Monthly Percentages

[ryanabbott]

I have a quick question for the experts here. I tried to do a search on here but all I could find is old data. I want to know how my Toyota store compares to National averages. Any imput would be appreciated. Here are my stats:

Internet: 16% Leads/Shown
35% Shown/Sold
6% Leads/Sold

Phone: 40% Leads/Shown
31% Shown/Sold
13% Leads/Sold

My team are just appointment setters. We have no contact with the customer after they come in for their appointment. My feeling is that our leads to show are good but once we get them in the door we can't sell them. Is that what these numbers tell you?

Thanks in advance for any input.

 

[emilymoore]

My averages for internet were 1 out every 4-5 leads came in (20-25%) and out of those about 60% bought for a 12-15% lead/sale closing ratio. Some months were higher, some lower, but that was my average.

 

[emilymoore]

If you get an internet customer to come in, they should be easier to close because a lot of the work has already been done. Since you use appointment setters, what is your process for turning them over to a salesperson? (Does the customer feel they are starting over from square one again?)

 

[Jerry Thibeau]

Internet: 16% Leads/Shown
35% Shown/Sold
6% Leads/Sold

Phone: 40% Leads/Shown
31% Shown/Sold
13% Leads/Sold

Your overall Internet sold ratio is not good. 10% sold would be a minimum number to strive for. Keep in mind different leads sources are going to experience different close ratios. Your phone-up sold ratio is better, but I have clients achieving north of 20%, so there's room for improvement. Your close ratio when they show is low as well. A lot of my clients are closing 50% of their appointments.

My question would be the sales skills of those taking the leads. I would only allow top performing reps to handle your appointed leads, thus you give yourself a better chance of selling. I would also make sure managers are doing TO's early and late in the process.

What are your actual appointment percentages and what percentage of the appointments actualy show?

 

[sweece]

Your overall Internet sold ratio is not good.

Subtlety is key...

 

[joe.pistell]

...
Phone: 40% Leads/Shown
31% Shown/Sold
13% Leads/Sold

Ryan,

Just to make sure, let me write this in my own words.

100 phone calls come in,
40 appointments show (40% of 100).
12.4 appointments buy (31% of those that show, buy)

Final result: 13% of phone ups are closed.

If that's the case, then your team is killing it! 40 shows per 100 calls is awesome in my book. It looks like the "hand off" to the sales dept is the weak link.

What's your process here? Does...
--The Manager call to greet and confirm prior to appointment date?
--The Manager greet appt. at door and hand off to "designated hitter"?
--Is the Test drive car standing tall at entrance with shoppers name on dash?

We don't do any of the above, do you?

 

[joe.pistell]

Ryan,

Does your team get an incentive to bring them back if they don't get sold?

 

[Jerry Thibeau]

Subtlety is key...

Clients who pay me get the same blunt force truth. I never sugar coat anything!

Now if a friend of mine showed me his/her baby and that baby was ugly, I'd probably keep my comments to myself.

In this business, if your baby is ugly, I am going to tell you your baby is ugly! Then once you come to terms with the fact that your baby is ugly, well then we can get down to business and make some changes, otherwise you keep nurturing an ugly baby.

 

[ryanabbott]

Ryan,

Just to make sure, let me write this in my own words.

100 phone calls come in,
40 appointments show (40% of 100).
12.4 appointments buy (31% of those that show, buy)

Final result: 13% of phone ups are closed.

If that's the case, then your team is killing it! 40 shows per 100 calls is awesome in my book. It looks like the "hand off" to the sales dept is the weak link.

What's your process here? Does...
--The Manager call to greet and confirm prior to appointment date?
--The Manager greet appt. at door and hand off to "designated hitter"?
--Is the Test drive car standing tall at entrance with shoppers name on dash?

We don't do any of the above, do you?

Joe. Thanks for the kind words. The hand off to the sales people is the weak link because of the fact that whoever "greets" them gets to work with them. In my experiences, those who are always waiting outside pacing are always going to be the ones that greet them and are usually the ones that broom through customers. Management here has always had the "Open Floor" policy and has been hesitant to change to a selective UP system like I suggested. In time, I think (hope) we will, we just aren't there yet.

To answer your question about how they get transitioned, there is only a process when it's a pretty solid appointment. If we know the customer is coming in at say 3:30, we will have the car cleaned and waiting out front for them. Our hope is that the customer is not waiting more than 10 minutes from the time they arrive to the time they are driving. The customer asks for the IM when they arrive and they are greeted with a handshake, a nice to meet you and _____ is your sales professional that will be helping you. The salesman is then briefed in the sales office of what has been said and gone over with this lead. I would like the salesman to be picked before hand but that idea has been shot down so far because they don't want to selected salesman to just wait for this customer to come in. This system has its flaws but it's a work in progress.

Jerry, I agree with you (for the first time) 100% about the fact that our shows need to improve in to sales. I agree that 50% should be the minimum that we strive for. This I think is because of lack of salesman follow up and because of who works with the leads. I think that if the IM were to pick which salesman blends best with the customers personality then we would see these numbers increase. That is my goal going forward.

 

[ryanabbott]

Ryan,

Does your team get an incentive to bring them back if they don't get sold?

In two of our stores, our ISM's get paid on SHOWN and SOLD. The other two they do not. They just get paid on SHOWN. But, once the customer is turned over to the salesman, ownership gets switched over to them in CRM. This is where I think we fall short as well. Lack of salesman follow-up. At our Honda store, we just started a mini BDC. We hired a third team member to be a BDC 2. He calls all 3-6 day old prospects (that haven't come in) and all walk-ins that leave w/o buying. That is how he gets paid. To get these people in or back in once they leave. We just started this 3 weeks ago. If it does well for us then we will use it in our other stores.