Inventory leads? Finance leads? Internet leads?

How about all of the above?

Sitting here writing in my office in Richmond, it never occurred to me that there might be some confusion around that term. I should have gotten a clue when DrivingSales.com eliminated the "Third Party Leads" category from their product listings and moved us under "Used Car Advertising".

That is not what we do, and I don't think anyone would know to look for our finance leads there. We might get lucky if they search for "Carloan.com" here, if they know us already and think to do that.

Try this yourselves - do a Google search for "third party leads" and see what comes up.

Surprisingly, most of the results on page one have to do with third party leads for the automotive industry. Not surprisingly, none of the PPC ads in my results had the whole string "third party leads" included. (Check out the Google Adwords Keyword Tool to find out why.)

It did, however, point me to this DealerRefresh transcription of an NADA 2010 panel called "Perfecting the Lead Mix for Your Dealership" that discussed the menu of lead choices available today and the different types of sales styles and follow up processes required for each.

Great read, by the way.

In this case, if you look closely, the "independent internet lead" - as the Dealix rep prefers to call them - refers mainly to inventory leads as far as I can tell. Those are very different from finance leads, where for the most part the consumer has not decided on a particular make and model.

I'll take a closer look at the differences in the next post. In the meantime, comment and let me know - what does the term "third party leads" mean to you?

Inventory leads? Finance leads? Internet leads?

How about all of the above?

Sitting here writing in my office in Richmond, it never occurred to me that there might be some confusion around that term. I should have gotten a clue when DrivingSales.com eliminated the "Third Party Leads" category from their product listings and moved us under "Used Car Advertising".

That is not what we do, and I don't think anyone would know to look for our finance leads there. We might get lucky if they search for "Carloan.com" here, if they know us already and think to do that.

Try this yourselves - do a Google search for "third party leads" and see what comes up.

Surprisingly, most of the results on page one have to do with third party leads for the automotive industry. Not surprisingly, none of the PPC ads in my results had the whole string "third party leads" included. (Check out the Google Adwords Keyword Tool to find out why.)

It did, however, point me to this DealerRefresh transcription of an NADA 2010 panel called "Perfecting the Lead Mix for Your Dealership" that discussed the menu of lead choices available today and the different types of sales styles and follow up processes required for each.

Great read, by the way.

In this case, if you look closely, the "independent internet lead" - as the Dealix rep prefers to call them - refers mainly to inventory leads as far as I can tell. Those are very different from finance leads, where for the most part the consumer has not decided on a particular make and model.

I'll take a closer look at the differences in the next post. In the meantime, comment and let me know - what does the term "third party leads" mean to you?

TGIF! I wanted to touch briefly on the Facebook madness (literally mad) that has transpired these past couple of weeks.

Facebook is making some changes and people, surprise surprise, don't like it. The outcome of this will be that like most other changes Facebook has made- most complain, eventually get over it, and ultimately learn to love it.

But than again, Google+ wasn't around in the past, and now it's open to everyone. Basically 'Facebookers' now have the option to go elsewhere. But will they?

Quite frankly if they are not accepting of changes within a channel they are very familiar with, such as Facebook, it will be harder to adapt to something completely new like Google + so my take on it is that most will stick to Facebook for now, but perhaps acquire a Google+ account, just in case.

Why the fight against change? Well most users are students and/or in the 18-35 age range and use it for leisure. They want it to be as simple as possible and more options means something new they have to learn. They didn't sign up for this! They prefer the experience remain simple.

Why not Google+? Well Google+ is more technical and right now a large percentage of it's users are engineers or developers. Having a large group of people who do not like change, even one as simple as changing a news feed, transfer to an entirely new way of socializing is not going to happen overnight.

So for now my dear 'Facebookers' you have two options: Get with it or get something else.

Are you excited or upset about these changes? Have they affected your business at all? Share your thoughts below.

TGIF! I wanted to touch briefly on the Facebook madness (literally mad) that has transpired these past couple of weeks.

Facebook is making some changes and people, surprise surprise, don't like it. The outcome of this will be that like most other changes Facebook has made- most complain, eventually get over it, and ultimately learn to love it.

But than again, Google+ wasn't around in the past, and now it's open to everyone. Basically 'Facebookers' now have the option to go elsewhere. But will they?

Quite frankly if they are not accepting of changes within a channel they are very familiar with, such as Facebook, it will be harder to adapt to something completely new like Google + so my take on it is that most will stick to Facebook for now, but perhaps acquire a Google+ account, just in case.

