Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Bryant Gibby

Bryant Gibby Used car manager

Exclusive Blog Posts

How SEO Impacts the Service Department

How SEO Impacts the Service Department

Digital marketing in the dealership often is viewed and conducted solely from a sales perspective. But the service department, often called the "backb…

What 89% of salespeople are failing to do...

What 89% of salespeople are failing to do...

  According to Dale Carnegie only 11% of salespeople ask for referrals. We all know how valuable referrals are but when it comes time to ask for a …

Why Your Online Shoppers Don’t Take the Bait

Why Your Online Shoppers Don’t Take the Bait

You think you’re dangling an enticing lure in front of your customers’ eyes. You plan to set the hook and reel them in. But what you don&rs…

Click-to-Call [Infographic]

Click-to-Call [Infographic]

  Most dealers understand the importance of making it easy for customers and prospects to find contact information. Websites often have prominent &…

Quick Tips for Improving Dealership Culture

Quick Tips for Improving Dealership Culture

Car dealers have a terrible reputation. It's such a negative experience for so many that people are electing to make a major purchase like a vehicle fr…

Internet closing percentages

We have been making some changes to our internet process lately. We are evaluating our closing percentages to make sure we are capturing enough deals during each phase of the buying cycle. We do a really good job tracking accurate data, so I feel like our closing percentages are close to accurate.

 

     The problem that we are having is that it has been 5 years since we have done a complete overhaul of our internet process. We feel like the data for national averages that we collected back in 2006 is potentially less accurate than it once was.  Here are the #'s that we have according to Polk reports:

 

  • 56% of new vehicle leads will purchase a new vehicle
  • 42% will purchase a vehicle in less than 30 days
  • 16% will buy between 31-60 days
  • 10% will buy between 61-90 days
  • 32 % will buy in 91 days or more

 

     I was hoping you guys could clarify to see if those closing percentages are still accurate.  Also, I had a few more questions:

 

    At what point in the buying cycle to they eventually switch interest to a used vehicle?

    What % of the leads actually buy the same make/model that they inquired about?

    Do you guys offer any giveaways at any point of the internet process to entice them to make a decision sooner?

 Unlock all of the community & features  Join Now