How many sales opportunities are your sales team losing out on through ‘failure to contact’?
This may come as a bit of a surprise, but upon examination of a sample of 63,000 logged sales enquiries in Q4 last year, we found that 64% were ultimately categorised as ‘lost’!
Seeing as today’s car buyers undertake detailed research online, before they as ‘qualified prospects’, make a web, telephone or walk-in enquiry to a dealership – how is it that almost two-thirds of these enquiries end-up being relegated to the status of ‘Lost Sales’?
The Sales eCRM processes employed in our clients’ dealerships supports the traditional follow up process, providing a safety net for any “forgotten” opportunities, difficult to contact customers, absences or any of the other multitude of reasons a prospect may not be followed up.
We were recently asked by clients to come up with a way of re-engaging with “lost” customers. The first thing we asked was “what’s a lost customer” – the answers were:
- A customer who has made an enquiry with a dealership but hasn’t gone on to order a car after a certain amount of time
- A customer who has searched for a used car on the dealer website but can’t find a suitable match
Franchise dealerships are a great model for the consumer – identikit buildings with staff conforming to the latest manufacturer sponsored “CSI” process or system requirements. It’s a great way of ensuring a relatively high level of basic service, comparable to neighbouring dealerships, whatever the marque.
So how does a business differentiate itself from the others?
There is lots of talk at the moment about big data and how to use it to deliver the right, personalised, relevant, responsive messages to customers at the right time, using the right media.
The good news for car dealers is that big data is nothing new and is sitting there on DMS, showroom and aftersales systems already.
The tricky bit is using that data to deliver the right messages at the right time, producing a relevant, engaging CRM cycle.