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?

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?

We are trying to plan our first annual executive summit next month. Our dealer principal got the idea from an Entrepreneur group tthat recommended that we do it each year. It is basically a company wide retreat that is separate from any normally scheduled meetings and separate from your annual forecasting. It is done once a year somewhere off site and is supposed to be a 1-2 day retreat. The purpose of it is to define yourself as a company, set goals, and strategize for the following year so everyone from the company is on the same page.

We are doing it in about a month. I was wondering if any dealers out there do something similar and if they have seen any positve or negative results from it. If so, what was covered in the meeting and what do you recommend?

We are trying to plan our first annual executive summit next month. Our dealer principal got the idea from an Entrepreneur group tthat recommended that we do it each year. It is basically a company wide retreat that is separate from any normally scheduled meetings and separate from your annual forecasting. It is done once a year somewhere off site and is supposed to be a 1-2 day retreat. The purpose of it is to define yourself as a company, set goals, and strategize for the following year so everyone from the company is on the same page.

We are doing it in about a month. I was wondering if any dealers out there do something similar and if they have seen any positve or negative results from it. If so, what was covered in the meeting and what do you recommend?

  I have been brainstorming a lot lately on ways to rally the troops. Anybody that has worked in the car business knows that November is the start of 4 pretty slow months in a row. The guys are already starting to feel the affects of the downturn in traffic and as a result are already starting to complain. I want to try to do everything I can to help keep them motivated and to keep things somewhat interesting around here.  The only thing is that I am on a limited budget.

     We have tried Christmas at the dealership during December as a fun way to compensate and spiff the salesguys.  We would go buy like $6,000 worth of stuff (tv's, laptops, digital cameras, and basically anything else they have at Costco!)  The response that we got was always really good, but the problem we had the last time was that everyone needed the cash more than they needed the gifts, so they returned like 90% of the stuff to Costco. I'm pretty sure the guys are in the same boat this year and would rather have the money vs. the gifts. It is way too much work to go buy all that stuff and get it here to the dealership if they are going to just take it back the next week.

     With that said, we need a fun, affordable way to keep things interesting around here during the holiday season. Like I said before, we can't break the bank because the owner of the store keeps us on a budget. So we need a really good idea. Let me know what you guys have tried in the past that has been successful.  Keep in mind that the program needs to be tied to selling cars and needs to reward productivity for the guys that are pushing hard during the slow months. I don't want to just hand out free money! Let me know what you guys think.

  I have been brainstorming a lot lately on ways to rally the troops. Anybody that has worked in the car business knows that November is the start of 4 pretty slow months in a row. The guys are already starting to feel the affects of the downturn in traffic and as a result are already starting to complain. I want to try to do everything I can to help keep them motivated and to keep things somewhat interesting around here.  The only thing is that I am on a limited budget.

     We have tried Christmas at the dealership during December as a fun way to compensate and spiff the salesguys.  We would go buy like $6,000 worth of stuff (tv's, laptops, digital cameras, and basically anything else they have at Costco!)  The response that we got was always really good, but the problem we had the last time was that everyone needed the cash more than they needed the gifts, so they returned like 90% of the stuff to Costco. I'm pretty sure the guys are in the same boat this year and would rather have the money vs. the gifts. It is way too much work to go buy all that stuff and get it here to the dealership if they are going to just take it back the next week.

     With that said, we need a fun, affordable way to keep things interesting around here during the holiday season. Like I said before, we can't break the bank because the owner of the store keeps us on a budget. So we need a really good idea. Let me know what you guys have tried in the past that has been successful.  Keep in mind that the program needs to be tied to selling cars and needs to reward productivity for the guys that are pushing hard during the slow months. I don't want to just hand out free money! Let me know what you guys think.

     I recently attended a class where we brainstormed on ideas on how to acquire more cars for your used car department in an effort to become less reliant on purchasing vehicles at the auctions.

     One of the ideas that was brought up was to staff a salesperson every morning in the service drive from 7-10 a.m. The salesperson would make contacts during his shift and make appointments to get the car appraised during the day. That would give the customer the option to trade the vehicle in rather than pay for a potentially expensive repair on an older vehicle.

     I loved the idea when I first heard it. Conceptually, it sounds like a beautiful thing. My only concern would be getting all the salespeople bought-in and excited about it. They would have to get here an hour and a half earlier than they are normally scheduled and I'm guessing I wil get quite a bit of resistance from the guys. I'm hoping once they see the benefit of it and start making some car deals, they won't care any more.

     Just wondering if anyone out there works at a dealership where they have had some success doing this. Also, was it hard to get the guys committed to doing it?

     I recently attended a class where we brainstormed on ideas on how to acquire more cars for your used car department in an effort to become less reliant on purchasing vehicles at the auctions.

     One of the ideas that was brought up was to staff a salesperson every morning in the service drive from 7-10 a.m. The salesperson would make contacts during his shift and make appointments to get the car appraised during the day. That would give the customer the option to trade the vehicle in rather than pay for a potentially expensive repair on an older vehicle.

     I loved the idea when I first heard it. Conceptually, it sounds like a beautiful thing. My only concern would be getting all the salespeople bought-in and excited about it. They would have to get here an hour and a half earlier than they are normally scheduled and I'm guessing I wil get quite a bit of resistance from the guys. I'm hoping once they see the benefit of it and start making some car deals, they won't care any more.

     Just wondering if anyone out there works at a dealership where they have had some success doing this. Also, was it hard to get the guys committed to doing it?

We are getting ready to fill our General Sales Manager position at the dealership. We haven't had that position filled since 2008 when the bottom fell out. Like most stores, we had to consolidate positions and our GM has been doing both positions since then.

We feel like our GSM pay plan might be out of date a bit so I thought I would see what other stores are paying that position and what the pay plan structure is. The more specific you could be the better. Meaning, what are the guarentees/salaries paid? Do you pay a percentage of the gross front and back? Do you pay a percentage of the selling gross? Does it include the fleet department gross?

Any feeback would be extremely helpful. Thanks for your input....

We are getting ready to fill our General Sales Manager position at the dealership. We haven't had that position filled since 2008 when the bottom fell out. Like most stores, we had to consolidate positions and our GM has been doing both positions since then.

We feel like our GSM pay plan might be out of date a bit so I thought I would see what other stores are paying that position and what the pay plan structure is. The more specific you could be the better. Meaning, what are the guarentees/salaries paid? Do you pay a percentage of the gross front and back? Do you pay a percentage of the selling gross? Does it include the fleet department gross?

Any feeback would be extremely helpful. Thanks for your input....