See how much revenue your lead response time costs you each month, and what answering every lead in under 5 minutes is worth.
Every lead you answer this late costs you about $150 in sales you would likely have closed. An instant text reply on every form is the cheapest fix you can make this week.
Monthly revenue from the same 100 leads, answered at different speeds.
The time between a lead coming in (a form, a call, an ad message) and someone from your business actually reaching that person. It is measured in minutes, and for most businesses it is the cheapest sales number to improve.
Under 5 minutes. A 2011 Harvard Business Review study of 2,241 US companies found firms that reached out within an hour were nearly 7 times as likely to qualify the lead as firms that waited longer, and over 60 times as likely as firms that waited a day. The average response time in that study was 42 hours.
It treats your close rate today as the result of your current response time. It then estimates the close rate you would get answering within 5 minutes using a drop-off curve: a lead answered in 1 hour closes about 55% as well as one answered in 5 minutes, and one answered in 24 hours about 38% as well. Extra customers times your deal value is the revenue you are leaving behind.
They lean the other way. The published research shows gaps of 7x or more at the one-hour mark. We use under 2x, so the figure here is one you can defend to a partner or an accountant. Your real gap is probably larger.
More than for forms. A call that goes to voicemail is a lead with no response at all, and most callers dial the next business on the list instead of leaving a message. Count missed calls in your response time, not only web leads.
Send an instant text reply to every new form lead, route leads to a phone that rings instead of an inbox someone checks later, and have calls answered after hours by a person or an AI receptionist. Then check your average once a week so it does not drift.
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