Speaking of stupid Nazi like Buy or Die sales processes... I just crunched some numbers for one of my clients and surprise, their performance is typical for auto dealers. 62% of their sales happen within one day of a customer contacting them or walking onto their lot. 85% of their sales happen within the first 7 days. Think about that for a moment, you got 7 days to close a lead because after that your odds start to drop like a stone. Only 6% more will buy in the next week, only 3% more the following, and only 2% the week after that. Basically 96% of your sales are going to happen within 30 days if they're going to happen.
The implications are clear, if you can't get a lead engaged, into your store and sold within 7 days your odds of closing a sale are slim. Managers, sales reps and BDCs should concentrate on fresh leads that engage and let the others go. After that, humans should follow up with only leads that are engaged and let the automated systems drip on the rest.
If you're forcing your people to work leads that aren't going to buy to the detriment of ignoring fresh leads that still have a chance, you're a fool that's wasting your money, wasting your employees time and pissing off customers.
And it doesn't really matter what type of lead it is either. Internet, Walk In, Phone, no matter what kind of lead it is it's not getting any fresher.
The only exceptions to this are going to be lease renewals and some loan payoffs. But again, you need to be smart. Identify these customers and start dripping on them with your best people 6 months out once a month.
The implications are clear, if you can't get a lead engaged, into your store and sold within 7 days your odds of closing a sale are slim. Managers, sales reps and BDCs should concentrate on fresh leads that engage and let the others go. After that, humans should follow up with only leads that are engaged and let the automated systems drip on the rest.
If you're forcing your people to work leads that aren't going to buy to the detriment of ignoring fresh leads that still have a chance, you're a fool that's wasting your money, wasting your employees time and pissing off customers.
And it doesn't really matter what type of lead it is either. Internet, Walk In, Phone, no matter what kind of lead it is it's not getting any fresher.
The only exceptions to this are going to be lease renewals and some loan payoffs. But again, you need to be smart. Identify these customers and start dripping on them with your best people 6 months out once a month.
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