The 5-Minute Rule: Accelerate Lead Conversion and Nurture Stronger Relationships When a lead contacts you requesting more information about your business, how long should you wait to follow up with them? While the rule of thumb is no later than one business day, if you use the 5-Minute Rule, you could speak to more leads and nurture stronger relationships with them. The 5-Minute Rule in Action If you receive a lead and reach out to them within five minutes, you’re 21 times more likely to contact them than if you had waited 30 minutes to respond. Additionally, you’ll be able to convert your leads 22 times more often if you use the 5-Minute Rule. Measuring Your Calls About 65% of businesses get their highest-quality leads through phone calls. If that’s true for you, it’s essential you call those potential customers back in a timely manner. If you do, you will do better than most of your competitors! Around 63% of businesses fail to respond to leads in one hour, and 24% fail to respond in one day. The longer you wait, the more likely your leads will lose interest. That said, the 5-Minute Rule isn’t realistic for every business. If you run a small company, you may not be able to afford to hire someone to wait for leads and follow up immediately. If that’s the case, consider implementing automation in your lead nurture strategy to enhance the experience your leads and customers will have. Ultimately, remember that time is of the essence — you should attempt to reach out to your leads as soon as possible for your business. The longer the delay, the lower your odds of conversion are. Use your time wisely!
Take Control of Your Remote Team’s Efficiency and Budget With Harvest’s Time-Tracking Solution If you’re regularly out of the office on business or have employees working from home, it’s challenging to keep an eye on all of the different projects and tasks your company tackles. You’re probably constantly distracted by questions like: • Is my team really working efficiently? • Are they on track to meet their deadlines? • Are they about to go over budget? There’s no way to quickly find answers when your employees log their work on paper or 100 different Google spreadsheets. Fortunately, they don’t have to do that in 2023. You can easily check in and hold your team accountable with a time-tracking software like Harvest. Harvest makes it simple for your employees to track the time they spend on different tasks, and it gathers all that data in one place for you. Even better, the software generates “instant reports” to keep you and your managers updated on the billable hours you’ve invested; the money you’re spending on supplies, travel costs, and more; and how much capacity your team has to take on more work. When one of your marketing projects reaches the budget you set, Harvest will immediately send you an alert! If you use QuickBooks or Xero, Harvest can also integrate with them to send invoices to your clients based on its tracked time. Doing this only takes two clicks, and your clients can pay you quickly and easily through the invoice. Harvest will even mesh with your other communication, customer relationship management (CRM), payment processing, and project management tools. For example, it can fit seamlessly into your existing workflows if you use Asana, Slack, Trello, Teamwork, Stripe, or BaseCamp. You can access Harvest at any time from your desktop, laptop, or cellphone. For small-business owners, one of the best things about Harvest is that it’s designed to scale with you. You can use the software for free to manage two projects or add unlimited team members and projects for just $10.80 per seat per month. To learn more about the problems Harvest can solve and try a 30-day free trial, visit GetHarvest.com.
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