You may think that waiting a few minutes, or even a few hours, won't make much of a difference in your sales closure rate. The data shows a much different story about how much business you are losing with every hesitation.
Lead follow-up should be a top priority
It takes an extraordinary amount of time and money to generate solar leads, so implementing every lead follow-up best practice should be at the tops of your priority list. I know all too well what poor follow-up can do, as one of my core roles over the past few years was generating leads to be distributed to installation companies, free of charge. These high-quality leads, already exhibiting interest in the module brand, would typically sell for a few hundred dollars each through a lead service. Yet, without fail, dozens of leads a month would let us know that they never heard from their designated installer.
I'm sure you treat your leads better than not following up at all, but do you know how fast you should be responding? 1 day? 1 hour? 1 minute? I seems that many companies feel there isn't a drastic difference between each of these, but I'm going to show you data that says otherwise.
Any delay can cost you
Velocify (an excellent lead management tool) conducted a study of millions of leads a few years back and the results were astounding. They discovered that following up with a call within in just 1 minute resulted in 391% more sales than the average lead. That's five times as many sales made versus the average lead follow-up process. Let that sink in.
Continuing through the results, you'll see a near exponential dropoff with every minute delayed. After an entire hour, you are still doing good, but on +36% versus the average. 1 day later? Just +17%. And if that 24-hour turnaround is above average, I'm afraid to know what the typical response time is.
Why is this happening?
We now live in a world of instant gratification, where most people want a solution now, not tomorrow. Everything is Uber-ized. So, if you give your leads the time, they'll keep going on their research, creating leads all over the internet and waiting for calls. If you are lucky enough to get their attention later, you may now be involved in a multi-bid conversation that you could have had all to yourself with a well-designed lead follow-up process.
Need some help?
Need to analyze your lead data to find holes in your process? Need to implement a lead automation tool? Whatever your lead-related needs are, Solar Marketer can help. Send us a message about whatever you need help with.
Free Marketing Consultation
Need help with your marketing plans? Click below to send us your needs and we'll get back to you ASAP to provide a free consultation.