The health of your business depends on both maintaining your existing client base and actively working toward acquiring new customers. Growing your company entails having a system in place for lead generation. Gone are the days of going door to door to sell goods and services. We live in the digital age, and generating leads depends largely on online platforms.
Marketing now takes place through web-based applications, such as email, social media, and search engine optimization. To ensure you’re making the most of your marketing budget, it is important to educate yourself on the latest and most effective ways to reach the largest number of potential customers. Proper placement of your ads and generating leads is only the first step in your marketing strategy.
More important to making the sale is the system you have in place to react to those leads. Responding to leads fast enough is critical to the overall success rate of converting them into sales.
How fast do you need to respond?
Let’s face it, we’ve become a society of impatient people. With the digitalization of our jobs and everyday life, we’ve come to expect near-instant results. If you’re willing to pay the price, you can have almost anything delivered same-day, even within an hour or two.
Applying this concept to marketing, if someone is scrolling through their feed and they have an interest in learning more about your product or service, being able to respond in real-time is critical. In fact, studies have shown that the faster your company is at responding to leads, the more sales you can expect to make. With online shopping, page speed is so important that every second translates into lower conversion rates.
Therefore, regardless of the goods or service you provide responding within the hour is an absolute minimum, and the ideal response time is less than five minutes. After that, the odds drop quickly and significantly.
Pieces of the business puzzle
Every company must continually update its marketing strategy to stay ahead of the latest trends in advertising lead generation. Companies must also adapt marketing strategies and plans to include the newest/best way to convert passive leads into active sales. Responding to leads within 5 minutes is the goal and faster is even better.
Khorrami Consulting, one of the premier business consulting services in Los Angeles, can help you create a marketing plan that maximizes your visibility on any platform and improves the method and speed of your response to customer interest.