You will find a huge number of articles on Lucep about fast response, and how it helps qualify leads and generates more conversions. But now we want you to hear from sales experts and business leaders about how fast response to leads also helps build brand trust.
Lucep is expanding in markets foreign as well as local, and our own sales process is steadily maturing as we transition from new customer acquisition marketing campaigns to brand building. One online branding strategy that is particularly useful to us is influencer marketing through globally renowned sales experts.
In order to replicate this kind of expert positioning offline, Lucep is organizing a series of panel discussions that bring together sales experts and successful business leaders in each market to discuss sales issues, challenges and best practices.
One such event was recently held in Bangalore, India at the BHIVE Workspace. This “Sales for Startups” event gave us a lot of actionable insights into the sales challenges that startups face, and also brought to the fore many innovative solutions to these issues. We’ll be publishing a series of posts based on data, expert advice and insights collected from these events, starting with this one on the benefits of fast response.
The video clip below shows Lucep Co-founder and Director for Marketing & Sales Zal Dastur asking this question to Sumukha Rao, CEO and Managing Director of software test automation company Ta3s.
Zal Dastur, Lucep: The question that I have, for you as well, Sumukha, would be that, in terms of, have you found a quick response for being able to engage with a customer when they are interested in your product to be useful to you.
Sumukha Rao, Ta3s: Look, definitely yes. The first person to pick up the call is, you know, customer calls you because there is a pain. He does not call you just for the heck of calling you and finding out what you do, right? His intention is that, he has a pain. He has looked into social media, Googling and so on and he has found out that your company is actually doing certain things which may interest him, and that’s why he has called you. Now he is not…remember that you are not the only person whom he is calling. There is a lot of set of other set of organisations who are also there in the industry today. So reaching out…when they reach out to you, your speed of response and giving them the right information up front, actually builds up that trust and confidence, you know… of your brand with him.
And if you miss that there is somebody else picking at, picking up, you know…The speed of response definitely matters. Within my own organization its a, you know, we don’t let out a call or email being answered, you know, no later than half an hour.
Zal Dastur, Lucep: Fantastic, half an hour, that’s…that’s quite an impressive turnaround for a lot of companies.
Lucep has tons of other data, reports and case studies to back up this assertion about how fast response will help you accelerate sales through brand building, in addition to the direct surge in lead generation and conversions because you qualify leads before the competition even has a chance to talk to them.
For example, one of our recent posts provides case studies about how to increase sales with a click to call widget. This post includes a complex sale case study wherein the sales cycle of social media aggregator and content curation platform TINT was cut short from 25 days to about 22 days when the company decided to try fast response to sales leads.
Similarly, another recent post explains how Lucep client Evoma managed to improve their lead management process and follow-ups to leads by integrating cheap click to call with their existing backend.
Lead Response Statistics Highlight Benefits of Fast Response
In an ideal world, every business would respond instantly to every sales lead in order to take advantage of these benefits. But it doesn’t happen to a vast majority of leads. In fact, this is what the real situation is like (source – Forrester Research), in terms of email lead response:
41% – Percentage of consumers that expect an e-mail response within six hours;
36% – Percentage of businesses who manage to respond to every consumer email within six hours;
21% – Percentage of businesses who manage to respond to every consumer email within 24 hours;
14% – Percentage of businesses who never respond to consumer emails.
Just to sum up what all these businesses that respond late or never are missing, take a look at these stats highlighting all the benefits you can expect from fast response:
47% – Increase in lead generation from instant response (source – Lucep.com);
72% – Increase in lead conversion rate from instant response (source – Lucep.com);
7 times – More likely to qualify a lead if you respond within an hour, as compared to those who respond after yet another hour (source – HBR.org);
60 times – More likely to qualify a lead if you respond within an hour, as compared to those who respond after 24 hours or more (source – HBR.org);
100 times – Greater chance of making a successful contact with a lead within 5 minutes of the query being raised, as opposed to trying to contact after 30 minutes (source – Insidesales.com);
21 times – Greater chance of the above lead entering the sales process if contacted within 5 minutes (source – Insidesales.com).
63% – Percentage of buyers who give their business to the company that responds first (source – Lucep.com);