Lead Conversion Rate

Joe Tanzola
What is the standard % for lead conversions in the industry?
Randy Smith
Great topic here... can't wait to hear the responses.
Taylan Yu
Goal is 20% for us
Evan Brown
10% is good benchmark for overall leads within 60 days, however I always break things down between the different lead sources, 3rd party, website etc. Your site may close at a 10-15% and 3rd party may close at 5-10%. Taylan is right on track though, set the bar high!
Jason Stum
I agree with Evan that 10% is a great starting benchmark. Most of our stores are in the 10% - 17% range overall. 15% is our new goal and once we constantly nail that group wide, the bar will be raised once again. On a semi-related note, http://www.weareautomotive.com/ is a fun webpage that has up-to-date market statistics covering a lot of different aspects of dealership data. However avg lead conversion rate isn't one of them. Still worth checking out tho.
Craig Waikem
I agree with Evan too. We give the lead 60 days to close to give credit to that source. Dealer Website leads 15-20% Factory Leads 10-15% other 3rd party leads 5-10%. And what's even more important than closing % is what percentage of the leads are you getting to the showroom. For every 100 leads, our goal is to get 25% into the showroom. 25% lead to show.

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