Lead Generation. To Buy Or Not To Buy?

Jeff Collins
I've been in a very robust debate with several GM's lately about increasing the lead count at each of our stores. As usual they seem to think that there is a "silver bullet" resolution. When I came on board I was quick to identify the many 3rd party lead providers that were being used costing the group thousands of dollars each month. I cancelled all and the lead count plummeted. Long story short fast forward 1yr. Our closing ratio group wide has increased to 16% from 8% while also increasing appt shows hence increasing sales yoy 8.5%. Spending $22 per lead is not an option. I'd like hear your solution. Merchandising? Increase Digital Spend? All of the above? Hopefully with your feedback I can demonstrate that there is no silver bullet when comes to Lead generation. Thank you in advance for any feedback on this topic. #DigitalDarwinism
mark rask
Jeff we are spending more on social....also lotlinx seems to be working for us
Parker Lukjanovs
@JeffI personally feel it's all about accountability and more importantly track ability. Which means absolutely increasing your digital spend. Rule of thumb I go by now is 80% digital 20% traditional IF you have to have traditional. Some friends of mine in other markets are doing 100% digital. You can't track TV, Radio, Newspaper that well anymore. You can do all the right steps, in-house customer "why you bought with us today," survey's, tracking numbers on billboards and newspapers, but none of these will be 100% accurate. Look at AutoTrader's report they do for dealers on traffic studies. They'll get MAYBE 30% feedback from customers. What about the other 70%? Does the 30% define how we're doing business?Increase spend where you can online whether it be PPC, SEO, AT, Cars.com, Social Media Marketing. Digital numbers don't lie and are accurate.
Megan Barto
I've found that pay-per lead providers aren't as good as leads from your own website (I'm sure many in here agree). With that being said - don't be concerned with the number of "leads" you get - as my GM once told me, you can't put leads in the bank - worry about sales, you can put them in the bank!
Michael Bilson
Jeff...Does not matter the amount of leads or the content if you never reach them or engage with them. Many dealers that use an automated ILM like Conversica are able to double their lead count and engagement without adding additional staff. Now that is a great ROI. :]
Megan Barto
Great points, Michael - what's that percentage of internet leads that never get touched?

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