Dave was a contractor who specialized in home renovation projects. One day, he received a lead from a homeowner who was interested in renovating their kitchen. Dave was busy with other projects and didn’t have time to follow up with the homeowner right away.
He planned to call them back later in the week.
However, unbeknownst to Dave, the homeowner had also reached out to several other contractors for quotes. One of those contractors, Sarah, responded to the homeowner’s inquiry within minutes of receiving it. She asked the homeowner a few questions about their project and scheduled an appointment to visit their home and provide a quote.
Sarah is fast and she has a service answering her phone and texts.
By the time Dave finally got around to calling the homeowner back, they had already received a quote from Sarah and were impressed with her quick response time and professionalism. They decided to move forward with Sarah instead of Dave, even though Dave had more experience and a better reputation in the industry.
In this scenario, Dave lost the deal because he didn’t use the “speed to lead” method. By waiting too long to follow up with the homeowner, he gave other contractors the opportunity to win the project instead. This is why it’s important for contractors to prioritize responding to leads quickly and efficiently. By doing so, they can increase their chances of winning the project and build a strong reputation in the industry.
Speed to lead refers to the amount of time it takes for a business to respond to a lead or prospect who has shown interest in their product or service. It is crucial because it can have a significant impact on the success of a business.
Here are a few reasons why speed to lead is so important:
First Impressions Matter
The speed at which a business responds to a lead is the first impression that the lead has of the business. If the business is slow to respond, the lead may lose interest and move on to a competitor who responds more quickly. By responding promptly, a business can make a positive first impression and show that they are responsive, reliable, and professional.
Research has shown that the faster a business responds to a lead, the more likely they are to convert that lead into a customer. According to a study by the Harvard Business Review, companies that responded to leads within an hour were seven times more likely to qualify the lead than those that responded after an hour, and more than 60 times more likely than those that responded after 24 hours.
When a lead expresses interest in a product or service, they are likely to reach out to multiple businesses to compare options. By responding quickly, a business can reduce the chances of the lead moving on to a competitor. The longer it takes for a business to respond, the more likely it is that the lead will have already made a decision or lost interest.
Improved Customer Experience
Responding quickly to a lead shows that a business values their time and is committed to providing excellent customer service. This can lead to a more positive customer experience, which can help to build customer loyalty and increase the likelihood of repeat business and referrals.
Speed to lead is crucial for businesses because it can have a significant impact on their ability to convert leads into customers, reduce competition, and improve the customer experience. By responding promptly to leads, businesses can increase their chances of success and gain a competitive edge in their industry.
We built this in mind when we built BluePagesPro.
Tools like HATCH and CHIIRP and SINGPOST can give you leg up on your competition. With automation and phone services, you can be sure your leads are getting tapped on their shoulders very quickly.
Even if it is, “We are on the phone and will call you back shortly.” That can be enough to stop a prospect from clicking on the next phone number or Google listing.
Get some SPEED TO LEAD on your BluePage today.