There are proven artificial intelligence solutions and technologies to help you BOTH increase your company’s revenues and cut your costs. With the current volatile global economy drastically affected by the US tariffs, we could all use some increased revenues and cost savings! Lol!
One key area where A.I. has proven to consistently increase a company’s sales results and revenues is in – “Speed to Lead”. Speed to lead is an age-old concept developed over decades of telemarketing campaigns research. Not familiar with it? Well we’ll explain more…
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Speed to lead is the elapsed time between a potential customer expressing interest and the first response from the company.
Speed to lead refers to the time it takes your company to respond to a lead after they’ve expressed interest in your product / service (i.e. filling out a contact form, requesting a demo). It’s essentially the lead response time, and is a key metric for sales success. A faster speed to lead is proven to significantly increase the likelihood of converting a lead into a customer. When a prospect expresses interest, their purchase intent is high. Every moment that passes before you respond can diminish that interest, potentially leading them to go to one of your competitors.
Here are some key Phone Study Stats: ‘Speed to Lead’:
- The ‘5 Minute Rule’: Leads are 100x more likely to respond if contacted within 5 minutes after contacting you compared to waiting an hour.
- Responding within 5 minutes is 21x more likely to convert a lead into an appointment or sale. After 5 minutes, the odds of qualifying a lead drop by a whopping 80%!
- 1 Minute Response: Responding within the first minute can boost lead to appointment conversions (LTA%) by 391%.
- Lead Response Rate: With most companies, only about 27% of leads ever get contacted!
- First to Respond: 78% of customers buy from the company that responds first!
- Missed Responses: Missed responses cause 30% of leads to turn to your competitors.
How to calculate your ‘Speed To Lead’:
Measure the time from the moment a lead is generated (i.e. form submission) to the first contact by a sales rep.
Ex. A lead fills out your sign up form at 12pm. Your sales team calls them back at 1:30pm. Your Speed to lead is 1 hour 90 minutes.
The above example is common in a lot of companies. As a matter of fact, many companies take even longer to call back leads! Sadly, some never call the leads back at all! When asked why they allow this to happen, usually the excuses are “we were so busy that we didn’t have time”, or “we didn’t have anyone available to call them back”, etc.. Whether the excuses are valid or not is irrelevant. The bottom line is the sale has been lost.
The solution? Artificial Intelligence Voice Agents. We’ve solved this problem for all of our clients by developing a unique strategy (which you won’t divulge completely here appear yet we’re happy to do so on the live demo). We use a combination of inbound and outbound AI voice agents to contact ALL Leeds within 5 seconds and book an appointment on our client’s calendar!
Here’s how it works: we integrate an A.I. voice agent into the web forms on your website, all of your landing pages as well as attach it to your inbound business phone number. Next, we train it to be able to contact all of your leads, engage with them and book them as an appointment with your CRM or on your calendar. This works for you 24 hours per day, 7 days per week, 365 days per year. Which means all day every day A.I. is working to do nothing more than increase your speed to lead time and oftentimes more than doubles your current lead to appointment conversion ratio (LTA%).
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Doing this will MORE THAN DOUBLE your sales revenues even if all your numbers stay exactly as they are! You can see this in action with our ‘LTA calculator’ (Lead To Appointment) in our previous blog post by clicking here.
There are other strategies as well to use to increase your speed to lead leveraging A.I. and SMS. Yet we’ll cover this in another blog post. Bottom line, your business can literally be transformed for the better where you can not only double your sales yet cut costs by up to 90% by strategically designing and leveraging A.I. solutions into your business. Of course, this only works when you’re teamed up with trained and experienced business growth experts like us 😉
Like to know more? Contact us for a 15 minute A.I. for Business Consultation & DEMO.
