Close Automotive Internet Sales Leads with 1-2 Punch

““Action Chain” Action Chain” of Processof Process

LeadLeadManagementManagement

Processes become Processes become effective when each linkeffective when each link

in the chain of action items is in the chain of action items is executed at the right time, executed at the right time,

in the right mannerin the right manner

A T T R A C T • I N T E R A C T • R E S P O N D • S E L L• R E S P O N D • S E L L • S E R V I C E • R E T A I N

© 2003. Reynolds Consulting Services - All Rights Reserved11/2/2003 1:39 PM

Close more Internet Leads with the “One-Two Punch” of an Email with price quotes on 4 available

vehicles, followed by a phone call designed to get the appointment

…Focus on what you have available to sell and NOT on the specific vehicle specifications that the customer has enquired about, that you may, or may not, have immediately available

(Similar, Similar, Less/Same/More Value)



From: Charissa Cook (Be sure to ask for me, so you get the e-Price) at Findlay Honda Toll Free: 888-333-1661 (ask for Charissa Cook in the Customer Care Center)

Thank you for your inquiry on the 2004 Honda Accord... Below you will find information and price quotes on the car we have available which comes closest to what you specified. Further down, I have provided price quotes on several other vehicles that we have available, for your consideration.

Year Make Model Color Stock # MSRP *e-Price

2004 Honda Accord EX Saturn Silver H32136 $23,990 *$22,572Listed below are several more, similar to what you requested:

Year Make Model Color Stock # MSRP *e-Price2004 Honda Accord EX Desert Mist H40610 $22,190 *$21,3232004 Honda Accord LX Nighthawk Black H40547 $19,790 *$18,9232004 Honda Accord DX Taffeta White H40006 $17,160 *$16,723

*Your Findlay Honda e-Price is valid through our Customer Care Center and can be verified by Brett Schira at 419-422-1661. The Findlay Honda e-Price is BEFORE incentives... We will review any current incentives with you during our initial telephone contact.

In order to verify that you have received this message, and because the information in this email is important and time sensitive, I will be calling you to verify that you've received ALL THE INFORMATION YOU NEED and answer your questions on a direct and personal basis.

http://www.jaywolfehonda.com/






Year Make Model Stock # MSRP *e-Price Lease (36)* Buy (60)*

2004 Honda Accord EX H32136 $23,990 *$22,572 $299 *$479Listed below are several more, similar to what you requested:

Year Make Model Stock # MSRP *e-Price Lease (36)* Buy (60)*

2004 Honda Accord EX H40610 $22,190 *$21,323 $259 *$4292004 Honda Accord LX H40547 $19,790 *$18,923 $239 *$3792004 Honda Accord DX H40006 $17,160 *$16,723 $199 *$339

From: Charissa Cook (Be sure to ask for me, so you get the e-Price) at Findlay Honda Toll Free: 888-333-1661 (ask for Charissa Cook in the Customer Care Center)

Thank you for your inquiry on the 2004 Honda Accord... Below you will find information and price quotes on the car we have available which comes closest to what you specified. Further down, I have provided price quotes on several other vehicles that we have available, for your consideration.

*Your Findlay Honda e-Price is valid through our Customer Care Center and can be verified by Brett Schira at 419-422-1661. The Findlay Honda e-Price is BEFORE incentives... We will review any current incentives with you during our initial telephone contact.

In order to verify that you have received this message, and because the information in this email is important and time sensitive, I will be calling you to verify that you've received ALL THE INFORMATION YOU NEED and answer your questions on a direct and personal basis.







The most successful The most successful eBusiness Dealers eBusiness Dealers focus on scheduling an focus on scheduling an appointment by using a appointment by using a form that has a dual form that has a dual purpose of purpose of “Information “Information Gathering Tool”Gathering Tool” and and suggested Phone Script suggested Phone Script during each call… during each call…

Let’s take a closer look at Let’s take a closer look at this tool and how it is used this tool and how it is used by dealers...by dealers...

Phone Follow-up AnalysisPhone Follow-up Analysis

Call MadeCall MadeWithinWithin1 Hour1 Hour

(secret sauce)(secret sauce)



(Part 1)(Part 1) Internet Customer Call AFTER Price Quotes Sent by Email Internet Customer Call AFTER Price Quotes Sent by Email

Hello, this is _______ with the CRC at ABC Motors, May I speak with_____________?

Hi __________, earlier today (yesterday?) we sent you an email message with information and price quotes. Have you been able to take a look at it?

IF YES: Great! So that you get all the benefits offered by ABC’s Internet program, I’d like to discuss how it works with you… Would that be OK?

