Call Leads Quickly: Some Stats and An Argument

argument5We had a grand argument in our marketing department this morning. The argument revolved around the simple question: how quickly should we call leads?

One side (the side I was on) argued that every lead (White Paper downloads, webinar attendees, etc.) should get an immediate phone call–like within 5 minues–from a member of the sales team. The other side argued that every lead should simply drop into our marketing automation and email marketing platform and receive nurturing emails until they actually request a demo.

Both sides are viable. Companies like Speak2Leads and Inside Sales argue that leads need to be contacted immediately. Companies like Marketo and Hubspot believe in a long process of lead nurturing.

One side is aggressive. The other is passive.  Here are the arguments for both sides (even though I think my side is right and the other one is dumb):

Call Everyone Immediately

When someone downloads a White Paper, requests a demo, attends a webinar, or fills out any form on a website, they need an immediate phone call. This call doesn’t need to be a ‘hard’ sales call. In fact, it shouldn’t be. Rather, it should be a ‘did you get the White Paper you just downloaded?’ call; or, a ‘curious if you had any questions call.’ This way the lead is not threatened and you are still quickly reaching out to them.

- The main concern I have–and many have–with simply email nurturing and never calling leads is that the leads just languish. Humans, you see, are lazy. Sometimes I need a sales rep calling me before I will buy. If we make buying decisions based on pain (which we do), we generally aren’t going to proactively go look for a product until our pain is very high. However, if our pain is moderate, we’ll probably buy something if the sales professional keeps calling us.

- Also, why shouldn’t someone who downloaded a White Paper about your company and what you sell, get a phone call? They’re obviously looking for that information for a reason. They didn’t download your content or fill out your form as a fun recreational activity. They filled it out because they are considering buying. They’re somewhat ‘in-market.’

- Of course nurturing has value. But, what I’m arguing is that ‘nurturing’ shouldn’t be limited to emails alone. Can’t a phone call be a part of the nurturing process? Can’t a phone call simply be another touch in the nurture campaign?

Sure it can.

Leads need to be called and they need to be called quickly. Even waiting an hour lessens the likelihood of a) contacting the lead, and b) converting the lead. Consider these statistics.

- Calling a lead within 5 minutes of a form fill vs. 60 minutes of a form fill increases conversions by 341%. (Kellogg School of Management at Northwestern, Speak2Lead)

- If you call a lead within 60 seconds of a form fill you are 500% more likely to convert the lead (MIT)

- Even within the first 60 minutes, contacting a lead drops by a factor of 10 for every 5 minutes in the hour (MIT)

- The first business to speak to a lead on the phone is 238% more likely to get that lead as a customer than the second business to speak to the lead. (Kellogg School of Management at Northwestern, Speak2Lead)

- The odds of contacting a lead if called in 5 minutes are 100x higher vs. 30 minutes (Kellogg School of Management at Northwestern, Speak2Lead)

- The odds of converting a lead if called in 5 minutes are 21x higher vs. 30 minutes (Kellogg School of Management at Northwestern, Speak2Lead)

Some of these data points are staggering. Read them again. You are 100x more likely to reach a lead if you call them within 5 minutes of a form fill than you are if you call them 30 minutes after a form fill.

That’s staggering.

So, here’s the argument, to sum up: every lead should be called and called within 5 minutes of filling out a form. Why? Because calling them quickly improves contact and conversion rates. Why? Because they are still thinking about the form they just filled out. They might actually still be on your site. They haven’t moved on to something else.

Call Only ‘Qualified’ Leads – Quick Response Doesn’t Matter

The argument on this side is simple: nurture with emails and content until the lead raises a hand. For example, in our case, a lead downloads a White Paper and receives about an email each week until they finally request a demo. Once they request a demo, they get a phone call from a sales rep.

This method is what Hubspot, Marketo and other companies espouse. It is the passive selling method.

- Because, face it, as good as calling every lead quickly can be, you’re going to, quite often, tick someone off who wasn’t planning on getting a phone call. That will demoralize sales people and tick off leads. That’s not good.

- Some people get really upset when they haven’t requested a phone call and you call them anyway.

- Plus, what good is an email nurture campaign if you don’t let the emails, you know, nurture the lead? Why have an email marketing platform at all if you don’t let it do it’s job? Good point.

- Calling every lead is a waste of a sales professional’s time.

- And finally, calling everyone is just too aggressive. You don’t want to get the reputation as the company that harasses people. That’s not a good rap to get.

Conclusion

There is no ‘one size fits all’ solution for your company. If you’re a hustling startup (like us), aggressively calling leads is probably the solution. If you’re Hubspot and you’re making over $50 million a year, you probably can sit back and wait for people to raise their hands.

The other factor to consider is the type of form the lead filled out. Did they fill out a form downloading specific content about your industry, company, or product? Or, did they fill out a very generic form requesting vague materials? Or, did they fill out a form requesting a demo, a sales call, or a brochure? These are all questions that are important to consider.

Originally Posted on LogMyCalls.

7 Responses to Call Leads Quickly: Some Stats and An Argument

  1. Mark Grimm January 21, 2014 at 7:32 am #

    How about having a question in the form that asks something like this, “Would you like someone to call to offer more help?”

    The “yes” responses are the hotest leads.

  2. Tam Graves January 21, 2014 at 7:41 am #

    How about calling and email nurture in parallel? Then you get the best of both worlds…

  3. Shaun Greer January 21, 2014 at 2:02 pm #

    The details in your conclusion regarding the type of form the consumer completed are extremely important to the discussion. We have forms that consumers complete which leaves them expecting a call from a professional. We also have general whitepaper forms.

  4. McKay Allen January 21, 2014 at 2:31 pm #

    No question that the ones that answer ‘yes’ to a question about a phone call are the hottest. My argument is essentially what Tam said: calling is a part of the nurture process, not–as is widely believed–a breakdown of that process.

  5. Jeremy Raglin January 21, 2014 at 4:37 pm #

    I agree that calling a lead as soon as the lead is received will increase conversions but what also should be discussed is how much time should be spent on the phone during the initial call.

    I personally have found that if I spend 5 minutes with the lead during the first call I get more sales rather than trying to push them to a demo because, I’m able to really find out if they are qualified or not.

  6. trevor Rasmussen January 27, 2014 at 12:47 pm #

    The companies that call after dl a stinking white paper are making a huge mistake. Dl a wp is not the sign of a hot lead…it’s s step in the journey but that would be a huge turnoff to me as a buyer.

  7. rhonda February 2, 2014 at 5:42 am #

    I am a Hubspotter … but wonder if now that gmail has divided the inbox, we have less of a chance of those nurturing emails being seen? Would this change the equation? Would love to see stats on this …. just asking.