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Leads from your own website close at a higher rate!
That is the conventional wisdom. And it is something that I agree with. Now let’s look at why – why do they close at a higher rate? Immediately, I can see one reason; they know you already. They, or someone they know, may have purchased a previous vehicle from you. Or maybe they’ve serviced with your dealership. They have developed some trust in you. They have developed at least some affinity for your store. It is only logical that you should be able to close these folks at a higher rate. This is the payoff for your hard work branding your dealership and establishing a great reputation in the market.
Now, let’s look at a different group of folks that you’ve been able to entice into visiting your website. They don’t know you from Adam. Through strong SEO or an aggressive PPC campaign, you’ve earned a click. It will still require more work to generate a lead. And that brings me to the crux of the matter – will a lead, generated in this fashion, close at anywhere near the same rate as the folks we talked about above?
It would be interesting to look some advanced analytics to track the “customer journeys”. My sense is the folks that know you already – the first group we discussed – will not only close at higher rates, they will also be much more profitable deals. They aren’t the grinders, submitting form-fill lead requests to six or ten dealers. The grinders are the folks that give the Internet such a bad name – the reason why floor staff often have a bad opinion of the web.
I’d love to hear your thoughts!