ELEAD Digital is regularly asked how best to grow a dealership’s digital business. Many factors go into deciding on the best digital strategy to help achieve maximum success. Whether you have an in-house or outsourced BDC or cradle-to-grave style department, the single most important piece is your in-store processes.
The closing ratio is one of the best indicators of how well your processes are working, but this shouldn’t be the only factor to consider when fine-tuning a department. Some lead providers have a low closing ratio but still provide value in list building or focus on targeting segments of your market that will help fill your pipeline. Lead provider blend should be analyzed and adjusted to help you achieve the best, most consistent, and realistic closing ratio for your business.
Analyze your marketing mix. Use the lead funnel, seen multiple times, to place your providers in the appropriate buckets: research, shoppers, and buyers. Don’t forget to make special consideration for special finance and auction-style leads, as well.
The first step in defining your process is to manage your initial responses. Lead generation is very important. Knowing what prompted the customer to reach out to you and responding appropriately and quickly will ensure the greatest probability of conversion. If an automotive shopper completes the schedule a demo form for a test drive but receives a price quote, he or she will get turned off, and you may cut into your gross potential. Being mindful of your responses as this critical the first impression point is of the utmost importance. You need to build on your processes from that point and make sure they are being followed and managed for at least 90-days. Manager involvement and process accountability are equally as important. Manage your team’s activities by inspecting what you expect…daily!
- Know your forms on your website and where they are all located
- Ensure that the forms are parsing to your CRM correctly
- Know which forms are converting at the highest rate
- Your website leads should close at 20 percent or higher; track this rate daily
As your closing ratio reaches the benchmark, this is the time to talk about growing the lead count. Doing so prematurely will merely add expense to the bottom line without increasing the return on investment. With your focus on website lead optimization, website leads and the processes associated with them will ensure the greatest return possible from your additional lead providers.
At ELEAD1ONE, we focus heavily on helping dealers to achieve maximum conversion rates for our ELEAD Digital website clients. Here are a few best practice tips:
- Provide strong calls-to-action and make sure they stand out
- Oversized flashing buttons do not necessarily create the best results
- A simple contrast from the primary color scheme can make a major impact
- Keeping your forms simple and clean gives a great impression and raises conversion rates
If you are ready to grow your lead count, the Digital Team at ELEAD1ONE can help. Please contact us to schedule a time to speak with our industry professionals about how we can help to maximize your online presence.