IF YES: Have you ever bought a vehicle using the Internet before?

IF NO: No problem, Let me explain how our Internet process helps you get a better deal… There are Four easy and convenient steps: Step 1. Find a few vehicles that might be right for you Step 2. Provide you with prices & the information you need to make an informed decision Step 3. Schedule a convenient time to come in, look at the vehicles and take a test drive Step 4. You bypass the traditional car sales process and buy your new vehicle in less than half the time it usually takes… At the lowest prices, without any hassles or aggravation

IF NO: That’s OK… When would be a better time to speak with you about the information we sent? What number should I call? ________________ Do you have an email that you can access right now, so I can send you price quotes? Customer’s #2 Email:______________________

If Yes: Great! Tell me, how did it go?

If NO: When would be a better time for me to call?




So that I can make sure we sent you quotes on the right vehicles, I am going to ask you a few questions:

You indicated that you’re interested in a: _______________________________________(year/make/model)

What options or equipment are a “Must Have” for you?_________________________________________________________________________________________________________________________________________________________________________________If we had a similar vehicle to what you enquired about, with similar equipment, that was less expensive… would you want to know about it, or would you rather have us rule that out for you? (IE: Demo’s, factory program vehicles, cancelled orders, etc.) YES or NO




(Circle Answer) Are you ADDING or REPLACING a vehicle? What are you currently driving? Year:____ Make:__________ Model:____________ Miles:______KOptions/Equipment?______________________________________(Circle Answer) Would you like a Trade-In value estimate? YESYES or or NO NO So we can understand what’s important to you…Thinking about what you currently drive:What do you Like Best? ________________________________________________________________________________________________________________What would you Improve? ________________________________________________________________________________________________________________




Going back to the ______________ (model only) you expressed interest in… When was the last time you drove a (Year & Model)?____________

May I make a suggestion?_________(If Trade) So we can (give you as much possible for your trade in and…) give you an opportunity to test drive the (Year & Model)... we should make arrangements for you to come in:

……Would Today Tomorrow be Would Today Tomorrow be better?better?

Morning Evening?Morning Evening?

10:15 or 10:45? 6:15 or 6:45? 10:15 or 10:45? 6:15 or 6:45?

Great, we’ll see you on ________________ at:____________

OROR



(Part 5) (Part 5) Internet Customer Call AFTER Price Quotes Sent by Email Internet Customer Call AFTER Price Quotes Sent by Email

…AND, If anything changes on our end, I will contact you by email & phone to let you know… PLEASE do me a favor; if anything should change on your end that will effect you coming in… will you let me know?

When you arrive at the dealership, please take advantage of the Customer Parking in the front of our showroom and see our receptionist, who is located in the showroom entryway, right as you walk in the front. Please give her your name and let her know you have an appointment with Joe Dealermaker, our General Manager… She will have your name on her appointment calendar and Joe will be expecting you. We will have several vehicle pre-selected for your inspection and test drive.Please let me give you directions… Or, would you prefer that I send them to you by email?

(Give directions to dealership)

Response Time & ContentResponse Time & Content

How “What” you do, and How “What” you do, and “When” you do it, impacts your “When” you do it, impacts your

Lead Management Process resultsLead Management Process results

A: Increasing Closing Ratios is not A: Increasing Closing Ratios is not “Just About”“Just About” Response Times… Response Times…

Q: Why the variations?Q: Why the variations?



Impact of Dealer Response Attributes on Impact of Dealer Response Attributes on Customer SatisfactionCustomer Satisfaction::

Dealer Response Attribute Experienced by Customer within 24 hours* of Submitting Lead

Completely or Completely or Very Satisfied Very Satisfied who DID NOT who DID NOT

experience experience the attributethe attribute

Completely or Completely or Very Satisfied Very Satisfied

who DID who DID Experience the Experience the

attributeattribute

GAPGAP

Correlation Correlation Factor of Factor of

attribute with attribute with Customer Customer

SatisfactionSatisfaction

% of ALL % of ALL Respondents Respondents

who who DID DID ExperienceExperience the attributethe attribute

Dealer made Direct Phone Contact with Customer Dealer made Direct Phone Contact with Customer after sending Emailafter sending Email 58%58% 84%84% 26%26% 2929 59%59%

Dealer Acknowledged Customer Request Dealer Acknowledged Customer Request 51%51% 75%75% 24%24% 1212 94%94%

Dealer Showed Genuine Interest in Dealer Showed Genuine Interest in Customer’s Wants & NeedsCustomer’s Wants & Needs 13%13% 82%82% 69%69% 5353 87%87%

