85 lmp dealership-implementation
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1) The document discusses strategies for effectively managing and responding to internet leads to increase vehicle sales. It emphasizes that both the content and timing of responses to leads are critical. 2) Data shows leads are more likely to purchase when contacted by phone within 24 hours and sent price quotes by email. Responding quickly and providing multiple vehicle options are important. 3) The dealer's lead management process involves an automated reply to validate contact info, a personalized email with price quotes, and a phone call to schedule a test drive as key steps to closing the sale.
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Dealer response rates to online leads vary significantly, from 2% to 23%. A study of over 30,000 leads found that dealers who directly contacted customers, provided a price quote, and confirmed vehicle availability within 24 hours of receiving a lead closed sales at a rate 4 times higher than those who did not take these actions. Key actions for dealers to improve their lead conversion rates include responding quickly, offering multiple vehicle and price options to customers, and following up with both email and phone contacts.
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This document discusses using objective data to create effective performance plans and compensation models for dealership staff. It emphasizes the importance of aligning team objectives with business strategy and reflecting them in evaluations and pay plans. The document recommends recruiting, screening, hiring and training tools that the most successful dealers use. It also discusses how one dealership became a top seller by focusing on human resource development and processes like documenting roles and pay plans. Overall, the document provides strategies for attracting and retaining high-performing staff through organizational development.
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85 lmp dealership-implementation
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- 11. A: Increasing Closing Ratios is not “Just About” Response Times… Q: Why the variations?
- 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)
- 16. Sold Leads – First Response Examples
- 17. Sold Leads – First Response Examples
- 18. Sold Leads – First Response Examples
- 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!!!
- 20. New Autoresponse validates customer contact info and seeks corrections
- 21. New Autoresponse invites customer to visit CourtesyChev.com by providing direct links to specific sections of value
- 26. 3 Phone Numbers! (Work/Home/Cell) How important are Phone #’s???
- 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
- 32. Managing Your Assigned Leads; New Leads / Not Yet Responded
- 33. Managing Your Assigned Leads; Emails Received / Not Yet Responded
- 34. Managing Your Assigned Leads; Scheduled Telephone Appointments / Completed
- 35. Proactive Sales Lead Management Responsibility Dormant Leads