How Fast do Marketing Leads Turn Cold?

July 8, 2020

How Fast do Marketing Leads Turn Cold?
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Do you worry about your cold website visitor conversion rate?

In a survey, 68% of B2B marketers said increasing quality leads is their number one priority, followed by increasing lead volume, at 55%. 

But what about how to respond to leads on your website? How many leads are turning cold? 

When growing your leads and improving ROI, it’s important to consider how long it takes to respond to sales queries and how quickly they can become cold if you don’t. 

Failing to do this can have serious consequences for your business. 

In this blog post, we’re going to talk about online sales leads time, and how to stop a cold from happening.

Why do leads turn cold so fast? 

Keeping leads warm is so important to increasing sales and getting good ROI. 

But why do these leads turn cold so quickly? 

Simply put, they get bored of waiting. 

In the digital age, competition is tough. Consumers expect immediate results and they lose interest quickly – especially if they have lots of other options. Cold times are harsh right now. 

Many businesses have invested vasts sums of money into online lead generation, and consumers are inundated with so many adverts and sales pitches. 

This means that if you want to improve your chances of gaining and keeping customers, you need to respond quickly as a matter of urgency. 

When it comes to responding to leads, 24 hours doesn’t sound that long, does it? 

However, according to a  Harvard Business Review, online businesses need to respond to marketing leads in an hour or less if they want to win the customer’s business. 

The researchers found that those that followed this rule were almost seven times more likely to convert that lead than those that waited over an hour – even if it was only slightly. 

Furthermore, statistics show that marketers that follow-up within five minutes are nine times more likely to get a conversion. 

Interestingly, Websites like the Harvard Business Review clearly show us this is one of the most effective ways to avoid your leads losing interest and increase your conversion rate. 

To implement this is your business, you need to take steps to ensure you don’t wait too long when responding to queries. 

Some of the ways you can do this are:

  • Retrieving your leads from your CRM software continuously, rather than at set times 
  • Responding to customer-driven leads first, 
  • Using automation software to your advantage

Choosing a quality automation software can help you stay up-to-date with your sales leads and keep your response times down. 

With Dripify, you can quickly improve your conversion rates on LinkedIn, as it lets you prospect 24/7, even when your laptop is switched off. 

By using the customizable sales funnel, you can implement automated actions and delays, and track your results with daily stats, activity, and campaign conversion rates. 

Plus, you and your team members can easily manage conversations in your inboxes. You can check and respond to priority messages, add reminders, and stay super-organized. 

Tips for keeping your leads warm 

As we’ve seen, responding to leads faster is a top way to stop leads turning cold. 

So, how else can you keep your leads warm? 

First, it’s important to understand what we mean by a “warm lead”. 

Hot leads are prospects that are ready to buy. They know the product, they know you, and it’s very easy to close these sales.

A cold lead is someone you don’t know, and who doesn’t know you, the company, or the products or services you’re offering. These tend to have a low response rate. 

Warm leads are in between these two. They have expressed some interest, but they may need some persuading to make the decision to buy. These types of leads need a lot of nurturing if you’re going to convert them to a sale. 

Here are some of the best ways to do this: 

Build rapport

One of the best ways to nurture a warm lead is to build rapport with them. This is highly important. In fact, marketers recommend that this is the main focus of every sales interaction you have – regardless of the type of lead they are. 

It’s important to be patient with this. A lot of prospects are reluctant to buy something from someone they don’t know that well. This is why it’s important to get to know them. 

Even though you may not gain a sale straight away, over time, you will start to reap the rewards of this technique – although it may be weeks, months, or even years later. 

Focus on your leads

This tip is essential, and it’s strongly tied into the previous one. In order to build rapport effectively, focusing on the prospective lead is a must. 

Always aim to listen more than you talk. Rather than just spinning off a sales pitch, make sure you listen to their concerns and what they’re looking for. By doing this, you learn a lot more about them and gain their trust. 

A common question is, “should you research cold leads?” Doing so makes it easier to personalize targeted marketing material, and it makes it much easier to close the sale. 

Follow-up regularly

Follow-ups can be tricky to maneuver. You don’t want to be too pushy, but at the same time, you don’t want to be silent – this gives the impression you don’t really care. 

You should be following up your leads regularly, and it’s important to strike the right balance. Don’t be too salesy, but make sure you’re enthusiastic enough so that they don’t just forget about you and move on. 

The best way to do this is to check that each follow up is purposeful and adds extra value. For example, you can provide insightful tips that might be of interest, and give information about updates, changes, or a new offer of service/product. 

Offer a trial

There will be lots of prospects who aren’t quite sure. And for many of them, having a way to test out the product or service before buying is key. 

If leads want to try it out before fully committing, you should have a way to accommodate for this. If you don’t provide this option, you’re likely to lose out on their business. 

Use multiple channels 

Lastly, in the age of social media and digital marketing, it’s important to be able to connect in multiple ways with your leads. 

Taking a cross platform approach is a great way to stay in touch and remain relevant. 

Make sure you’re connecting with your leads on as many platforms as you can. This includes 

LinkedIn, Twitter, Facebook, Instagram, YouTube, and more. 

Conclusion 

Right now, so many industries are more competitive than ever. The world of online sales is tough, and consumers can become bored and lose interest extremely quickly. 

Because of this, you need to ensure you keep your response times low, as well as keeping all your communications value-packed, interesting, and persuasive. 

By following the above tips, you will start to see rapid improvements in your conversion rates, boosting sales and ROI – not just now, but in the long-term as well. 

Dripify can help you manage this more easily and automate a lot of these processes. This frees up more time, which can be spent growing your business and finding the highest-quality leads. 

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