don crawford – customer abandonment
TRANSCRIPT
Leadoff-Leads Customer AbandonmentOr how baseball can change the way you look at your internet department
Don Crawford
A new look at the auto industry A new look at baseball
• Stolen bases, runs batted in, and batting
average are relics of a 19th century view
• Rigorous statistical analysis has
demonstrated that on-base percentage and
slugging percentage are better indicators
of offensive success
A new look at the auto industry
Stopping the clock, appointments, and
close rates are relics of yesterday
Rigorous statistical analysis has demonstrated
that engagement and customer
abandonment are better indicators of sustainable
success today
vs Slugging Percentage
“ In order to buy wins, you need to buy runs” Sabermetrics
{ Appointments and Deals }
{ Engagements }
Engagements vs AppointmentsLead Performance
Valid Engage %3,739,311 1,903,035 51
After 45,000,000 leads worked AVA has determined a direct correlation between lead scoring and engagement as a better indicator than appointments and sales to success.
1,012,655 number of appointments 53% avg.
41% vs 14% of appointments
Name Total Dupe Und. Worked Engaged %Eng. Appt. Feedback Revenue Sold Closing Rate
Big Name 81 0 2 79 55 69.6% 33 14 $241,053.05 13 16.50%
Big Name 311 4 23 284 93 32.7% 40 13 $353,635.92 16 5.60%
Lead ScoringName
Total
Dupe
Und.
Worked
Engaged
%Eng.▼
Appt.
Feedback
Revenue
Sold
Closing
Rate
Honda 1 0 0 1 1 100.0% 1 0 $0.00 0 0.0%
Honda Certified Google
1 0 0 1 1 100.0% 0 0 $0.00 0 0.0%
Honda Mobile Site
BAP4 0 1 3 3 100.0% 1 1 $0.00 0 0.0%
Jazel - ePrice Form
2 0 0 2 2 100.0% 1 1$18,312.
501 50.0%
Newsletter 1 0 0 1 1 100.0% 1 0 $0.00 0 0.0%
Honda 29 0 1 28 27 96.4% 16 6$74,303.
083 10.7%
Jazel - ScheduleTestDrive Form
6 0 0 6 5 83.3% 2 0$14,640.
931 16.7%
Increase sales by sorting leadsWasted time processing duplicates, un-responses and un-deliverables
Leads that will engage Leads that will not
1. Don’t use auto-responders
2. Do send a simple email to see if there is intent
3. Do not assume every lead has intent
Having salespeople chase unresponsive leads wastes time, energy and turns salespersons negative.
Now that we have the leads sorted, don’t
just leave them hanging
In our rush to stop-the-clock, the customers were forgotten
AVA after-48-hours poll:
“Did your salesperson contact you about the information you requested”?
27% of clients said “No” Over 273,000 leads
The average close rate is 8.4%
@ negative feedback 10-20%
vs.
6.6% @ 20-30% negative
feedback
2.8% @ 40% and above
Customer Abandonment
Average dealer was 27%
What went wrong: No prioritization
• 100% time was spent working 51% of all leads
There was no Lead Engagement Prioritization
• How do you get your staff to focus only on the 51% who want to engage with you, those with intent?
• You figure out which leads have interest and which ones have intent.
Interest Intentdoes not alwaysconvert to
Work issues
Busy with family
Check with my bank
Can I afford this?
Kids have the computer
I think I will keep my old car!
I will wait for the “sale”
I hate my old car
Research
Nurture your lead from interest to intent
Your sales personArtificial Intelligence
79% of marketing leads never convert into sales
• Lack of lead nurturing is the common cause of this poor performance
• Sales people must be redirected to only focus on the right leads
Don’t look for the needle-in-the-haystack.
Let it reveal itself
How do you measure Customer Abandonment today?
Now, let’s talk about spam…
“80% of email delivery problems are directly attributable to a poor sender reputation."
DMA "Email Deliverability
Review" (2012)
Think email is easy?
1 out of 5 emails never make it…
Only 60-83% CRMs emails are getting through…
How can you fix it?
So, what is
250 leads and beyond!
Super Salesperson
Human
• 2% of sales are made on the first contact• 3% of sales are made on the second contact
Super Salesperson
• 5% of sales are made on the third contact• 10% of sales are made on the fourth contact• 80% of sales are made on the fifth to
twelfth contact
The Internet Salesperson vs. Super Salesperson
BUY MORE LEADS
LOWER CUSTOMER
ABANDONMENT
SORT YOUR LEADS
HUMANS
