The Conversion Code, 2nd Edition

Chapter 18How to Achieve the Highest Lead Conversion Rate Possible

Speed, tenacity, and scripts are how you get the best ROI possible from the marketing you do, ads you run, and leads you generate. Without the right salespeople and processes in place, you will constantly have leads falling through the cracks and end up questioning the effectiveness of your marketing.

HOW LEAD RESPONSE TIME IMPACTS CONVERSION

Your ability to convert an internet lead will be directly affected by your ability to contact them fast. Here is what research found to be true about lead response times:

• Lead conversion rates are 8× higher when you call within the first 5 minutes but less than 1% of leads are called that quickly¹ (Figure 18.1).
• Calling within 5 minutes is 21× more effective than calling after 30 minutes.
• There is a 391% increase in lead conversion rate by calling in minute one, 160% increase by calling in minute two, and a 98% increase by calling in minute three² (Figure 18.2).
• You are 60× more likely to contact a lead after an hour than after a day.
• 57.1% of new lead follow-up attempts happen after a full week has passed.

Figure 18.1 Impact of Response Time on Lead Conversion Rates

Figure 18.2 Every Minute Matters

BEST DAYS AND TIMES TO FOLLOW UP WITH LEADS

When you follow ...