Follow-up failure is prevalent in every business category around the world. In 2011, the Harvard Business Review studied 2,241 U.S. companies to see how quickly they followed up on web-generated leads. What they found was alarming considering the astronomical amounts of resources that private-sector businesses spend on generating leads.
Their data showed that:
• 37 percent responded within an hour
• 16 percent responded within 1–24 hours
• 24 percent took more than 24 hours
• 23 percent never responded at all
The Harvard Business Review found the results to be particularly shocking in light of a previous study in which they found the following:
Firms that tried to contact potential customers within one hour of receiving an inquiry were nearly seven times as likely to qualify the lead (which was defined as having a meaningful conversation with a key decision maker) as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that wait 24 hours or longer.
Does this apply to you?
I think so. I believe major and legacy gift fundraisers reaching out to donor prospects in a timely manner will garner the same results— they'll be 700% more likely to have a meaningful conversation with them.
Don't you agree?