Why being first to call gets you the advantage over your competitors
A recent study by Velocify conducted an online survey of more than 1,000 adults in the US who had submitted an online form requesting information or expressing interest in a product. They found that 6% of all potential buyers submit online inquiries to a single company, with a significant majority submitting inquiries to 3 or more companies. What will get you the advantage over those other companies? Being the first to call (speed to call), and within the first minute. Not only does being the first salesperson to call, according to prospects, secure the advantage over the competition, but the chances of them converting was significantly higher within the first minute of connection.
A previous study found that a phone call to a new prospect within a minute of lead generation, or speed to call, improves conversion rates by 391%. This still holds true. Data from Software Advice also found the importance of calling leads quickly, with qualification rates falling with each passing second.
Speed to call improvements also improve qualification.
B2B buyer Behavior from more than 6 million unique visitors to its website was analyzed. It indicated that after a buyer converted on the site, calling the lead within 5 seconds resulted in a qualification rate 30% higher than average. That rate then dropped with each proceeding time interval, down to 12% above-average for leads called within 31 seconds to 1 minute. The qualification rate was 10% above-average for calls made between 1-2 minutes after conversion.
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Also, Velocify and PossibleNOW’s survey found that 72% believed that the first company to call them (speed to call) had an advantage over the competition.
However, not all leads should get a quick call. For example, those who submit a contact form inquiring about a price quote or product demo should be called rapidly, but those who completed a form to access some material or content should be nurtured rather than called.
- Conversion and qualification rates are higher during the week than on the weekend. Wednesday being the peak day.
- Conversion rates are best during working hours, highest at 4PM (21% above-average).
- Qualification rates were highest from 9AM through 11AM.