Sales
Oct 10, 2024
-
4 min read

What is Speed to Lead & How to Improve It

written by
Navya M
Content Marketer
reviewed by
|
Table Of Contents

Heading 1

Heading 2

Heading 3

Heading 4

Heading 5

Heading 6

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

Block quote

Ordered list

  1. Item 1
  2. Item 2
  3. Item 3

Unordered list

  • Item A
  • Item B
  • Item C

Text link

Bold text

Emphasis

Superscript

Subscript

Clip

When it comes to B2B sales, timing isn't just a metric—it's the difference between winning a deal and losing out to your competitors.

If you’re still contemplating the “perfect moment” to contact a prospect, know that your competitors are already engaging, building rapport, and moving closer to securing the business. 

This timeframe, known as "speed to lead," has become a hidden advantage for sales teams. 

It’s what can help your sales team shorten their sales cycles and close deals faster. 

Curious? Let’s dive in and learn all about it. 

What is speed to lead?

Speed to lead is the time it takes for your sales representatives to contact a prospect after they've shown interest in your business or qualified as a lead. 

Whether it's responding to a demo request, following up on a downloaded whitepaper, or reaching out after a website inquiry, every second counts when it comes to reducing the time needed to reach out to a lead.

As Jason Smith, sales head at CallTrackingMetrics, revealed on the Conversion Cast podcast, "78% of customers purchase from the first responder." In today's market, where buyers have countless options at their fingertips, being the first to extend a helping hand isn't just good practice—it's essential for survival.”

What should your speed to lead be?

Experts have varying opinions on optimal response times, but one thing is clear—faster is (most often) better

Daniel Bird, BDR at Lean Labs, provides a practical benchmark: "I like to keep it at an average of one business day, 48 hours at the maximum." But, Bird also emphasizes that the real aim isn't just about speed—it's about responding meaningfully to that lead.”

The key is to strike a balance between speed and relevance to improve lead response time. The response, whether it's an email, an interactive demo, or a personalized video, should aim to address the prospect's problem while demonstrating your solution's value. 

Interestingly, the required speed can vary based on intent of the inbound lead. Low-intent leads such as website visits or whitepaper downloads may require more follow-ups. However, high-intent, qualified leads, such as those who've visited your pricing page multiple times, may require less aggressive follow-up as they already show serious interest.

Choosing the Right Tech Stack for Speed to Lead 

Having the right technology isn't just an advantage—it's necessary for your sales team. Your tech stack can make all the difference, by enhancing speed to lead and sales performance, along with automating manual lead responses. 

1. Email Management Tools 

Gone are the days of leads getting lost in crowded inboxes. Top sales teams use Gmail and Outlook in their sales strategy, where sales reps can create filters and labels that automatically categorize and prioritize incoming leads, ensuring that high-quality leads never slip through the cracks.

Recommended tools:

  • Mailchimp
  • Brevo
  • Klaviyo

2. Interactive demos

Interactive demos have transformed the way sales teams showcase their products. 

Instead of waiting for a scheduled demo, prospects can instantly interact with your product through guided, personalized product experiences. 

The best part? No code platforms, such as Storylane help you create demos in less than 10 minutes. Create, customize it with personal variables, add a CTA, and share it via email, landing pages, links, or embeds, all without breaking a sweat.

Here’s how it works:

Take a tour of product

Such self-service product demos pique the prospect's immediate curiosity and provide them with a “test drive” of your product. Your sales tea, can also track demo analytics to determine which features interest the prospect most, enabling more targeted follow-up conversations.

2. CRM Platforms

CRM platforms help your sales team monitor and respond to lead activity. When a prospect views your content, sales reps receive instant notifications, allowing them to reach out to leads quickly while they are actively engaged. 

But the key to truly maximizing your CRM's potential lies in proper data enrichment. Inbuilt tools such as Clearbit also help. This way, you can then send it to your lead routing tool, for the alerts to reach the right sales rep. 

Recommended tools: 

  • HubSpot
  • Salesforce
  • Zoho CRM

3. Lead Routing Software

Lead routing tools act as intelligent traffic controllers for your qualified leads. These platforms ensure that leads aren't just responded to quickly, but that they ensure speed to lead by reaching the right sales rep instantly. 

You can then automatically schedule meetings with the right sales reps based on criteria like company size, industry, or geography.

Recommended tools:

  • Pipedrive
  • Chilipiper
  • Leadbyte

4. Chatbots

Chatbot platforms also make the cut in the speed to lead arsenal, converting leads thanks to their conversational interface. 

These interfaces can engage prospects immediately, qualify leads quickly, schedule meetings with sales reps, improving sales efforts —all while your human team is offline. 

Here’s what to keep in mind when using chatbots for your brand:

  • Set up your chatbot to greet visitors after they've been on your site for a specific duration
  • Give it a brand tone and image, one that feels like a natural extension of your brand
  • Enable the chatbot to provide FAQ guides, product videos, or quick solutions to common queries
  • Use your chatbot to ask smart, qualifying questions, which helps score leads and assign them to the right sales reps, ensuring a more personalized follow-up

Recommended tools:

  • Drift
  • Zendesk
  • Intercom

5. Sales Engagement Platforms

Sales engagement platforms bring all these elements together to improve sales process efficiency, allowing sales teams to work on multi-channel, personalized outreach campaigns at scale. 

