October 2011
Internet sales velocity comes from attacking process failure points. There are two that all too often occur just after arrival of a lead: failure to send a multi-vehicle price quote within 10 minutes, and failure to follow up with a phone call within 20 minutes. These days, there is just no excuse for allowing these failures to happen.
Reaching the Consumer First
It’s important to understand the perspective of the consumer here. She has just sent a lead to 3-4 dealerships. She’s putting each of you on trial. At that moment of truth, which dealer will show her how much he wants her business? All else being equal, he who comes first to the party, responding with the quote she requested and then following with a phone call to discuss it, wins. Simple as that.
So what constitutes a best-practice quote? On a new car lead, the quote should begin by presenting three alternative cars of the requested model/trim, showing different price points and feature packages. Then pre-owned alternatives of the same trim should be presented. For a pre-owned vehicle quote, usually the request is for a specific VIN. Lead with that vehicle, but still show alternative pre-owned vehicles, followed by new. This ensures the customer has a rich set of alternatives to choose from, creating the basis for a highly consultative conversation. Available incentives, leasing and finance options should also be presented, along with details about the vehicle.
If you can get such a quote back to the customer reliably in 10 minutes on every lead every time, you have taken step #1 on the road to becoming a 10X dealer. Now it’s time to turn to step #2: the phone call in 20 minutes.
I used to lighten up on smaller dealers on the question of a call within 20 minutes on every lead, every time. For a dealer with less than 300 leads, it seemed unreasonable to expect that dealer economics would support the staffing necessary to deliver on such a requirement. But those days are over. There now exist outsourced BDC options which will ensure that an intelligent, consultative call following up on a rapidly sent price quote can occur on every lead, every time, at least within the hours of 9:00 am to 9:00 pm seven days a week.
Critical Timing of Quote Delivery and First Call
Why is a rapid call so important? That’s because the value of a rapidly-sent price quote has a half life of about 30 minutes. Your detailed, multi-vehicle price quote just delighted the consumer and she wants to talk with you about it. She needs your help going through the alternatives and talking about the trade-offs. Like a dozen roses sent to her home, your quote has beaten every other dealer to the punch and set you up to win the customer’s heart. But failing to make an immediate follow-up phone call is like not showing up for a date! You just open the door for other suitors to step in. Keep her attention: get the call to happen right away.
Depending on the size of your dealership, it may not be feasible to create an organization that can reliably respond to every lead, every time, with a phone call in 20 minutes. Be honest with yourself and your team. If you can’t do it, then you must explore the alternative of setting your dealership up with an outsourced BDC that can make the call on your behalf. If you go this route, it is critical that the BDC receive a copy of the quote the customer has been sent before the BDC calls her. That way the caller can represent the dealership and the proposed vehicle alternatives intelligently, and position the follow-up from a dealership salesperson effectively.
Sometimes, a rapid follow-up call will progress immediately to scheduling a test drive, sometimes the customer will need more questions answered and will be working through the purchase process in a more methodical way. Regardless, there are things you should cover on the call, and there are things you should take from the call.
Value in the First Call
On every call, it’s important to understand the customer’s purchase timing, financing intentions and whether she seeks to trade in her current vehicle. It’s also important to seek a test drive appointment, and if that fails promise that a salesperson will get back to her with more information soon. Once the call is over, be sure to record every fact that could help advance the sale in your CRM so that the salesperson can follow up intelligently.
A rapid price quote and first call are now achievable for every lead, every time. As a dealer, it is your responsibility to put in place the processes and vendor partnerships that can make that happen. When you do, you will solve for two of the most daunting failure points in the Internet sales process, and you will be well on your way towards becoming a 10X dealership.
Written by Tom Mohr, President and CEO of ResponseLogix, Inc.
Learn how ResponseLogix SmartQuote and SmartFollow solutions can improve your internet sales practice
July 2011
Phil Cash believes that a good internet sales manager is more likely to sell 16 units a month if he’s working 65 leads than if he’s working 120. How can that be? Why doesn’t more leads turn into more sales?
