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Your Road to the Sale is BrokenJoe Webb and Mark Stringfellow
Joe Webb | DealerKnows Consulting | President | [email protected]
v
v
Mark Stringfellow | The Next Up | Vice President | [email protected]
Twitter: #DD18 #RoadRage
Your Road to the Sale is Broken!
Digital Dealer 18: Presentation
Who is Joe Webb?
Twitter: @zonewebbRoad to the Sale: DealerKnows
Who is Mark Stringfellow?
Twitter: @mjstringfellowRoad to the Sale: The Next Up
A couple quick questions.
Road to the Sale: Audience
Phase shifting.
Road to the Sale: Consumer Journey
Online research.
Automotive Shopping
SUV Luxury SedanOnline
In-store
Road to the Sale: Consumer Journey
Observational.
Road to the Sale: Website
Is your website broken?
Road to the Sale: Website
Be a library… and a vault.
\Road to the Sale: Website
VDP to Form Field Submission.
Road to the Sale: Website
Be who you are and not who you want to be.
Road to the Sale: Website
Road to the Sale Online Process
1.Meet and greet 2.Needs analysis 3.Selecting the vehicle 4.Product presentation 5.Trade-In evaluation 6.Credit Approval 7.Ask for the business 8.Present the figures 9.Negotiation 10.Make the Sale 11.Delivery
1.Meet and greet 2.Needs analysis 3.Selecting the vehicle 4.Product presentation 5.Trade-In evaluation 6.Online Credit App 7.View transparent pricing 8.Ask for the appointment 9.Make the appointment 10.Confirm the appointment
What’s your road?
Road to the Sale: Showroom
Create a fake, but believable, email address
Make up a fake, but believable, name
Mystery Shop your store
Do it TODAY
1task
Road to the Sale: Lead Management
Mystery shop.
What to look for.
1. Timing2. Content3. Value4. Engagement5. Effort6. Results
Road to the Sale: Lead Management
Timing
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
Was their email response back to the customer within 1 hour during normal business hours? Did the ISM call the customer within 1 hour?
Time Phone Email
Within 1 Hour: Within 1-4 Hours:
Over 4 Hours: Not at All:
68.34% 15.39%
9.76%6.49%
83.85% 9.05% 3.55% 3.53%
Timing:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Content
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
Did the ISM send out a Manual/Personal Response template?
Is there a personal value-proposition template being sent/firing?
18% didn’t bother sending a personal response. 39% didn’t feel it was important enough to send a personal value proposition email.
Content:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
•Why Buy from Me/Us•Trade Evaluation•Manager Surveys•eBrochures•Get Approved•Special Incentive Changes•Customer Testimonials•Video from ISM•Email/Video from GM•Third-Party Recommendations or Awards
•Pictures/Video/eBrochure of Vehicle of Interest
Build valuable email templates.
Road to the Sale: Lead Management
Value
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
Did the ISM include multiple price quote options on new?
Did the ISM confirm a price on the used vehicle?
11.25% only sent one price on a new vehicle. 21.14% sent nothing.30.20% didn’t confirm price on a used vehicle(!).
Value:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Engagement
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
•Still Interested?
•Have you bought yet?
•Still in the market?
•Haven’t heard from youin 2 weeks...
Same ole’, same ole’...
Road to the Sale: Lead Management
Create an auto-responder that works.
•Elicit Contact •Build ValueIf����������� ������������������ they����������� ������������������ don’t����������� ������������������ TURN����������� ������������������ THEM����������� ������������������ OFF!
Extra Credit!©2015 DealerKnows, LLC. All Rights Reserved
Road to the Sale: Lead Management
task
2
Did the customer respond back to the auto-responder?
Was the first manual email sent prior to the first outbound call?
91.85% didn’t respond to the auto-responder. 14.27% called the customer first, ignoring the customer’s preferred method of contact.
Engagement:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Auto-responder performance:
©2015 DealerKnows, LLC. All Rights Reserved
0%
5%
10%
15%
20%
Ours Dealer/OEM/CRM
*Based on over 12,000 leads
Road to the Sale: Lead Management
Email the customer basic information before you call them to show you’re listening.
Pay attention.
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
task
3
If the customer asked a specific question, did the ISM answer it in the email?
Did the ISM ask questions via email (in an attempt to open dialogue)?
7.23% ignored customer questions.15.06% of the emails were monologues.
Engagement:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Effort
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
Effort:
If the ISM didn't reach the customer during their first phone try, was a second call attempted on Day 1?
62.48% were content with just making one phone call.
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Keep up or shut up.
Road to the Sale: Showroom
Average Internet Lead Handler
Graded:
4 Calls Over 9 Days
Results
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
Was there an appointment set on the phone or through email?
If appointment was set, was there an appointment confirmation email or call?
90.16% of the leads had no set appointment in the CRM. 35.78% of the appointments did not receive a confirmation call or email.
Results:
Answers:
Question(s):
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
Road to the Sale: Lead Management
Require your salespeople to keep track of how many customers are in front of them every day, and how many appointments they’re setting for themselves.
©2013 DealerKnows, LLC. All Rights Reserved
Charting success.
©2015 DealerKnows, LLC. All Rights ReservedRoad to the Sale: Lead Management
4task
How are the dealers trending?
DealerKnows: Results
Grades
9/24/11 11/25/12 1/27/14 4/1/15
A
B
C
D
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
How are the dealers trending?
DealerKnows: Results©2015 DealerKnows, LLC. All Rights Reserved
Email Time
Not at All
Over 4 Hours
1-4 Hours
1 Hour or Less
9/24/11 11/25/12 1/27/14 4/1/15
*Based on over 12,000 leads
How are the dealers trending?
