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Jared Hamilton
From: Jared Hamilton
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Amy Taggart

Amy Taggart Marketing Manager

Exclusive Blog Posts

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Are You Monitoring Your Process for Working Finance Leads?

Over the past several weeks, I've been writing about best practices for working auto finance leads. We've covered setting the appointmenttraining your team, and getting folks in the door before pulling their credit.

You've walked your team through this initial part of the sales process, and they all understand how important it is to follow these steps.

Theoretically.

What are you doing to make sure they're making the calls and following the process? Do you have a CRM? Do you have access to your call switch data, or do your sales people self-report their call and pipeline activity?

We encourage our partners in the Carloan.com Dealer Network to use a combination of all three, if they can, in order to get a full picture of how their sales team is using the finance leads they're getting from us.

[Full disclosure: we've got this great ILM called DOLLAR that has fantastic reporting capabilities that we train all our dealers to use. Just sayin'.]

What it really allows you to do is identify any gaps in your process. If you know what your sales process steps are and keep track of the numbers, you can figure out where you're falling short. Not setting enough appointments? Too many no-shows? Dig in and find out what's going on.

And fresh intel out of Digital Dealer 12 (#DD12) last week: "every two no-shows equals a lost sale."

Missed opportunities right there.

You're already spending the money to feed your sales people leads. Make sure you're the first to know if there's something going on with the way they're working their pipeline that's impeding their ability to sell cars.

Jim Bell
Great points Amy. The one thing that we run into is on credit apps submitted out of the blue, our contact rate is really low. We try to get a hold of the customer to confirm that it is them and what they are trying to buy and accomplish. Any ideas?
Amy Taggart
Hmmm...three things come to mind. First, try to make contact early in the morning or later in the afternoon, when they're more likely to not be in the middle of a workday. Second, try using text messages if you have their mobile number. Third, follow up a call with an email, if you have their email address. How long is your team trying to make contact before they set it aside? 24 hours? A couple of days?
Jim Bell
We have a 2 week press which is where the customer is touched day 1,2,3,5,7,10,14. We try different times of the day and texts if we can tell if it is a cell.

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