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Driving Sales With Lead Management
Customer response time has shrunken from hours and days to minutes.
For the rest of the June 2005 issue of CRM magazine please click here
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Coral Springs Auto Mall (CSAM) comprises five dealerships and features popular auto makers like Honda and Nissan. According to Michael Staniewicz, marketing director at CSAM, the Coral Springs location ranks 11th in sales on the Honda dealer list in the United States, and as the ninth Nissan dealer in the nation. But after receiving roughly 1,200 leads a month via the Internet and realizing a mere 3 percent closing ratio on its Internet leads, the auto mall needed a tune-up. CSAM's Internet-leads procedure encompassed calling customers from a list of leads it purchased only to engage in spotty follow-up initiatives, as reps weren't always available when customers called back. The auto mall was buying leads from Autobytel, and an Autobytel rep recommended to Staniewicz that he consider Web Control, an Internet-based lead management application that tracks and improves communication between a dealership and its prospects and customers. The tool's Internet sales management module manages Internet leads and monitors the performance of lead providers, can create more than 50 reports to analyze lead sources, can measure salesperson performance and track ROI, and can manage complete customer histories, enabling the sales teams to craft targeted, personalized email campaigns. Leads can also be forwarded to pagers or cell phones to allow for quicker response times. In fact, CSAM's customer response time has shrunken from hours and days to minutes. CSAM saw its closing ratio from Internet leads increase five-fold to 15 percent the first month of using the tool, and in March it experienced a 14 percent closing ratio from approximately 1,000 leads. According to Dan Vogel, vice president and general manager at AVV, a subsidiary of Autobytel, average gross profit for new-car transactions is $1,500, which translates into $210,000 in gross profit generated through the Internet at a 14 percent closing ratio--a $150,000 increase in gross profit if the closing ratio was 3 percent.
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