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From the second a customer walks out of your dealership without buying, an invisible clock starts ticking. This clock is tracking valuable time that is being stolen from your sales team. To prevent this, you have to know the clock exists and how to stop it.
Dealers are very concerned about what customers say about their purchase experience. But the question that should be getting asked is “Why are your customers walking without buying.” The clock is counting the minutes before your unsold customers buy elsewhere.
It is so important that your dealership make a concerted and structured effort to reach unsolds. When you do, the process is to ask the kind of questions that will reveal the true reasons they walked. Knowing that, you can address the real reason for not buying instead of the false excuses that most customers give when they leave.
You don’t have much time in which to do this. While some research stretches this time out to 30 days, many dealers admit the window of time may be less than two hours! Certainly, you need to reach and re-contact unsolds within 48 hours. When you do, here’s what experience tells us happens:
By beating the clock, you can convert these “second-chance” opportunities into a number of additional monthly retail units – up to 50 incremental sales a month, depending on the dealership.
Critical focus on unsold intervention time is paramount if your dealership wishes to increase its monthly sales without having to increase your total number of ups every month. One challenge to accomplishing this is time itself – who has the time or resources to call each of the shoppers that make up a typical dealership’s 80% unsold showroom traffic? This means you:
Regardless, the ROI is achievable and doable. If your dealership has limited resources available to manage the ticking clock, consider using an outsourced call center to make these important calls.
With the right techniques properly executed, your dealership can beat the clock that’s stealing your business, and save many of those lost deals that are currently going to your competitors.