Ever feel like you spend all your time fishing for prospects and not enough time reeling them in? You can work tirelessly to obtain qualified leads, but what are you doing to make sure you are converting these leads into business?
If you want to know the key factor for increasing lead conversion, the answer is simple: SPEED. Clients feel a sense of loyalty to the person they speak with first, so your job is to beat your competitors to the punch. Whenever you receive a lead, you need to make first contact!
In fact, speed-to-call is one of the largest drivers of conversion for new customer leads. Studies show that returning a call from a customer within the first 30 minutes produces an average of a 62 percent increase in conversion rates. If called within one hour, this percentage drops a 36 percent increase. If called within the first 24 hours, the increase drops to 17 percent. This means 88 percent of lead conversion happens when contact is made within the first 24 hours.
So loan officers, it’s time to feel the need for speed! By contacting your leads as quickly as possible, you are sure to see a serious increase in conversions and loyal customers.
To learn more about strategies for lead conversion, be sure to read A View From the Top: The Wisdom of Elite Producers in the XINNIX Resource Library!