News Feed Item

Two-Thirds of Companies Fail to Effectively Follow Up on Inbound Sales Leads, New Research Reveals

Second annual Sales Effectiveness Report on Lead Follow-Up shows that even the hottest leads often get left behind

FOSTER CITY, CA--(Marketwired - December 01, 2016) - Conversica, the only provider of artificial intelligence-based lead engagement software for sales and marketing, today announced the release of its 2016 Sales Effectiveness Report on Lead Follow-Up. The report determined that many sales teams are not hitting best-practice targets and that an astonishing number failed to respond to incoming inquiries at all.

There is an abundance of research on the importance of what Conversica describes as the Four Ps -- promptness, personalization, persistence and performance -- on successful lead engagement. The goal of Conversica's research was to determine the extent to which companies are putting this information into practice. To do this, commissioned researchers visited the websites of 548 companies across nine industries and asked to be contacted. They found that:

  • A surprising one-third of the companies contacted did not respond at all to a direct, specific sales inquiry.
  • Of those companies that responded, over two-thirds of them gave up after only one or two tries.
  • 42 percent of responding companies did so within five minutes -- a 36 percent improvement in promptness compared to last year's findings.
  • Companies have also shown major improvement in personalization, with the percentage of "A" grades achieved increasing more than 40 percent over the previous report.

"Inbound leads are an expensive resource, crucial to the success of any organization," said Alex Terry, CEO of Conversica. "Our annual series of reports offers a snapshot of how companies are handling them today and how that behavior is changing over time. We compared best-practice research with real-world execution to help businesses discover ways to optimally align their sales teams with best practices."

Companies make too few attempts
68% of companies gave up after two or fewer attempts to contact the lead, even though the optimal number of attempts is between 5 and 11. In several industries, including Insurance, Brokerage and Media/Publishing, over 90 percent of companies gave up on their leads prematurely.

"Connecting with a lead is crucial, but one attempt is almost never enough to be effective," explained Terry. "Best-practice research proves that an increased number of attempts yields increased conversions -- overall response and conversion rates continue to grow at the eighth attempt and beyond."

Email is fastest, but…
As more companies transition to email communication with leads, crafting emails that reach the inbox becomes increasingly essential. Yet the findings of the 2016 Sales Effectiveness Report reveal that emails were much less successful at reaching targets than in the previous report, a sign that companies must work harder to tailor emails around advancing filtration technologies.

Summing up the report findings, Terry concluded, "With the large number of sales teams not hitting best-practice targets -- not to mention the shocking number of companies which did not respond at all -- it's clear that most businesses are not investing enough attention on inbound leads to maximize their Return on Investment (ROI). Prioritizing responsiveness and making use of sales and marketing technology can help."

Report availability
To obtain a copy of Conversica's 2016 Sales Effectiveness Report on Lead Follow-Up, visit http://con.ai/lead-follow-up-report-2016. To request your company be included in a future report, as did more than 100 companies last year, visit http://con.ai/4p-assessment-request.

Live webinar to share more
Conversica will discuss the research methodology, share results from the report and reveal best practices for lead follow-up improvement in a live webinar with interactive questions and answers. Those interested in attending live or receiving a link to the recording can register at http://www.anymeeting.com/PIID=EC58DC80874F3F.

Survey methodology
Commissioned researchers submitted inquiries on the websites of companies from nine industries, covering both business-to-consumer (B2C) and business-to-business (B2B). Companies were selected by compiling rankings from sources such as Forbes, Bloomberg and industry-specific publications. This research was conducted over a one-month period, using different secret shopper personas to solicit contact from the companies surveyed.

About Conversica
Conversica is the only provider of lead engagement software for marketing and sales organizations that is powered by artificial intelligence. Conversica's automated sales assistant automatically contacts, engages, nurtures, qualifies and follows up with leads via natural, two-way email conversations until the lead converts into an opportunity or opts out. The sales assistant interprets the lead's intention and sentiment in email replies and extracts key information, such as phone numbers and the best time to call, answers questions, and then expertly hands off the lead to the appropriate salesperson to close the deal. As a result, Conversica customers find their next customers more quickly and efficiently, with no leads left behind.

Used by more than 16,000 sales representatives worldwide, Conversica maximizes sales opportunities by optimizing sales team productivity and has helped create more than $8 billion in revenue. Recognized by Gartner as a 2016 Cool Vendor in CRM for Sales, Conversica is a portfolio company of Kennet Partners and Toba Capital and is headquartered in Foster City, California. To learn more, visit conversica.com and follow us on Google+, YouTube, Facebook, LinkedIn and Twitter.

Image Available: http://www.marketwire.com/library/MwGo/2016/11/29/11G123541/Images/4Ps_image-41fb90996c59aa1ca3b8ad8f730cd365.jpg

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...