One of the most important aspects of any business is generating leads. Businesses cannot survive on word of mouth referrals alone, and running ads on television and in newspapers leaves businesses simply waiting by the phone for a call.
Luckily, since the social media explosion, businesses have been able to capitalize on the abounding user (and potential customer) base found on Facebook, Instagram, Twitter, and the list only continues to grow.
This has opened the door for businesses to use lead generation campaigns on their ads where users can simply input their name, phone number, and email address to learn more about a product or service that a business offers. This is how leads are generated.
Read: Are You Getting The Highest Possible Lead Conversion Rate?
But although the accessibility of potential customers and production of leads has increased exponentially, the fatal flaw remains: businesses aren’t contacting them fast enough.
The problem with not contacting leads fast enough is that waiting too long means that your prospect already forgot who you were and whether your business means anything to them.
More than 75 percent of customers seeking a product or service purchase from the first business that responds to them, according to a study by Lead Connect.
Furthermore, a study by Harvard Business Review found that companies who reach out to leads within an hour have a greater chance of having positive conversations with decision makers for a higher likelihood of sale.
In reality, however, less than 40 percent of companies respond to leads within even an hour.
More recent studies revealed that the expected response time is five minutes, which shows how quickly a potential customer really can lose interest and move in a different direction if they are not contacted right away.
This means that while you might have stepped away from the phones without actively checking your leads, you could be accumulating customers wanting to get in touch with you specifically, but missing the small window of opportunity to contact them before the other guys.
Fortunately, there are systems that your business can put in place to expedite its response time and be notified as soon as leads are received.
By downloading the Practina app, you can be notified the moment your ads generate leads so that you can have the fastest response time possible.