10 Internet Department Metrics You Need to Manage

22
10 Internet Department Metrics You Need to Manage Brad Hampton Marketing Manager KPA Internet Marketing

description

An internet department can be a well-oiled machine, or a clunker ready for the scrap yard. Learn what metrics you need to manage from department down to the individual sales in order to get the most profit out of your Internet Department or BDC. Most internet departments run between 40%-50% efficiency. Imagine if you could increase sales by 10, 20, or 30 units without buying any more leads. There are industry benchmarks for every step of the internet lead life cycle. If you are managing the wrong metrics for success, than you may be leaving money on the table. In this webinar, Brad Hampton will show you how the top dealer groups in the country are measuring internet department success. He will reveal the top metrics that the OEM is looking at, and the ones your competitor doesn’t want you to know. If you hold your staff to the metrics in this webinar, you can increase the efficiency and sales of your Internet Department immediately. There is no magic wand, but there is quantifiable, actionable data that you should be looking at on a daily, weekly, monthly, quarterly, and yearly basis. Join us for this webinar and stop letting good customers fall through the cracks.

Transcript of 10 Internet Department Metrics You Need to Manage

Page 1: 10 Internet Department Metrics You Need to Manage

10 Internet Department Metrics

You Need to Manage

Brad Hampton

Marketing Manager

KPA Internet Marketing

Page 2: 10 Internet Department Metrics You Need to Manage

Brad Hampton

Marketing Manager

KPA

Previous:

Digital Marketing Manager

7 Dealerships

CRM, Websites, Lead

Providers, Sales Training

Page 3: 10 Internet Department Metrics You Need to Manage

Data Action

Data Overload

Data is everywhere

Use scalable data

Page 4: 10 Internet Department Metrics You Need to Manage

Keep your data clean

Control your data

Route your data

Clean your data

Scrub Internet Leads

Track / Route Phone

Source Walk-In’s

TRAINING

Page 5: 10 Internet Department Metrics You Need to Manage

1. Track Total REAL leads

Name: Peyton Manning

Lead Source: Dealix

Vehicle of Interest: (blank)

LEADS

OR

OPPORTUNITIES

Page 6: 10 Internet Department Metrics You Need to Manage

2. Contact Ratios

What defines a Contacted Lead?

Benchmark: 75%+ Contacted

2 Way Communication

Page 7: 10 Internet Department Metrics You Need to Manage

Why is my contact ratio low?

Messaging Response Times

Lead Providers Website Problems

CRM Follow Up

Page 8: 10 Internet Department Metrics You Need to Manage

3. Response Times

Benchmark: 30 min or less

Page 9: 10 Internet Department Metrics You Need to Manage

Increasing your response time

• CRM Escalation

• 15, 30, 60

Still no contact?

Transfer lead to another salesperson

Page 10: 10 Internet Department Metrics You Need to Manage

4. Getting the Appointment

• Appointment to Lead Ratio

• Is this an appointment based business?

• ASK FOR IT!

• Wall of Accountability

• Follow the steps to the sale

Benchmark: 40% Appointment to Contacted Lead

Page 11: 10 Internet Department Metrics You Need to Manage

Getting the Appointment to Show Up

• Confirming Appointments • Manager Confirm: 88%

• Sales Person Confirm: 62%

• Appointment Row

• Calendar reminders

Benchmark: 80%+ Show Ratio

Page 12: 10 Internet Department Metrics You Need to Manage

5. Emails / Phone Calls per Lead

Which sales people are

bringing you down?

Benchmark:

5.4 Calls per Lead 1.5 Emails per Lead

Are my sales people

cherry picking?

Page 13: 10 Internet Department Metrics You Need to Manage

6. Total Internet Leads Sold

• What is a sold Internet deal?

• Who determines it?

• Set the standard!

• Sourcing the deal

• Self made reports may be necessary

Page 14: 10 Internet Department Metrics You Need to Manage

Sold Internet Lead Benchmarks

Benchmark: 40% Appointment Closing Ratio:

Benchmark: 25% Internet Sold vs. Total Sold:

Benchmark: 15% Closing % on Total Leads:

Benchmark: 20% Closing % on Contacted Leads:

Page 15: 10 Internet Department Metrics You Need to Manage

7. Pipeline Management

• How many customers are “stuck” in your

pipeline?

• Untouched active opportunities

Page 16: 10 Internet Department Metrics You Need to Manage

The average Internet Sales Person

90 Active Opportunities 60 Daily Tasks 5 new Internet Leads 1 Appointment 4 Phone Calls

An overwhelmed salesperson will… A. Not complete the tasks B. Fake completion of tasks C. Move the customer to Lost

Page 17: 10 Internet Department Metrics You Need to Manage

8. Store Visit to Demo %

This one should be easy right?

• Slow down the sales process

• Cannot sell the car online

Benchmark: 100%

Page 18: 10 Internet Department Metrics You Need to Manage

9. Demo to Write Up %

• Getting the customer into numbers

• Under 90%?

• Trial Close

• Follow the sales process

• Best practices

Benchmark: 90% Demo to Write Up

Page 19: 10 Internet Department Metrics You Need to Manage

10. Write Up to Sold %

Benchmark: 70% Write Up to Sold

Page 20: 10 Internet Department Metrics You Need to Manage

Example Internet Department

ABC Auto Group

Total Leads 500

Contacted Leads 375

Contacted % 75%

Appointments 150

Appt / Lead % 40%

Showed Appts 120

Show % 80%

Demos 120

Write Ups 108

Demo to Write Up % 90%

Write Up to Sold % 70%

Total Sold Internet Leads 75

Contacted Lead Closing % 20%

Page 21: 10 Internet Department Metrics You Need to Manage

Shameless Plug

KPA Professional Services

• On-site dealer training

• Internet department optimization

• Marketing budget allocation

• Reporting and Tracking

Page 22: 10 Internet Department Metrics You Need to Manage

Questions?

Brad Hampton Marketing Manager

KPA