Lost Sales Analysis.
Lost Sales Analysis in the Motor Trade by Customer Connection.
If you do not monitor your lost sales on a consistent basis then you are burning your marketing spend and missing golden opportunities to sell more cars.
There's no doubt that the advent of electronic diary enquiry management systems over the last decade or so has vastly improved data collection and follow-up processes in the motor industry.
However as with any customer database this is only as good as the information contained within it and the problem comes when sales people in dealerships start to update their enquiry diary and comment on actions taken.
You can see that some motor dealers have begun to realise the importance of monitoring their enquiry management with the increasing popularity of installing call recording solutions into their businesses. Whilst the goal of these systems is to improve call handling we know that they are increasingly being used by the sales management because they feel the need to check what the sales people are feeding back matches what is being said by the customer.
To put it bluntly, are their sales team telling them the truth?!
At Customer Connection we work closely with our clients and have seen countless examples of customer feedback being very different from what is being reported back by sales people to their management.
Yes, voice call recording systems do a great job of this and have their place but of course it only picks up any interaction that took place on the phone.
Customer Connection systems provide real customer feedback from enquiries that came from showroom enquiries, phone enquiries and leads that were generated via email or your website forms.
The research we have done with our clients using our lost sales product provides some staggering results in getting feedback from customers who their sales people claim are no longer in the market or have bought from a competitor.
Our lost sales analysis tools have been successful in re-igniting sales leads that were otherwise reported as dead and providing vital information to sales or enquiry managers who can compare the feedback with the data they received from their own teams.
It's not unusual for at least a third of respondees to indicate that they are still in the market...
On a recent project for a large dealer group 52% of respondees indicated that they were still in the market, or the reason that was given for 'no further interest' did not closely match that given by the sales executive.
Happily with this renewed contact the dealerships also generated sales from these respondees, which more than covered any costs they incurred for our services and of course they had not spent any more money on marketing.
Customer Connection gives you this important data in a low-cost easy to understand format and best of all it’s very FAST!
If you do not monitor your lost sales on a consistent basis then you are burning your marketing spend and missing golden opportunities to sell more cars.
There's no doubt that the advent of electronic diary enquiry management systems over the last decade or so has vastly improved data collection and follow-up processes in the motor industry.
However as with any customer database this is only as good as the information contained within it and the problem comes when sales people in dealerships start to update their enquiry diary and comment on actions taken.
You can see that some motor dealers have begun to realise the importance of monitoring their enquiry management with the increasing popularity of installing call recording solutions into their businesses. Whilst the goal of these systems is to improve call handling we know that they are increasingly being used by the sales management because they feel the need to check what the sales people are feeding back matches what is being said by the customer.
To put it bluntly, are their sales team telling them the truth?!
At Customer Connection we work closely with our clients and have seen countless examples of customer feedback being very different from what is being reported back by sales people to their management.
Yes, voice call recording systems do a great job of this and have their place but of course it only picks up any interaction that took place on the phone.
Customer Connection systems provide real customer feedback from enquiries that came from showroom enquiries, phone enquiries and leads that were generated via email or your website forms.
The research we have done with our clients using our lost sales product provides some staggering results in getting feedback from customers who their sales people claim are no longer in the market or have bought from a competitor.
Our lost sales analysis tools have been successful in re-igniting sales leads that were otherwise reported as dead and providing vital information to sales or enquiry managers who can compare the feedback with the data they received from their own teams.
It's not unusual for at least a third of respondees to indicate that they are still in the market...
On a recent project for a large dealer group 52% of respondees indicated that they were still in the market, or the reason that was given for 'no further interest' did not closely match that given by the sales executive.
Happily with this renewed contact the dealerships also generated sales from these respondees, which more than covered any costs they incurred for our services and of course they had not spent any more money on marketing.
Customer Connection gives you this important data in a low-cost easy to understand format and best of all it’s very FAST!
If you would like more information or to understand how Customer Connection can assist your business please call us on 0845 123 5412 or request more information here>>
www.CustomerConnection.co.uk
Customer Connection: Gives you the REAL reasons why people did not buy from you and provides the information to let you do something about it before it’s too late.
Follow us on Twitter @CustConnection
Labels: CustConnection, data collection, enquiry management, lost sales analysis, marketing spend, Motor Trade, sell more cars, Twitter, www.customerconnection.co.uk
