Our data show that dealers who are practicing speed to sale close two of three used car leads. Conversion drops to one of three, where these sales advantages are not available.

By Dennis McGinn, CEO, Rapid Recon

No one yet knows the lasting impact of recent events on dealership operations. We do know that people will still need reliable transportation.

Highlighting one casualty already is ride-share. Consumers may increasingly desire to forego this option, again finding it safer to be moving about in their own vehicle versus one used to haul many other people throughout the day.

What also is clear is that the motivation for digital retailing has arrived. Consumers will find transacting car deals remotely across end-to-end digital retail platforms an easier, more convenient, and safer alternative to the traditional in-person meet-and-greet process.

What else is sure, is that however leads come into your dealership, they won’t respond well to poor information handling; they expect a smooth, timely sales process, which is why speed to sale is now critical to lead conversion and profitability.

A Forbes.com report, 11 Sales Skills Essential for Better Lead Conversion, offered this:

“A key sales skill to improve lead conversion is responsiveness. This is a lead, not a cold call. They, in some form, have reached out to you—be quick to respond. I immediately have an advantage over my competitors. It sounds simple, yet a timely response is often overlooked.”

Such responsiveness, driven by speed to sale, flows out of faster reconditioning, streamlined cross-department cooperation, and a tighter inventory turn policy. Sales and BDC departments using selling advantages that empower them to engage leads promptly, and knowledgeably means closing more deals.

Our data show that dealers who are practicing speed to sale close two of three used car leads. Conversion drops to one of three, where these sales advantages are not available.

By using this sales advantage, every member of your sales team will handle leads like top performers.  Top producers don’t sell – they build relationships. Their in-depth product knowledge, understanding of your inventory, quick location of test-drive vehicles (and their keys) builds trust in consumers and motivates them to buy.

Speed to sale tools give them access into your store’s vehicle acquisition and reconditioning pipelines. Whatever the source of the lead, the sales person’s glance into this pipeline serves up all the vital information they need to answer prospect questions fast, meaning no more having to risk the loss of a lead or up’s interest while salespeople put them on hold or have to call them back while they source out information to answer such questions as:

  • Can you tell me about the car –make, model, and trim levels?
  • Can you tell me about its condition or issues – what was done in recon and do you have paperwork and photos that show that?
  • Is it still available – will it be ready to show and for a test drive when I come in today?
  • Is the price negotiable – I’m interested in the car?

Speed to sale advantages are best explained by a know it, find it, and sell it sales strategy. Now, with a glance into a vehicle acquisition and reconditioning pipeline on their CRM tool or mobile device, your salespeople will engage every lead as top performers do.

They’ll have at hand the deep vehicle intelligence to answer lead questions on the spot; precise vehicle and essential location tools so there’s no fumbling at test drive time; and compelling visual presentation tools and data to build confidence and value in the cars you sell.

Tough times call for new approaches. A know it, find it and sell it strategy gives your entire sales and BDC staffs unique new tools for improving lead conversion, which is always a top goal but now more than ever.  Call me to chat about this for your dealership. Stay alert – and stay well!