Dealer converts 56 ‘Lost Sale’ enquiries to ‘Sold’
We are pleased to provide an eCRM service to 31 Mercedes-Benz dealerships, and ‘Lost Sales’ forms an integral part of their new and used cars sales strategy.
Since the start of our service in Dec 2015, three Mercedes-Benz dealerships in one of the groups using our service have recorded 325 cars sold after receipt of our 14-day message and a further 56 cars sold in response to the Lost Sales message.
And in the past 6-months alone, these two messages have resulted in 91-sales, providing a quite significant business contribution in terms of ROI.
When you consider the results of a recent Lost Sales survey undertaken by one of our Volkswagen dealer groups, it really comes as no surprise that customer enquiries closed-off as a Lost Sale are such a valuable source of business.
In this survey (that was embedded into the Lost Sales follow-up message) a staggering 53% of recipients opened the message – which in itself gives a clue to their true status in terms of being ‘in market’ or not. And out of all those that replied, 45% said that they were “Still looking to purchase!”
Not only were they still in market, 56% of those that replied stated that they were “Not an existing customer!”
So here we have conclusive proof that sales leads ‘discarded’ as Lost Sales are a potential goldmine in terms of increased new and used car sales.
Lost Sales as part of a customer contact strategy
Although every dealer group that we work with has their own unique customer contact strategy, we strongly recommend that they look to incorporate the following key steps as part of their sales follow-up process:
- Every single sales enquiry is professionally followed-up with mobile friendly interactive messages after 24hrs, 72hrs and 14-days, keeping customers actively engaged (message open rates of 60-70% are 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
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.