We love a statistic but this one makes you stop and think…
For every $92 spent on generating leads, only $1 is spent converting it (HostingFacts.com)
There are two ways you might generate leads. Firstly, paying to generate them. This could be Pay per Click adverts on Google, social media adverts or lead generation sites. Another lead source is referrals from partnerships with local businesses.
In the first method, the cost of generating leads is more clear. For each click there is a direct cost. Here you can see how much you are investing into generating work. In the latter, it is less tangible – the leads are passed to you and there is no cost for the introduction (perhaps there is a referral fee later on depending on your agreement). That relationship takes time to build. There is a cost associated with those leads of the time spent building and maintaining the relationship. But assuming you can’t put a value on it, we could associate the cost to buy that lead if the relationship didn’t exist.
What is your response process?
You’ve invested money into generating enquiries. How do you respond? Nearly 10% of surveyors in our recent study responded within 5 minutes and around 46% within an hour.
Do you take the time to respond straight away? Or have you invested in an admin time or automated initial response to buy time?
The process should look like this:
Part 1: You must respond in a timely manner or you are risking losing the lead straight away.
Part 2: Follow up. How many of your leads do you follow up with to encourage them to go ahead?
Ignoring a lead after the first response risks losing out on opportunities. Not all customers are ready to go ahead straight away. Have you invested in nurturing your leads or are you guilty of generating leads and not investing in converting them?
In our recent study, fewer than 1% of surveyors follow up with a lead after the first contact. This both confirms the statistic at the start of this article and offers an opportunity for those surveyors who decide to make more of their enquiries.
Survey Booker has automated lead nurture built in following up with each lead 3 times after they search to help you stay in a customers mind until they are ready to commit. Speak to the team today to learn more about following up with your leads without lifting a finger.