Why Lead Response Time is a Critical Factor in Converting B2B Leads

Why Lead Response Time is a Critical Factor in Converting B2B Leads

Why Lead Response Time is a Critical Factor in Converting B2B Leads

The B2B world can be incredibly competitive, especially when traditional advertising methods used in the B2C world aren’t effective. But one thing you can do to get a leg up on your competition is to improve your lead response time. Here’s why lead response time is a critical factor in the realm of B2B lead conversion.

What is lead response time?

Lead response time is the amount it takes to respond to a lead after they reach out to your company. In the context of digital marketing, this refers to the time it takes to respond to a lead after they complete an online form. The average lead response time for B2B companies, per Hubspot, was 42 hours, and many companies never responded at all.

Why does lead response time matter?

Lead quality degrades over time. If you don’t respond to your leads, they grow cold and lose interest, either because they’ve moved on to other companies, or they simply move on to their other responsibilities. In fact, the sooner you can respond to your leads, the better.

Why is this? Well, the internet has changed buyer behavior. Customers are doing significant online research about the products and services they’re interested in, all without ever talking to another person. So when potential buyers do reach out, it’s usually when they’re very close to the purchase stage of their buyer’s journey. And that’s the best time to reach them—when they’re interested in and ready to talk to a salesperson.

In addition to when you respond to your leads, how matters too, and how often. Are your reaching out via email or phone? You should probably be doing both. And you shouldn’t give up after one attempt. Doing this helps you to establish a relationship with your lead, nurturing them into a prospect and then a customer.

How do you improve your company’s lead response time?

The first thing you should do is test that response time, and determine how far away your company is from a quick response. Once you’ve done that, you can set in place email automation to send email to leads immediately after they convert by completing a form on your website or landing page. Email automation can also help you follow up with leads at regular intervals to keep your company top of mind.

If you’re ready to improve your lead response time and convert more leads, it’s time to get in touch with Evenbound. We have expertise on the content strategies that will increase visitors, conversions, and leads from your digital content, as well as email marketing and lead segmentation strategies to reduce lead response time and give you the greatest ROI for your digital marketing efforts.

New call-to-action
New call-to-action

Pros and Cons of E-Commerce Sites for B2Bs

Pros and Cons of E-Commerce Sites for B2Bs

With more and more brick-and-mortar stores in the retail, B2C realm moving online, it’s natural to wonder whether online shopping and e-commerce sites have any value for B2Bs. E-commerce can be useful for B2B manufacturers in providing their customers with a convenient and seamless purchasing experience and differentiating themselves from their competition. Does your site need an e-commerce component?

The Cons

Most obviously, a negative aspect of an e-commerce site for B2Bs is that sometimes, orders are complex. If you create custom products for each of your clients, you may not be able to take orders through a traditional e-commerce platform, as you’ll need to design and estimate the product. Additionally, B2B products often have multiple pricing tiers, depending upon size of order, client, etc., which can be difficult (though not impossible) to build into the e-commerce experience. If your B2B doesn’t offer tangible products, but services, e-commerce won’t make much sense.

The Pros

There are several advantages to e-commerce sites for B2Bs. Customers can easily place orders online, eliminating the need for a sales rep or account manager to take the order and forward it to fulfillment. Recurring orders can be automated, and longtime clients can have their specific orders, payment schedules, and other specific information tied to their accounts in your e-commerce interface. Additionally, the product selection can be updated in real-time to reflect changes in inventory or product offerings.

Another benefit to incorporating e-commerce into your B2B site is that it creates a seamless buyer’s journey experience for the customer, which can result in more sales and conversions. If your e-commerce component integrates content including images and video, customer support, how-tos, specifications, articles, and other relevant information, you can funnel customers through the buyer’s journey to the purchase stage, and have that purchase made instantaneously.

B2C buying trends are increasingly influencing the wants of B2B customers, who are eager for quicker, easier, more convenient ways to make business purchases, much in the way that they make personal purchases on Amazon. For B2B manufacturers, e-commerce, if thoughtfully combined with pertinent content and information, can simplify the ordering process for both the buyer and seller.

Whether e-commerce is right for your B2B or not, if you’d like to discuss your current digital strategy, Evenbound can help. Let’s start that conversation. For more information on how our unique formula has produced unprecedented results for other B2B manufacturers, check out the following case study:

New call-to-action