The Weakest Link
The path leading from ‘searching for a vehicle’ to ‘purchasing a vehicle’ involves many information transactions. The buyer often starts by searching online, looks at vehicle detail pages, initiates contact with some sellers (by phone or email), corresponds a few times to narrow down the field, schedules appointments with some subset of the sellers with whom they corresponded, and finally purchases one of the vehicles.
Links in the chain
From an industry standpoint, the path that follows is like a chain: The generator, the lead itself, the dealership, and the staff member working the lead are all links in that chain. There are strong and weak lead providers who produce strong and weak leads; there are strong and weak dealerships that employ strong and weak staff. By the time leads have run the gauntlet of links from lead generation to vehicle purchase, they have had several opportunities to hit a weak link. As long as the links in the chain stay strong, the lead progresses toward a sale; as soon as there is a bad link, the lead is most likely dead. If it goes really poorly with the staff member link, you not only lose this sale but probably also lose the opportunity for service business or future vehicle sales with this lead. The point is that the chain is only as strong as the weakest link and your success with each lead hinges on having a strong chain.
As a dealer, you have little control over how a lead is generated; however, you do have some control over how your existing and potential customers are treated by your staff, which determines, in the minds of consumers, whether or not you are a good or bad dealership. You also have control over the staff you employ and their training. This is link in the chain that you must focus on, if you want to get more out of your leads.
The salespeople working the leads have made no investment and are therefore less inclined to really work every lead. Often, the staff will take only a single pass or not work leads at all and just blame the lack of success on lead quality. I suggest a new model for your consideration: Let your staff invest in the leads! Have them buy the leads themselves or share in the cost with you and provide a performance-based way for them to earn their investment back. If your staff is invested in the leads they work, they will be much more likely to work those leads until they buy or die, which will produce an immediate, profound change in your lead closing ratio.
Keep making sales
Yes, sales are down, way down. However, people are still searching for cars, buying cars, and selling cars. Traffic, searches, and private party listings have held relatively steady throughout the economic downturn. Of course, there wass a slight drop in all three areas, it was not nearly proportional to the drop in sales at dealerships. Sales are out there but in the current economic climate staff must work harder to get them: Don’t let a staff member be the weakest link in your chain.
NOTE: POWERHOUSE USA HELPS CLIENTS GENERATE QUALIFIED LEADS THROUGH VARIOUS SOURCES INCLUDING THE INTERNET. BY USING DEALER WEBSITES, THIRD PARTY WEBSITES, CUSTOM LANDING PAGES, MICROSITES, GOOGLE ADWORDS, YAHOO!, MICROSOFT BING!,VARIOUS OTHER SEARCH ENGINES, SEARCH ENGINE MARKETING, SEARCH ENGINE OPTIMIZATION, VIDEO ADS, TEXT ADS, YOU TUBE AND THE LIKE. POWERHOUSE USA IS A FULL SERVICE MARKETING ADVERTISING, PROMOTIONS, SPECIAL EVENTS AND INTERNET ADVERTISING COMPANY LOCATED IN ORLANDO, FLORIDA THAT PROVIDES CREATIVE BUSINESS SOLUTIONS TO COMPANIES OF ALL TYPES. FOR MORE INFORMATION VISIT WWW.POWERHOUSEUS.COM