Speed To Lead: What Is It And What Sales Are You Missing Out On?

Ever heard the saying, ‘The early bird gets the worm’? 

Well, in the fast-paced world of business and sales, it's not just worms we're after. It’s something much juicier: customers, sales opportunities, and business success. 

Welcome to the thrilling race known as ‘Speed to Lead,' where promptness isn't just a virtue; it's your secret weapon for outpacing the competition and sealing the deal. 

Let’s explore what speed to lead is, why it’s so critical to our sales funnels, and how scheduling software can help.

What is speed to lead? Why is it important?

The difference between companies that soar and those that stagnate often comes down to how quickly they respond to potential leads.

That, in a nutshell, is speed to lead, and it can truly either make or break your business. 

Speed to lead represents the amount of time between when a potential customer initiates an inquiry and when your business responds.

It’s critical to sales success as it can determine whether a prospect speaks to your sales rep or someone else's.  

Having a great product or delivering great service simply isn’t enough anymore. Customers expect immediate or fast responses, and you need to deliver.

A deep dive into slow response times

Slow response times are more than just annoying; they have quantifiable effects on your bottom line. 

According to recent data, 30% of your prospects will go to a competitor if you don’t respond quickly enough.

This alarming statistic underscores how vital it is for businesses to prioritize a swift speed to lead when dealing with customer inquiries or potential leads.

Your brand reputation also hangs in the balance here. Negative customer experiences often find their way into social circles and online reviews, which could tarnish your image over time if not addressed quickly.

That’s why your goal as a sales manager should be to get your team’s speed to lead as fast as possible. You want your customers to praise you for your quick response times and not criticize you for your delayed ones.

The benefits of swift speed to lead

Let’s imagine two separate scenarios…

Scenario one: A prospective customer stumbles upon your website and is interested in a demo or a discovery call. They see an email contact form, so they go ahead and send their message.

Now, maybe they were lucky, and a sales representative happened to check their email just as the message popped in and immediately responded. But, as you can imagine, the chances of that are slim. 

When considering factors such as working hours, different time zones, and the plethora of responsibilities typical sales reps have on their plates, it’s not likely they respond to every message straight away.

And even if they do…now come the back-and-forth emails needed to schedule the demo or discovery call. 

Scenario two: That same potential customer stumbles upon a different website and is interested in a demo or a discovery call. They see a ‘Book a call now’ button and click it. The potential customer sees a booking page where they can immediately schedule their discovery call or demo at a time that suits them. Done. 

As you see, the second scenario began the same exact way as the first one did, but the similarities end there. In the first scenario, the potential customer wastes time waiting for a response and emailing back and forth to schedule a call. In the second, they’ve booked a meeting in seconds. 

Now, honestly answer this question: as a prospective customer, which company would you prefer to be in business with? 

According to the latest data gathered by MIT, you would choose the second. After 5 minutes, the odds of qualifying an inbound lead drop by 80%. 

This is completely in line with the second survey we studied, which found that 78% of customers buy from the company that responds to their inquiry first.

How an online scheduling tool helps improve your speed to lead

Let’s break down that second scenario and examine all the touch points that an online scheduling tool  can empower you to accelerate your business’s speed to lead.

Instant demo or discovery call booking

The faster you can turn an inbound lead into a customer, the better. And with a scheduling tool like YouCanBookMe, your speed to lead becomes practically instant. 

Just create a booking page with the times you are available (you can integrate your page with your Google or Microsoft calendar). Next, simply include the link wherever customers typically find you, like your email signature or on social media.

Remember that speed to lead isn’t only important on your website but at all the different touch points where inbound leads contact you.

Let’s walk through a few channels you can explore 👇

1. Email Communication: 

Include your booking page link in your email signature for easy access and fast speed to lead.

2. Website Chat: 

Copy and paste the booking page link directly into the chat to boost convenience.

3. In-Person Events (Conference/Trade Fair): 

4. Website Integration: 

Like in the scenario we mentioned above, include a "Book now" button on your website for inbound leads to schedule a chat without any delay. You can add the link directly to existing buttons or embed the booking page onto your site. 

After that, potential customers can always access your booking page to schedule meetings instantly.

Speed to lead solutions for international customers

If your prospective customer is in a different time zone than you, the pesky calculations required can further inhibit your speed to lead. 

Online scheduling solutions solve that problem since potential customers can book meetings 24/7. Your inbound leads receive an instant response and can schedule their chat, all while your competition is still asleep. 

YouCanBookMe’s scheduling software also automatically detects time zones so potential customers can easily book a time that suits them. 

Have customers around the world? No problem! 

You can create booking pages in 44 languages to accommodate clients everywhere.

Ready to boost your company’s speed to lead? 

In the world of sales, time is money. A swift speed to lead enables sales teams to focus on hot leads before they lose interest or cool off, ensuring maximum efficiency from all your marketing efforts.

YouCanBookMe is your ally in this journey. When you prioritize speed to lead and seamlessly plug YouCanBookMe into your sales automation tools, you'll supercharge the process of turning potential customers into qualified leads and, eventually, paying customers. 

It doesn't matter whether you're running a small startup or a big corporation—this approach works like a charm. Now, only one question remains: are you ready to seize inbound leads and sales opportunities before they slip away? 

Frequently Asked Questions

How fast should you respond to a lead?

You should respond to a lead as soon as possible. Ideally, within 5 minutes, since the odds of qualifying an inbound lead drop by 80% if you wait longer. While it may not be possible for your sales reps to respond to every message within that time frame, you can utilize tools such as scheduling software to ensure inbound leads can self-schedule a demo or discovery call immediately.

How can I improve speed to lead within my sales team?

To enhance speed to lead, examine your response times and how you can improve them. Look for processes you can automate (like automating your scheduling), unnecessary redundancies in your sales cycle, and tools you can implement to help you boost your speed to lead without taking up too much of your sales reps’ precious time. For example, consider investing in scheduling software such as YouCanBookMe, which will allow inbound leads to instantly self-schedule a demo or discovery call while their interest is highest. This will provide you with an instant speed to lead without wasting any time on the back-and-forth typically involved in scheduling a sales meeting. 

How does speed to lead impact customer experience?

Speed to lead contributes to a positive customer experience by demonstrating your commitment to addressing inquiries promptly. Quick response times show potential customers that you value their time and needs, leading to greater customer satisfaction.

Is speed to lead equally important for businesses of all sizes?

Yes, speed to lead is crucial regardless of your company size. Whether you're a startup or a corporation, prompt response times are key to maintaining a positive customer experience and optimizing conversion rates, making it essential to your sales funnel.