When Qualifying Leads from WEBforms - Time is of the essence
A prompt response to answering a phone inquiry is a must. Same as when you are responding to a live chat request. Certainly if you intend to maximize your inquiry to lead conversion ratios.
But, what happens when someone fills in a WEBform?
It is fair enough to assume that someone who does not call or respond to a chat prompt has a less urgent need. However, that does not mean there is no gold to be mined from these prospects. And ignoring such prospects - or not responding to them quickly and professionally can account for a significant loss in business.
Allow me to share some metrics based on ETI’s cumulative client’s experience over many years:
First it’s important to note that as a best practice ETI prioritizes all inbound WEBform inquiries by making a contact attempt as soon as is possible. Mostly we contact some 40% in the first business hour, and then an additional 40% in the second business hour. All will have been called within 4 business hours.
- 19% of conversions into Highly Qualified Leads (HQL’s) will occur within 1 business hour
- An additional 27% in the following 3 business hours
- And an additional 34% in the next 14 business hours
This means that 80% of the conversions will occur within 18 to19 hours of the inquiry being received by ETI.Fast response times are therefore is clearly of the essence. The longer you take to reply to an inquiry the lower the likelihood it will convert into a High Quality Lead.
So what is the explanation?
- Your competition might have moved faster - leaving you in the proverbial dust.
- It may also be that by the time you get to the suspect/prospect they’ve already moved on and the urge or motivation they had (or search entered) is not “top of mind” any longer.
- Or it could be as simple as all they were looking for was some information and the need to buy or engage was actually low.
In addition it’s important to note that the Business Developer (BD) should be smart and nimble and able to engage the prospect in a consultative conversation. Someone who has also been carefully trained to control the conversation in a friendly manner to peel away the onion and uncover the prospect’s buying potential. Such a Business Developer should be capable of guiding prospects to a purposeful conclusion.
This is generally this is not achievable in a highly structured and scripted environment.
Users of Marketing Automation Platforms (MAP) should note that results before and after implementation of a MAP system and found that waiting for a suspect's score to rise because of some website activity or email, has little to no impact on the ultimate conversion ratio. So delivering and or tracking content consumption has its place (and value), but it does not necessarily change the inquiry to lead conversion ratio to any great extent.
- Once you receive a WEBform inquiry you need to make sure to have the resources to immediately touch/contact the prospect
- Our best practice is an initial touch within 4 business hours
- Finally your best conversion ratios will occur is you engage effectively and in depth.
For more information on ETI’s Lead Qualification and Lead Generation solutions please call 1.800.466.4ETI.