Speed to lead statistics: what the original studies found
Speed to lead statistics, traced to the studies behind them: who ran them, what they measured, and what they can’t tell you about DMs.
ManySetter teamUpdated 6 min read
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Chapter 01Start here
The two studies behind the numbers
Both are about internet leads, the inquiries people send through a website. Here’s what each report says about itself.
The original speed-to-lead studies
Last checked
| Compared on | LRM study (2007) | HBR article (2011) |
|---|---|---|
| DateLRM study (2007): Presented Oct 16, 2007, at a MarketingSherpa summitHBR article (2011): March 2011 issue of Harvard Business Review | Presented Oct 16, 2007, at a MarketingSherpa summit | March 2011 issue of Harvard Business Review |
| AuthorsLRM study (2007): Dave Elkington (InsideSales.com), James Oldroyd (MIT)HBR article (2011): James B. Oldroyd, Kristina McElheran, David Elkington | Dave Elkington (InsideSales.com), James Oldroyd (MIT) | James B. Oldroyd, Kristina McElheran, David Elkington |
| SampleLRM study (2007): 6 companies, 3 years, 15,000+ web leads, 100,000+ call attemptsHBR article (2011): — | 6 companies, 3 years, 15,000+ web leads, 100,000+ call attempts | — |
| MethodLRM study (2007): Timing of phone calls to web-form leads, from InsideSales.com dataHBR article (2011): — | Timing of phone calls to web-form leads, from InsideSales.com data | — |
| Key findingLRM study (2007): Called in 5 minutes vs 30: 100x the odds of contact, 21x the odds of qualifyingHBR article (2011): Most companies aren’t responding nearly fast enough (its opening) | Called in 5 minutes vs 30: 100x the odds of contact, 21x the odds of qualifying | Most companies aren’t responding nearly fast enough (its opening) |
| LimitsLRM study (2007): Vendor data, phone only, no close rates, patterns varied by companyHBR article (2011): Only the opening is readable for free | Vendor data, phone only, no close rates, patterns varied by company | Only the opening is readable for free |
| Primary copyLRM study (2007): 2007 report (PDF) (opens in a new tab)HBR article (2011): HBR article page (opens in a new tab) | 2007 report (PDF) (opens in a new tab) | HBR article page (opens in a new tab) |
Chapter 02Fact-check
Where “21x” really comes from
Not a Harvard figure
The 21x comes from the 2007 LRM study, built on InsideSales.com data. That report never mentions Harvard. HBR’s 2011 article shares two of its authors.
The study cut the first 3 hours after a form was sent into 5-minute blocks. Qualifying odds were 21 times higher when the call came within 5 minutes than at 30.
Speed-to-lead figures you’ll see, traced
Last checked
One caution: the report gives odds, not the rates behind them. So you can’t turn “21x” into a count of extra qualified leads.
Chapter 03HBR 2011
What you can check in HBR 2011
The Short Life of Online Sales Leads ran in Harvard Business Review in March 2011. Its authors: James B. Oldroyd, Kristina McElheran and David Elkington. HBR lists Elkington as InsideSales.com’s chairman and CEO.
Are you confident that your company is effectively handling potential customers’ online queries? Think hard. Our research shows that most companies are not responding nearly fast enough.
The rest is behind HBR’s paywall. So we don’t repeat its sample, method or figures here.
Seen a multiple credited to it? Check it against the article itself before you quote it.
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- Replies at any hour
- Qualifies with your criteria
- Books the call or sends your link
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Chapter 04Caution
What doesn’t carry over to DMs
The 2007 study timed phone calls to web-form leads. A DM works differently, so treat its multiples as a direction, not a forecast.
Contact meant a live call
The 100x measured reaching a person by phone. A DM thread is already open.
A reply can wait
A call needs the lead free to pick up. A DM waits until it’s read.
Old data, other buyers
Six companies’ leads, about two decades old. Not your audience or your offer.
Each app sets rules
Instagram, WhatsApp and Messenger each limit when a business can message.
The 2007 report guessed why speed mattered: the lead is still near the phone, and interest and need wane quickly. Neither was tested in DMs, so measure your own. For the messaging windows, see Instagram DM limits.
Chapter 05Your data
Measure your own response time
In Oldroyd’s 2007 survey, 38% of 495 companies didn’t know, didn’t measure or didn’t say how long a first call attempt took. Here’s how to know yours in DMs.
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Then change one thing, like who answers at night, and compare the same numbers a few weeks later.
Chapter 06Sources
Sources, and how to cite them
Citing these studies? Point to the originals:
- Elkington, D., and Oldroyd, J. “How Much Time Do You Have Before Web-Generated Leads Go Cold? Lead Response Management: New Research Summary.” InsideSales.com, presented at MarketingSherpa’s Business-to-Business Demand Generation Summit, October 16, 2007.
- Oldroyd, J. B., McElheran, K., and Elkington, D. “The Short Life of Online Sales Leads.” Harvard Business Review 89, no. 3 (March 2011): 28.
Chapter 07Cite