The rush to clean up CRM systems may be costing dealers more than they realize.
The details: An analysis of CRM leads conducted by Foureyes, assessed thousands of CRM records from March through May, and revealed that leads typically thought of as “dead” accounted for a significant number of possible conversions.
“Closed lost” leads account for 13.8% of all sales leads shopping dealer sites.
And they accounted for 14.1% of all sales leads that clicked on emails sent by the dealer.
Why it matters: While lead volume might be down for many dealers, working more strategically and aggressively to assess existing leads will likely help boost sales.
Between the lines: The pace at which leads are being abandoned is accelerating.
Internet leads for new vehicles are being closed out at 16 days, and 18 days for used vehicles.
Leads from phone-ups are being closed out at 21 days for new vehicles and 18 for used cars.
Showroom-ups for new vehicles are being closed out at 23 for new cars and 21 for used vehicles.
What they’re saying: Compared to the 2024 data, dealers are marking leads closed-lost three days faster, with internet leads also closing out three days earlier on average. That might seem small—but when 13.9% of these closed lost leads are coming back to your site, the cost of giving up on them too soon adds up fast, explained Matt Inda, Director of Marketing at Foureyes.
Bottom line: Dealers complaining about lead quality might want to look at their own follow-up timelines first to see if they're killing viable opportunities faster than customers are actually losing interest.
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