Looking for other BDC Managers' input on this one. I seem to be struggling to contact a lot of the inquiries I'm getting. Specifically Tier 1 leads from the Manufacturer's websites. I run a GM BDC with Chevy Buick and GMC. Just wondering if someone else has had this experience and was able to turn it around. Thanks guys!
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as a follow-up: my sales staff had to do this every month (to verify they had done so I required a work sheet.) Sales Management participation is pricing is an essential component to conversion percentage, and secondly, as soon as you get an individual on the phone try to transfer them to a sales manager for the most profitable and highest percentage conversion. This will also let them know how hard your job is and may give them an appreciation for your efforts. Jay
I have been fortunate to work in several metro markets and had the benefit of failing miserably and learning from it...here is what I finally came up with (and follwoed and implemented this contact schedule without exception and have had an average conversion of 22-24%, as high as 28%) per 100 fresh leads. All of our queries were responded with immediately not with an auto responder (this is of course during working hours) but first with a text message, then a call (both if numbers are offered) and then an email. Text messages have the highest connection percentage (almost 100%) and we tracked a 67% reply in the first 24 hours. Many CRMs now offer this feature but if this is not available in yours then have your staff incorporate it in another manner (there are many low-cost programs available.) In the larger lines it is essential to make the first contact as you will have the highest percentage of closing that lead. Secondly, and every dealer hates this, but you must send pricing out if no reply to the lead occurs within the first 2-3 hours. Likewise indicate pricing is in the email by saying so in the subject line (this will increase the open %) and hopefully your CRM tracks opened emails. Though Tony makes a valid point in his email re offering an inducement to buy at his store, there are many more GM stores than Nissan and it is a hugely competitive market. Domestic marketing is more price and inventory driven than Asian brands who routinely offer less incentives to purchase. (I recently was an Internet Director and Sales Manager at a large Honda store.) Know your competitors pricing and contact strategies (by shopping them routinely) and be better than them in every avenue. Always honor your pricing, know your incentives and inventory, when possible verify all of the following components of the sale: financing, trade. payoff, etc. and assist the sales staff in building a deal back up in the negotiation. There are no sales without a customer and no customer (from the Internet) will generally patron a store that does not at least reach out to them to demonstrate their interest. Good Luck! I required all of my staff to visit and work through two pencils at any store to teach them empathy, review the skills of our competitors and keep them sharp. Selling is a skill that must continually be developed to stay on the top of the production scale. Jay
I also run the BDC for a Nissan dealership. Here recently in my email's I have been adding a bonus at the end " Print this email off bring it in and you have the chance to win Free oil change, Free car detail, or even a chance at $500 off your purchase on a new car." I have went from selling 22.3% leads to 27.6% not a huge difference, but every little bit will help at this point.