These tools not only automate follow-up but also provide valuable insights into which approaches are most effective. As Jason Smith notes, “Business is very competitive today. And if you want to have the highest lead generation and conversion rates, then you don't want to rely on leads going into an inbox and waiting on a sales rep to manually follow up."

By strategically implementing these tools, your sales team can create a tech stack that helps them be fast, relevant, and effective in their outreach.

Recommended tools:

  • Salesforce
  • SalesLoft
  • Lemlist

Also read: 15 Tools to Build the Best Sales Tech Stack

6 Actionable Tips to Improve Your Speed to Lead 

Apart from tools, here are a few tips to improve your speed to lead processes:

1. Time blocking for maximum efficiency

Top-performing sales reps don't leave follow-up to chance. They strategically block out time in their calendars, either early morning or late afternoon, dedicated solely to lead follow-up. 

This ensures that lead response remains a priority even during busy periods.

2. Personalize your follow-ups

The content that your prospects interact with is different, so why should your follow-ups be generic? Instead, your follow-up should reflect an understanding of the prospect's specific interaction with your brand. 

Did they convert on a playbook? Or were they examining your pricing page?

Each interaction tells a story about a customer experience or the prospect's stage of the buyer journey, and your response should acknowledge and build upon that understanding.

3. Segment your leads

Effective lead scoring isn't just a nice-to-have—It's about hitting the ground running with every lead, armed with the right information at the right time.

To make lead scoring and segmentation work for you, use your CRM and marketing automation tools to automate lead scoring and check insights like:

  • Lead source (e.g., organic search, paid ads, referrals)
  • Engagement history (e.g., website visits, content downloads)
  • Firmographics (company size, industry, location)
  • Behavioral data (e.g., pages viewed, time on site)

Based on these, you can qualify leads based on actionable segments and strategize. A "hot lead" might receive an immediate call and follow-up email, an "enterprise prospect" could get a detailed industry case study, or an "SMB quick win" might receive a link to schedule a demo. 

A best practice to convert leads is to treat segmentation as an ongoing process. Regularly analyze which segments convert best for your sales teams and adjust their strategies accordingly.

4. Use automation

Automation can significantly help improve response times, but the key is to do it intelligently. Use it not just for initial touchpoints, but to qualify leads in real-time and encourage immediate action. 

By investing in the right technology, you can streamline your inbound sales process, make lead generation effective, route leads, and ensure leads are engaged while they're still hot.

For instance, imagine this scenario:

  • A prospect visits your website and watches a product demo or fills out a form
  • Within seconds, they're prompted to choose between scheduling a call or talking now
  • If they opt to talk now, they're quickly assigned to sales reps and receive a call

This approach reduces drop-off points, enhances speed to lead, makes the sales strategy efficient, and capitalizes on the prospect's immediate interest.

As Smith suggests, "It's about striking that perfect balance between swift automation and personalized human interaction."

By implementing a sales strategy such as this, you're not just reducing response time—you're creating an opportunity for instant engagement while the lead is still actively interested in your offering.

5. Data-Driven Improvement

What gets measured gets managed. Even with a speed-to-lead strategy, use analytics tools to track crucial metrics such as lead response time, customer satisfaction, or other lead statistics that impact your conversion rates.

Some key metrics to monitor are: 

  • First Response Time: How quickly does your team make initial contact after a lead comes in?
  • Lead Qualification Time: How long does it take to determine between less qualified leads and high-quality leads or if a lead is sales-ready?
  • Time to Appointment: For qualified leads, how quickly can you schedule that crucial first meeting?
  • Conversion Rate by Response Time: How does your conversion rate change based on response speed?

These numbers aren't just data points—ultimately, each metric measured gives us insights on lead statistics, team performance and highlights opportunities for improvement.

These insights can then be analyzed at both the company level and for individual team members, allowing for targeted improvements in the overall sales strategy. 

6. Implement a Tiered Response System

Not all leads are created equal, and your speed-to-lead strategy should reflect this. Here’s an example of how you can work with a tiered response system: 

1. Tier 1 leads, often called "hand-raisers," include demo requests, pricing inquiries, and direct product interactions. These deserve immediate response from your sales reps, often within minutes or, at the most, hours.

2. Tier 2 leads might be content-based MQLs, requiring a response within hours rather than minutes.

This way you pre-qualify a lead and set a response system for each inbound lead tier, making your speed to lead strategy more aligned towards lead speed and quality. 

Speed to Lead: The Race Towards Closing Deals Faster 

Speed to lead is a competitive advantage that can dramatically impact your bottom line. 

The reality is this: leads turn cold fast, and customers expect quick, relevant, and personalized engagement. In that state, your ability to respond rapidly and meaningfully to prospects can make the difference between winning and losing deals.

With the right tech stack, processes, and strategies, you can reduce lead response time or newly incorporate a speed-to-lead strategy into your business. 

The bottom line? Don't let another hot lead go cold. Go forth and optimize your speed-to-lead strategy today with these tips. And If you’re wondering how interactive demos can help with reducing lead response time, start free or book a demo to learn more.

Heading 1

Heading 2

Heading 3

Heading 4

Heading 5

Heading 6

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

Block quote

Ordered list

  1. Item 1
  2. Item 2
  3. Item 3

Unordered list

  • Item A
  • Item B
  • Item C

Text link

Bold text

Emphasis

Superscript

Subscript

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”
Madhav Bhandari
Head of Marketing

Make buying easy with Storylane

Chat with our demo expert to find out how 2500+ companies use Storylane to drive more revenue