Are you planning for Maximizing Profits for 2015?
In the past 30 days, I have attended an Internet Conference in Las Vegas, viewed eight webinars and read in excess of 30 articles on “new and improved ideas”, techniques and products; all related to what’s working BEST with the Internet TODAY.
What is my conclusion? Everything is working, yet nothing is working. So, not to worry you – I do HAVE THE ANSWER.
First, let’s look at some of the latest statistics:
Here are some statistics you have probably heard just to confirm:
* 90% of the people shopping for automobiles are at one time going online and viewing things via the internet.
* Phone-ups currently are 4-1 over lead submission.
* The average person is visiting approximately 1.5 dealerships.
Now, here are some stats you probably did not know!
DAYS TO SOLD
Day 1 – 14%
Day 2 – 18%
Day 3 – 12%
Day 4 – 6%
Day 5 – 4%
Days 6/10 – 14%
Days 10/30 – 19%
Days 30+ – 12%
Since I started specializing with the Internet, I have been teaching the importance of having a “long-term” schedule to identify and engage potential clients and I am still an advocate of that; however, I am changing my emphasis to the first 5-days, with an accelerated push at that time and then automating things, with just a couple of calls. Let’s consider the logic.
DAYS TO CONTACT
Day 1 – 67% 99% of Sold’s were contacted within the first 5 days
Day 2 – 19%
Day 3 – 8%
Day 4 – 2%
Day 5 – 1.5%
Day 6 – .5%
Then, the next question to come up should be what method is being used to ENGAGE there people? 72% of the people were contacted by phone and 28% were engaged via email. This tells me that strong emphasis needs to be placed in order to get the right person to speak with you on the phone. Question: “Does your first email response ask to have a telephone conversation for additional details? It should – even if the prospect did not provide a number, ask them to take the time to call – you will both be better satisfied!
So, considering the statistics and remembering that I told you I had the answer….. so here it is. THE ROAD TO THE SALE today, whether you want to admit it or not, starts online! How much time does your sales manager spend with your BDC, Internet Sales People, whomever you have responding to these opportunities? I was taught that the best management style in a dealership is performing “one-on-ones” daily with the salespeople, I still believe that, but if your main sales manager is not performing “one-on-ones” daily with your people responding to your Internet leads everyday you are missing opportunities. They should be making certain that multiple calls are being daily in the first five days in an endeavor to contact new leads Additionally, there should be at least four hours between attempts. Are they viewing the emails being sent? Are they discussing the messages being left? Are they monitoring how many out-going dials are being made everyday? If you are not doing these things daily, you are probably not selling 11% of the overall leads you get.
54% WILL PURCHASE WITHIN THE 1ST 5 DAYS
33% WILL PURCHASE BETWEEN DAYS 6 – 30
12% WILL PURCHASE 30+ DAYS
As a closing note…. I speak with dealers and managers who tell how expensive it is to bring someone in to train, help set these processes in place and setup schedules to follow and my question back is always: “How expensive is it NOT TO ENLIST THE ASSISTANCE OF AN INTERNET PROCESS SPECIALIST AND HOW MUCH NET PROFIT ARE YOU ALLOWING YOUR COMPETITORS TAKE AWAY FROM YOU WHO HAVE THE PROPER PROCESSES, PROCEDURES AND PHONE TECHNIQUES TO PROPERLY HANDLE TODAY’S CUSTOMER?”
Here are instructions for doing One on Ones