Dealer Responded using Customer’s Preferred Dealer Responded using Customer’s Preferred Communication MethodCommunication Method 39%39% 76%76% 37%37% 2121 93%93%

Customer Received Price Quotes Customer Received Price Quotes from Dealerfrom Dealer 60%60% 90%90% 30%30% 3434 44%44%

Customer Contacted more than once by Email Customer Contacted more than once by Email and Telephoneand Telephone 61%61% 85%85% 24%24% 2727 49%49%

Dealer Confirmed Availability of Dealer Confirmed Availability of Vehicle(s) for Sale and DeliveryVehicle(s) for Sale and Delivery 55%55% 89%89% 34%34% 3838 52%52%

*Survey Respondents received Emailed Survey invitations that were sent 24 hours after they had submitted an inquiry (Lead)… 77,000 Surveys Received during Q1, 2003



Impact of Dealer Response Attributes on Impact of Dealer Response Attributes on Vehicle PurchaseVehicle Purchase::

Dealer Response Attribute Experienced by Customer within 24 hours* of Submitting Lead

Purchase Purchase Respondents* Respondents* who who DID NOTDID NOT

experience experience the attributethe attribute

% of Purchase* % of Purchase* among the among the

Respondents Respondents who who DID DID

ExperienceExperience the the attributeattribute

GAPGAP

Correlation Correlation Factor of Factor of

attribute with attribute with Vehicle Vehicle

PurchasePurchase

% of ALL % of ALL Respondents Respondents

who who DID DID ExperienceExperience the attributethe attribute

Dealer made Direct Phone Contact Dealer made Direct Phone Contact with Customer after sending Emailwith Customer after sending Email 17%17% 27%27% 9%9% 1111 59%59%

Dealer Acknowledged Customer Request Dealer Acknowledged Customer Request 21%21% 23%23% 2%2% 11 94%94%

Dealer Showed Genuine Interest in Customer’s Dealer Showed Genuine Interest in Customer’s Wants & NeedsWants & Needs 21%21% 23%23% 2%2% 22 87%87%

Dealer Responded using Customer’s Preferred Dealer Responded using Customer’s Preferred Communication MethodCommunication Method 21%21% 23%23% 2%2% 11 93%93%

Customer Received Price Quotes Customer Received Price Quotes from Dealerfrom Dealer 20%20% 27%27% 8%8% 99 44%44%

Customer Contacted more than once Customer Contacted more than once by Email and Telephoneby Email and Telephone 21%21% 25%25% 4%4% 55 49%49%

Dealer Confirmed Availability of Vehicle(s) for Dealer Confirmed Availability of Vehicle(s) for Sales and DeliverySales and Delivery 22%22% 24%24% 3%3% 33 52%52%

*Survey Respondents who Purchased a Vehicle were identified via RDR data cross reference and match, Surveys sent 24 hours after lead submitted, sales tracked 90 days



Top 4 Ways to Sell More Cars

Experienced by Customer within 24 hours of Submitting a Web based Inquiry (Lead)

Purchase Purchase Respondents* Respondents* who who DID NOTDID NOT experience the experience the

attributeattribute

% of % of Purchase* Purchase* among the among the Leads who Leads who

DID DID ExperienceExperience the attributethe attribute

Correlation Correlation Factor of Factor of attribute attribute

with with Vehicle Vehicle

PurchasePurchase

#1#1 Make Direct Phone Contact with Customer Make Direct Phone Contact with Customer (after sending Email w/availability & prices)(after sending Email w/availability & prices)

17%17% 27%27% 1111#2#2 Send Price Quotes by Email to CustomerSend Price Quotes by Email to Customer 20%20% 27%27% 99#3#3 Contact Customer more than once by Contact Customer more than once by

Email Email andand Telephone Telephone (within First 24 Hours)(within First 24 Hours)21%21% 25%25% 55

#4#4 Make sure Customers are either Make sure Customers are either CompletelyCompletely or or Very SatisfiedVery Satisfied with the Lead Response with the Lead Response 21%21% 24%24% 33

*Survey Participants who Purchased a Vehicle were identified via RDR data cross reference and matching with Internet Lead Data

Recent Marketing research (Q1, 2003) confirms the Best Practices Recent Marketing research (Q1, 2003) confirms the Best Practices collected during “Best In Class” Dealer Benchmark studies.collected during “Best In Class” Dealer Benchmark studies.

How to sell more cars to customers that submit Internet leads… How to sell more cars to customers that submit Internet leads… Without relying on opinion or seat of the pants management!Without relying on opinion or seat of the pants management!

Close Automotive Internet Sales Leads with 1-2 Punch

Automotive

Transcript of Close Automotive Internet Sales Leads with 1-2 Punch