What Is Speed to Lead? (and How to Improve It)

As a business owner or manager, turning your mind to the amount of potential profit loss that occurs through dropped leads can be staggering. Companies come at this issue from every angle. In the past, measuring it has been complicated and hard to fix.

What is speed to lead?

Speed to lead is the period between your organization getting an inquiry and you responding.

Let’s say a person requests a demo by filling out a form on your website. If you respond in 5 minutes while another organization takes 19 minutes, the organization that responded in 5 minutes has a faster “speed to lead.”

When we discuss speed to lead, we discuss closing the gap between a customer knocking on your door and that door swinging open.

You need to get that door open fast. You want a qualified and informed person to greet your customer when it does open.

Why is speed to lead important?

The internet is all about instant gratification. While customers are savvy, they have a short attention span. To build a better reputation and get out in front of the competition, it pays to respond to leads quickly.

Contacting potential customers in under an hour makes it seven times more likely that you will make a sale. You are 60 times more likely to make that sale than the company that waits 24 hours to follow up the lead.

The first response to an inquiry is always the best response. Too long is generally too late. Businesses that capture conversions that work across email, SMS, and their websites every time are easily coming out on top.

With new AI tech emerging, it’s wise to spend some money now to try and recoup your past losses and grab that future profit share.

We are living our lives online now more than ever. So, when your customer is browsing, hunting, or targeting your product, they generally have multiple options at their fingertips.

Savvy buyers expect a pleasurable flow from first look to delivery. When a user fills out an online form, they are investing time. Your response speed says everything about how much you recognize and value that time.

If you are running an optimum speed to lead process, you should be able to call your customer by their name and instantly walk them towards what they need.

With access to easily-installed software that has great service built into every step, you can elevate your business processes to convert leads fast, precisely, and with instant reporting.

Answering every call with the right name on your lips and a door that is already swinging open shows your customer that you are the only person for the job.

How software, automation, and AI can help

Recouping the losses incurred by dropping leads starts with automation. This means smart forms, instant call buttons, and SMS prompts that help your customers follow their first instinct. They click; you call; they convert.

On top of the huge losses you have been absorbing via dropped leads, many businesses are still using manual reporting processes that are hopelessly outdated.

If you can’t get clarity around what approaches are producing the best results across your sales and marketing offerings, how do you know where your best marketing spend lies?

Highly agile speed to lead software is hitting the market and revolutionizing ROI approaches.

For example, the software that is now available through Convolo provides businesses with online forms and buttons that connect their customers to salespeople with an active phone call within 55 seconds! Suddenly, online visitors are making real contact with real people in less than a minute.

You can now collect data automatically with software that informs you which online platform generated the lead, which widgets are working best, and the length of sales calls. Response time is all tracked automatically and the collected information is sent to a user-friendly dashboard that also records the call.

This new tech customizes your website forms to capture tailored information that is texted instantly to your sales representatives. As the customer hits the call button, a call is generated to their number, and your reps are already informed as to the exact nature of the inquiry.

First impressions are still key. In the current climate, agility is paramount. After all, when you instantly gratify your lead, you create a confident customer who wants to lean into the sales process.

How Convolo improves speed to lead

Imagine you are looking for a product in the city. You walk into a store and tell the salesperson what you want. They tell you they can help you if you give them some information. Then, they walk away.

If they come back to you in seven days, seven hours, even seven minutes later; of course, you have already left to find better, faster service.

Convolo’s new software can drive sales to your door in less than a minute. Your staff will be better informed and prepared. You will be utilizing every moment - and that efficiency is going to save you money from day one.

It’s a tough climate. Unless your sales team hits the ground running every time, you are bound to lose money. There is no real way to count the incredibly high cost of all those unfollowed leads. It is now possible to take back control of your profit potential.

With Convolo, your customer fills out a form, and the information is on its way to your sales rep in under a minute. Return on investment (ROI) can be evaluated more accurately. You can easily see where people found you and at what juncture they were moved to contact you.

For example, did they hit the phone button for an instant call back on your website? Are some of your Facebook posts getting a higher hit rate? Or, did your customer connect instantly with your agent through Instagram?

Your sales agents are no longer wasting time writing reports or trying to code a message to your marketing team that gets lost in translation. With Convolo, after every call, your agent receives a text message requesting a numerical response.

They hit a number (1-5) that activates your customized notification to let the marketing team know what the appropriate follow-up is. It’s all right there on the dashboard. You can collate data faster, pinpoint pain points, and roll out solutions quickly.

This new tech records every sales call, so your team can now backtrack and learn. By discovering what went right in a call, you can generate more positive responses from potential clients.

When you use software such as Convolo, your response time will amaze your prospective customers. You can call them by their name. You already know what they want and you have contacted them while they are still actively searching for your product or service.

The bottom line

Speed to lead is an underrated concept for sales teams to consider. However, it’s crucial. In such a competitive market and with so many options available, sometimes being the first to respond is all it takes. So, make sure you’re using the best sales enablement tools on your website to optimize your speed to lead.

No lead is out of reach with the smart AI tech solutions now available. Ensuring your customers can speak to you while you are on their minds is now a reality. You can customize every step of your in-house tracking for easy data collection.

Convolo is all about building highly responsive teams across the board, highlighting where your calls to action are working the hardest, and streamlining your feedback loops.

After a simple setup, your team will be free to work together to create precision marketing campaigns that increase sales and save you money.

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