scott pechstein "how to sell used cars to your new car leads"
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How to Sell Used Cars To Your New Car LeadsScott Pechstein
National Director of SalesAutobytel Inc.
Pg. 40
Polk Data Results
Internet Sales 20 Group, Dallas TX
Who is Autobytel
Founded by veteran car dealer in 1995
Over 4 million Consumer Leads were delivered in 2012
Over 3,800 Direct Dealer Relationships
Autobytel accounted for nearly 4% of all vehicle sales in 2011 and 2012
Autobytel DNA is Dealer
• Help dealers sell more vehicles profitably
• Help consumers research vehicles but
• We don’t give pricing advice (historical sold data)
Polk Program - Overview In Q3 of 2011 we began a program with Polk to perform sales analysis on all of our leads
Polk matches all of the leads that go through our network to State Registration data for all 50 states
We get comprehensive reporting at 30, 60 and 90 day intervals
We have established numerous standard reports that we look at monthly – primary ones include:
Close rate by source Close rate by makeCrossover between makes
(submitted lead for Toyota and bought Nissan)
Crossover between New and Used
(submitted lead for New and bought Used)
Time between lead submission and purchase
Lost sales report by dealer
Disclaimer
Cannot show consumer detail – Privacy issues Potential to miss sales due to various dealership naming
conventions in the two databases Polk sales reporting is very conservative
• Different matching criteria• Privacy restrictions make some data inaccessible• Varying degree of data access by state
Time lag in results • 4 months for full 90 days aging• 2 months for first report aged 30 days
Third Party Lead Behavior Purchase behaviors were surprising – influenced by
Brand Parity
Merging of Tier One and Tier Two brands• Domestic Bankruptcies• Recalls• Tsunami
Less loyal generations of consumers
Product Parity
Increased Marketing spend
Industry quality awards
59% of consumers don’t decide which vehicle to buy until the last week (Source: JDP 2012 New Auto shopper Study)
New-vehicle shoppers consider average of 3.3 vehicles (source: JDP 2013 Avoider Study)
Third Party Lead Behavior
• Bought a different Make (New or Used)• Q1 2012 – 44.90%• Q2 2012 – 44.35%
Submitted a New Car Purchase
Request
• Bought a different Make (New or Used)• Q1 2012 – 55.37%• Q2 2012 – 52.82%
Submitted a Used Car Purchase
Request
Third Party Lead Behavior
• Bought Used – any make• Q1 2012 – 45.92%• Q2 2012 – 41.46%
Submitted a New Car
Purchase Request
• Bought New – any make• Q1 2012 – 21.64%• Q2 2012 – 23.27%
Submitted a Used Car Purchase
Request
R.L. Polk Monthly sales reportingBuying Pattern after New Car Lead Submission
Opportunities
New Car Leads• Reinforce the Brand in all lead communications
• E-mail & Phone Scripts
• Add a used or CPO option in addition to the new vehicle• Consider one buying path on dealership website – new and used• Continual communication plan for at least 90 days
• Reinforce Brand• Why Buy from Me• Used/CPO options
• Modify communications as lead ages with more emphasis on used• Review territories and lead volume by zip
Used Car Leads• Reinforce wide variety of inventory including other brands• Mention new car too
Lost Sales Dealer Reports
Where to Learn More
Where to Learn More
