Close Rate for SEM Leads

Josh Damm
We're analyzing our close rate on SEM leads and are wondering what a good close ratio is for these. Close rate for the store is around 17% but our SEM leads are closing quite a bit lower. Our current trackable ROI on SEM spend is at about 3 to 1 but we're wondering how much work we have to do to improve to industry average on closing these leads... Any input?!
Chad Sabatka
Hi Josh. See you in a few days. Are you talking strictly internet leads or a combination of all leads including phone, internet, and showroom?
Josh Damm
Hey Chad! Excited for Vegas and to see y'all in a few days. Strictly internet leads is what we're wondering about in this case... Thanks! Josh
Grant Gooley
Hey Josh, 20% is a good conversion on iLeads in general. So kudos on the 17%. We have never separated the 2 and analyzed the closing rate on SEM alone. I must ask, what is your closing rate for SEM?
Lauren Moses
Josh, I don't think that you are alone in the internet leads being low in general. To me, too many people get on and send them in, read the emails or take that first phone call and then disconnect after that. The 17% is still a great number for just internet leads though. It also seems that the internet and phone leads can be some of the most difficult to turn over simply because they haven't gotten emotionally attached to the vehicle they are looking at yet because they haven't actually seen it and touched it. Just someone coming on the lot and actually seeing the vehicles and touching them already puts them in a more "buying" mood. Or that's what I've atleast seen from our dealership.
Craig Waikem
Interesting...I would assume it's the same as your dealer website leads. Not sure how a paid visitor compared to other visitors are any different once you have earned their trust and they have submitted a lead. We focus more on goal conversion % than SEM lead closing % bc it will increase the ROI of SEM directly.

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