Category: Lead Response
Don’t Invest in Marketing and Then Squander it in Weak or Nonexistent Lead Response Protocols
Over the past couple of decades the expectations of people who request information about a company’s products and services have changed. Back in the day when people mailed in their requests, they expected it would take several weeks to receive a response. A month was on the long side and within a week was exceptional.
Then the emphasis changed to phoning in requests, with people having faster expectations. A week to respond was too long, while the next business day became the new standard, with a same-day response, viewed with awe.
Next came email as the main request channel. Then people expected a same-day response. While a next-day reply became passé, a one-hour response earned respect.
“Now that most leads are generated online, the expectations are ratcheted up another notch,” says Adam Berkson, president of LiveVoice, an omnichannel 24/7 customer support company, which specializes in lightning-fast lead response service. “One hour is now too long, with five minutes being the goal of many companies.”
Consider these lead response stats:
THIRTY VS. FIVE
A recent Kellogg Study compared a five-minute callback time to a thirty-minute callback time. What difference does twenty-five minutes make? As it turns out, plenty. Kellogg found the chances of connecting with a lead increases a whopping 100 percent when the prospect is called within five minutes of making the request compared to thirty minutes. “Viewed another way,” says Berkson, “a twenty-five minute delay in making the first call cuts the success rate in half.”
BE THE FIRST
In looking specifically at the real-estate market, the National Association of Realtors proved that being first is what matters most. Their research revealed that almost two thirds of buyers (64 percent) and sellers (66 percent) decide to work with the agent they talk to first. “I can’t overstate the importance of being the first one to talk to a prospect,” said Steve Knight, senior VP of client services at TeleServices Direct, a worldwide provider of outsource call center services. “If you’re not first you automatically start at a distinct disadvantage.”
BE FAST AND BE FIRST
Combining these two findings suggests a third conclusion: to be fast in responding and to be the first to do so. A study by LeadQual confirmed this. They found the most important driving factor of lead conversion is response speed, while also being the first business to make contact with a lead increased conversion outcomes by 238 percent.
“The easiest way to be first,” states Berkson, “is to be fast.” But just how fast is fast enough? While five minutes is a laudable intention, LiveVoice beats that goal five times over. “Our aim is to respond to our clients’ leads within sixty seconds, a mere minute.”
While today’s prospects expect a response within an hour and hope for five minutes, the new gold standard is LiveVoice’s one-minute response time. “It’s a goal that’s hard to beat,” concludes Berkson.
LiveVoice understands how important every call is to your business. Contact them about customizing their flexible, premium phone support service so you can turn opportunity into profit.
Peter DeHaan, PhD, is a freelance writer, call center authority, and publisher of Connections Magazine, which covers the call center industry.