Previously, over on our LinkedIn page, we have discussed with our followers why we promise that the vendors in our network will respond to our users’ request for quote within 24 (business) hours. Put simply, the immediateness of follow-up is essential not only in terms of providing a superior user experience, it is absolutely necessary in terms of successful conversion. As a business centred on meeting the needs of our users in a more efficient manner, we are committed to securing successful outcomes for all who use CQA‘s services – both end users and vendors, alike. As such, our key promise of a 24 hour response time is not a arbitrary metric.
Studies show that the average company takes 44 hours to respond to a lead generated online, with 55% of companies not responding at all. When you consider that the same study shows that the best time to respond to these same leads is within the first 5 minutes of its receipt, it is indeed shocking that businesses are so lax in their approach to online leads. Is it then any wonder that businesses today find it harder to market and acquire new customers? Their own processes are letting them down. By the time the average business gets around to responding to a potential customer actively asking for their help, that customer has already taken their business elsewhere.
International sales expert, Grant Cardone advises “The faster [a business] can respond, the better chance of converting… The first company that follows up gets 50 percent of the business.” And the key to increasing your speed in following up with leads? “Utilise every communication tool you have available. Don’t just rely on phone calls. Email. Text. Send smoke signals and carrier pigeons if you have to. In fact, Cardone advises, “if you have the data to text a client within the first five minutes of contact, your chances of conversion go up almost 300 times.”
The evidence is clear: everyone’s needs in the buying cycle are met far more effectively and efficiently when the business that receives an online sales lead is swift to follow-up.