When it comes to responding to leads and generating new business, the importance of an immediate response is way too significant to ignore.
A study conducted by the PCMS Consulting and One Cavo indicated that:
Over 75% of real estate leads generated online were lost due to agents either not responding or responding too late (an average of over 4 hours after the lead was received). That is staggering, and not in a good way. This means that if you respond quickly, you will have the advantage over your competition especially considering that 78% of sales go to the first responder.
Although you may not be a first responder like the police or fire departments, losing leads is your emergency for your business. Response time is crucial, and sends two valuable messages:
- They’re important
- You care
Not only will you communicate two of the most important messages for your potential clients to hear, but there are other benefits as well:
- “Wow” Them
Although you may feel uneasy about calling so rapidly, most likely, when you call a lead back within a few minutes of them reaching out to you, you’ll receive a positive response. “Wow” them you’re your punctuality.
- Be Where They Are
Within 30 minutes, your potential buyer or seller have probably left your website and visited 10 more (possibly your competitors?). Reaching out to them in the first few minutes gives you a better chance of coming up alongside them and meeting them right where they are – at your website.
- Stay top of mind
Chances are, if they have visited 10 websites in the past 30 minutes, they’ve probably forgotten which ones they viewed 4 plus hours ago. But if you strike while the iron is hot, the reception you get in return will be more like, “Yes, I would like to see the home” instead of “You’re who from where?”
A study from InsideSales.com showed that the odds of contacting a lead by phone drops 100 times in the first 30 minutes, and qualified leads decrease 21 times after 30 minutes. This tells us that the time in which we contact a lead matters greatly with every passing minute.
Thankfully, our Select Business Development Group has developed a new “Speed to Lead” process and protocol to help guide you with Lead Response, Management & Conversion.
For more information on the “Speed to Lead” process and protocol, contact Select Business Development Group at 916-536-4254 or email Jennifer.Hawkins@selectgroupre.com. Classes coming to your sales meeting soon!
Written by James Halpern, Digital Marketing Specialist of the Select Group, and Jennifer L. Hawkins, General Manager of the Select Business Development Group.