You only make money on a car when it leaves your lot. The longer the car sits on the lot, the more it is costing you.
Meanwhile, U.S. personal consumption expenditures toward new and used autos and investments in motor vehicles are forecast to grow at an annual compounded rate of 6%. The question is: What can you do so that you are not left behind in the race to get your share of this sales growth?
Find the right buyer
Rather than scrounging for weak leads that will likely not buy, you want to spend your time with the ones who will. Traditionally, auto sales have depended on people walking into the showroom. Today’s buyers are more technically savvy and likely to do their research online.
If you don’t get to these buyers in time, your competitors will and you may never see them. Don’t wait for these potential customers to walk in.
How to reach the buyer
Buying leads from third parties can be an option, but you know the pitfalls already. They simply don’t work. You don’t know where these people live, what their interest level is, and whether they really qualify. They may have clicked something online, but are they really serious? You have no way of knowing. Not only that, you are paying too much, as much as $13 or more, for these “mystery” leads.
Buying display ads can be another option that you pursue in the hope that it will bring the buyers in. Again, the question is how much are you spending for your display ads? You could be paying big bucks for just a few clicks.
On top of that, you have no way of reaching the ones who clicked. The average response rate for display ads is around 0.07%. What’s even worse is that none of these methods generate leads that are exclusive to you. How many of your competitors are working on the same leads?
Get the serious, exclusive buyer
The following are the characteristics of the type of exclusive buyer you’re looking for:
- Someone local
- Has the money to buy
- Is looking to buy
You need a lead-generation solution that will generate serious leads (buyers) exclusively for you to follow up with. You should expect your solution to be able to:
- Find the buyers based upon your criteria.
- Craft your message and deliver it to strong leads via email, phone, social media, website, flyers, and SMS. The purpose is to cover all the ways and means to reach out to your buyers.
- Identify the “hot” leads using analytics.
- Give those hot leads to your sales staff, which can then follow up via email or one-touch calling from their cell phones. This allows your salespeople to spend their time following exclusive, hot leads.
With the means available, your sales team will be busy closing these exclusive leads before your competition can get to them. Using this approach, you can reach out to thousands of people, but only invest your time talking to the prospects that are ready to buy.
This method of lead generation helps your bottom line—your sales team closes more deals quickly, and you clear your lots faster.
Ajay Sagar, [email protected], is an entrepreneur with a technology background. He is part owner of Pixl Inc. and is VP for business development. Pixl is the creator of Officer Apps, a suite of business management applications. Among others, Officer Campaigner is for marketing and sales automation. Around these applications, the company custom-builds solutions that help businesses to conduct their operations economically, efficiently, and in a timely manner. Any business, regardless of its type or size, can take advantage of Pixl’s Officer Apps to grow its profits.
Latest posts by Ajay Sagar
- An All-In-One Solution Provider Relieves the Pain of Unsold Vehicles - January 11, 2016
- Use Exclusive Leads to Find Ready-to-Buy Customers - December 3, 2015