Moving more metal is an uphill battle for everyone these days with lingering inflation, high interest rates, and consumer uncertainty. But how many of your customers are turning away because of financial uncertainty versus a subpar online experience?
Forget everything you thought you knew about how online sales inquiries are being handled at your dealership. Our database of more than 1,000 mystery shop inquiries from across the country uncovered hidden goldmines of missed sales opportunities, surprising customer perceptions, and a BDC truth so shocking it could revolutionize your approach to online sales.
Here are three of the biggest issues impacting missed sales opportunities. Read the full report in our e-book.
Broken Technology
Everyone knows that most consumers start their buying journey online, engaging with the dealer’s website, an auto-response feature, or another form of digital communication with a member of the sales staff. Based on EFG’s data, 22 percent of inquiries received no dealership response at all! Those were sales opportunities that dealerships did not even know they missed because no one engaged with the buyer. Literally, the chance to generate revenue was missed, and the buyer moved on to a more responsive seller.
How could this happen? Most of the time it’s a simple technology fix to ensure all inquiries are funneled into your CRM for follow-up. It’s always a good idea to conduct regular checks to make sure your technology systems are talking to each other.
Automated Responses
Many dealers utilize an auto-response tool or chatbot to funnel potential buyers through the purchase process. While this tactic can successfully manage sales team workflow and batch opportunities for junior team members, the tool should be carefully managed. Mystery shoppers felt that 54 percent of autoresponder emails did not provide any helpful information or assistance in their shopping experience. Automated messaging is best utilized to set expectations on when a sales representative will be in touch with a consumer, and to establish their preferred method of communication, and to introduce the “why buy here” message.
Ungraceful Hand-Offs
Finally, an engaged customer is ready to move to a seasoned salesperson. However, a muffed hand-off can not only derail a sale but also create a stronger negative perception of the overall dealership! Based on EFG’s data, when an inquiry was handed off to another team member, 31 percent of those handoffs were handled poorly. Most often, new team members either failed to familiarize themselves with the customers’ needs or jumped into the conversation without introducing themselves or explaining that they were taking over the interaction. This left customers confused about who to speak with and frustrated with the dealership as a whole.
Customer hand-offs in the dealership tend to be well orchestrated. The current salesperson introduces the sales manager or F&I manager, explaining that they can address all the customer’s concerns. The next person builds excitement for the purchase, congratulates the customer on their selection, and dives deeper into their wants and needs. This approach to providing quality service and securing the sale needs to be replicated online for any sustainable success with online customers.
As you can see, there are simple, effective fixes to all these missed opportunities. Every instance can be mitigated through effective sales team training as well as updating dealership tools and operating procedures! The biggest thing to remember is that your online customer service must match your in-store service to ensure brand continuity and online success.
At EFG Companies, we’re experts at training all levels of sales and F&I needs. We’re more than an F&I provider, we’re your business partner in the retail automotive industry. Contact us today to learn more about how our team can help you achieve your winning strategy.