Why is it important for companies to respond quickly to a prospect’s form submission?

7% of companies respond within five minutes of a prospect’s form submission while 50% don’t even respond until five business days later

Source
Drift

Topic
Remote B2B Sales

Year
2017

Slow response times to prospect inquiries can be a costly mistake for businesses. According to research, only 7 percent of companies respond within five minutes of a prospect’s form submission. Meanwhile, 50 percent of companies don’t even respond until five business days later.

This means that businesses that take too long to respond to prospect inquiries risk losing potential customers to competitors who are more responsive. In today’s fast-paced digital age, customers expect quick and efficient service, and businesses that can’t keep up may suffer.

However, businesses that can respond quickly to prospect inquiries have a better chance of closing deals. In fact, research has shown that companies that respond to leads within an hour are 7 times more likely to qualify the lead than those who respond after an hour.

One way for businesses to improve their response time is by automating their lead generation and follow-up processes. This can involve using lead generation software that automatically sends follow-up emails or text messages to prospects. Another way is by using chatbots that can engage with prospects in real-time and provide immediate assistance.

By implementing these strategies, businesses can ensure that they are responding to prospect inquiries in a timely and efficient manner, increasing their chances of closing deals and growing their customer base.

More 2017 Stats

Marketers are Now Experimenting with Buyer Engagement through Formats other than Form Fills: Thought Leadership (65%)

Organizations With Revenues Under $500 Million Have a Mean Cost Per Lead of Roughly $180; Companies With Revenues Above $500 Million Spend More Than Double That, at Roughly $430 Per Lead

Imagescape Saw a 160% Increase in Submissions When They Decreased Form Fields from 11 to a Mere Four

55.5% of Respondents Planned on Upping their CRO Budgets in the Coming Year

Bundled Nurturing Content Within a Resource Hub (Instead of Multiple Emails) Produced a 3X Increase in Lead to Pipeline Ratio

Referrals Have the Highest Conversion Rates of all Customer Acquisition Channels at 3.74%

Most Companies Spend Less than 5% of Marketing Budgets on Conversion Optimization

The Average Conversion Rate of Visitors Who Saw User Generated Content (UGC) is 161% Higher Than Those Who Didn’t

Writing your subject line entirely in upper case significantly reduces response rates by 30%

66% of Marketers use Video in their Lead Nurturing Campaigns

More Remote B2B Sales Stats

B2B customers use 10 different channels during their decision-making process

66% of teams were satisfied with the results that they are getting from using custom-recorded video in their sales processes.

According to a research conducted by Salesforce, 61% of sellers say it’s harder to sell virtually.

59% of sales reps said that adding custom-recorded video to their sales process increased their productivity.

Writing your subject line entirely in upper case significantly reduces response rates by 30%

78% of salespeople that make use of social media outsell their peers

Given the pandemic, almost 90% of B2B sales now happen digitally.

81% of Shoppers Research their Product Online before Purchasing

77% of B2B decision-makers prefer video meetings over phone calls with vendors

According to a Gartner survey, CSOs expect 60% of the sales force will remain operating virtual.

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