At a Glance
For those too busy to read the whole article, we’ve created the “At a Glance” section with hyperlinks so you can skim the important points and get deeper insight by easily visiting the section that interests you
The quality of leads coming into your dealership may not be the entire culprit. There are 4 factors that can transform a low-quality lead into a conversion.
Leaving your prospects unread for more than 5 minutes reduces your ability to act on prospects when they are at their peak interest.
Not following up with a prospect can be a result of a lack of a proper sales plan being executed. Time, resources, and lack of understanding all place restraints on a dealership’s ability to implement a fully rounded plan, which can cause a gap in your lead generation initiatives.
Pushy sales staff can deter interested buyers. Being approachable and willing to educate prospects can go along way.
- Having an online presence enables you to connect with the customers that matter through authenticity and transparency.
Low-quality leads. It’s every dealership’s constant battle, to harvest new ways to draw in high-quality leads that result in sales. In a consumer report from Soma Metrics, low-quality leads can cost businesses $100 per interaction.
What if it isn’t the quality of the lead at all? Rather, it’s more about how well your dealership can nurture incoming leads. So if you’re getting more low-quality leads than good ones, we’ve got some tips on how to fine-tune your sales strategy to boost conversions.
But first, we have to answer the most important question of all – why do prospects leave?
You Took Too Long To Respond
If it took someone two days to respond to you, would you assume they aren’t interested? Many people would, and that’s why it’s so shocking that the average response time for dealerships is 47 hours!
In an age where immediate and constant validation is needed, leaving prospects unread for more than 5 minutes means you could lose the opportunity for a meaningful conversation that leads to a sale.
Using online platforms makes it easier than ever for customers to connect with your dealership, but if you’re not responding quickly, what’s the point? A slow response time runs the risk of losing potential customers while creating a negative first impression of your brand and business.
You Failed to Follow Up with the Prospect
Roughly 48% of dealerships admit they don’t execute a single follow-up attempt. Time, resources, and lack of understanding all place restraints on a dealership’s ability to implement a fully rounded plan, which can cause a gap in your lead generation initiatives.
Without a process in place, prospects can become lost and forgotten. Regular and routine follow-up is crucial in understanding the issues and needs of your customers.
Plus, if you don’t follow up on your prospects , you’re missing out on a huge opportunity because it’s so much easier to convert those who’ve already expressed interest. Sometimes all it takes is a simple re-engagement campaign to remind those prospects you’re still here and ready to help.
You Were Too Pushy
Another big reason why customers chose not to buy a car was due to the pushiness of the sales staff. It’s a classic stereotype for car salespeople and customers know they have so many other options for buying a car that they can just leave if they don’t like it.
So leave the high pressure sales tactics at the door and take the time to find out what your prospects are looking for and help match them up with the perfect vehicle. The best way to stand out isn’t through technology or your inventory because at the end of the day, it’s all about customer service.
You're Not Online
It’s also important to consider your online presence and what it tells customers. If your website hasn’t been updated in years, it suggests the dealership might not be the most tech savvy. If the website is nonexistent, people might be wondering if it’s a scam.
Social media can go a long way in helping your dealership build trust with customers, and your website should reinforce that by linking to your social accounts. Customers appreciate it too because it makes it easier for them to learn more about your dealership while also making you look more authentic and transparent.
Social media and ecommerce have revolutionized buying and selling cars online. Despite what you might have heard, Facebook still reigns supreme with more Canadians on it than any other social media site, and that’s why you should still be posting your inventory on Marketplace.
For many buyers, if you’re not online, it’s as if you don’t exist and customers don’t even get a chance to leave because they were never there in the first place.
For more information on how DrivingIt can ensure you never make any of these mistakes again, please reach out.