Phil, the Internet Director at San Tan Ford in Phoenix, is an internet pro. He has his team work leads for 30 days with an established process. He delivers a store-wide internet close rate of about 20%. Here’s why fewer leads per ISM per month drives more sales: an ISM will become easily distracted if he is saddled with more leads than he can effectively handle. Like a Chihuahua chasing too many chickens he jumps to and fro, always baited by the chicken at the corner of his eye, never catching a feather. 65 leads per ISM drives more sales because his team can remain more focused. Each lead receives its due. And the ISM, whose income satisfaction level depends on 15-20 deals a month, has a powerful economic incentive to work his leads persistently.
That’s a good word for it. The diligent pursuit of 65 leads a month yields respectful persistence. Your customer will quickly notice the difference between you and the competitive store down the road. You’re checking in regularly. You’re discovering where the customer really stands in her car buying process. You’re still there when she gets back from vacation. She sees the difference; she knows the other guys peeled off after a week.
It all comes from the understanding that leads are precious. Phil knows how hard it is to generate lead flow. To realize strong ROI from San Tan Ford’s leads investment, a high close rate is essential. Phil’s belief is that if an ISM receives too many leads in a month, he inevitably “cherry picks”. Phil is determined to do away with cherry picking at San Tan Ford. Once a lead comes into the dealership, Phil ensures the lead receives the attention it deserves: a rapid initial price quote response (presenting within 10 minutes a quote that includes multiple new and pre-owned vehicles), a phone call within 30 minutes and an effective ongoing follow-up process. The 30 day live lead management process Phil has implemented is easily double the length of most solidly-performing internet departments, and it delivers the goods: high close rates.
With strong close rates on existing leads, it’s time to test the boundaries of opportunity. With confidence in your lead management process, the time may come to DRIVE YOUR CLOSE RATE BACK DOWN by expanding your lead radius. Bringing new lead volume into a sound lead management process is a sure way to drive up profit. Remember—it’s not close rate that pays the bills, it’s margin. Even so, limiting the leads per ISM per month enables you to ensure your team works each lead for all it’s worth. That is internet sales best practice.
Learn how ResponseLogix SmartQuote and SmartFollow solutions can improve your internet sales practice
May 2011
Recently, my company conducted a mystery shopping study to gauge the status of dealer responses to customer price quote requests. Brace yourself, here are the results:
Twelve percent of leads received no response—not even an auto responder. Fifty-eight percent received a response that was not a price quote, and 30% received a price quote response. Of those responses that included a price quote, 70% included at least one vehicle, but had no details about that vehicle in the quote. 30% included details and only 10% of the price quotes showed multiple vehicles with details on the vehicles. Only 2% showed multiple vehicles with detail including incentive information.
The median response time with price quote responses was 1.1 hours.
The study included over 1,300 dealers, with price quote requests submitted via the dealer’s website from 9 A.M. – 5 P.M. Monday – Friday in September and October of 2010. Responses were calculated on a 24 hour clock, and auto responders counted.
These results are sobering, especially when compared with the data on consumer expectations. A Polk Study showed that price is the most significant reason for selecting a dealership, followed by “response to the consumer’s request for information.” The most important options consumers seek when on the web are, in order: transaction price information, full range of product information, and ability to compare vehicles, according to a recent Capgemini study. The same company found in an automaker study that a response in 20 minutes doubled conversion rates. The data also showed that if the dealer takes too long to respond, the consumer will look for another dealer.
So if best practice is:
· A price quote response
· Showing multiple alternative vehicles
· Showing vehicle detail
· Showing up-to-date incentive information
· Received within 20 minutes
Then less than 1% of all responses from dealers fit this requirement.
Wow. Imagine if you at your dealership could master these best practices. You would gain a commanding advantage over your competition. Here’s the point: you can, and you should.
Of course, a rapid multi-vehicle price quote response is not the only critical success factor: a quick initial phone follow-up call, followed by a rigorous human 14-day follow-up process, followed by an 180 day ongoing follow-up process, are also important factors in your success. But the price quote is the first critical step.
That’s because the arrival of a lead at your dealership is “The Moment of Truth.” That lead has been sent to multiple competitors. This is the moment when you can profoundly differentiate yourself from the competition. If you execute a multi-vehicle price quote, with details and incentive information, back to the customer in 20 minutes, you move to the front of the pack.
