How Speed to Lead Creates a Sustainable Competitive Advantage
When it comes to the go-to-market (GTM) race for your customer, your speed to lead – your lead response time – is often the single most important factor in winning or losing. Simply put, speed wins!
There are no second-place consolation prizes in your Sales and Marketing motions. Your company won’t reach its objectives and your representatives won’t hit quota by finishing second.
Consider the following speed-to-lead statistics:
78% of customers buy from the company that responds to their inquiry first (Lead Connect)
Businesses are 7x more likely to qualify leads when reaching out within an hour as opposed to just one hour later (Harvard Business Review)
Sales reps are 21x more effective when calling within five minutes of prospect first contact as opposed to calling after 30 minutes (LeadSimple)
Your odds of qualifying a lead decrease 80% after five minutes has elapsed (Vendasta)
You are 10x less likely to have leads respond if your outreach takes more than five minutes (LeadResponseManagement.org)
Companies experience a 391% increase in lead conversions when responding within one minute (Velocify)