How’s your Dealership Phone Up Game?
In Part 4: Not Asking for the Appointment, we uncovered that so far, you’re potentially losing $1,477,547 per year due to unanswered call drops, leads not entered into the CRM, people who hang up from being on hold too long, and your team not asking for an appointment. Don’t kill the messenger! I’m just trying to keep it real.
Part 5: Lack of Follow-up
Let’s recap where we are for lead count from our Facebook Click to Call campaign leads.
- We started with 550.
- We lost 126 to unanswered calls.
- We lost 56 that never made it into the CRM.
- We lost 169 from being on hold too long.
- We lost 153 by not asking for an appointment.
- We’re now left with……….drumroll please………………46 viable leads.
If you’re going to have any chance at making some profits from this Facebook campaign we’ve been following, your follow-up processes better be on point!
23.5% of leads are not followed up within 24 hours. 67.3% within 1 week or longer.According to a study published by foureyes.io
You’re probably tired of my math by now. I am too, it’s quite disgusting to see how much marketing budget has been wasted and how much loss the dealership has incurred so far. But alas, I must paint a full picture.
- We’re left with 46 leads x 67.3% who weren’t followed up within 1 week = 31 people lost per month/372 lost per year.
- 31 people lost x $2.24 FB CPC = $69.44 market dollars lost per month/$833.28 marketing dollars lost per year.
- Assuming you could have closed 12.5% of them = 4 deals per month lost/48 deals lost per year.
- 4 deals lost per month x $2000 profit = $8,000 profit loss per month/$96,000 profit loss per year
Hey, look at the bright side. In the end, you were left with 15 leads for the month. Assuming a 12.5% close rate, you sold 2 of them for a profit of $4,000.
The final loss tally…
|Per Month||Per Year|
|Part 1: Unanswered Calls Marketing Budget Loss||$282.24||$3,386|
|Part 1: Unanswered Call Sales Profit Loss||$28,000||$336,000|
|Part 2: Leads not entered in CRM Marketing Budget Loss||$125.44||$1,505|
|Part 2: Leads not entered into CRM Sales Profit Loss||$14,000||$168,000|
|Par 3: On Hold Marketing Budget Loss||$378.56||$4,542|
|Part 3: On Hold Hang Ups Sales Profit Loss||$42,000||$504,000|
|Part 4: No Appointment Ask Marketing Budget Loss||$295.68||$3,548|
|Part 4: No Appointment Ask Sales Profit Loss||$34,000||$408,000|
|Part 5: No follow up leads Marketing Budget Loss||$69.44||$833.28|
|Part 5: No follow up leads in Sales Profit Loss||$8,000||$96,000|
|Total Campaign Profit||$123,151||$1,477,817|
Ready to make a change? Head on over to Part 6: The Solution.