Understanding Lead Freshness
Lead Freshness is a metric within the Inbound app which categorizes the recency of your new leads based on their submission of a form or a phone call within your campaigns. The lead freshness categories can be found on the left side of the page, beneath the Inbound app title.
Automatic Categorization of Leads
The Inbound app categorizes all leads into the following groups:
A 'hot' lead is a fresh prospect that has just entered your Inbound app and is no more than 15 minutes old.
A 'warm' lead refers to a prospect that is aged between 15 and 60 minutes.
A 'cold' lead is a prospect that is over 60 minutes old.
An 'ice' cold lead is more than a day old.
The Importance of Lead Freshness
The likelihood of conversion increases when the lead is 'hotter'. A prompt and appropriate response to a 'hot' lead can prevent wasting of valuable marketing resources. Studies suggest that contacting within the first five minutes can increase the chance of lead conversion by up to 21 times, however, the average business response time is approximately 42 hours.
Why a Quick Response is Crucial?
A rapid response caters to the psychology of buyers and the nature of their intent. After your campaign attracts a potential lead who fills a form or dials the tracking number, an immediate response from a sales representative can:
Facilitate an instant connection with the lead who still has your business fresh in their minds.
Impress the lead with your proactive approach, creating a professional impression and making the lead feel valued.
Increases the chances of conversion as your landing page has already pitched your offer. A direct conversation with the sales team can help clear any doubts and secure the deal.
Implications of a Delayed Response
Allowing a lead to wait for more than 15 minutes can drastically decrease the chances of connection and conversion. In today's highly competitive marketing landscape, leads can easily find new offers from your competitors on their mobile devices. A delay of a day or longer increases the risk of your business getting lost among competitors and lowers the purchase intent of the lead.
Effective Use of Lead Freshness Tracking
The dashboard prominently displays the lead freshness above all other filters. Prioritizing 'hot' leads is highly recommended. The dashboard also shows the number of hot, warm, cold, and ice leads, updating in real-time.
Monitoring the Freshness Indicator
The color indicator under Freshness also provides valuable insights. It's crucial that the sales representatives assigned to your campaigns capitalize on these fresh opportunities. If the inflow of leads is more than what your sales reps can handle, it's recommended to pause the campaign to avoid unnecessary ad spending.