101 lmp dealership-implementation


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101 lmp dealership-implementation

  1. 1. ATTRACT INTERACT RESPOND SELL SERVICE RETAIN Courtesy Chevrolet Internet Sales Team 03/16/06 Weekly Strategy & Tactics Meeting
  2. 2. www.PHXChevrolet.com
  3. 3. www.Courtesy-Chevrolet-Phoenix.com
  4. 4. www.PHXChevrolet.com
  5. 5. www.PHXChevrolet.com
  6. 10. <ul><li>How much impact does “ What ” an Internet Sales Specialists does have on whether or not the lead is sold? </li></ul><ul><li>How much are results effected by “ When ” you do it? </li></ul><ul><li>Two critical sales closing factors: </li></ul><ul><li>Timing Effects Sales Results </li></ul><ul><li>ISS Lead Response Attributes </li></ul>Response Time & Content
  7. 11. A: Increasing Closing Ratios is not “Just About” Response Times… Q: Why the variations?
  8. 12. *Survey Participants who Purchased a Vehicle were identified via RDR data cross reference and matching with Internet Lead Data Recent Marketing research (Q1, 2005) confirms the Lead Management Practices collected during “Best In Class” Dealer Benchmark studies. How to sell more vehicles to customers that submit Internet leads… Without relying on opinions or seat of the pants management! #4 #3 #2 #1 Top 4 Ways to Close More Sales to Leads Received 11 27% 17% Make Direct Phone Contact with Customer (after sending Email w/availability & prices) 9 27% 20% Send Price Quotes by Email to Customer 5 25% 21% Contact Customer more than once by Email and Telephone (within First 24 Hours) 3 24% 21% Make sure Customers are either Completely or Very Satisfied with the Lead Response Statistical Correlation Factor of Response attribute with Vehicle Purchase % of Purchase* among the Leads who DID Experience the attribute Purchase Respondents* who DID NOT experience the attribute Dealer Response Attributes Experienced by Customers within 24 hours of Submitting an Inquiry (Lead)
  9. 13. 5 Lead Management Activities that Drive Lead-to-Sales conversion at 400% higher rate* <ul><li>Consumer received price quote(s) by email within first 24 hours </li></ul><ul><li>Direct customer phone contact made by Salesperson within first 24 hours </li></ul><ul><li>Salesperson confirmed availability of multiple vehicles within first 24 hours </li></ul><ul><li>Salesperson showed genuine interest </li></ul><ul><li>Customer contacted more than once within first 24 hours </li></ul>*Source: Morpace 24 hour survey and RDR sales Data (new 2005 study reconfirms close ratio impact factors)
  10. 14. Lead-to-Sales Closing Rate Improvement Action Items <ul><li>Courtesy LMP Review </li></ul><ul><li>Survey customers who didn’t purchase </li></ul><ul><li>Review Lead Management Tool for a sampling of previous responses </li></ul><ul><li>Score first personalized responses using the eBusiness Evaluation System </li></ul>
  11. 16. Sold Leads – First Response Examples
  12. 17. Sold Leads – First Response Examples
  13. 18. Sold Leads – First Response Examples
  14. 19. Actual Leads – First Response Examples Pay attention to details in outbound emails before hitting the “Send” button!!! Pay attention to details in outbound emails before hitting the “Send” button!!!
  15. 20. New Autoresponse validates customer contact info and seeks corrections
  16. 21. New Autoresponse invites customer to visit CourtesyChev.com by providing direct links to specific sections of value
  17. 26. 3 Phone Numbers! (Work/Home/Cell) How important are Phone #’s???
  18. 27. <ul><li>Automated Email Reply acknowledging receipt – Verify Customer Contact Info & ask for more </li></ul><ul><li>Personalized Email within 20 minutes of business day that provides price quotes on 4 vehicles and sets stage for a follow-up telephone call within 15 minutes </li></ul><ul><li>First Phone Call to customer: verify receipt of email and schedule a demo/test drive appointment </li></ul><ul><li>Appointment Confirmation by Email and Telephone </li></ul><ul><li>Instruct customer to check in at reception desk, ASM reviews agenda upon customer arrival, introduces ISS who sells & delivers the vehicle </li></ul><ul><li>Follow-up Email that sets the stage for referrals and additional business, to be routed to ISS who sold car </li></ul>Lead Management PROCESS 101
  19. 28. First Call After Sending Personalized Email <ul><li>Verify customer has received the email with price quotes on 4 vehicles. If relevant, obtain customer’s “REAL” email address and schedule a follow-up call after re-sending quotes to new email address (work) </li></ul><ul><li>Establish what is most important to your customer by following the Courtesy Chevrolet Internet Price-Quote Follow-up word track </li></ul><ul><li>Set the stage for your Customer’s expectations… Create a buying “Plan” during the conversation </li></ul><ul><li>Schedule appointment for a vehicle presentation and test drive at dealership or customer’s location </li></ul><ul><li>Follow-up with email confirmation of appointment </li></ul><ul><li>Prepare for appointment by locating vehicle(s) and ensuring their availability for demo drive </li></ul>Purpose: New Lead Phone Follow-up
  20. 29. Telephone Process <ul><li>85% of Web visitors who contact the dealership before coming into the showroom, use the phone </li></ul><ul><li>Direct Phone contact (after responding to an Internet lead by email), has the greatest impact on increasing sales closing ratios </li></ul><ul><li>Phone Follow-Up Sales Strategy (FUSS): </li></ul><ul><li>Focus on having a set of objectives in front of us, each time we make an email follow-up call </li></ul><ul><li>Word Track Forms (scripts) are used for training and collecting customer information during each call that is made immediately after sending personalized email response </li></ul>
  21. 30. … The Bottom Line <ul><li>Customer has spent up to 6 hours in researching a vehicle online before sending us a lead </li></ul><ul><li>Selected Courtesy Chevrolet as their dealer </li></ul><ul><li>Requested a price quote on a vehicle </li></ul><ul><li>They are much likely to buy from Courtesy if you… </li></ul><ul><li>Respond quickly – without “fluff and puff” </li></ul><ul><li>Confirm vehicle availability – with alternatives </li></ul><ul><li>Provide a fair price quote – multiple vehicles </li></ul><ul><li>Contact them by phone – verify receipt of email </li></ul>
  22. 31. Vehicle Shopper Behavioral Profiles ¹ 1 Profile Index of 100 equates to the industry average Internet Users (IU) Non-Internet Shoppers (NIS) Non-Internet Users (NIU) Time Investors 137 37 50 Product Experts 113 76 85 Price Sensitive 112 73 91 Dealerphobes 112 89 74 Empowered Negotiators 100 96 103
  23. 32. Managing Your Assigned Leads; New Leads / Not Yet Responded
  24. 33. Managing Your Assigned Leads; Emails Received / Not Yet Responded
  25. 34. Managing Your Assigned Leads; Scheduled Telephone Appointments / Completed
  26. 35. Proactive Sales Lead Management Responsibility Dormant Leads
  27. 36. Courtesy Chevrolet <ul><li>Lead Management Process (LMP): </li></ul><ul><li>Automated Reply w/Info Validation Request </li></ul><ul><li>First Email w/Price Quotes on 4 Vehicles </li></ul><ul><li>Phone follow-up to verify receipt of email… and to get a demo/test drive appointment! </li></ul><ul><li>Email Confirmation when Voicemail is left </li></ul><ul><li>Get second email address during phone call </li></ul><ul><li>Outbound Follow-up Calls made by BDC </li></ul><ul><li>Inbound eSales Calls handled by BDC </li></ul><ul><li>Appointment Reception sets stage for the Sale </li></ul>