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Do these numbers Suck?

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R

rapidchevrolet.com

Full Sticker
Nov 9, 2009
18
0
First Name
Matt
#1
Hi-Everyone,

I am working on getting some imput from some of you that have been doing this for a while. Can you give me some ideas of where I am failing or falling down? It seems that I have been doing ok. But I really have no clue. Here is breakdown of the #'s that I have for the year and was wondering if some of you could reveiw them and tell me where I need improvement. I have the text in red where I think I am having a problem and wonder if my #'s are normal in this area or if these are much to high... Thanks for looking and I appreciate your feedback...

Tools of the trade:
Cobalt site,
vinsolutions ilm
reynolds crm

Total Leads 536

Lead Status Type: Lost (256) (30.05%)
Lead Status: Purchased different brand different dealer (23) (2.7%)
Lead Status: Working with other salesperson (37) (4.34%)
Lead Status: Out of market (16) (1.88%)
Lead Status: Bad Credit (26) (3.05%)
Lead Status: Did not respond (14) (1.64%)
Lead Status: Requested no further contact (8) (.94%)
Lead Status: No agreement reached (20) (2.35%)
Lead Status: Purchased same brand different dealer (17) (2%)
Lead Status: Purchased from private party (2) (.23%)
Lead Status Type: Bad (257) (30.16%)
1.Lead Status: Dealer test lead (17) (2%)
2.Lead Status: Duplicate lead (128) (15.02%)
3.Lead Status: Incorrect/disconnected customer phone (4) (.47%)
4.Lead Status: No contact in five days (48) (5.63%)
5.Lead Status: No intent to buy (29) (3.4%)
6.Lead Status: Bad or no contact information (22) (2.58%)
7.Lead Status: Incentivized (i.e. consumer entered contest) (3) (.35%)
8.Lead Status: Shopping out of area (2) (.23%)
9.Lead Status: Prospect claims never submitted (3) (.35%)
10.Lead Status: Underage prospect (1) (.12%)

Lead Status Type: Active (276) (32.39%)
Lead Status: Waiting for prospect response (153) (17.96%) We are having a problem with people getting emails sent to spam could this be the problem?
Lead Status: Active Lead (114) (13.38%)
Lead Status: New Lead (9) (1.06%)
Lead Status Type: Sold (63) (7.39%)
 
#2
Please keep in mind that I have never used cobalt for internet management. We also get over 500 leads a month.

A lead to us is an inquiry during a one month period. All the lead status stuff is a little confusing. If we had 536 total leads in a month, we review that data as follows. In your case it's 536 for this year.

#1. We do not count duplicate leads in our monthly total.
#2. We do not include any out of State Zag leads ( USAA-AAA-Consumer Reports-Us News etc..)
#3. We do not include bad or no contact information with our monthly lead totals.

So out of your 536 leads you had 128 duplicate leads, 22 bad contacts ( invalid). Plus add any other leads that you do not feel were legitimate.

Everything else is pretty much counted. Take 128 + 22 from 536 and you have 386 leads. Total sold 63 . That is a very good closing ratio.



Hope this helps
 
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#4
rapidchevrolet.com said:
Total Leads 536

Lead Status Type: Lost (256) (30.05%)
Click to expand...

I don't have a lot of time to respond so I'll pick one and give you some feedback.

It's more than 30% lost rate, it's closer to 50%. Way too high. Salespeople are marking them lost too soon. In my world they would not be marked as lost at all. Even if they bought elsewhere I would still want to market to them. There's more than one car in most driveways. Treat them like a customer they may become a customer.

That's all I have time to write for now. But may respond more next week when I have more time.

Good thread! I like that you put yourself out there and seek advice.
 
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#5
Jerry Thibeau said:
I don't have a lot of time to respond so I'll pick one and give you some feedback.

It's more than 30% lost rate, it's closer to 50%. Way too high. Salespeople are marking them lost too soon. In my world they would not be marked as lost at all. Even if the bought elsewhere I would still want to market to them. There's more than one car in most driveways. Treat them like a customer they may become a customer.

That's all I have time to write for now. But may respond more next week when I have more time.

Good thread! I like that you put yourself out there and seek advice.
Click to expand...

That could be a in difference terminology. The sales lead was lost. But that doesn't mean you can't create a follow up process on lost leads to sell them service. A lot of dealers do that within our CRM.
 
#7
mattwatson81 said:
That could be a in difference terminology. The sales lead was lost. But that doesn't mean you can't create a follow up process on lost leads to sell them service. A lot of dealers do that within our CRM.
Click to expand...

Matt,

When salespeople mark people "lost" it's because they've given up on them all together and have no plans of future contact. They in fact should be prospecting the household and looking for future opportunities.
 
#8
Jerry Thibeau said:
When salespeople mark people "lost" it's because they've given up on them all together and have no plans of future contact. They in fact should be prospecting the household and looking for future opportunities.
Click to expand...

Precisely why a CRM Architect is needed to make sure customers aren't arbitrarily marked lost. Dealership Internet Department vs. Sales Floor Staff

Most sales people typically don't have the training or the adept selling fortitude that stops them from being lazy most of the time. Someone always needs to be looking over their shoulders.
 
#9
I absolutley agree with you on this Alex. In our group Sales People do not have the access to make a customer lost. They have to e-mail one of the Managers, who will in turn look over what they have done with it, then decide if the best action is to put them in another Sales Persons hands - Because they didn't put the effort in, wether they need to be put in another campaign - which we have several different ones for different stages Customers are in..and so on. So we check the follow up first, as managers, and decide from there the best course of action. This has dramatically reduced the LOST customers and is increaing our closing on 30 day old, 30-60, 60-90 days and up. We prefer never to mark them lost. Typically will only do so if a customer either says do not e-mail or call us anymore.

I also agree with Heritage Honda that we do not count duplicate or invalid leads into our numbers..such as leads with no phone number and bad e-mail ( no way to contact from the get go ) In fact we send for lead reimbursements to all thrid party lead providers in these instances..so we are not paying for as well as not counting them.
 
#10
Here's what I tell our dealerships, be persistent in your attempts to get an appointment; it will pay off. If at first you don’t succeed in reaching the car buyer, call and email at regularly scheduled intervals during the next 15 days. Be aggressive for the first five days with two calls and an email daily to the prospective buyer but leave only one voicemail message. Alternate calls and emails during the next 10 days. Use call and email scripts to schedule an appointment.
For ResponseLogix clients SmartFollow kicks in after 15 days to automatically follow-up and reactivate the lead if the customer doesn’t buy right away. SmartFollow pursues older leads for 180 days and frees your internet sales staff to focus on new leads. If SmartFollow reactivates a lead, jump on it quickly; a reactivated lead is more valuable than a new incoming lead. A reactivation is someone who has chosen to do business with you. If a call is made within 10 minutes of reactivation, you can expect to close the deal 20 percent of the time.
 
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