Published by/Authors: Velocify
The authors say there are four considerations that should be factored into an ideal prospect follow-up strategy:
- Communication Channel
- Communication Timing
- Communication Persistence
- Communication Quality
Methodology: The authors have access to millions of data interactions between interested buyers and sales representatives. Plus, the company conducted lead response assessments for 20 companies over 22 days using virtual leads split between two lead sources: Purchased leads and website generated leads.
- 33% of leads never received a call
- 91% of the leads didn’t receive an optional number of calls
- 95% of the leads didn’t receive an optimal number of voice mails
Some facts they report:
Calling a lead within one minute of an inquiry more than doubles conversion rates, but only 7% of the prospects got a call in one minute. Nice chart here on response times.
They also report on:
- How many times should you call?
- How many voice mails should you leave?
- 80% of calls go to voice mail
- 90% of first time voicemails are never returned
- 82% of the voice mails need improvement
- What makes a good voice mail?
- Most email follow-up is too quick, too slow or not frequent enough.
- How quickly should you email? Seconds, minutes, hours, days weeks?
- How many emails should you send? Between four and six
- Emails speed is not as influential as email quality
- What makes a good email?
- 92% of emails need improvement!
- Conclusion: Inspect What you Expect.
Why it’s Important:
”This Velocify report is the most credible and significant study on what to do about sales lead response failures that I have read. Companies that precisely following this roadmap “without deviation” will significantly increase revenue and achieve their forecast, while simultaneously increasing their marketing ROI. This study points up the value of a sales lead management process.”
SLMA Comments: There are a lot of details in this report and it is a must read. Company presidents will be shocked by the results of the study. Marketing management will be frustrated and sales management will be more than embarrassed – guilty as charged comes to mind.
This report has been awarded the Sales Lead Management Association "Go to the Bank" stamp of Approval. Only articles, ebooks, research, podcasts or white papers that directly have an effect on revenue get this stamp.
- Sales Management
- Sales Managers
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