Add the other ingredients noted above, and you are like the Star Trek Enterprise after hitting the warp speed button: you’ll leave your competitors eating stardust.
Try our SmartQuote Demo to see a multi-vehicle price quote
CEO Insights•
on December 10th, 2010•
December 2010
In today’s high-performing dealership, the web is the strategic center.
What does it mean to be web-centric? It means that EVERYTHING is built around web-based systems. These systems attract customers, ensure rapid, high-quality initial response to their requests for information, manage ongoing communications, manage inventory and inventory pricing, and schedule service visits. In the high-performing dealership, these systems are built to effectively inter-operate as necessary to support the enterprise.
To build a web-centric dealership, one starts with the end in mind. The job is to attract customers, effectively merchandise, receive leads, respond to leads effectively, follow up effectively, manage interactions, track vehicle status through the sale and engage the social web.
Attract Customers
To attract customers, the web-centric dealership has mastered SEO and SEM. The primary website has been optimized for Google Page Rank. Some auto dealerships have introduced microsites to increase the entry points into the dealership’s web environment. You can’t sell a car if no one ever sees you.
Effectively Merchandise
More than 2 million listings compete for shopper attention at any time. Specific search criteria help buyers filter results faster than ever before. The key is to present in-demand inventory, at a competitive price, with photos and copy that sells. Tools such as vAuto, FirstLook and AAX enable the dealer to appraise, price and merchandise their vehicles. You can also use inventory feed solutions such as HomeNet and Dealer Specialties to ensure your inventory is sent to the right sites for presentation to your marketplace.
Receive Leads
How easy is it for the customer to request a quote on your website? Is the lead form “front and center”? Do you have a benefit for the customer, such as “Receive a Price Quote in 20 Minutes”? Leads can also come from third party providers and OEM’s, but the best-performing lead is one that comes to your own website. Make it easy for the customer to send you a lead.
Effectively Respond (Initial)
The data clearly shows that a price quote response within 20 minutes doubles your conversion rate. Systems exist today to perform this function, which is called “Digital Response Management” (DRM). Make sure you have a DRM solution in place that ensures a multi-vehicle price quote sent from the assigned sales rep gets to the customer in 10 minutes every time. It can double your sales.
Effectively Follow Up
Automated, web-based follow-up solutions are in place today that enable the dealer to check in with a customer who initially expressed interest but then didn’t purchase right away. This ongoing follow-up is a key success driver. If executed well, a dealership will see a significant lift in sales as customers are attracted back into the purchase process.
Manage Ongoing Interactions
To keep track of your leads and to have a total view into the customer, you need a good CRM system. A comprehensive CRM tracks the customer’s every interaction with the dealership, from initial lead through purchase and into the ongoing service experience. If you’re still just operating on an ILM solution, take the leap to a full-fledged CRM
Track Vehicle Status
The DMS system is the backbone of your dealership, as it provides the accounting status of all vehicles. Increasingly these tools are delivered via web-based SaaS platforms. DMS data can also power customer lifecycle solutions such as OneCommand for following up after the sale.
Engage the Social Web
Your customers talk about you online. To the degree you can engage them and solve their problems, you can turn those conversations positive. Many dealers have Facebook pages, but the vast majority have less than 100 Friends. The best dealers in the social space have over 1000 Friends. Make sure your social presence reinforces your overall market position.
Once these systems are in place, the key is to tie them together as seamlessly as possible so that your internal work flows are optimized. At the end of the day, people need to interact with these tools and systems to make everything work properly, and since the tools all come from different vendors there is invariably some work to do to bring everything together.
By tending to the web and your corresponding systems infrastructure, you create a web-centric dealership. By creating a web-centric dealership, you execute a power shift that vaults your dealership into the top ranks.
