You achieved 1,000 calls in your BDC. Do you know how many of them were initiated in your VDPs? You got 50 test drives last week. How many can you expect to move on to negotiate and buy? Last month your dealership sold 200 cars. Of those new purchasers, how many will transition into regular maintenance programs with your service department?
If you can readily find this information or can call these numbers to mind, congratulations, you are better than most. If not, you have a distance to go, but can rapidly make improvements on how you view your sales funnel and ultimately, can influence new buyers.
Your sales funnel, path to conversion or decision journey: these synonyms all describe the natural events that occur in order to generate a sale. It looks something like this:
- 1000 people visit your website, which generated 4,500 VDP views.
- Of those VDP views, 1.25% initiate contact.
- Of those that contact, 50% make an appointment.
- Of those, 25% will perform a test drive, and
- Of those, 50% will buy from your dealership.
Do you know and understand how each of these points along the funnel can be amplified or improved? If you know the conversion metrics, you are better than most. If you’ve identified ways to optimize your VDP’s for more points of contact, you are in the top 2%. Use what you know to generate more sales!
For more on this topic and to download a funnel worksheet, click here.
Our market research team routinely analyzes trends in automobile purchasing, identifying where people are buying, what they are buying and from whom they are buying. We use this research to locate your customers wherever they are online and deliver targeted messages to them. The auto buying process is no longer linear. We use data to find auto intenders online based on of their online behaviors, and are able to deliver targeted messaging directly to them across multiple channels, delivering the right message to the right customer.