Web lead response target
When a lead comes in from your web site, the goal for all companies should be to respond to this active, real time lead within 5 minutes. If your phone was ringing from a new potential client you would most likely drop what you were doing and grab it. Each minute that passes, the chance of converting the lead diminishes exponentially. After 2 to 3 hours you can almost predict a 50% reduction in conversion. We have tested these principles with clients and even our own lead stats prove this.
50% of leads generated from the web die.
In a recent study we conducted, 100 companies were assessed for their ability to capture a lead from their web sites and respond. The numbers are staggeringly terrible. 31% of the companies never responded to the lead at all. The average response time was 5 hours and 32 minutes. The worst response was four days! The best was 2 minutes. 85% were over the 5 minute goal. This is a problem across all industries. It's an epidemic.
What are these numbers saying?
To me it says that companies continue to invest in their web site, social media, creative content and copy; marketing is working very hard to attract new customers. When a customer engages via the web the process to track and convert these visits is terrible. The process and tools do not support the goal.
What does this mean to the business?
Many studies have concluded that a potential customer is 60% to 90% of the way through the sales cycle before reaching out to your company. If you don't strive to hit the 5 minute goal you are missing out on new business. As this trend continues to grow your business development numbers will drop. This applies to all segments. B to B, B to C, Not for Profit, Member Management, Higher Education.
What can you do to fix this problem?
You need a way to drive your target client to your web site from social channels and other digital channels. You need a way to capture who they are when they land at your web site. You need the ability to nurture them without engaging sales too early. You need a way to track what is happening so you can adjust your strategy.
We use Microsoft Dynamics CRM to do these things. We use a web form integration to our CRM. We also use a
For more information please visit our web site and measure how well we respond to your inquiry.
For those in the Toronto Area, we are having an event on June 12th, 2015 where we will be teaching companies how to do this.
by CRM Dynamics Ltd.