HookLogic: How to Beat Your Competition and Drive the Highest Quality Leads to Your Showroom
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As dealerships get better and better at generating leads online, the challenge becomes developing processes to drive the best leads to your showroom. But how do you determine which leads are most likely to actually buy -- and how can you ensure that they buy from you instead of your competitor? Targeted incentives are a proven effective way to get motivated buyers into your showroom. Choosing the right prospects to incent will help improve your show-to-close, and keep your cost per sale down. In this free 30-minute webinar with David Metter, you'll learn the critical importance of scoring leads from all sources, and how to drive only the best leads to your floor. Metter will discuss: • Quality over quantity -- how to offer incentives to only the leads most likely to buy • Adding incentives to direct and email campaigns that will dramatically increase show rates • Re-incenting based on lead score: How to get the best leads to come back • Great processes for handling those leads once they're in the door ...and much more. With the summer months approaching, there's no better time to master the art of identifying and incenting top-quality leads!
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HookLogic: How to Beat Your Competition and Drive the Highest Quality Leads to Your Showroom
- 1. How to Beat Your Competition and Drive the Highest Quality Leads to Your Showroom Date: May 18, 2011 Speaker: David Metter
- 2. About HookLogic HookLogic, Inc. Founded in 2004 Proprietary Software-as-a-Service platform Technology proven in travel and retail space, as well as automotive Offices in New York, Michigan and United Kingdom Clients in US, Canada and Europe Some of our clients:
- 3. About David Metter • Founding Partner of HT Automotive Consulting Partners • CMO for a large, privately held dealer group for more than six years • Formerly, a GM, sales manager and one of the top Chrysler salesmen in the country • Leadership position at Autobase, a leading automotive CRM company • Frequent speaker at industry events including • Digital Dealer • Global Automotive Conference • JD Power Internet Automotive Roundtable
- 4. How to Beat Your Competition and Drive the Highest Quality Leads to Your Showroom Agenda • How To Identify Quality Leads • Lead Scoring • Processes For Handling Leads • How To Identify The Highest Intent To Buy • How To Differentiate And Win • Examples of Outbound Marketing Campaigns • Historic Results • Q&A
- 5. How to Identify Quality Leads • Traffic dwindles in summer • Quality over quantity is critical • How do you identify quality leads? • Sales teams want to deal with people who are ready to buy
- 6. Lead Scoring • Score leads from all sources • Sometimes third-party leads have higher close ratio than home-grown • Leads are covered from 1-10 based on likelihood to purchase • Factors taken into account: • Lead source • In-market timing • Past buying behaviors • Household demographic data
- 7. Processes for Handling Leads • FACT: People with higher lead scores buy at a higher rate • Incent these leads and ensure they buy from your dealership – not your competitor
- 8. How to Identify the Highest Intent to Buy Source: Polk • “Cherry-picking” leads by source may allow quality leads to slip through • GOAL: Drive customers with higher leads scores to the showroom
- 9. Differentiate and Win • What goes into the internet lead process today? • How can you stand out and win more sales? Hi, thanks Hi, thanks for for visiting! visiting! Hi, thanks for visiting!
- 10. Examples of outbound marketing campaigns © 2011 HookLogic
- 11. Historic Results Historic Performance Results: • 30% increase in overall show rate • 40% increase in overall close rate • Cost Per Incremental Sale: Under $90 • High level of customer engagement • Increased lead-to-show ratio • Higher show-to-close ratio • Strong sales close rate • Increased sales at low incremental cost • Revenue gains © 2011 HookLogic
- 12. Questions? Comments? Q&A
- 13. …and that’s that! Thank you! Teresa M. Kruse David Metter Automotive Consultant Founding Partner HookLogic HTACP tel 646.467.8226 tel 877.707.0909 cell 734.904.6174 cell 443.802.8850 teresa.kruse@hooklogic.com david.metter@htacp.com www.hooklogic.com/auto
Editor's Notes
- Thank you for joining today’s presentation, “How to Beat Your Competition and Drive the Highest Quality Leads to Your Showroom” with David Metter.I’m Teresa Kruse, Automotive Consultant with HookLogic, and I’ll be your host today.Before we get started, I want to review a few housekeeping items and let you know how you can participate in today’s Web event.
- David is a Founding Partner of HT Automotive Consulting Partners, an organization specializingin consulting on the development, integration, and operation of complex automotive business plans for auto dealers of all sizes.David has intimate knowledge of dealerships through his experiences beginning on the retail side where he was ranked as one of the top Chrysler salesmen in the country. His continued success allowed him to advance through the dealership organization chart to General Manager. These experiences have provided him with the knowledge of what information a dealership needs, how a dealership can best access that information, and in what format will allow them to analyze their daily sales and service needs execute accordingly. David also worked on the vendor side of the business with a leadership position at Autobase, a leading CRM Company. This position gave him a unique perspective on how to sell and support an automotive retail product. As a result of his success at Autobase, David was recruited and accepted a position with a large, privately held dealership group, where he was CMO for 6 yearsHe is a frequent speaker at industry invents including the Global Automotive Conference, JD Power and most recently, was a member of the “Best of the Best” panel at Digital Dealer
- So today’s we’re going to talking about beating your competition and driving the highest quality leads to your showroom. As you can see, we’ll be covering: (read agenda)
- We deliberately selected this topic at this time because, as we’re coming into the summer months, the flow of leads begins to slow. Lead quality becomes even more important this time of year. So, David, how do you identify quality leads?
- David, you mentioned lead scoring. Can you talk about your experiences with this?
- So what is the best way to handle this type of lead?
- So does a higher lead score really represent a higher intent to purchase a vehicle?
- With everything automated these days, and every dealership using similar CRM systems, how can you differentiate your dealership from your competitors’?
- So once you’ve made that initial contact, how can you apply that process to subsequent campaigns?
- Note that rates are aggregate
- How can you know that you’re not just offering incentives to people who would have come in anyway?Which scores are worth incentivizing?What kinds of incentives work best? Do they differ by lead score?What about managing the process? Who handles fulfillment, etc.?We’re not interested in lead scoring. Can we still use incentives? How?
- If you’re interested in learning about HookLogic’s solutions to drive more qualified traffic to your showroom, please contact me or visit www.hooklogic.com/auto. Thanks again…