Successful dealerships use lead flow as a tool for navigating customers through the sales cycle. However, establishing lead flow is not a one-step strategy – it requires converting leads, contacting customers, and selling and closing deals.
For all businesses, a regulated lead flow can help generate growth and profit. If your customer doesn’t move through buying stages smoothly and efficiently, it might be time to reevaluate your game plan.
Here’s how a strong lead flow will impact the success of your car dealership.
1. Your approach to selling will change… for the better
Not every lead is ready to buy. However, research shows that 50 per cent of customers purchase from the first business that responds to them. A well-established lead flow at your dealership will help your team focus on contacting promising leads quickly. Your pipeline will always change, so make sure to revisit your strategy every quarter to make improvements based on what you’ve learned.
2. You’ll reach targets faster and easier
If your dealership is generating sporadic leads, your sales profit will likely drop. Unpredictable leads, especially when a dealership is experiencing slower months, can turn your sales target into something that seems impossible to reach. A strong lead flow will ensure consistency throughout every stage of the buying process, which will help push your leads down the sales tunnel.
3. Your team will be stronger
Implementing a system practiced amongst your entire team will carve the steps that each employee should take. Developing and defining the guidelines for your team members will prevent missed opportunities and lost sales. If your sales team can visualize the importance of consistent lead flow through your system, they’ll better understand how to easily identify problems and focus on their selling strategies.
The average response time to a lead is approximately 61 hours. However, 21 per cent of people who are contacted within the first 5 minutes of inquiry are more likely to purchase. Focusing on lead flow will help you maximize revenue and keep your business paced and organized. If your dealership is looking to generate more leads and higher revenue, contact us to see how we can help today!