ELEAD1ONE BLOG

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Best_leads_are_in_your_CRM_ELEAD CRM

New leads are important, and you always want to keep the pipeline full.

Yet, it can cost as much as five times more to attract a new customer than to retain an existing one.

Doesn’t it make more sense to spend time nurturing the leads you already have?

According to research firm Bain & Company, a five percent increase in customer retention can increase profits by as much as 25 percent.

Therefore, nurturing a customer you already have is more profitable in the long run.

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Connected_Customer

The “always connected” shopper trend continues to grow.

In the last year alone, the number of consumers using mobile phones to research vehicles jumped 11 percent. It’s safe to say that 99.9 percent of the people who walk on your lot have searched online with a mobile device or computer.

When an online lead gets handed off to an in-store salesperson, it causes friction between salespeople and confuses the customer.

So why are so many dealerships holding on to the old-school divide between an Internet sales department and physical lot sales staff? Read More

Growth_in_a_Soft_Market
Increase_Lease_Penetration_Rates

Editor’s Note: A special thanks to contributor, Billy Reynolds, Eastern Regional Vice President of Sales for ELEAD1ONE. As an expert in Leasing and Equity Mining strategies, Billy has helped sales teams increase profits utilizing automotive retail technology at the dealer level and as a vendor partner for almost two decades.

As profit margins continue to shrink on new vehicles, what’s your strategy to make up some of that lost profit? I’ve talked with dealers who are pushing more extras like extended warranties, buying more leads or hiring more staff. But we all know that in this type of market, trying to stay competitive can be a race to the bottom and additional expenses don’t always equal results.

I believe a better strategy is to focus on increasing your volume and decreasing your trade cycle through better maintenance of your lease portfolio. Inside every CRM there should be a recession-proof book of business that requires few budget dollars to reach. Read More

internal_vs_external_bdcs

Many people assume that because I work with a company that provides BDC services, that I’m against internal BDCs. That’s actually not true. In some instances, it makes sense for a dealership to have an internal BDC.

Every dealership is different with its own unique processes and needs, so the decision really has to be made on a case by case basis.

Many dealers believe their in-house sales team should be able to handle all inbound and outbound sales calls, but not all salespeople possess the necessary personality traits to be successful on the phone, or they simply don’t have time to execute phone campaigns effectively.

The fact is, it takes an average of four attempts to get hold of a customer, and that’s with dialer software that predicts the best time of day to call. Most salespeople give up after two attempts.

Regardless of the reason, when calls are being mishandled or not getting made, it’s time to consider outsourcing to a BDC. Consider the pros and cons of using internal and external BDCs to decide which is best for you. Read More

Start_Improving_Inbound_Phone_Performance

Despite the increase in digital mediums for advertisements, calls to auto dealerships’ service departments have remained steady – and serve as the second most common form of initial contact with dealers.

While most dealers focus on bigger ticket items like new and used car sales, the service department should not be put on the back burner. The service department isn’t only a way to get new customers to your dealership, but also great retention and referral opportunities.

Recent inbound automotive call data published from a sampling of over 106 million phone calls over four years shows that over half (54%) of all inbound calls to automotive dealerships are revenue-winning opportunities.

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