How long does it take to convert an inquiry into a qualified lead?

Based on my experience, I have always strongly held the view that the sooner a web submitted inquiry is followed up, the greater the likelihood of converting that inquiry to a new customer. This is not to overlook all the prior discussions necessary to determine the prospect’s potential as a qualified opportunity.  Then to obtain the buyer’s consent to meet with our client’s sales rep to see his presentation. In other words to show that he is sales ready.

Using data we collected over many years we analyzed the results by ¼ hour segments to see in fact what happened time wise. The graph below is the result.

 Speed to lead

Here you can see that about 80% of the qualified leads were completed within 1.5 hours - in one or more conversations with the decision maker.

As this analysis makes clear there’s is no doubt that speed of follow up is critical to a positive result.

Does this mean you should not invest time in making a few more follow up calls to qualify the rest? 

Maybe so if you’re selling a product for a handful of dollars.  Even a few hundred dollars. But when you’re marketing big ticket (complex) products or services there can be no doubt that investing in the “long tail” makes sense.

It’s also simplistic to looks at the results on their own. Why?  Because there is an inverse proportion to the sales potential.   i.e.  Short quick commodity type sales happen quickly.  Complex high ticket products and services are usually developed over time and require a well planned thought out lead nurturing effort.�

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