Learn how ResponseLogix SmartQuote and SmartFollow solutions can improve your internet sales practice
CEO Insights•
on November 7th, 2010•
November 2010
It is stating the obvious to assert that core systems such as your Digital Response Management (DRM) system, Customer Relationship Management (CRM) system, dealer websites, inventory management system, vehicle locator system and dealer management system (DMS) are vital to your business. But as critical as they are, how do you evaluate their impact? For many, “systems” are maddeningly complex, prone to failure and too often inhibit (not support) mission-critical work flow. But in attacking the problems, dealers can quickly acquire a case of tunnel vision, focusing just on the existing system and not thinking about its purpose in supporting overall sales strategy.
That’s not true in the best practice dealership. Like the Zen symbol, strategy is embedded in systems, systems are embedded in strategy, and one embraces the other inextricably. Anything else ensures dysfunction.
To build a powerful and integrated set of systems, one starts with the customer experience. What is the experience you want to deliver your customer? It should look something like this:
- The customer may be drawn to your website(s) by many channels—positive posts on social media sites, SEO and SEM
- The customer may be drawn to you via channels beyond your reach, such as manufacturer or third party websites
- If on your website(s) the customer should be easily able to search competitively priced inventory, request a price quote, determine your hours of operation, location, etc.
- Some customers will call you; if so they should reach someone who has the ability to answer basic questions
- After sending in a lead, the customer should receive (within 10 minutes) a multi-vehicle price quote from the assigned sales rep
- Within 10 additional minutes, the customer should receive a first phone call or follow-up email from either the assigned sales rep or his assistant, proposing a test drive
- The disposition of the prospect should be noted
- If the prospect wants a test drive, the time of the test drive should be noted
- If the prospect indicates a purchase timeframe, that should be noted
- If the prospect indicates preferences, that should be noted
- The customer should receive calls and emails on a 2-week follow-up schedule that is aggressive and respectful, given she has expressed interest in a vehicle purchase
- If the customer hasn’t engaged by the end of 2 weeks, she has indicated she’s not in the immediate market to buy and therefore should begin to receive less intensive, softer follow-up connections, mostly via occasional transactional emails checking in on her buying status over time.
- If the customer comes in for a test drive and ultimately decides to buy, the purchase status should be recorded along with all the necessary information to communicate with the customer post-sale
- As the customer encounters service timeframes, reminders should be sent to draw the customer into the dealership. Simple appointment-setting tools should be incorporated into the follow-up messages.
There is much more detail required in order to build out a comprehensive vision for the customer experience you want to deliver, but the points above should give you the sense for it. Only once you have clarity as to your desired customer experience, can you turn to your systems. Systems exist to reduce labor inputs in the accomplishment of a task. Since your systems exist to support your sales process vision, you can take each step in the process and ask yourself the basic question: how do my current systems support that step? Do they make the human effort easier or harder? Where more human effort is required, is the investment in time (say, to enter data) rewarded in increased sales impact down the road? Is every step within each system seamless, clear, obvious? Or does it take a long time for the user to learn how to work the system?
Out of this discovery process, you can determine the state of your current systems, and begin to evaluate your alternatives. With this foundation you can methodically identify the pros and cons of every system (DRM, CRM, inventory management, website providers, DMS, etc.) and make intelligent choices.
Of course, the acquisition of a system is just the beginning. Configuration is next. Referring to your “desired customer experience”, configure the system to support the steps in your process. Don’t create any step you don’t need to take. Build in every step you do need.
Once you have configured, you need to train your team. Leverage the system vendors! They can be your partner in ensuring that every person tied to a system knows what to do.
Once you’re up and running, the game turns to optimization. Every system can be refined. Adopt a culture of “continuous improvement”. It is far better to make a series of small improvements, one or two a week, every week than to try to “fix everything” in periodic fits of rebuild activity once in a blue moon.
At the end of the day, your systems are your backbone. They give you the structure and strength to scale your sales and manage your team. Tend to them well, consistent with your strategy, and you will reap powerful rewards.
CEO Insights•
on October 26th, 2010•
October 2010
The arrival of a lead is the ‘Moment of Truth’. Best practice is to execute a multi-vehicle price quote right away every time, followed by a phone call in 10 minutes. The dealer who consistently delivers his customer a 10 minute call in response to an internet lead is best of breed: the “10 Minute Dealership”.
