Speed to Lead: Why the First Hour Decides the Deal
A Harvard Business Review study of 2,241 companies found that answering a web lead within an hour made a company nearly seven times as likely to qualify it. Here is how to check and fix your own response time.
The short answer
The first hour decides most leads. In a study of 2,241 U.S. companies published in Harvard Business Review, firms that tried to contact a web lead within an hour were nearly seven times as likely to qualify it as firms that waited even one hour longer, and more than 60 times as likely as firms that waited 24 hours or more (Harvard Business Review, 2011).
Where leads actually die
The same study found the average company took 42 hours to respond to a web lead. Only 37% responded within an hour, and 23% never responded at all (Harvard Business Review, 2011). In a local service business, leads usually die in a few predictable places:
- Form fills that go to an inbox nobody watches
- Calls that ring out after hours or during lunch
- Voicemails returned the next day
- Messages from Google, Facebook or review sites that nobody checks
The speed-to-lead audit
Do this in one afternoon.
- Fill in your own website form at 4:45 PM on a weekday. Write down when someone gets back to you.
- Call your main number after hours. What does the caller hear, and does anyone follow up?
- Send a message through your Google Business Profile. See who gets it and how fast.
- List every place a lead can come in. Phone, form, email, Google, Facebook, referral sites.
- Name one owner for each. If a channel has no owner, its leads have no chance.
Fixing it
- Send an instant reply. An automatic text or email that says you got the message and when a person will call.
- Route every lead to one place. One inbox or one phone, with a backup person.
- Set a written standard. For example: every lead gets a call back within one business hour.
- Track it weekly. Time to first response, and how many leads got no response.
FAQ
Is an automatic reply enough?
It helps, but the study measured reaching a decision-maker, not just sending a reply. A real person still needs to call.
Is this study too old to matter?
The study is from 2011, but its point, that leads go cold fast, is why it’s still widely cited. Test your own response time and see what it costs you.
Sources: Harvard Business Review: The Short Life of Online Sales Leads, 2011