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Mike Gorun

Mike Gorun Managing Partner/CEO

Exclusive Blog Posts

Why Security Is More Important than You Think for Your Business

Why Security Is More Important than You Think for Your Business

Having a business means that you’re likely going to have to keep security in mind. Whether you are looking to increase customer trust or you want to …

Interview with Scott Pechstein: What's Up With "Digital Retail"?

Interview with Scott Pechstein: What's Up With "Digital Retail"?

Scott Pechstein, Vice President of Sales at Autobytel, Inc., talks about the buzzword of the moment: "digital retail." …

What's Keeping Your Company's Directors Up at Night?

What's Keeping Your Company's Directors Up at Night?

Although we typically define executives by their ambitions, their anxieties can be equally telling. If you’re losing sleep over handling cyber se…

Top Reasons It's Time to Breakup With Your Vendor

Top Reasons It's Time to Breakup With Your Vendor

Vendor relationships are business, and while that is not to say that relationships develop with the people you work with - at the end of the day, it is abo…

The Perennial Sales Starter Kit

The Perennial Sales Starter Kit

Outside of having some online training that I could do on my own time, a 2-Day Sales Training Course, shadowing the top Sales Consultant (at my initiative)…

"I'll Be Back" Means They Probably Won't

 

Three words that every salesperson hates to hear from a potential customer are these: “I’ll Be Back.” That’s because the average auto dealership sees 75 to 80 percent of floor traffic leave the store without purchasing a vehicle, and 40 percent of those shoppers will buy a vehicle in the next three days from a competitor.

But short of tackling your customers as they head out the door, what can you do to stop this mass defection? Offering an incentive to come back is one method that is proven to work. In a recent six-month long field test with auto dealers, a time-restricted, redeemable gift card was very effective at targeting these prospects and turning them into vehicle buyers. In fact, one Toyota dealership sold ten new Toyotas in the first 10 days on the program in which they offered a gift card for the buyer to return. And overall, dealers who offer an incentive card see 18-20% of prospects return and purchase a vehicle within 10 to 15 days.

Other ideas include following up immediately via phone and/or e-mail with a warm, personalized message. Customers want to feel appreciated and a little extra attention can go a long way.

Salespeople, what do you do when you hear those words, “I’ll Be Back?” What additional best practices have worked for you to get customers back into the dealership?

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