Source of Infographic: ResponseAudit
The Best Practices For Lead Response Management
The following information is based on research conducted by James Oldroyd and David Elkington, who is the CEO at InsideSales.com. Three years of data was analyzed of many different types of companies responding to leads generated by the web. Over 15,000 leads and 100,000 phone call attempts were part of this analysis to discover the best practices for lead response management.
One major question was focused on: How should companies respond to their leads for the best response? With the first phone call between the interested lead and the agent, the mission is of course to maximize the results and minimize the effort for the agent. The following study results are all based off of first phone call attempts.
Where to Start
1. The first thing to consider would be the best days to make contact. The best days to make contact and qualify leads tend to be Wednesdays and Thursdays, with a 49 per cent difference at 2,260 and 2,340 more leads from these first phone calls.
2. The best times to make contact would be the second thing to pay attention to. Between 4 o’clock and 5 o’clock in the evening tends to be the best time to qualify leads. 8 o’clock in the morning is the second best time to make phone call attempts. Calling late in the afternoon tends to have a 164 per cent difference.
3. Response time is also critical in this process. You should always go by the motto of get ‘em while they’re hot! To clarify, the response time is the amount of time it takes for a sales rep to contact an interested lead after they submit a web form.
Pick Up the Phone
With response time, the quicker the better. Lead qualification tends to drop as much as ten times after the first five minutes! The best time to respond is within those critical first five minutes, with a whopping 900 per cent increase in contact rates.
4. Persistence is also of vital importance! Did you know that over 30 per cent of potential leads are never even contacted at all? Reps can experience 70 per cent more contact just by trying a little harder with a few more call attempts.
You should always make a minimum of six call attempts. With the sixth call, you are getting a 90 per cent increase in the chance of contact. Most sales reps simply give up too soon on their leads, after just the second or third call. Keep trying and it will pay off!
5. Lastly, you should of course always audit your lead responses. Fictitious leads can be a problem. InsideSales.com can help with this with their ReponseAudit(™) feature. This service fills out web forms with fictitious leads in order to test quality and response time.
Remember that most companies actually throw away business because they are not responding properly to their leads. Do not be one of those companies!