DealerKnows: Results
Call Time
10/20/11 3/10/12 7/29/12 12/17/12
Not at All
Over 4 Hours
1-4 Hours
1 Hour or Less
©2015 DealerKnows, LLC. All Rights Reserved
*Based on over 12,000 leads
0.00%
20.00%
40.00%
60.00%
80.00%
5/14 10/14 11/14 12/14 1/15 2/15 3/15
DealerKnows: Results©2013 DealerKnows, LLC. All Rights Reserved
Appointments Shown
A
B
C
D
Appointments Set
Road to the Sale: What to look for
•Source •Customer data •Auto-response •Speed of first manual response
•Email content quality •Consistency of phone calls •Ongoing email follow-up •Multiple contact mediums •Engagement from replies •Was contact made •Results of contact •Research/Purchase lifecycle •Scheduled tasks
Look Closely.
Road to the Sale: Lead Management
MonthFeb 15
TaskTeacher: Report Card
Total Grades
11
Team Chevy
Example Average
A
Dealership
Timing
First Email Response Time
100%Within 1 hour
0%1-4 hours
0%Over 4 hours
0%Not at all
100%First Email Prior to First Call
First Call Response Time
100%Within 1 hour
0%1-4 hours
0%Over 4 hours
0%Not at all
Content
100%First Manual Response was Personalized
ISM Included Multiple Prices on New
100%Yes0%
Just One
0%No Prices Given
100%ISM Confirmed Used Price
Value
100%ISM Asked Engaging Questions Via Email
9%Value Proposition Shared
Engagement100%
ISM Answered Specific Question
82%ISM Spoke to Customer on Phone
Effort
71%Second Call Attempted on Day 1
100%Call Attempted in last 3 days
7Average Calls Logged
11 Days
Results
36%Appointment Set
100%If Appointment, Confirmation Performed
Performance breeds profit.
The “Road to the Sale” is dead.
Road to the Sale: Showroom
Why make the drive?
Road to the Sale: Showroom
Be a bridge.
Road to the Sale: Showroom
Road to the Sale Online Process
1.Meet and greet 2.Needs analysis 3.Selecting the vehicle 4.Product presentation 5.Trade-In evaluation 6.Credit Approval 7.Ask for the business 8.Present the figures 9.Negotiation 10.Make the Sale 11.Delivery
1.Meet and greet 2.Needs analysis 3.Selecting the vehicle 4.Product presentation 5.Trade-In evaluation 6.Online Credit App 7.View transparent pricing 8.Ask for the appointment 9.Make the appointment 10.Confirm the appointment
What’s your road?
Road to the Sale: Showroom
The calisthenics of a car sale.
Road to the Sale: The Process
Meet and Greet.
Road to the Sale: Showroom
50% of Walk-Ins Are Not Logged.
If you have one, use it.
Road to the Sale: CRMs
Needs assessment inside the Meet and Greet.
Road to the Sale: Showroom
• Have you had the opportunity to speak to anyone here before stopping in today?
• Have you had the chance to drive the [MODEL] in advance of coming in?
• What were you looking to accomplish during your visit?
• Have you had the chance to research this vehicle online, and, if so, which sites in particular?
• What first made this vehicle one to consider?
What type of up do you get?
Road to the Sale: Showroom
Fresh Guest vs. Appointments
How many customers are coming into your Dealership?
What’s your Appointment to Walk-in Ratio?
What type of up do you get?
Road to the Sale: Showroom
Based on 450 dealerships, the average appointment vs. fresh guest was 27%
What to look for.
1. Aim for an Appointment2. Test Drive3. Manager Introduction4. Write-up
Road to the Sale: Lead Management
The value of an appointment.
Road to the Sale: Showroom
Appointment Closed at 47%
Test DriveWrite UpManager Intro
71% 64% 66% 45% 24% 52%
Up time vs Down time.
Road to the Sale: Showroom
Fresh Guest: 1:10
Appointment: 2:30
Down Time: 5½ Hours
Keep up or shut up.
Road to the Sale: Showroom
26 Websites+
14 Hours÷
5.5 Hours of Daily Down Time=
No Excuses
The ups you get vs. the ups you want.
Road to the Sale: Showroom
What falls into your lap? (2 Ups x 20 Days) x 20% Close = 8 Deals
How to make your days better ((4 Appts x 20 Days) x 50% Show) x 50% Close = 20 Deals
The value of a test drive.
Road to the Sale: Showroom
TEST DRIVE CONVERSION
Closing %Test Drive No Test Drive
Appointment
14% 29% 1% 47% 58% 8%
What is the perfect test drive?
Road to the Sale: Showroom
Early manager introduction is essential.
Road to the Sale: Showroom
Manager Introduction happens on average 53% of the time.
Closing %Manager Intro
14% 24% 47% 66%
A little game of Sit, Stand, Lean.
Road to the Sale: Improv
Managerial impact on a write up.
Road to the Sale: Showroom
Managerial impact on a sale.
21%
30%
50%
57%
Write Up
TD/Manager
Manager Intro
Test Drive
Fresh Walk-in
60%
71%
84%
93%
Appointment
Road to the Sale: Showroom
Roads? Where we’re going, we don’t need roads.
DealerKnows: Road to Loyalty ©2015 DealerKnows, LLC. All Rights Reserved
Process perfected.
Road to the Sale: Fin
Joe and Mark.
Contact Info
Full Name:
Company:
Job Title :
Email:
Joe Well
DealerKnows Consulting
President
Share an important takeaway you received from this sessionusing hashtag #DD18 for a chance to win an iPad.
Mark Stringfellow
The Next Up
Vice President