MetaLocator has been working on a new feature for customers for tracking leads. We have always reported response times on the backend of our site, but now we are enabling the ability for our users to display it in the results. The average response time is captured when a given recipient acknowledges a lead. This data helps our users understand how quickly customers are getting replies to their inquiries, and now this data can be utilized in locator results in order to inform the prospective customer. Users will find many advantages to displaying the response time in their location results.
Currently, this feature is available automatically for our enterprise customers, and for our other customers it can be utilized as an add on. To add this option is easy for users, in the interface it can be added as a field within the results settings. To learn more about adding this feature, see our support article.
Reasons to Display Response Time
Set realistic expectations for customers regarding when they will receive a response from a dealer by displaying response time . This can help keep expectations on par between both the dealer and customer when conducting business together.
Response time can also help customers prioritize which dealers to contact. Customers will be able to see which dealers reply the fastest. This helps them determine which dealers to contact based on their availability and responsiveness to leads. Response time assists customers in making more informed business decisions by providing insights on which dealers to work with.
Displaying response time has many advantages for customers when they are conducting business with dealers, but displaying response time also has positives for dealers as well. Dealers can benefit from seeing response times by providing them with valuable insights into how they can improve their service. If a dealer is lacking in responsiveness compared to other dealers they can now be made aware of that easily. It helps provide a metric for quality assurance and performance management for dealers regarding customer inquiries.
By providing this transparency, it can help in building trust amongst customers and dealers. This transparency to the customers sets the proper expectations when entering the business process with the dealers.
Why is Response Time Important?
Response time is proven to be incredibly important across all forms of business transactions. According to Service Bell, the first vendors to respond to leads win between 35 and 50% of sales. It is also worth noting that if a lead is not responded to at all, 30% of shoppers will go directly to a competitor. Initial interactions set the standard for the client’s expectations. A Velocify survey even showed that responding within one minute can improve lead conversions by 391%.
Response time is also important to the customers due to their preconceived expectations. Customers don’t want to spend time waiting for responses from dealers, in today’s fast-paced business environment 82% of consumers expect responses within 10 minutes, according to Small Business Trends.
Customers are proven to be making transaction decisions based on the quality of service, in an ever growing world of business transactions, providing great service is a way to stand out to consumers. According to Service Bell, 71% of clients have made purchases based on experience quality. It is also reported that slow response times can lead to a 15% increase in churn rate, meaning fewer people will progress through the sales process.
Based on the statistics presented, it is evident that dealers should be tracking their lead response times through MetaLocator to optimize business and customer satisfaction.
Tracking Leads on the Backend
The option to display this feature publicly may not be a want or need for all of our customers. This function does allow users to track the response times on the backend to help improve business within the network of dealers. This can also allow for users to influence sort search options by response time, allowing them to prioritize well performing dealers without the general public knowing all of the response times.
MetaLocator looks to continue to provide more features for customers to utilize to help enhance their store locator software and business operations. To learn more about MetaLocator and our offerings, visit our products page.