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Ensure the experience you’re delivering is making a lasting impression
Today, customer experience is a main differentiator and unfortunately digital prospects are not receiving the same experience as prospects walking in your dealerships front door. Digital Lead Management technology often gets overlooked, and is confused with a dealer’s customer relationship management (CRM) system. While CRM is an integral part of the overall sales cycle, lead management establishes the ground work for success. It is a targeted approach to managing the customers experience during the critical phases of the customer journey. We look at lead management holistically and then we break it down into nine stages – definition, planning, generation, capture, qualification, distribution, response, nurturing and measurement.
How does RAPID! Response fit into those nine stages?
We know dealerships have to make a lasting first impression with every lead, so our lead response management tool has been developed around that idea. Our technology captures digital leads from all sources and distributes them to sales teams’ mobile devices for immediate follow-up.
Sales staff have branded, customisable responses preloaded with valuable customer information at their fingertips. They can add text, images and videos as they respond, ensuring the business is consistently presenting fast and relevant communications to potential customers.
Why is lead response management so important?
As digital traffic continues to cultivate showroom traffic, dealerships are clamouring for every additional lead and investing heavily in complex online marketing to get even a slight uptick in their conversion rates or visit-to-lead ratios. Meanwhile, too many existing leads are falling through the cracks, which equates to a lot of wasted marketing spend, which can be avoided with proper lead response management.
How has the rise of digital media played a role in Lead Management?
According to recent studies, about 40% of global marketing expenditure will be on digital media in 2018, and that will increase to nearly 50% by 2020.
That amounts to billions of pounds spent in the digital space annually, a lot of it on lead generation. However, an alarmingly high percentage of those leads are not being responded to in a timely fashion, if at all.
Our study of hundreds of dealers across 21 franchises in the UK (see chart) showed 50% didn’t respond within 24 hours, 6% took over four hours and 19% took between an hour and four hours to get back to a customer. The remaining quarter responded within an hour.
Why are dealers’ response rates so low?
Dealerships cite a perceived low quality of leads and difficulty retrieving leads from CRM systems as one of many reasons.
Sadly, in our modern world of data and KPIs, businesses often forget there is a person behind every digital lead – and their expectations will be the same as someone in the showroom.
Why has RAPID! Response seen such a high adoption rate?
We focused intently on removing the barriers for our customers to respond to digital leads and created a tool that fits seamlessly into modern dealership processes. Sales teams can respond to leads from anywhere at any time, and management has full visibility into the lead response activity.
We aggregate leads from all sources into one central view and never look to replace, but rather to integrate with CRMs. Lastly, our dedicated dealer care teams pride themselves on providing industry-leading service and training.
In short, we have processed more than eight million leads worldwide, with an average response time of 30 minutes and, perhaps more importantly, have never had a client miss a lead.