The Mind-Boggling Statistics On Following Up With Leads Quickly

Maybe You Can Quadruple Your Business Simply By Responding To Leads Within 1 Minute? (If Your Business Relies Heavily On Lead Generation And Calls)

391% Within 1 Minute…

Velocify's analysis of roughly 3.5 million leads found that calling within 1 minute of receiving a lead increases conversion rates by 391%.

Source: Velocify's analysis of roughly 3.5 million leads.

HEY!—That literally means that a lot of businesses out there can QUADRUPLE their profits just by replying to all leads within 1 minute alone!

To try to do a better job at getting the point across, let me share some quotes from Alex Hormozi:

“If you can contact a lead within 60 seconds of them showing interest or opting in or giving you their contact information, you have a 391% increase in the likelihood that you can close the prospect.

“And so, that means that if you did nothing else, but simply put the processes in place so that you can contact leads within 60 seconds, you could 4X your business tomorrow!

“And so then you have to ask the question; what are all these other things that I'm spending my time on? And do those things have an immediate 4X increase in my business?

“If the answer's no, then you should probably stop doing those things and do this one obvious thing that can increase your business to such a large degree.”

— Alex Hormozi

“So, there's tons of research that suggests that you can 4 or 5X your conversion of leads by calling them within 60 seconds of them opting in, for any product you have.

“If you have all of these priorities that you have across the company. Does any of them have the high likelihood of 4 or 5X-ing your business immediately, with very low cost of doing so? Less so than just calling the leads within 60 seconds?

“If the answer is no, then by God, why are you not calling all your leads within 60 seconds?”

— Alex Hormozi

“I was recently talking to a business owner. He was closing 55% of his leads. Not shows, not calls, leads! Most people in his position close 10% of their leads.

“And I was like, dude, how are you doing that? Oh, uh, I pay one girl, full time. She has no other job but to call leads the moment they come in. That's it.

“And think about how crazy that is. If you call lead within 60 seconds, you have a 391% increase in sales. So that's almost a 5X. The cost of actually achieving that is the cost of one maniac that you have to pay to stop whatever they're doing to call the leads. That's it.”

— Alex Hormozi

100X Less Likely To Achieve Contact

If someone called a new lead in 30 minutes instead of within 5 minutes—they were 100 times less likely to get in contact with that lead. From 5 to 10 minutes alone, the dial-to-contact likelihood fell sharply.

Source: InsideSales.com / MIT Lead Response Management Study

21x Less Likely To Qualify

The likelihood of qualifying a lead if called in 30 minutes is 21 times lower than if called within 5 minutes. The likelihood of qualifying a lead if called in 10 minutes is 4 times lower than if called within 5 minutes.

Source: InsideSales.com / MIT Lead Response Management Study

The First Hour Matters Most

The likelihood of getting in contact with a lead when calling decreases by over 10 times in the first hour, and the likelihood of qualifying a lead when calling decreases by over 6 times in the first hour.

Source: InsideSales.com / MIT Lead Response Management Study

Best Days And Times

Wednesdays and Thursdays are the best days to call in order to contact and qualify. The best times to qualify are 8-9am and 4-5pm; 4-6pm is best to make contact.

Source: InsideSales.com / MIT Lead Response Management Study

The Average Business Response Time: 42 Hours

Source: Harvard Business Review: The Short Life of Online Sales Leads

23% Of The Businesses In The Study Never Responded To Their Leads At All

Source: Harvard Business Review: The Short Life of Online Sales Leads

The Response Distribution

In the study 37% of the companies responded within 1 hour, 16% within 1-24 hours, 24% took more than 24 hours, and 23% never responded at all.

Source: Harvard Business Review: The Short Life of Online Sales Leads

The old saying: “Money Loves Speed”—there's a lot of truth to that!

Another saying comes to mind: “The Fortune Is In The Follow-Up”

These statistics are SHOCKING! Imagine the tremendous competitive advantage someone could have simply from responding and following up with leads super quickly!

Does this mean that a complete newbie can perform better than experienced experts with decades of experience simply by responding super quickly to the leads that are coming in? My guess is that, in a lot of cases; yes.