A few years ago Structural Graphics was working on improving our lead follow-up process. The goal was to deliver web leads to the appropriate sales person in real-time, while at the same time capturing the lead’s information and recording it in our CRM program. It seems like something that should be easy to do in the 21st Century, but many companies struggle with their own lead follow-up process. Around that time I read a great article about lead flow strategies and was introduced to the 15 Minute Rule.
A quick Google search on the 15 Minute Rule will bring up some interesting results, but nothing about lead follow-up. The first result I found in Google was about the rule of students being able to leave class if the professor fails to show up after 15 minutes. So here’s the deal. This is the unofficial 15 Minute Rule of lead follow-up that you’ve never heard of because in Google’s world it doesn’t exist. Well, it might but I usually only skim the first page or two of results.
The 15 Minute Rule says that you must make contact with a lead that has filled out any sort of lead generation form on you website within… wait for it… 15 minutes. It could be a brochure or literature request or a request for a sales contact. Regardless of what they are looking for, they should be contacted by sales within 15 minutes.
Now you may be thinking that this is ridiculous. Not only is it unrealistic, but it’s just not necessary. I suppose you could make a valid argument for that, but there is some reasoning behind the rule. It’s always best to contact people when you’re fresh on their minds. If they just submitted the request a few minutes ago they are going to know exactly what they wanted and are probably more likely to take your call. It’s really that simple.
I can remember several instances where I received a sales call several days after submitting a request for information, and not taking the call. It was either because I had moved on and found another provider or I didn’t remember the name of the company calling so assumed it was a cold call. So what would have been a very warm call for a sales person turned into a cold call simply because of my bad memory and their delay in follow-up of my inquiry.
This is not to say that the 15 Minute Rule applies to all companies and all sales situations. However, with the overwhelming availability of information and services online, your competitor is only a few clicks away.
So what do you do if you market to your prospects using off-line methods? Our clients that market primarily with direct mail understand the value of driving prospects to the web for this very purpose. They may not be aware of the 15 Minute Rule per se, but they know how valuable an online response is. We have helped our clients develop landing pages and pURLs with the goal in mind of bringing them from a high-impact dimensional mail piece to the web. This integrated approach offers you the high-impact results of a direct mail piece coupled with the effectiveness of online lead collection.
Either way you choose to go after your prospects, the 15 Minute Rule should apply. I am not going to tell you the value of a lead, but I am sure it is not as great as the cost of a lost prospect; a prospect with below-average memory, or maybe just someone who’s too busy to wait for your call.