Lean Into the Three Benefits of Daily Defection Data.
Today, gaining a competitive edge means being able to react more quickly than your competition on metrics that matter. And for managers, it means delivering real-time training opportunities, ensuring you have the right people at the right time with the right message.
Daily defection data provides you with three valuable opportunities:
- It gives you the opportunity to support salespeople with near real-time feedback on what’s working and what isn’t. That ensures they are better trained and optimized for selling vehicles.
- It allows you to train your sales force on known lost opportunities, providing valuable real-world lessons to identify areas for improvement, evaluate salespeople and educate your staff daily.
- It allows your salespeople to pivot communications to relevant customer messaging, thereby nurturing relationships to encourage future business. Even better, having access to same brand defections provides the opportunity to foster repeat business through relevant service messages. A recent Urban Science analysis found that service-loyal customers are twice as likely to come back to the dealership where they regularly get their vehicles serviced, compared to purchasing at other same-brand dealerships.3
Accurate, Timely Data Matters
For your salespeople to put data to work, it must be both easy to use and timely. High-quality, in-market leads:
- Increase your sales force’s chance for sales success.
- Provide an opportunity for more revenue and effciency pursuing more valuable leads.
- Reinforce your salesperson training with real-world sales successes.
Leading dealers are continually looking for the latest technological tools to help them gain a competitive advantage. The ability to flag lost leads at the speed of conversion is technology that’s available today. In addition to providing managers with the data they need to deliver impactful training, it notifies salespeople the next day so they can better focus their resources on pursuing customers while they’re still in-market. Without being able to see daily individual lead level defection data, your sales force does not have the advantage of acting now.
Use In-Market Leads to Save Time, Save Money, and Retain More Sales Staff.
The best salespeople all have one thing in common: they’re “wired to win.” Having next-day defection data available to your salespeople allows them to win more often by:
- More meaningfully engaging with people still shopping
- Helping increase their conversion rate and — ultimately — their confidence in their ability to close a sale.
Higher interest rates are making it even more expensive for consumers who finance a new vehicle which, understandably, makes it harder for salespeople to sell. Sixty-four percent of retailers polled in an Automotive News Dealer Outlook Survey thought higher interest rates would reduce consumer new-vehicle demand.4 All the more reason to focus your salespeople on the kind of high-quality, in-market leads that drive commissions, enhance confidence and bolster the relationship between management and your sales force.
It’s time to “amp up” your training with daily defection data. It’s not only the smart way to move forward, but also helps you uncover new insights and makes your training much more actionable. Doing that may very well result in a domino effect, where your salespeople actively seek out those leads that help them get the sales they’re after while helping you pave new paths to profitability.