In a recent analysis of over 2,000 showroom sales enquiries, we identified that top performing dealerships achieved an average sales conversion rate of 31.3% – significantly outperforming the industry average of one-in-four.
And from our lead tracking analysis we could also see that 80% to 85% of all incoming enquiries were closed within the first 4-days of their showroom visit.
So what happens to those ‘hot leads’ that are not converted in this initial 4-day window and how can you maximise ‘Lost Sale’ opportunities?
The major reason behind ‘Lost Sales’
With an average of 3-5 new incoming sales leads per week, it doesn’t take a genius to work out that hard-pressed dealership sales staff can only manage a pipeline of so many leads, before last week’s unconverted prospects fall away – and are left without any meaningful follow-up!
And this is precisely the area where these ‘high conversion’ dealerships maximise their chances of converting every possible sales opportunity, by taking the following actions:
- Every single sales enquiry is professionally followed-up with mobile friendly interactive messages after 24hrs, 72hrs and 14-days, that keeps the customer actively engaged (open rates of 60-70% not uncommon)
- After 14-days, any enquiry that hasn’t progressed to a sale is auto-enrolled to a ‘Car Alerts’ service that updates the customer every time new stock arrives that matches their initial enquiry
- Finally, every enquiry that’s been closed-off as a ‘Lost Sale’ triggers a customised message that opens the door to potential re-engagement, with a surprising number converting back into a ‘new’ enquiry and subsequent sale (in a recent campaign, 46% of ‘Lost Sale’ enquirers replied that they were still in the market for a car!)
If you’d like to see how our ‘Car Alerts’ and ‘Lost Sales’ service can help your dealership or group increase sales conversions, please complete the boxes below and we will be in touch.