A dealership can invest in software tools that are readily available to achieve the immediate price quote back to the customer. But what about the 10 minute call? That’s tough to achieve. Leads come in when the internet staff is in a meeting, or reps are with customers, on test drives, off that day, and so forth. In the daily hubbub, it’s just hard to ensure that every lead, every time, gets a high-quality phone call response within 10 minutes.
Today I’d like to focus on organization structure. How can a dealership profitably solve for the 10 minute phone call response? How can you become a ’10 Minute Dealership’? The organizational options vary based on size of dealership.
The dealership with less than 100 leads faces the greatest challenge. Since lead conversion rates are about 12% if you have a strong process, a dealer with 100 leads has about 12 (sold deals per month) X $1800 (gross margin, front and back) = $21,600 a month to work with. Once you’ve paid for the direct costs of your ILM system ($600), your digital response management (DRM) solution ($800), your website ($1000), your leads ($300) and your salesperson ($3500), you have a variable margin of $15,400 left to contribute to everything else in the dealership including profit.
So how do you achieve the 10 minute call every time, given your one salesperson is off a couple days a week, can’t work from dawn to late evening and is often occupied with other responsibilities when leads arrive? The only solution is alternative coverage. Task the dealership receptionist to make ONE phone call attempt, within 10 minutes, on every lead that arrives during her shift. If she can’t reach the customer, she must leave a scripted message on voice mail, and alert the salesperson to follow up. If she reaches the customer, she must follow a defined script of questions leading to request for a test drive. Pay her $25 for every fulfilled appointment, and keep track of her calls to ensure they actually occur within 10 minutes at least 90% of the time during her shift. Of course, she can only work 40+ hours a week, and at times the floor traffic will impede her ability to make the call in 10 minutes. But even if 50% – 60% of leads get called in 10 minutes, that’s far better than the alternative. Do this, and you will have built an organization that can deliver a 12% conversion rate.
For a dealership between 100 – 300 leads, more options become available. At a 12% conversion rate, a dealership with 300 leads now has gross margin per month of about $64,800. Assuming you have invested in a full-featured CRM at $2500 a month, a DRM solution costing $2000 a month, a website that is $2000 a month, a third party leads budget of $2000 and a three-person internet sales team costing $10,500, you now have $45,800 remaining in variable margin. With 10-15 leads coming in every work day, you can afford a dedicated person ($2800 / month) whose job it is to make the first phone call. This person’s job is to be on alert the moment a lead arrives, ensure the DRM solution has sent its quote, then make the call to the customer in 10 minutes, following a phone script. One attempt, then the customer is referred to the internet sales rep for follow-up. Since this is only one person, there will be days when the 10 minute call doesn’t happen, but with 3 sales reps able to provide initial coverage when she’s not available and when they are, the success rate should be approaching 75% of all leads. Because you’ve brought up the percentage of leads receiving a quality first call, your conversion rate should be consistently north of 12%– perhaps 13% to 15%, depending on your third party lead volume.
For a dealership over 300 leads, you have the ability to build a dedicated internet BDC. With multiple people covering the hours from 8 AM – 8 PM 7 days a week, you ensure that 90% or more of your leads receive a first call within 10 minutes. If this team has been well trained to follow a carefully developed script, these calls will deliver the customer a powerful sales process every time. The team can also be employed for follow-up calls after the assigned salesperson has given up. This, combined with a thoughtful follow-up email marketing program, will deliver the optimal follow-up process, end to end, for every lead every time. The dealers that achieve this level of execution excellence are capable not just of driving their conversion rates into the 15%+ range, but also of expanding their lead buying and website / microsite optimization to drive lead count ever higher. The result can actually be a slight reduction in conversion rate, which is more than offset by substantially higher monthly unit sales. This ‘virtuous cycle’ of improved process, higher conversion rate, wider leads net via third party and website activity, lower conversion rate but higher unit sales is a huge profit engine that propels the best dealerships into internet leadership in their regions.
The key is to commit yourself to the immediate price quote and the 10 minute call. Once you are committed, you will build the organization that achieves it. That’s the path to success. That’s the 10 Minute Dealership.
