Lead Response Time
How quickly does your sales team respond to your customer inquiries and is it affecting your overall conversions?
Regardless of your business focus, lead response time is an important variable to the sales equation that will ultimately define the quantity of vendors selected to participate in the RFP process. During the typical sales process a buyer organization will evaluate roughly 3-5 vendors at a minimum. The first interactions tend to narrate the conversation, specifically around which features are fundamental and should be included by the respective solutions provider.
Personal Note: A few years back I was tasked which designing a comprehensive RFP documentation library. The goal of this exercise was to reduce our response time around complex RFPs (+50 Pages) and standardize the overall messaging. Half-way through the project we began to notice that 60% of the over 100 RFP’s had identical formatting and questions. What this led us to determine was that the vendors were providing a list of technical considerations to help the buyer narrate the maze of vendors. Obviously the all the outlets of the maze pointed back to the original creator of the document.
If this solution is not on your radar we recommend making it a priority!
We recommend considering one of our favorite vendors on the AppExchange – Response Time Tracker. Out-of-the-box there are some customizations required, which are relatively easy to perform.
www.marketingfox.net
Regardless of your business focus, lead response time is an important variable to the sales equation that will ultimately define the quantity of vendors selected to participate in the RFP process. During the typical sales process a buyer organization will evaluate roughly 3-5 vendors at a minimum. The first interactions tend to narrate the conversation, specifically around which features are fundamental and should be included by the respective solutions provider.
Personal Note: A few years back I was tasked which designing a comprehensive RFP documentation library. The goal of this exercise was to reduce our response time around complex RFPs (+50 Pages) and standardize the overall messaging. Half-way through the project we began to notice that 60% of the over 100 RFP’s had identical formatting and questions. What this led us to determine was that the vendors were providing a list of technical considerations to help the buyer narrate the maze of vendors. Obviously the all the outlets of the maze pointed back to the original creator of the document.
If this solution is not on your radar we recommend making it a priority!
We recommend considering one of our favorite vendors on the AppExchange – Response Time Tracker. Out-of-the-box there are some customizations required, which are relatively easy to perform.
www.marketingfox.net
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