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Promptness in Lead Follow-Up

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How much revenue do businesses lose when they don't follow up with leads in a timely manner? Conversica and Inside Sales share years of research on the importance that promptness plays when B2B buyers make buying decisions.

Check out the webinar at https://youtu.be/iz3IlcR67h0

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Promptness in Lead Follow-Up

  1. 1. Promptness in Lead Follow-Up How much revenue are you losing due to slow response time? Gabe Larsen VP Marketing Strategy InsideSales.com Carl Landers CMO Conversica
  2. 2. 2 The key research behind lead follow-up effectiveness Best Practices for Lead Response MgmtSales Effectiveness: Lead Follow-up
  3. 3. Poll Question #1 3 How quickly does your company respond to inbound leads? 1. Within 5 minutes 2. Between 6 minutes to 1 hour 3. Between 1 hour to 24 hours 4. Between 1 day to 1 week 5. Over 1 week
  4. 4. 4 Research results reveal that companies are missing the mark • Nearly 90% of companies aren’t hitting the 5-minute sweet spot • Nearly 60% of companies take more than a hour to follow-up • 1 out of 5 companies take more than a day Source: Conversica Sales Effectiveness: Lead Follow-Up report 2017
  5. 5. 5 B2C industries averaging faster follow-up • The Auto industry is doing well, with 28% of sales departments scoring an A in promptness and 22% of service departments doing the same • Education and Real Estate are on average more responsive than other B2C and B2B industries Source: Conversica Sales Effectiveness: Lead Follow-Up report 2017
  6. 6. 6 Promptness is improving, but not fast enough • 5% more companies hit the 5-minute sweet spot compared with two years earlier • 17% fewer companies take a day or longer to follow-up Source: Conversica Sales Effectiveness: Lead Follow-Up report 2017 2017 2015
  7. 7. Promptness pays in terms of lead contact & qualification rate 7
  8. 8. Timely response is the #1 reason buyers select a vendor 8 When B2B buyers were asked to rate the most important attribute of a winning vendor, 72% said the most important was “The timeliness of a vendor’s response to inquiries” Source: Integrate: The Cost of Bad Leads 2017
  9. 9. “Let’s wait for a few days to contact our hottest prospects” - said no one ever 9
  10. 10. “Let’s wait for a few days to contact our hottest prospects” - said no one ever 10 So, what stands in the way of following up promptly?
  11. 11. Example of a poor lead response process 11 Minimum inquiry to contact time Web Leads Access Reports Run report Open record Research Attempt Contact Contact Send Email Log a call Schedule a task No Yes Interested Manual Routing CRM 48 hour response time
  12. 12. Example of a good lead response process 12 Minimum inquiry to contact time Web Leads Prioritized List Views Lead Research Attempt Contact Contact Send Email & Leave VM Programmed Cadence No Yes Interested Marketing Automation CRM Automated Routing 1 hour response time
  13. 13. The 7 common Promptness pitfalls… 13 1. We need to figure out the right person to follow up on the lead 2. We need to score the lead, as not everyone should go to Sales 3. We need to verify and enrich the lead data before reaching out 4. The person who should follow-up is… • on vacation • out of the office • in a meeting • no longer working here • not interested in following up 5. We don’t follow-up with personal email addresses 6. The follow-up goes to the spam folder, so it looks like we didn’t follow-up at all 7. Lead follow-up isn’t my concern
  14. 14. Poll Question #2 14 Which Promptness pitfall is most likely in your organization? 1. Slow to figure out the right person 2. Slow to score the lead 3. Slow to verify and enrich the lead data 4. The person who should follow-up doesn’t 5. Lead follow-up isn’t my concern
  15. 15. Replying to leads within the first hour of inquiry – or even better, within five minutes – engages prospects while your company is still top of mind It’s not easy to consistently get an “A” in promptness 15
  16. 16. 16 How automation helps deliver world-class Promptness • The only fully-automated sales lead follow-up solution powered by conversational AI • The comprehensive sales acceleration platform that creates high-performance sales teams Conversica AI Sales Assistant InsideSales.com
  17. 17. Questions? Attend the next 30- minute webinars in the 4Ps series: •Persistence on 3/29 •Personalization on 4/12 See a live demo of Conversational AI following up on leads: •Fridays at 10 am PT The research reports referenced in today’s webinar will be sent in the follow-up email
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