If you do not have customers, you cannot sell cars.
Seems pretty obvious, right? It really is that simple.
What is complicated is how you get those customers. What efforts do you make to bring them in? How much do you spend? How do you know if it worked? How do you know if you maximized the value of their visit?
How do you even know how many people actually came in?
You have your CRM of course. Like any point of data, however, the information you receive from it is only as valuable as the information you put into it. The CRM requires human interaction. You must have processes in place that require the logging of every activity, then you have to trust that your people are adhering to that policy.
So you trust, but verify. How do you measure the effectiveness of your teams in entering all the necessary information? Do you audit your CRM activity regularly and compare it against your sales numbers?
If traffic is not accurately measured, you cannot accurately plan your month. Additionally, you cannot accurately measure the performance of your ad spend, inventory management, or your sales team. Measurements and business decisions should be based off accurate numbers.
How can you be sure your traffic count is correct? We have established the limitations of relying on your CRM. Today’s technology provides a much better solution. Data-rich traffic recording without the need for manual entries by your staff.
Every customer who visits your dealership has a cellphone, right? With a viable hardware solution like ABN Traffic, you get the traffic counts you need based on those devices being within a set proximity of the collection equipment. All data is anonymous and securely pushed to the cloud where algorithms sanitize the data – like removing employee devices – and provide you actionable information in the form of easily understandable foot traffic analytics.
ABN Traffic counts devices in two separate zones, inside the dealership and on the lot, so you know total visitors, tire kickers, and who came inside to really talk about a deal. New traffic and be-back traffic are recorded on your dashboard giving you unique insights into your customers’ behavior.
The possibilities for this data are limitless.
You can measure your visitor traffic against your deals to see if your salespeople are closing at, above or below the industry average of 60%. You can determine your actual close percentage to determine how many leads you need to purchase to achieve your sales goals for the month. You can measure this data against your CRM to determine the reliability and consistency of your sales team entering the additional information they need to complete future sales. You can even use it to keep your lead providers honest by measuring your actual counts against their guarantees.
You cannot sell cars if you do not have customers, and you cannot efficiently sell cars without knowing how many customers you actually have. Used correctly, this valuable data can inform every decision you make and lay the groundwork for higher grosses and improved sales performance.
