Is the Five-Minute Lead Response Rule Actually True?
How many times have you filled out a form and the confirmation response was, “Thanks! We’ll get back to you shortly.” What exactly does ‘shortly’ mean? By sending qualified leads away immediately after they show interest, you’re pushing them towards the competition.
On average, it takes B2B sales teams 42 hours to respond to a new lead and 38% of those leads never reply back. It typically takes 4.3 days of back-and-forth communication before the first meeting even happens. Meaning, you have more chances of getting ghosted by your new opportunities the longer you wait.
Studies show that businesses who respond to leads in five minutes or less are 100x more likely to connect and convert opportunities.
Businesses who respond to leads in five minutes or less are 100x more likely to convert opportunities.
Industry Benchmarks for Speed to Lead Response Times
Overall, your lead response time is going to vary depending on your industry, sales organization size, and lead type. For example, you should be responding to higher-quality leads first and working down the queue from there. While you’re going to want to respond as fast as possible to every lead, here are a few industry benchmarks to keep in mind:
Healthcare: 2 hours and 5 minutes
Telecommunications: 16 minutes
Small Companies (1-300 employees): 48 minutes
Medium Companies (301-2500 employees): 1 hour and 38 minutes
Large companies (2501+ employees): 1 hour and 28 minutes
As you can see, most industries are not implementing the five-minute rule. The faster you can make your lead response time, the more likely you can differentiate your brand and get in front of your new opportunity to maximize your pipeline.