Closing Ratios - Appointments Shown - Phone VS. Internet

Craig Waikem
Looking back at our data, closing % in showroom is pretty consistent with internet leads and phone ups. My internet is a slightly higher closing percentage in the showroom. Probably because they are a more informed, educated and bottom funnel buyer. A phone up could be from a direct mail piece, print ad, website, or any ad source. Phone ups are consistently much easier to set appointments than a internet lead, which results in more shows, and more solds, and an overall higher closing percentage. We ask our showrooms to close at 65% regardless of the source, but they rarely meet that benchmark. Our benchmarks are set the appt 35%, show 65%, sell 65% = 15% closing. Yours Donnie Hinkle?
Donnie Hinkle
Craig, over the last 6-months our averages are as follows: 38% set, 53% shown and 35% of shown sold. The reason for my questions is that we too are establishing benchmarks. Keep in mind we are doing these numbers without a BDC, all of our salespeople handle incoming calls and internet leads, but that is hopefully about to change. We had some good number in 07 when we had a BDC. July 2007, 81% of leads contacted, 44% appointment set, 92% shown and 54% sold. March 2008, 91% contacted, 40% appt set, 90% shown and 105 sold or 42%. BDC sold 49% of all sales for the dealership. These are random months I pulled. Man we were good at getting them to show. Thanks Craig. Anyone else have any input?
Jared Hamilton
We generally see high performing stores closing 50% of their phone appointments, but 65% of their internet appointments that have shown. The exact reason is as craig suggests. By the time you have an internet customer show up, you have already done some what of a more in-depth online needs assessment, built a relationship and many of the lookie-loos have weeded themselves out of the equation. Those are the benchmarks I would strive for. Naturally as craig suggested, they will fluctuate, but those are solid benchmarks to shoot for. Well done on tracking this stuff... youre ahead of the average stores out there. NIce job.
Donnie Hinkle
Thank you Jared. I appreciate your expert advice.
Sam Jarvie
It all depends. If you are transparent in your pricing and information you should close a lot higher percentage of your appointments that show. If you are old school (you need to come in to get the best price) then you will close them at a lower ratio. We close our appointments that show at over 50%, but we are free with our info. We quote price, payments, trade-in values etc. before the customer shows up in the store.
Donnie Hinkle
Sam are you guys Negotiation-Free?

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