The idea that car researching, shopping, and purchasing is moving online is not a new story, but Covid-19 accelerated that trend in a significant way. As the retail environment returns to a more normal state, one change that is likely to stick around is consumers' increasing preference for completing financing pre-qualification online. That means connecting with those … [Read more...] about Harnessing the Power of Pre-qualified Sales Leads
It might sound counterintuitive, but one of your best ongoing opportunities for boosting dealership sales lies in the Service department. Consider the typical sales prospect walking through your showroom front doors. They wait for an average of six years between vehicle purchases.1 Their life circumstances are wildly different from the last time they bought, and yet they … [Read more...] about Sales Opportunities Start… In Service?
The question of what is the true cost of a lead can be answered by different people in many different ways, but here we’re going to use the Conversica answer. We like to look at the lead cost as what we refer to of as an effective lead rate. There are a few factors that go in an effective lead rate: the number of leads, the engagement rate, and the per-lead … [Read more...] about What Is the True Price of a Lead?
In this age of intense competition, dealers need to get back to the basics of responding better to leads to increase sales—and as of now, there’s a lot of room for improvement. Digital Air Strike recently conducted a Mystery Shop Study of more than 1,500 dealerships to gauge their response habits on leads from their website and social networks, and the results were less than … [Read more...] about Top 8 Ways for Dealerships to Convert More Leads Into Sales
When we look back at 2017, the best word to capture the year in automotive retail is fascinating. Between the drop in the record-setting 2016 sales figures to the uptick in vehicle demand from the disaster-ravaged states in the aftermath of Hurricanes Harvey and Irma, this past year’s seasonally adjusted annual rate (SAAR) was nothing short of a rollercoaster ride. 2017 … [Read more...] about A Look Back at Automotive Retail in 2017 Reveals the Path Forward for 2018