Best dealer practices: Lead management

By Retain Media

Twenty years ago, the average vehicle buyer visited five dealers on the path to purchase. Today, the median buying journey spans six months – double what it was in 2017.

Nowadays, buyers are time-poor and no longer physically go from dealer to dealer to do their research. Just as when they book a holiday or buy a new TV, the majority of caravan buyers do their research online before they contact anyone, and the dealership website, rather than the sales yard, is now the key asset for generating leads.

The 2022 Deloitte Dealership Benchmarks report states that dealership websites are now responsible for generating 77% of new vehicle leads, whether directly through the website or by prompting customer walk-ins.

Speed matters

In an era of same-day delivery and instant gratification, potential customers expect an immediate response. If they don’t receive one, they take their business elsewhere.

Waiting a day, or even an hour, is no longer an option if you want to convert your leads to sales.

Research consistently shows that responding to a customer’s enquiry within five minutes makes you 21 times more likely to qualify that lead.

The quicker you can respond, the more likely a lead will convert.

Follow a process 

The key to converting leads is a clear sales playbook. Without one, leads fall through the cracks and results become impossible to measure.

A strong follow-up process combines phone calls, emails and personal touches across multiple contact attempts in the days after enquiry.

Qualifying questions also make a difference early on, helping salespeople understand a buyer’s motivation, urgency, trade-in requirements and budget.

The bottom line: speed gets the lead. Follow up fast and follow up often.

Businesses with access to the industry portal can read the full article – including step-by-step advice and supporting consumer research – HERE.

This content was provided by Retain Media as part of its partnership with Caravan Industry Association of Australia. It does not necessarily reflect the views or opinions of Caravan Industry Association of Australia. References to products, services and claims made in this article should not be viewed as endorsements from Caravan Industry Association of Australia.