Speed to lead is often overlooked by contractors and other professionals working in home improvement services. However, a winning strategy for converting leads into customers can help you scale your business.
It’s important to have the right procedures in place to ensure you are maximizing every lead that comes in. Therefore, let’s learn more about this concept and how you can take your contracting business to the next level.
What is Speed to Lead?
Speed to lead is the average time it takes your business to respond to a qualified prospect once they become an inbound lead. And in the home improvement industry, you can generate a lead from many different avenues, such as:
No matter where the lead comes from, you must have a process in place to give you the best chance to convert that lead into a sale. And this is where the speed to lead comes into play.
“Think about how much time you actually have to answer a lead,” said Jon Gardner of Owens Corning during a recent webinar with Leap. “It’s really a matter of seconds and minutes.”
According to Xoombi, responding to a lead within the first five minutes increases conversions by 391%. If you wait just one extra minute, that drops to 120%. An hour later? It drops to 36%.
As you can see, the speed at which you connect with a lead can make all the difference in your sales. But you need to have a streamlined process in place to ensure this happens.
What is your messaging? Are you building trust and connecting with potential customers? Lastly, how are you collecting and organizing all this information? Let’s dig a bit deeper and learn how you can maximize your leads with new technology in the industry.
Maximize Your Leads with New Technology
Business processes and structure are a key focal point to converting leads. When everyone on your team understands their roles and how the business functions, you will be ready to reach new heights.
“Technology is not a magic bullet,” Leap’s Tom Basch said during the webinar with Owens Corning. “You need to get your processes in place first before you implement technology.”
Once you have processes in place, the next step is to implement technology that can take you to the next level. In fact, contractors are turning to software and sales automation to build a foundation for their entire operations.
This can help your sales reps drive higher margins, close more deals, and schedule more appointments. In addition, the flow of information throughout your company becomes seamless and more accessible.
“When you think about speed to lead, the first thing you need to employ is technology,” Jon Gardner added.
With the right software, your team can quickly recognize a lead, access information, and connect with the prospect before you lose out on a potential job. The technology provides you with guardrails and a framework to capitalize on leads instead of wasting them.
For instance, you can offer good-better-best pricing directly through the software to give prospects more options. This is an industry-tested strategy that is known to close more, bigger deals.
Consider a Complete Platform for Contractors
Leap provides a complete platform for contractors that includes customer relationship management (CRM), project management, and point-of-sale functionality. It’s an all-in-one software that helps you manage customer interactions better than ever before.
Generating leads can be tough. Yet, converting those leads is even tougher. With software solutions, you are maximizing the potential of each lead and giving your business the best chance at selling more jobs.
At Leap, we also partner with a network of home improvement industry leaders. We work directly with our partners to give you the best possible solutions to help your business grow. From imaging technology to measurement tools and manufacturers, our partners have you covered.
To learn more about Leap, fill out the form below and schedule your very own demo with one of our experts. You can learn how Leap’s platform is built to help your business flourish and improve your speed to lead.
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