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Jared Hamilton
From: Jared Hamilton
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Bryant Gibby

Bryant Gibby Used car manager

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Price quotes on internet leads

     We are considering make a couple of changes to the way we handle our internet leads. First I will explain a little bit about what we have done with our leads in the past vs. now and explain our logic.

 

     When we got a lead in the past, we would make an attempt to call the customer and set an appointment first. If we failed to make contact over the phone with the customer, we would then send out a price quote with 2 quotes on a new vehicle and 1 quote on a used vehicle the same day we got the lead.

 

     For the last 2 years or so, we have done the exact same process with the exception that we switched to sending the 3 price quotes after 5 days. The reason why we made the switch is because we partnered with a company called Travor and they recommended doing the quotes after 5 days to give us some time to build rapport with the customer and identify what they were actually looking for.

 

     We have averaged an 11% closing percentage on our internet leads this year but we have a goal at 15%. We feel like we are losing some deals by not doing a price quote up front but that is purely speculation. Also, we haven't closed our leads from Ford at a very high % lately. We feel like if we make the switch back to sending the quote the first day, that we will be able to push that percentage closer to where we want to be. Any thoughts???

Craig Waikem
We do a quote response the first day. I think if you get a quote to the customer ASAP, and the are happy with the price you may prevent them from shopping elsewhere. In addition to the phone call followup, you should send them a text. We use Google Voice to text. This has been effective. We call up to 3x the first day and send one text. But, back to providing a quote the first day, almost everybody else is going to. Especially dealers signing up for ResponseLogix (now co-op approved by many manufacturers). It is still important to build rapport. Your quote back should include links with microsites about your dealership (www.whywaikem.com) and it should also ask questions (Do you have a trade? Have you driven the vehicle? Are you a local resident? Do you know about the new car tax savings?) so you can get a response to build rapport. -Craig W
Jeffrey Taylor
One of the keys to successful online marketing is delivering what the customer asks for. If the prospect filled a "New Car Price Quote Form", then that is what they expect to see in their email box. They did not fill out a "lets build a rapport for 5 days then send me a price quote form". Send the price quote and then continue to build a rapport by staying in contact, answering questions, finding out what they really need, and making them feel comfortable dealing with YOU. Remember, the customer is in control at this stage, because they are at home and can easily blow you off if you are pushy, don't give them the info they seek, or they just plain don't like you! It is no different than Google delivering results based on keyword phrases searchers type in. If Google doesn't deliver results based on what the searcher wants, Google goes out of business. If a customer wants a price quote give it to him. They are in the research and shopping phase. But they are not only looking for a car, they are also looking for a person to buy from once they decide what car they will purchase. DO NOT over think this process or yes, your closing ratio will go down, not up. Jeffrey Taylor
Dennis Galbraith
I don't know how in the world anyone could say it better than that Jeffrey!
Ron Henson
Leading a prospect down a path you want them to take by dragging a carrot on a string saying "Come a little further down my path of rapport building and I'll give you the carrot (price quote)" is old school. In today's world the customer knows what they want and expect it to be given to them quickly. The businesses that delay giving a customer what they are seeking, lose the business and lose market share. I agree that Jeffrey said it very well.
Jason Courter
Although you will not sell everyone who asks for a price quote you need to consider not pricing at all...refer to ZMOT, build a rapport mechanism...get rid of autoresponders and then track the sales and grosses you make on NOT GIVING THE PRICE? I know people think this is dumb but consider this...there are surveys that say the reasons a customer "defected" a certain dealership...and sometime they say the price given on the Internet was too high? Is that better than "price not given at all?" Remember, you will not sell them all...Decide a strategy and monitor the results or survey the people that dont buy from you after they submit a lead to find out WHY? I am for NO PRICE QUOTE GIVEN...I am for building relationships with en element of mystery that my price could BE BETTER THAN THE ONE WHO BARFS IT. This is Sales 101 people...If we do everything that everyone wants then we would be a non-profit. You can be transparent and show invoice or Costco (if you are the dealer) etc. But why LOCK IN? You havent even seen them face to face? If you are a 1-price store would you give the price without telling your fantastic story before they see the price? What good does it do to price it at all? Those who price in my market help ME sell more cars at higher grosses....Plus my reviews are 5 star on GOOGLE Places.

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