Why five minutes can cost you 90% of your leads » SMEInsider

Why five minutes can cost you 90% of your leads

customer service

How long do you take to respond to a new customer enquiry? An hour, maybe? A day? A week?

If so, it might alarm you to find out that, if you miss the five minute window after that email pings into your inbox, the chance that you’ll never even get hold of that person again – let alone make a sale – increases by 900%.

So, do most companies strive to make sure they get in touch straight away? Far from it. Researchers at the University of Ohio and InsideSales.com found that, out of a sample of 2,241 businesses, 24% of businesses took more than 24 hours to reply to enquiries – while 23% didn’t bother to respond at all!

Companies are making big investments in order to obtain customer queries from the internet, and they should be responding at internet speed,” advised the team in an article describing their findings in the Harvard Business Review.

But what about leads that you’ve sourced yourself? Surely it doesn’t matter when you actually make the call?

Actually, it does. The difference in the rate of successful “lead nurturing” calls made on a Monday morning and a Tuesday afternoon is gargantuan – and the very best time to get in touch, by a considerable margin, is between 4pm and 5pm on a Thursday.

Want to know more about the science of following up on leads? Take a look at the infographic below, which breaks down the key takeaways from the study.

sales-statistics-infographic