Today, my CoFounder Ian Grabill and I are announcing the official launch of LeadAide, an automated lead response platform that is coming out of a year-long Beta with several paying customers.
What is LeadAide?
LeadAide automates responses to internet leads using four types of actions: phone calls, texts, messages, emails, and delays. Using these four building blocks, you can create multi-step, multi-channel automated inbound lead response sequences.
LeadAide comes in two versions:
LeadAide for Lead Buyers
LeadAide for Lead Sellers
LeadAide immediately boosts lead contact and close rates for lead buyers. For Lead Sellers, we offer a white label solution that drives down the churn rate of lead buyers, improving lead sellers’ customer retention rate.
Why We Built LeadAide
I’ve worked in the internet lead generation business for 17 years, and in that time I’ve seen the lead business from all angles.
I’ve been a:
Lead buyer, purchasing leads from third-party lead providers like HomeAdvisor, QuinStreet, and many other players, both large and small.
Lead generator, generating driving traffic to my websites
Lead seller generating leads and selling to lead buyers
Agency generating leads on behalf of clients
Over the years, I saw a common theme emerge: Companies and individuals are terrible at responding to and following up on leads.
Multiple studies have found that immediate lead response dramatically increases a sales representative’s chances of engaging with the prospect and closing a deal. If the rep does not connect with the lead on the first attempt, closing a sale requires consistent multi-channel and multi-touch follow up.
In a study sponsored by InsideSales.com, researchers from the Harvard Business Review and the Kellogg School of Management found that the contact rate of web leads drops 100x in a 30 min span vs. a much faster 5 min follow up attempt. The lead qualification rate drops 21x from 5 min vs. 30 min.
Researchers also found that 43% of internet leads receive no follow up. Yes – you’re reading that’s right, your sales team may be reaching out to less than 50% of your leads.
Researchers also found that for web leads, 78% of sales go to the first company to respond to a lead.
Persistence also pays off, the chances of making contact with a lead are over 90% by the 8th contact attempt. That’s why sales teams need to reach out to a lead a minimum of 8 times.
To summarize, the faster you and your team respond to a lead and the more consistently and persistently you follow up with a lead, the better your chances of making contact and closing a sale.
Given the above data points, it’s clear responding immediately and persistently pursuing a lead is the only way to ensure maximum ROI on your leads. Quick and consistent follow up sounds simple, but many businesses find it hard to implement and carry out a highly-optimized lead response process. This challenge is the reality for all types of organizations across multiple verticals from the local plumber, trying to respond to leads between jobs to a sales team at a fortune 100 tech company.
Ian and I built LeadAide to automate and simplify lead follow up, empowering teams to concentrate on closing deals, while LeadAide handles initial lead contact.
LeadAide also provides a powerful data stream enabling managers to easily identify top sales reps, offices, and lead sources while highlighting areas that need improvement.
While there are tools on the market offering similar functionality as LeadAide, most other platforms have two main issues:
They don’t support phone calls, emails, and texts natively; or
They are confusing and difficult to use.
We built LeadAide with simplicity in mind. We find that teams can fully utilize LeadAide functionalities after a 30-minute training session, and most companies can realize a return on investment within their first couple of weeks using LeadAide.
To further illustrate that point, we typically see lead contact rates go from 20-30% to 80% – 90% and overall, and we see a 3x increase in closed sales.
If you are not 100% confident your teams are immediately following up with leads or following up 8+ times – let’s connect, we’d love to show you how LeadAide can provide a dramatic lift in your contact and close rates, just fill out the contact form below.