Definition
The elapsed time between a lead's inquiry and the first sales response. Faster speed-to-lead is one of the strongest predictors of conversion — leads contacted within 5 minutes convert at much higher rates than those contacted an hour later.
Why it matters
Speed to lead matters because a prospect who just filled out a form or left a voicemail is often shopping several businesses at once, and attention fades fast. For a service business, being the first to call back frequently wins the job outright, regardless of price. The hard part for owners is that inquiries arrive while they're mid-job or after hours, which is exactly why after-hours coverage or automated first response tends to pay for itself.