Why the fight against change? Well most users are students and/or in the 18-35 age range and use it for leisure. They want it to be as simple as possible and more options means something new they have to learn. They didn't sign up for this! They prefer the experience remain simple.

Why not Google+? Well Google+ is more technical and right now a large percentage of it's users are engineers or developers. Having a large group of people who do not like change, even one as simple as changing a news feed, transfer to an entirely new way of socializing is not going to happen overnight.

So for now my dear 'Facebookers' you have two options: Get with it or get something else.

Are you excited or upset about these changes? Have they affected your business at all? Share your thoughts below.

It's a given that auto dealers have to spend money to make money. What's become clearer in recent years - as the effects of those dollars have become more and more traceable - is that there are some marketing channels that are more effective than others.

You'll still find the die-hards who are convinced that they have to do print and television advertising at a minimum, regardless of whether they produce quantifiable results.  And unless the dealer is asking absolutely every warm body that wanders onto the lot how they heard about the dealership, he's going to attribute the lion's share of those ups to the intangible brand awareness generated by those ever-present ads.

These days, savvy dealers augment those warm bodies in any way they can:

• SEO for the dealership website (another given)
• direct mail partnerships with local banks
• targeted email campaigns to former customers
• leads from their OEM
• 3rd party leads

and just about anything else they can think of, short of dialing for dollars through the phone book.

(Though I'm sure there are some who considered that last one as a real possibility when things were really bad a while back.)

That's all well and good, but unless there's a process in place for turning the interest generated by all that activity into sales, you might as well open up the nearest window and chuck your money out.  It doesn't matter where the prospect comes from – if they don’t hear from you in a timely fashion after they’ve raised their hand, you’ve just wasted the money you spent on the channel they came in from.

If you’ve got a marketing program that isn’t working the way you expect, get that vendor on the phone to talk it through. But before you do that, take a look around your store to see what your team is doing with those prospects. We've covered the top 5 best practices for follow up, but here’s a refresher:

1. Make contact quickly
2. Sell the appointment
3. Don’t prequalify
4. Work your process
5. Be consistent

You may have identified your own, based on what works for your store. But if you’re missing one of these, you’re not getting the most you can out of what you’re paying for.

What do you do to ensure that your sales team isn't losing money for you?

It's a given that auto dealers have to spend money to make money. What's become clearer in recent years - as the effects of those dollars have become more and more traceable - is that there are some marketing channels that are more effective than others.

You'll still find the die-hards who are convinced that they have to do print and television advertising at a minimum, regardless of whether they produce quantifiable results.  And unless the dealer is asking absolutely every warm body that wanders onto the lot how they heard about the dealership, he's going to attribute the lion's share of those ups to the intangible brand awareness generated by those ever-present ads.

These days, savvy dealers augment those warm bodies in any way they can:

• SEO for the dealership website (another given)
• direct mail partnerships with local banks
• targeted email campaigns to former customers
• leads from their OEM
• 3rd party leads

and just about anything else they can think of, short of dialing for dollars through the phone book.

(Though I'm sure there are some who considered that last one as a real possibility when things were really bad a while back.)

That's all well and good, but unless there's a process in place for turning the interest generated by all that activity into sales, you might as well open up the nearest window and chuck your money out.  It doesn't matter where the prospect comes from – if they don’t hear from you in a timely fashion after they’ve raised their hand, you’ve just wasted the money you spent on the channel they came in from.

If you’ve got a marketing program that isn’t working the way you expect, get that vendor on the phone to talk it through. But before you do that, take a look around your store to see what your team is doing with those prospects. We've covered the top 5 best practices for follow up, but here’s a refresher:

1. Make contact quickly
2. Sell the appointment
3. Don’t prequalify
4. Work your process
5. Be consistent

You may have identified your own, based on what works for your store. But if you’re missing one of these, you’re not getting the most you can out of what you’re paying for.

What do you do to ensure that your sales team isn't losing money for you?

It's a given!

Every dealer should have a website or some type of online presence. If I am looking for a car, the first place I am going to look is online. I am going to research the car I want first, than see which dealer in my area has that car, and then check out their website to see their inventory.

Don’t have a website? Is the inventory at least listed somewhere? No? Well OK than, you just lost me as a prospect.

An online presence not only lets prospects know you exist and what you can offer, it also gives you credibility. A website isn't the only way to have presence either. You can also try:

• * Facebook
• * Car inventory site
• * Youtube

Everyone is online now. We shop online, we socialize online, we get our news online, and some of us even work online. Posting your inventory in the Sunday paper is so 90’s to me.  I, personally, only buy the Sunday paper for the coupons, the “funnies,” and the crosswords. And besides, ultimately it’s cheaper to post online and easier to track your ROI.

