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?

     I have never been a huge believer in negative reinforcement. The tough thing as a manager is to figure out what actions to take when you have repeatedly told your guys what to do and they fail to listen.  So what is the best way to handle a situation like that?

     We have been trying for years to fix an ongoing problem we have had at the dealership. We ask our sales consultants to turn in a "guest trek card" every time they talk to a guest. It is a very easy thing to do, but they still struggle to stay on top of it and get all their cards turned in. There is always a million excuses as to why they weren't turned in (none of which I buy). I have tried to help them see the big picture and to understand the importance of tracking all of our customers, but they don't seem to care. I have taken half deals, but they don't seem to care. My final attempt was to put together a negative spiff program associated with turning cards in every day. As you may guess, it went over like a ton of bricks when I threatened their money.

     Unfortunately for them, I'm at the point where I don't care anymore and I don't see any other solution to the problem. I thought about a positive spiff program but I feel like I shouldn't have to pay them to do their job. But maybe there is another solution and I'm failing to come up with it.... Any thoughts?

     I have never been a huge believer in negative reinforcement. The tough thing as a manager is to figure out what actions to take when you have repeatedly told your guys what to do and they fail to listen.  So what is the best way to handle a situation like that?

     We have been trying for years to fix an ongoing problem we have had at the dealership. We ask our sales consultants to turn in a "guest trek card" every time they talk to a guest. It is a very easy thing to do, but they still struggle to stay on top of it and get all their cards turned in. There is always a million excuses as to why they weren't turned in (none of which I buy). I have tried to help them see the big picture and to understand the importance of tracking all of our customers, but they don't seem to care. I have taken half deals, but they don't seem to care. My final attempt was to put together a negative spiff program associated with turning cards in every day. As you may guess, it went over like a ton of bricks when I threatened their money.

     Unfortunately for them, I'm at the point where I don't care anymore and I don't see any other solution to the problem. I thought about a positive spiff program but I feel like I shouldn't have to pay them to do their job. But maybe there is another solution and I'm failing to come up with it.... Any thoughts?

We just got another price bump from our vendor that we pull credit through. We have been pretty happy with them, but we feel like they are starting to get a little bit on the expensive side.

We are considering switching to another company if the cost is lower. I'm not really sure if there are that many companies available. I thought I would throw a quick post to see what other companies you guys use and what kind of fees they charge you. Let me know please...

We just got another price bump from our vendor that we pull credit through. We have been pretty happy with them, but we feel like they are starting to get a little bit on the expensive side.

We are considering switching to another company if the cost is lower. I'm not really sure if there are that many companies available. I thought I would throw a quick post to see what other companies you guys use and what kind of fees they charge you. Let me know please...

     I have been hearing quite a bit lately about a website called truecar.com. I know enough about the company because of the information that I have read on their website.

     One of the features that they offer is to show an average of the previous transactions on the same unit that you are considering buying. I really like the sound of a tool like that and I am starting to think that it could have a few similarities to Vauto.  We would like to see if that data of previous transactions is accurate and how they get the information. I would also like to know where they are getting the information from. Does anybody know anything about this company above and beyond what you can read on their website?

     Also, they have a feature where dealers can sign up with them and the dealer will receive leads that will send the people to their store. Next question: Does that work? Is it worth the money for how many leads they send you? Let me know if you can shed any light on the subject please!

     I have been hearing quite a bit lately about a website called truecar.com. I know enough about the company because of the information that I have read on their website.

     One of the features that they offer is to show an average of the previous transactions on the same unit that you are considering buying. I really like the sound of a tool like that and I am starting to think that it could have a few similarities to Vauto.  We would like to see if that data of previous transactions is accurate and how they get the information. I would also like to know where they are getting the information from. Does anybody know anything about this company above and beyond what you can read on their website?

     Also, they have a feature where dealers can sign up with them and the dealer will receive leads that will send the people to their store. Next question: Does that work? Is it worth the money for how many leads they send you? Let me know if you can shed any light on the subject please!

     We have always had etch (ATP, VTR, etc) as a pre-loaded back-end product the entire 10 years that I have worked at this store.  We haven't really had any issues selling the product and usually have around an 80% penetration between new and used.

     You would think with the success that we continue to have with etch, we wouldn't consider making a change. We are though! We are having more and more customers question what it is lately and they seem to be way more educated about it.  We figured we could get ahead of the curve a little bit and replace our etch with something a little less common.

     After looking in to it for a while, we have decided that pre-paid key replacement program would be our best bet. We aren't willing to drop the etch yet though. It is still really profitable and it is too risky to give up that guaranteed back-end money. So, we have decided to test the waters for a while to see if our customers respond positively toward it.

     I decided to throw this post out there to see what other people's opinions are regarding etch. I assume most dealerships either currently offer the product or have offered it in the past. Have you guys had much success with etch? Do you still use it? If you don't use etch, what is a viable alternative? Let me know your thoughts...

     We have always had etch (ATP, VTR, etc) as a pre-loaded back-end product the entire 10 years that I have worked at this store.  We haven't really had any issues selling the product and usually have around an 80% penetration between new and used.

     You would think with the success that we continue to have with etch, we wouldn't consider making a change. We are though! We are having more and more customers question what it is lately and they seem to be way more educated about it.  We figured we could get ahead of the curve a little bit and replace our etch with something a little less common.

     After looking in to it for a while, we have decided that pre-paid key replacement program would be our best bet. We aren't willing to drop the etch yet though. It is still really profitable and it is too risky to give up that guaranteed back-end money. So, we have decided to test the waters for a while to see if our customers respond positively toward it.

     I decided to throw this post out there to see what other people's opinions are regarding etch. I assume most dealerships either currently offer the product or have offered it in the past. Have you guys had much success with etch? Do you still use it? If you don't use etch, what is a viable alternative? Let me know your thoughts...