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Out of millions of web pages on the internet, you managed to land on the correct webpage about speed to lead. In this blog, we will discuss how to improve your speed to lead. But before jumping to the main topic, let us first get informed about what is meant by "speed to lead."
Definition of Speed to Lead
The average time businesses take to respond to an inbound lead is called the "speed to lead." In simple words, "speed to lead" is the time it takes the company to respond after the customer has filled out the inquiry form.
Did you know that the conversion rate of a business increases up to ten times if its speed to lead ranges from 6 to 7 minutes? In other words, if a business responds within 6 to 7 minutes after a prospect becomes a lead, they are ten times more likely to convert them into customers.
Importance of increasing your Speed to Lead
No extra or lengthy content, and no explanation as well. Just three-pointers to explain to you why improved and increased speed to lead is very important for every business.
3 speed to lead statistics
- Businesses that worked on improving their speed to lead have experienced an increase of nearly 38% in their sale revenue.
- Businesses responding to their leads within 7 minutes are ten times more likely to convert them into customers.
- Surprising but completely accurate. The chances of a lead getting converted into a customer increase by 500% per cent In case a business responds to it within one minute of inquiry.
After reading the above speed-to-lead statistics, we are sure that you understood the importance of “speed to lead” for a business. So let us now discuss some important ways to help businesses improve their “speed to lead.”
Five most important ways to improve “speed to lead.”
Listed below are the five most important ways that lead to improved “speed to lead” when considered in an appropriate way.
- Attractively optimize your landing page.
- Use lead data enrichment techniques.
- Go for automatic lead scoring.
- Systematically assign leads to sales reps.
- Constantly track your speed to lead.
Here is some basic extended information about all the above-listed ways of improving speed to lead.
1. Attractively optimize your landing page
Attractively optimizing your landing page is the first and most important way of increasing your speed to lead and your conversion rate as well. An attractive landing page will directly motivate prospects to sign up as leads.
We are additionally listing some conversion rate optimization techniques for further guidance. Kindly prefer giving them a read-
- Have a clear Call to Action-
This point is a must for every landing page. A Call to Action button informs the prospects about their next step. In short, when clicked, a CTA button gets your prospect converted. Hence, your landing page should have a clear call to action.
- Try to make use of heatmaps-
Heatmaps will help you understand the different ways in which your visitors engage with your landing page. Basically, heatmaps help in determining the activities of your prospects on your landing page. By using heatmaps, you will get to know whether your visitors are filling out your inquiry forms or are clicking on your CTA buttons.
- Optimize your forms-
Optimizing in terms of forms means keeping them simple. A simple form will have a 60 percent higher chance of being filled out than a traditional or typical form. This is because different types of people visit your website. Clearly, it is more accessible for a prospect to fill out a simple form.
2. Use lead data enrichment techniques
Like conversion rate optimization techniques, lead data enrichment techniques are equally important and influential. These techniques will aid your sales team in the task of collecting and analyzing information.
It is essential for sales reps to know about their prospects before directly reaching out to them. Hence, it is essential to conduct background research on their prospects. This is where lead data enrichment comes into action.
Lead data enrichment will enhance your insights about your leads by combining first-party data with third-party data. As a result, the sales reps will get to know their prospects better and more accurately. Also, lead data enrichment will serve an additional purpose as well. It will directly reduce the research time the sales reps spend on their prospects.
3. Go for automatic lead scoring
Do you know what "lead scoring" is? Leads close to being converted should definitely be at the top of the priority list for any business. Prioritizing leads based on their conversion percentage is known as lead scoring.
Every business needs to identify the correct leads that need to be prioritized. Automated lead scoring will help with the same. Additionally, the time taken to score leads manually will also get reduced. As a result, sales reps will use that time to contact the prospects rather than list them down.
4. Systematically assign leads to sales reps
In an organization, there will be a lot of employees. The sales team will also consist of many people working towards a specific goal, namely, generating sales. However, each sales team member doesn't need to come from the same background. Some might have previously worked in service-providing industries. Some might be generating sales for a manufacturing company, and so on. Similarly, the same company will have a lot of prospects who will also have some particular background.
Now moving to the main focus- each sales rep will have strengths and expertise in dealing with a particular industry. Hence, it is very important for a business to identify the industry of each prospect and the strengths of their sales reps. After this identification is successfully made, specific leads should be assigned to sales reps who have previously worked with prospects from the same industry and successfully converted them into customers.
Setting up a sales team in such a way will positively impact the “speed to lead.”
5. Constantly track your speed to lead
You must have heard the statement- Consistency is the key. No doubt. It definitely is. In order to determine their drop-off points, it is essential for businesses to track their speed to lead constantly. This step can also be used as a determinant to monitor the team's progress. In addition, future strategies can be formulated based on the team’s performance to improve its speed to lead.
Conclusion
Speed to lead is an essential aspect on which every business needs to focus. These were the five most important ways to improve “speed to lead.” All these ways will definitely help your business increase its speed to lead.
This was all for today. Hope you enjoyed reading it.
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