So do you have presence? If not, I’d love to hear why not!

It's a given!

Every dealer should have a website or some type of online presence. If I am looking for a car, the first place I am going to look is online. I am going to research the car I want first, than see which dealer in my area has that car, and then check out their website to see their inventory.

Don’t have a website? Is the inventory at least listed somewhere? No? Well OK than, you just lost me as a prospect.

An online presence not only lets prospects know you exist and what you can offer, it also gives you credibility. A website isn't the only way to have presence either. You can also try:

• * Facebook
• * Car inventory site
• * Youtube

Everyone is online now. We shop online, we socialize online, we get our news online, and some of us even work online. Posting your inventory in the Sunday paper is so 90’s to me.  I, personally, only buy the Sunday paper for the coupons, the “funnies,” and the crosswords. And besides, ultimately it’s cheaper to post online and easier to track your ROI.

So do you have presence? If not, I’d love to hear why not!

Call me old fashioned... but I still prefer hearing a voice as opposed to reading text.

I read an article called Nissan: Facebook may replace phone banks.  The article basically touched on how, although any changes have been proposed, Nissan could start shifting some of its employees from the call centers to the web. This trend is not just being picked up by Nissan but by other companies as well.

I think it is a great idea… as long as it’s in correlation with being able to call in and speak to a live person. For some situations I think Facebook and Twitter are good places to post comments and grievances such as:

• - Not all customer service calls are bad (although most people only call customer service with complaints) If I truly enjoyed your service I may tweet about it or post a comment to your Facebook wall to let you and all of your fans know how impressed I was and about my experience.
• - I am very angry. Your call center hasn't helped, I have been on hold for about 30 minutes, and you keep connecting me to different people. Now I want to take it to Facebook so that I can complain about the poor phone service. This may entice you to tighten up your call centers.
• - I need to vent. I had a horrible experience at your store or on the phone with you or while using your website. I want to address it in a way that others who may feel the same way can read about it and possibly share their thoughts.

Now on the flip side, there are certain situations where I would want to speak directly to a person right away! Some personal examples include:

• - My credit card was stolen! I want to speak directly to a representative so that they can not only cancel my card but fill me in on any transactions and what my next steps are.
• - My phone isn't working! I need technical support ASAP and I want to speak to a live person because I am not tech savvy and need to be walked through the process so that I can ask questions as I go.

Because dealerships now have an increased presence in social media outlets I think it is great that their customers/prospects want to interact with them online but they should also have the option to interact on a personal/private channel as well, such as in person or on the phone.

Can you suggest any other instances where you would prefer to speak with someone over texts, web chatting, tweeting, or posting on Facebook? Share your suggestions below!

Call me old fashioned... but I still prefer hearing a voice as opposed to reading text.

I read an article called Nissan: Facebook may replace phone banks.  The article basically touched on how, although any changes have been proposed, Nissan could start shifting some of its employees from the call centers to the web. This trend is not just being picked up by Nissan but by other companies as well.

I think it is a great idea… as long as it’s in correlation with being able to call in and speak to a live person. For some situations I think Facebook and Twitter are good places to post comments and grievances such as:

• - Not all customer service calls are bad (although most people only call customer service with complaints) If I truly enjoyed your service I may tweet about it or post a comment to your Facebook wall to let you and all of your fans know how impressed I was and about my experience.
• - I am very angry. Your call center hasn't helped, I have been on hold for about 30 minutes, and you keep connecting me to different people. Now I want to take it to Facebook so that I can complain about the poor phone service. This may entice you to tighten up your call centers.
• - I need to vent. I had a horrible experience at your store or on the phone with you or while using your website. I want to address it in a way that others who may feel the same way can read about it and possibly share their thoughts.

Now on the flip side, there are certain situations where I would want to speak directly to a person right away! Some personal examples include:

• - My credit card was stolen! I want to speak directly to a representative so that they can not only cancel my card but fill me in on any transactions and what my next steps are.
• - My phone isn't working! I need technical support ASAP and I want to speak to a live person because I am not tech savvy and need to be walked through the process so that I can ask questions as I go.

Because dealerships now have an increased presence in social media outlets I think it is great that their customers/prospects want to interact with them online but they should also have the option to interact on a personal/private channel as well, such as in person or on the phone.

Can you suggest any other instances where you would prefer to speak with someone over texts, web chatting, tweeting, or posting on Facebook? Share your suggestions below!