1. Stop being a LURKER - join our dealer community and get involved. Sign up and start a conversation.
    Dismiss Notice

Internet ROI Report

Discussion in 'CRM, ILM, Chat, Desking, Emails, Phone, SMS' started by Stefan, Apr 26, 2010.

This forum sponsored by...
?

What should an "Internet ROI Report" take in consideration?

  1. Email Leads

    0 vote(s)
    0.0%
  2. Email Leads & Phone Leads

    4 vote(s)
    28.6%
  3. Email Leads, Phone Leads & Fresh Ups

    3 vote(s)
    21.4%
  4. Email Leads, Phone Leads, Fresh Ups & Repeat Customers

    7 vote(s)
    50.0%
  1. Stefan

    Stefan
    Expand Collapse
    Jr. Refresher

    First Name:
    Stefan
    Dealer or Company Name:
    Dolan Auto Group
    Twitter Handle:
    stefanprecup
    Joined:
    Apr 15, 2009
    Messages:
    208
    Likes Received:
    86
    Location:
    Reno NV
    What "Sources" should an "Internet ROI Report" take in consideration?

    I have decided that from now on I will put it up for vote before I ask vendors to make any changes on their side. Here is a simple poll... Help me see the light if I am wrong, or help me convince the vendors that its time for some changes...
     
    Collapse Signature Expand Signature
    #1 Stefan, Apr 26, 2010
    Last edited: Apr 26, 2010
  2. This forum sponsored by...
  3. Jerry Thibeau

    Jerry Thibeau
    Expand Collapse
    Sr. Refresher

    First Name:
    Jerry
    Dealer or Company Name:
    Phone Ninjas
    Twitter Handle:
    thephoneninja
    Joined:
    Apr 28, 2009
    Messages:
    1,147
    Likes Received:
    329
    All of the above. A good ROI report will break out your advertising campaigns and count the total amount of leads that come in from all four sources you mention.

    Lead Source
    Amount spent on lead source
    Number of leads generated per lead source
    Number of appointments per lead source
    Number of shows per lead source
    Number of sold customers per lead source
    Average revenue generated per lead source sold.
    Total revenue generated overall per lead source

    A lot of the better CRM providers have reports that calculate this for you. The tough part is getting your sales team to source each customer.
     
  4. Stefan

    Stefan
    Expand Collapse
    Jr. Refresher

    First Name:
    Stefan
    Dealer or Company Name:
    Dolan Auto Group
    Twitter Handle:
    stefanprecup
    Joined:
    Apr 15, 2009
    Messages:
    208
    Likes Received:
    86
    Location:
    Reno NV
    Thanks Jerry,

    My bad... The question should of been :" What "SOURCES" should an "Internet ROI Report" take in consideration?"
     
    Collapse Signature Expand Signature
  5. jdavidson

    jdavidson
    Expand Collapse
    Getting Refreshed

    First Name:
    Joel
    Dealer or Company Name:
    Barkley Buick GMC Truck Cadillac, Inc.
    Joined:
    Sep 1, 2009
    Messages:
    32
    Likes Received:
    4

    Now that we have established what shoud be tracked...what are some standards that should be met by each?
     
  6. Jerry Thibeau

    Jerry Thibeau
    Expand Collapse
    Sr. Refresher

    First Name:
    Jerry
    Dealer or Company Name:
    Phone Ninjas
    Twitter Handle:
    thephoneninja
    Joined:
    Apr 28, 2009
    Messages:
    1,147
    Likes Received:
    329
    Well it's either red or black. Red obviously gets my attention. Is it just a crappy lead source or is the process broken. I get calls all the time from lead providers telling me they feed leads to dealers only to hear them seriously botch the lead on the recorded phone call. Then it becomes a training issue. You can spend all the money in the world on advertising, but if your process is broken it's like fishing with a net that has a bunch of big holes. Sure you're going to catch a few, but a lot are going to get away. I mystery shopped a local HUGE Hyundai dealer known for spending lots of money on advertising and the results were pathetic. Talk about wasting advertising dollars.

    Just because a lead source is in the black does not mean it's a good one. How much money are you really making when you factor in all your cost associated with the sale? Most dealers just look at how much they spent on the source versus the commissionable revenue. If you spent 5K on an add source and only made 5.1K in return, you probably lost money since you're not factoring in the 1-2K in paid commissions.

    Different lead sources have different appointment and close ratios. I would certainly expect different numbers if I were comparing a mail campaign to AutoTrader or Cars.com

    I would like to see a CRM company generate a report based on data from all their clients and provide a master report with average close ratios on some of the nationally recognized lead providers. How about it CRM vendors, is this something you could make happen? Measuring lead providers would help hold them accountable and obviously lead them to providing a better product. When you measure something the bar tends to get raised since nobody wants to be on the bottom.

    :2cents:
     
  7. Stefan

    Stefan
    Expand Collapse
    Jr. Refresher

    First Name:
    Stefan
    Dealer or Company Name:
    Dolan Auto Group
    Twitter Handle:
    stefanprecup
    Joined:
    Apr 15, 2009
    Messages:
    208
    Likes Received:
    86
    Location:
    Reno NV
    BUMP
     
    Collapse Signature Expand Signature
  8. Alex Snyder

    Alex Snyder
    Expand Collapse
    President Skroob

    First Name:
    Alex
    Dealer or Company Name:
    DealerRefresh
    Twitter Handle:
    axsnyder
    Joined:
    May 1, 2006
    Messages:
    2,417
    Likes Received:
    738
    Location:
    Vermont
    :bump: It Tuesday. @Stefan@Stefan ....still searching for the answer :itsok:
     
    • Like Like x 1

Share This Page

This forum sponsored by...