CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
Hello, again! Welcome back! In my previous post, I defined Interactive Lead Capture and provided a great example of it. In Part II of this 3-part series on Interactive Lead Capture, I’m going to go over very specific reasons why Interactive Lead Capture works, and why it’s so incredibly beneficial… especially in this day and age.
Before I move forward, let’s briefly go over last week’s post, shall we? To recap, Interactive Lead Capture is the process of collecting leads through an interactive platform that allows consumers to engage with your brand, and brands to engage with consumers. Consumers are often more inclined to relinquish certain information to these platforms because it often means they receive something in return — like a trade appraisal, trade-in offer or a piece of premium content.
Anyway, back to why interactive lead capture works….
Although I briefly mentioned an exchange of information, I didn’t go into detail as to why this information was extremely important. The reason why this type of car dealership lead generation is useful is because you’re able to ask consumers specific questions that allow you to better serve them in the future. You’re not just asking for their name or contact information, but rather, you’re asking for information regarding their current scenario… and if you’re a seasoned veteran of the auto industry, you know that no one scenario is exactly alike. Consumers always have different wants and needs based on a number of factors like: family size, financial status, location, preferred OEM, and so on.
Each situation is going to be different; so the more you know about your consumers ahead of time, the better. Instead of consumers having to repeat themselves or divulge on what they’re looking for (when they come into your store), you can draw conclusions based on the information they already provided. This cuts out a lot of unnecessary chatter and allows your dealers to work faster at getting sale. If you already have an idea of what they want (based on the information provided), you can offer viable suggestions.
“But Russ, what you’re describing is something I already do? I don’t have a tool, but I have a form on my front page! How is that special?”
Well, for starters, the form you likely have on your front page is a “static form” — which doesn’t ask for anything specific (no drop-downs, no multi-select, etc.), but rather, leaves a blank space for you to fill out your information. That’s nice and all, but interactive lead capture allows dealers to take control over the exchange.
Instead of leaving it up to the consumer to provide information that may or may not be useful (to you or the consumer, quite frankly), dealers can formulate their questions based on their current inventory and current service offerings. It makes things easier and shows the consumer what’s available without directly telling them what’s available. And yes, when I say “formulate their questions” I mean that, depending on the platform you use, YOU can have complete control over the questions that you ask consumers. Whatever information you want to obtain from your consumers can be asked in the tool provided or, if you’re awesome and ambitious, the tool that you create!
So, to give you a really concrete understanding of what a successful interactive lead capture scenario would look like, here’s an example:
Let’s say you have a mother of 2 visit your dealership. She’s currently a stay-at-home mom, and therefore, on a bit of a tighter budget. Because of this, she wants to get the most out of her trade-in. If she provides you with the make, model and condition of her vehicle, as well as her desired vehicle during her trade appraisal, you can reach out to her after you’ve received her info and provide suggestions based on the info provided. The interactive lead capture form (or the trade appraisal rather) was what piqued her interest; but it was the follow-up conversation between you and her that made the entire experience worthwhile. And really, that’s what interactive lead capture is all about!
Now, you might be worried that consumers will lose interest with these somewhat lengthier form-fills. It’s a completely valid concern, after all. On average, however, 70% of customers actually do go to complete the whole experience. This can likely be credited to the participatory nature of the experience and the sharing of two-way value between the dealers and consumer.
Of course, even if consumers do lose interest, many platforms allow you to make use of multi-stage conversion. With multi-stage conversion, can retain bits and pieces of information that were submitted in previous steps of the form. So even if consumers don’t go through the entire interactive experience, you can still capture some information, and make use of it in future initiatives.
Stay tuned next week for the final installment of our interactive lead capture series.