CEO Insights•
on September 17th, 2010•
September 2010
Last month, ResponseLogix crossed a key milestone. Due to a steadily accelerating monthly net dealer growth rate, we now serve over 500 customers. 1000 here we come!
Of course, the growth in our ResponseLogix dealer community is exciting. We like growing the community of highly successful dealers.
I passionately believe that we are here to sell you success, not software. We care deeply about the impact you are making in your marketplace.
This is why our account managers now call you twice a month and review data and best practices with you. We want you to experience the full potential of a rapid, multi-vehicle price quote and effective ongoing follow-up.
That includes helping you optimize your structure and processes so that calls can be made back to the customer in no more than 15 minutes, so you have highly effective 15 day salesperson follow-up procedures, and can maximize the number of customers that schedule an appointment, come in and buy a car.
A Well Executed First Call
Today I’d like to take a moment to dive deeper into the first customer call. It’s so important.
The submission of an internet lead is the first step along the trust continuum. Here, the customer is an arm length away. She has submitted her lead to multiple dealers and is in a position to evaluate the response from a distance.
Specifically, the customer has asked for a price quote. Of course, you give her one– a multi-vehicle price quote in 10 minutes that we call SmartQuote. What you do next is key: get on the phone within 15 minutes of lead arrival if the phone number is present, or email a request for the phone number (in 15 minutes) if it is not. That kind of quick, comprehensive response sets you dramatically apart from your competitors, who on average) do not even respond to 25% of all leads and whose average response time on those that are responded to is over 5 hours.
When the customer accepts your call, she has signaled that she has built enough trust in you to give you a full hearing. She is ready for you to prove to her that you can best serve her needs. So be sure to have a well thought through phone script that uses the Powerful Words and Phrases featured in the July newsletter.
Then you can use the quote as the focus of your conversation on which of the three new vehicles and four pre-owned vehicles surrounding the trim-level request does the customer find most interesting. The first call is your opportunity to demonstrate your product knowledge, to cover the key issues, and to set the appointment.
With effective salesperson follow-up over 15 days, then initiation of SmartFollow, we have created an optimal end-to-end customer experience and an optimal process to drive sales results.
CEO Insights•
on July 7th, 2010•
July 2010
What is the impact of word choice on sales? In a word, dramatic.
When a customer submits a lead to a dealership, it is best practice to execute a multi-vehicle price quote within 10 minutes. It is also best practice to follow with a phone call in 10 minutes. But what do you say on the call?
This is often a key point of failure in dealerships. Some dealers do not provide their sales reps with scripts at all. For others, the script is poorly conceived, and underperforms. It takes thought and work to execute the ideal script.
I recently spoke with a top training executive with an outsourced telemarketing company supporting auto dealers. This large operation scores 90,000 calls a year. This executive has closely studied the data regarding the effectiveness of words in sales and service contacts. From his 20 years of research and work practice, he has discovered that there are 9 key customer-friendly phrases that have proven to build trust in a conversation. They are:
- No problem
- I understand
- Allow me
- I’d be happy to
- Well informed decision
- It’s been my experience
- I’m confident
- I wouldn’t expect you to
- Fair enough
Now let’s use some of these phrases in a real call script. This script assumes an assistant is making the first call.
Good (morning, afternoon, evening). May I speak with (customer name)? Hi, my name is ______. I’m the sales assistant calling on behalf of (dealership name). We just received your request for information. I’m calling to confirm that you received my response. Have you received it?
NO– OK, Are you close to a computer?
YES– Good. Are you close to a computer?
NO– No problem. I’d be happy to go over the information with you. (Customer name), my goal is to work with you today to provide all the information you need to make a well informed decision. Fair enough? Please stop me if you have any questions.
YES– Great. As you can see, we’ve sent you X price quotes. I’d be happy to go over your options in further detail. (Customer name), my goal is to work with you today to provide all the information you need to make a well informed decision. Fair enough? Please stop me if you have any questions.
Now, since you said this is a good time, allow me to go over the email that was sent to you.
Of the X options we sent you, is there one that sounds like it will fit your needs?
1. Okay, have you test driven the car? (Take note of answer)
NO– No problem. I’d be happy to get that set up for you then.
