What is the timetoreply Ratio™ and why does it matter?
When it comes to increasing contact rates, and closing more sales, speed matters! In fact, research published in the Harvard Business Review has shown that the “odds of contacting a lead decrease by over 10 times in the first hour”.
The big standout from the same researchers – “for inquiries submitted on the web, 78% of sales go to the first company to respond”.
That’s why we’ve introduced the timetoreply Ratio™ – the single greatest NEW ratio to increase sales via email.
How is your timetoreply Ratio™ calculated?
*First Contact Success Rate = Percentage of inbound leads replied to by an Agent that gets a customer response.
**Agent First Reply Rate = Percentage of inbound leads that receive a first reply from the agent.
***Average First Time to Reply = Average time it takes an Agent to first respond to an inbound lead.
Example 1: Good timetoreply Ratio™
Example 2: Room for improvement
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timetoreply recommends you aim for a timetoreply Ratio >1.0. However, you might have your own benchmarks, which will also be industry related.
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