Lead response time is a metric that tracks the amount of money it takes a business to follow up with an interested lead.
This is one of the key metrics to track if you want to sell effectively because the time your sales reps take to respond to a prospect can have a huge impact on your success.
Why is lead response time important?
Your company’s lead response time can either boost your sales or kill them. When a potential buyer fills in a contact form, calls, or emails you, they are genuinely interested in your brand, product, or service.
At this stage, they will likely make a purchase if you follow them up correctly. According to the Harvard Business Review study, the life of online sales leads is short. Thus, the most effective follow ups take place within the first hour after a consumer has shown interest.