before texting your date back, but when it comes to B2B leads, the quality degrades over time. Strike while the iron’s hot and grab their attention while they’re in the buyer’s mindset.
A super-fast response time not only looks like you’re incredibly organized and goal-orientated, but proves to the lead that you’re willing to prioritize them. Attractive, right?
And then there’s your rivals.
Responding within five minutes maximizes your probability of being the first with your foot in the door. Any longer than that, and you leave the opportunity wide open for the competition.
Whilst your competitor may not be the perfect fit for this lead, have the same experience as you, knowledge or patience for the job, they may just have been faster than you. Don’t take that chance, because some B2B buyers are looking for convenience above all else.
According to Velocify, responding to a lead within one minute has a 391% improvement on lead conversion rate 😱. And Chilli Piper found that 50% of B2B buyers base a supplier’s compatibility on response rate alone. So keep up!
Lead response times and buyer behaviour
The digital world has changed the way consumers and potential clients view your business and services, forever. Gone are the days that people would blindly trust brands at their word.
Now, consumers have access to thousands upon thousands of educational resources at their fingertips, providing them with a wealth of information, tips and tricks on your services. They’ll be ready to swipe left in an instant, so you’d better believe that when they finally approach you:
- They’ve done their research.
- You’re not the only one they’ve approached.
So how can you make sure you come out on top? Be. Ready. In a time when instant gratification is everything, being hot on your toes and ensuring a lightning-fast response time is paramount.
How to leverage the buyer’s mindset
Three things will allow you to take advantage of the buyer’s mindset: speed, knowledge, and clarity. Know what you’re talking about, and execute clearly and quickly. Have a goal in mind and know how you can sell it.
Having an elevator pitch at the ready is the perfect answer to this. Not only is it an excellent way to aid speedy replies, but it also ensures that you’re getting across all your information in a structured, thought-out manner.
How to increase your lead response time
We get it, sales is fast-paced. A bit like speed-dating. That’s why it’s crucial to use the right tools. Outbase shows your sales results in real time and gives you the tools to manage and nurture your leads.
Explore new markets, segment data, and build campaign-ready audiences, along with building your sales process and benchmarking against industry performance stats.
See how Outbase can skyrocket your outbound sales campaigns and deliver ROI faster.
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