YES– Great. What was your experience?
(Based on responses, phrases such as “It’s been my experience”, “I’m confident”, or “I wouldn’t expect you to” might be appropriate)
2. Are you comparing any other makes or models?
(Take note of any other makes / models; use “9 customer-friendly phrases” in response)
Have you considered whether you want to finance, lease or pay cash?
(Take note of answer; use “9 customer-friendly phrases” in response).
What made you decide to send us your request for a quote today? (Take note of answer; use phrases)
Do you have a trade? (Take note of answer; use phrases)
SUMMARIZE WHAT YOU’VE HEARD (shows you’ve listened; creates opportunity to ask questions you might have missed)
Please allow me to ask, what is the best time for you to come in for a test drive? I have an appointment opening tomorrow at 2:15 PM and 4:15 PM. What works best for you? (Appointment time established.) OK great. I’m confident that we can address your needs and help you make a well informed decision. We will see you at (agreed upon time). Fair enough?
Thanks for your time. Just call our Internet Manager at ______ if you need to reschedule your appointment.
Note the tone that is created by the use of these phrases. By use of these words, you establish trust. The approach signals that you are there to be of service—to help the customer make a well-informed decision. The great irony of selling is that you are best at it when your focus is not on the sale, but on the customer. These 9 customer-friendly phrases position you as someone who cares—which is the key gateway to superior sales performance.
CEO Insights•
on June 16th, 2010•
June 2010
For three of the past four weeks, I have been on the road (Phoenix, Seattle and Washington, DC) talking with customers. To hear from you, our customer, is the best part of my job!
Of course, it’s great to hear how our customers have gained advantage over their competitors by winning at the initial response to a lead known as the “Moment of Truth.”
Your success is our success, and there’s nothing more exciting than to hear these stories of conquest. Having had many such conversations with customers all across the country, best practices have become increasingly clear.
The most successful dealers have combined the speed and quality of SmartQuote with a very rapid phone call follow-up (best practice is 10 minutes after lead arrival). In this call, the best practice dealer seeks to further qualify the customer and gain the all-important appointment. The SmartQuote itself becomes a key tool to disarm the customer and create a consultative conversation (“I just sent you a price quote with multiple vehicles. Which ones best reflect your vehicle of interest?”). These top-performing dealers also have well thought through follow-up protocols that carry on for 10 – 14 days before leaving the follow-up task to SmartFollow. And of course, the moment they receive a SmartFollow reactivation they’re jumping on the phone to make a call in 10 minutes back to the customer.
But it’s also remarkable to me the thoughtfulness with which our customers share ideas for improvement. Ideas such as improving our SmartFacts analytics package (version 2 soon to be released), and the ability to embed links to video in SmartQuote (now available), and countless other helpful ideas have led us to prioritize our product development in accordance with your feedback. We take these inputs very seriously.
In our on-going mission to help dealers drive the maximum number of customers into their stores, the stories, ideas and input of our customers expressed directly to me in meetings at your dealerships is powerful. I learn greatly from these conversations, and thank each of you that I have met with for your time and ideas.
As we head into the heart of the Spring and Summer selling season, may the combination of our tools and your great processes deliver you outstanding sales outcomes!
All the best!
Tom Mohr
President and CEO
CEO Insights•
on May 30th, 2010•
May 2010
I am pleased to share positive changes that are coming your way starting right away.
First, we have made the decision to create a team of account managers whose sole focus it is to provide you ongoing customer service and support.
To date, our account managers also handled the responsibility to launch new dealers, taking about half their time.
With this change, your account manager will be much more available to you to support your growth and success using ResponseLogix.
To head this team, I am pleased to announce the hiring of Nick Lozovsky into the position of Training and Account Management Director.
Nick comes to us from an automotive consulting background, most recently providing consulting support to a number of dealers in California and Colorado, most of whom use ResponseLogix.
He has developed powerful, successful processes in the stores he has worked with that, when combined with our SmartQuote and SmartFollow products, have consistently delivered outstanding results.
More broadly, he has a strong success track record across his entire 10 years closely involved in internet auto sales. I look forward to you meeting him so you can gain the benefit of his ideas.
