You pay good money for the leads you purchase. It does not matter if they come from direct mail, the Internet, television, radio, newspaper, or any other source. Unfortunately, most of the leads many dealerships receive get worked once and then tossed in a pile, never to be touched again, whether it is just one lead or 100 leads .I hope this is not the case at your store, but if it is, you need to read on.
This process is the one taken by David Basha, the owner of Carriage Nissan and Carriage Mitsubishi in Gainesville, GA. It is the most comprehensive and thorough working of leads I have found after 20 years in the industry.
Day 1 – The lead is sent directly to the appointment setter, either a salesman or the BDC. They immediately call the prospect to make the first attempt at setting an in-store appointment. We all know that you do not get through to 100% of the leads on the first attempt. The lead does not go into the “dead” file until personal contact is made and disposition (interested or not interested) can be made.
Knowing that hot leads must be contacted immediately, his team sends the first letter the same day. This letter acknowledges the prospect’s information has been received and this dealership seriously wants their business. It covers the basics of financing options and inventory selection.
Day 7 – If an in-store appointment has not been set and kept, letter #2 is sent out. This letter covers the reasons the dealership and the prospect may not have been able to get together yet and offers new and compelling reasons to call for an appointment today.
Day 14 – Most dealerships have long forgotten about this lead by now, and most prospects have started shopping elsewhere. But not David, because he and his team are just getting started working these leads. It is time for letter #3, which reminds the prospect that Carriage wants their business and even has a special gift waiting for them at the dealership. Not relying on just a gift, the letter also reminds the prospect why Carriage is the right dealership to help with their credit situation.
Day 30 – Letter #4 goes out on this day with an urgent message that now is the time to make that purchase. Special financing options and new inventory selection are discussed.
Day 60 – It is time for letter #5 to hit the mail. This letter offers a free oil change while the prospect is weighing the opportunity to explore options for replacing that vehicle.
Day 90 – You guessed it; it is time for letter #6. Fear of rejection is the main reason why people ignore offers of help for this long. In this letter, the dealership explains how easy the credit interview appointment is in an attempt to remove that fear.
Day 120 – Letter #7 offers the prospect automotive financing and the opportunity to get a nationally accepted credit card. The dealership again stresses that they want the prospect’s business and are willing to work for it.
Now that is how to work every lead to the fullest extent! At the end of each month, they take one more shot at the leads that they weren’t able to reach. In one month, that stack included 180 leads. From that she was able to set 20 additional appointments. If half of those 20 people keep their appointment and Carriage can deliver vehicles to half of those that keep their appointment, they will deliver 5 additional cars.
It’s time to stop allowing your leads to become orphans. Go for it and make more money.