In sales, speed of response is the time from the moment the company receives a new request for information until the prospect receives a quotation with the requested information.
It has been proven that the speed of response directly influences the probability of closing the sale. In other words, for every minute that it takes to send a quote, it is less likely that the salesperson will be able to close the sale.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.