Leads Called In Under A Minute Have Higher Conversion Rates

Solomon Thimothy - July 12, 2010

Speed-to-call is the largest driver of lead conversion in the first two minutes after the lead has been generated, and calls in less than a minute have a 391 percent improvement on average conversion rates.

The importance in speed-to-call and response time was found to be as the main lead conversion among business-to-consumer organizations, including best-in-class financial institutions, insurance carriers and higher education providers.

This research by Leads360, a provider in sales lead management software, shows that it is important for businesses to contact leads within seconds of an inquiry. Companies that provide quick responses have a large advantage over those that are slower to respond.

The study also found that leads called within one to two minutes converted 160 percent more than the average. If leads cannot be reached within the first few minutes, there is still hope. Leads called within 24 hours are 17 percent more likely to convert.

Finally, 88 percent of leads that eventually convert were called within the first 24 hours. This does not mean all of these leads convert within 24 hours, but that establishing a relationship as soon as possible is critical to conversion, no matter how long that conversion takes.

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