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Automotive Sales Lead Management Process Price Quote Strategy

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Automotive Sales Lead Management Process Price Quote Strategy

Automotive Sales Lead Management Process Price Quote Strategy

Published in: Automotive, Business, Technology

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  • An all new lineup of environmentally responsible 2010 Nissan cars, trucks and SUV's is available from Kelly Nissan, located in Easton, PA. Kelly Nissan is one of America's best Nissan Dealerships as measured by sales and service customer satisfaction. The Kelly Nissan dealership sponsors the unique social network based Kelly Automotive Community website at http://www.KellyCarCommunity.com. You should visit and join this automotive social network to receive special discounts on Nissan new and used vehicles, genuine Nissan accessories, parts and Nissan repair and maintenance service. Kelly Nissan also hosts a more typical dealership eCommerce website located at http://www.KellyCar.com where their entire inventory of new Nissans, including a huge selection of 2010 Nissan models, as well as their large inventory of Certified Pre-Owned Nissan cars, trucks and SUV's is updated daily, providing car buyers with full details including prices and optional equipment descriptions.
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  • 1. Dealer close rates vary from one dealer to the next… Some as low as 2%, while others are as high as 23% What Dealer actions generate more sales, more often?
  • 2. Internet Purchase Study
    • Over 30,000 Quarterly Morpace 24 hour eSurveys
    • Matched with OEM Customer Sales Data
    • Surveys Measured dealer responses for key factors that previous studies showed as impacting the lead-to-purchase ratio
    Source: Morpace 24 hour survey and OEM sales Data
  • 3. The Combination of Dealer Lead Response Actions that resulted in a Sale at 4 times (400%) higher rate than when not done, when Executed within 24 hours of Lead Submission:
    • Direct contact made by Dealer
    • Customer received a price quote
    • Dealer confirmed availability
    • Dealer showed genuine interest
    • Customer contacted more than once
    Source: Morpace 24 hour survey and OEM sales Data
  • 4. Sales Closing Ratios Key Improvement Action Items
    • Dealer LMP Audits
    • Survey customers who didn’t purchase
    • Review Lead Management Tool for a sampling of previous responses
    • Score first personal response using Reynolds LMP Optimization Scoring Model
  • 5. LMP Scoring Index
  • 6. Bottom Line
    • Customers spend average of 6 hours in online research
    • Customer has Selected their preferred dealership
    • Customer has been promised a price quote on a vehicle in exchange for providing their contact information
    • Customers who send in a Lead are much likely to buy from the Dealer that received the Lead if…
    • Dealer Responds in Less Than 2 Hours
    • Dealer Confirms availability of Multiple Vehicles
    • Dealer Provides a fair price quote in First Email
    • Dealer Contacts the Customer by Telephone (after email)
  • 7. Successful Email Templates
  • 8.  
  • 9.  
  • 10. Successful Email Templates Providing Reasons to Act Quickly (urgency) Dealer Differentiation (why buy here) Offering Alternatives Vehicles to Consider Confirming Vehicles in Inventory for Delivery Offering Next Steps, Setting Expectations Quoting Prices on Multiple Vehicles
  • 11.  
  • 12. Customer goes online and submits Lead Internet Sales Specialist ISS) reviews lead, selects 4 vehicles for Price Quotes BDC Staff makes initial phone call, collects customer info, sets up an appointment for the ISS If no appointment, ISS Contacts customer and seeks appointment and/or agreement

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