For me it comes more efficiency in advertising spend - at a cost per retailed unit. IMO - Target should be $250 per, with a $350 max -- (pre co-op credits)
As mention above - increasing lead count is easy ... focus on quality. I also believe that if you are focusing on just "leads", I think you are missing the boat. Focus on consumer experience that drives people through your front door. That can be after they submit a lead/call, but what if they don't? Could a consumer get the information they need without contacting you prior to coming in?
I have a dealer group in a tech heavy area where an average of only 40% of the people contact the store before coming in (lead or phone call). That means over half of the people just come in to buy a vehicle, without first contacting the store!
100%!
Car buyers want to remain anonymous, shop on their own terms and when they want information, they want unfettered instant access to everything they need to make a purchasing decision. Your 40% observation is probably on the high side given that 8 or 9 out of 10 people who come to the lot to shop vehicles give the standard "just looking" reply to your sales team when approached. Remember, they WANT to be there... they just dont want to talk to you ... YET.
If they need help, they'll ask. (sometimes).
If someone comes to your store to see the vehicle, and you make a connection, that connection is worth 40 web leads. (or more).
Be open, transparent and welcoming to them - as you said, focus on the experience that "drives them to the front door."
I see dealers who continue to spend $$$$$ on advertising yet have poor inventory levels on their lot. You can sit out and literally watch traffic slow down - look a the lot, and when they see poor selection, they drive on. Having inventory and retailing it well is a key factor in converting foot traffic to actual ON SITE shopping traffic.
Of course, when they get on the lot, they're probably still anonymous so now its 1) sales staff job to "land" the lead or 2) use technology to land the lead while giving them the best shopping experience possible. (disclosure - thats what I do. Dealership engagement).
Give in-market buyers a reason to visit your dealership. Give them a reason to check out your inventory or store. Perhaps it's because you'll give them best $$ on their trade in. Perhaps it's a guarantee. Perhaps its overall pricing or perhaps its simply transparency and honesty.
Quality crushes quantity every day of the week. Audit your marketing - I bet you'll learn a lot.
It's a bummer to see dealers paying good money for bad leads.