Wouldn’t you love a new way to make the selling easier?
This could be it.
Imagine a typical Monday morning.
You’ve just got a new email enquiry from your website.
You want to call the prospect back quickly, but you’re busy speaking to other prospects.
In the end, you call them later that day.
But you don’t get an answer…
The delay in your response time will make it harder to progress the sale. And that means it’s harder to make the sale.
Delay the callback and:
- You lose a chance to get ahead of the competition.
- You make it harder to get the prospect to pick up the phone.
- You slow the buyer’s momentum.
- You damage your chances of making the sale.
Your revenue will likely take a hit if you or your salespeople delay your lead response times consistently.
You need to make a change to make the selling easier.
It pays to respond quickly.
But how can you speed up your response times?
Let’s explore it more.
Your Response Time Is Way Too Slow
Leads from your website go very cold, very quickly.
When you get a lead via email, you need to act fast.
If you respond quickly and get the lead on the phone, studies prove you’ll get higher response rates compared to writing emails. You’re also more likely to close the sale.
So get them on the phone, keep the lead warm and make the selling easier.
Is It That Easy!?
Getting a prospect on the phone quickly is easier said than done.
But there are ways you can significantly improve your chances.
Most companies contact leads within 42 hours of them becoming a lead. – Harvard Business Review
Many firms are just way too slow at following up.
If all your competition follows the average and call leads back in 42 hours, then that alone shows you why it’s important to get back to leads quickly.
If you’re serious about increasing revenue, take the advantage that’s within your grasp.
Increase your lead response times.
How Quickly Should You Contact Leads?
The answer is ‘as quickly as possible’ and that should always be the goal of your sales people.
“The faster you contact your leads the more likely they are to close.” – Hubspot
Studies show that if you call someone in 5 minutes versus calling them in 24 hours time, you significantly increase the chances of closing the deal.
Only 4.7% of companies achieve the 5 minute window.
Why is 5 minutes the ideal time to respond?
It is of course easier to get someone to pick up the phone if you call them within 5 minutes. They are likely to still be tuned it to the activity and be available to talk, than maybe in 30 minutes time.
“Years of InsideSales.com lead response research confirm the odds of contacting a lead if they are called within 5 minutes are 100 times higher versus one called in 30 minutes.” – Source: InsideSales.com
How Important Is Increasing Revenue?
- You’re investing resources in marketing right?
- You want to do everything you can to close more deals and opportunities?
- And of course want to increase revenue?
If so, you simply must focus on increasing your lead response times.
Have a company wide goal to call leads back in 5 minutes and you will almost certainly increase your revenue.
Even if your entire sales team is busy, at least get someone to call the lead back within 5 minutes. It’s critical. You can always get a sales person to return the call later.
Does The 5 Minute Rule Work For Small Businesses?
I know a story of a company who implemented the 5 minute rule when they had just 7 employees.
They increased revenue by 6 times which they put largely down to this approach.
This shows you don’t need a large team to implement the 5 minute rule.
What Should You Say In That First Call?
The lead has only just got in touch with you via email.
They know your company name. Once they pick up the phone they’re likely to be very warm to talking.
Warmer than at any other time.
Don’t waste this chance.
But what should you say in that first call?
You have to be natural and helpful.
Don’t phone them up trying to sell.
Today the power is with the buyer, if they don’t like the way you come across, they’re going somewhere else.
Come across as a super helpful company. Help people find the information they need. Don’t be the company that’s dangerously desperate to make the sale.
Say something like: “Hi, my name’s John Smith calling from Acme. We just saw your enquiry come in about [INSERT PRODUCT/SERVICE] and I’m calling to see if I can help answer any questions? [If you’re not a salesperson then add: “And if I can’t then I know one or two people who will definitely be able to help.”]”
If you implemented this with the 5 minute rule in your business, just think of the affect it could have on you the people you’re talking to.
They’ll LOVE you.
And that will certainly make it easier to close the sale (as long as you keep the super helpful response up!).
How Can You Improve Lead Response Times?
You might have heard about the 5 minute rule before?
Maybe you concluded that you just couldn’t implement it in your company?
The 5 minute rule has the potential to 6x your revenue, but you need a lot of dedication to pull it off.
Does your team have it?
It’s a good idea to sit down and talk with your salespeople to find out what the shortest realistic response time is.
If it’s not 5 minutes, then what is it?
Agree on that time and look at ways to shorten it as time goes on. Introduce methods like getting other people to make the calls if a salesperson is available. It’s proven to work.
Remember that faster lead response times are in your control.
Get back to leads quicker consistently over time and you will increase your companies chances of more revenue.
Make the call.