Later this year we'll be reviewing the reporting that we provide for AutoPlay Sales Pipeline. We think we've got some great reports but if you are not continually improving, you're going backwards! We are conducting a number of dealer visits to get face-to-face feedback but we'd love to hear more from our customers. This is a fantastic opportunity to shape the future of AutoPlay Reporting - simply complete the short survey below and we will use this feedback in further enhancing our reports.
In AutoPlay it's simple to add monthly costs to your Lead Sources and Campaigns. Doing so will yield useful Cost Per Lead or $CPL figures which help when reviewing the effectiveness of your marketing spend, and help make decisions on where you can get the most bang for your buck!
Setting up monthly costs for your Lead Sources is easy. Simply open the Desktop Studio, click on SETTINGS>SALES PIPELINE SETTINGS>LEAD SOURCES and open up whatever lead source you want to add a monthly cost to.
Adding a monthly cost will then calculate a cost per lead each month. This is visible within AutoPlay Reporting under the Lead Source ROI Report.
Similarly you can add monthly costs at the Campaign level by going to SETTINGS>SALES PIPELINE SETTINGS>LEAD CAMPAIGNS and adding a cost to any campaign.
The Cost per lead for each of your campaign leads will be visible in the Marketing ROI Report in reporting.autoplay.co.nz - allowing dealers to very easily measure the effectiveness of their marketing on actual leads generated to the dealership.
If you have any questions about setting up Lead or Campaign costs you can contact our Support Team on firstname.lastname@example.org
April was a down month for Leads (down 6.6% from March), Test Drives (down 12.8% from March) and Sales (down 9% from March). In particular Trade Me leads dropped considerably whilst brand leads continued to increase.
To qualify for this special offer, you don't need to do anything different! Just click on the 'PROFESSIONALLY RECORD' button to type your script, and the 'PROFESSIONAL RECORDING' button to schedule your recording. Any Professional Recording done from 1st Feb to 31st May will be 50% off our standard price
* Offer only available to AutoPlay Real Estate Customers on the Tier 2/Premium Package who purchase a Professional Recording. Discount will apply from 1st Feb 2017 to May 31st 2017.
AutoPlay Property Videos are a fantastic, low cost way of showcasing properties. A good video engages the viewer and keeps them interested. One of the more effective ways to create engaging videos is to ensure that the audio has a compelling, interesting audio voiceover - whether that is recorded yourself or via a professional voice artist.
At the end of the day, a good script shouldn’t be a simple list of features for the property. Instead, it’s a way to convey your enthusiasm for the property to its potential buyer. That means your own personality and feelings should be evident, just as they would if you were talking to a potential buyer face to face.
If you were to copy and paste the description from the website please check the script is OK to be voiced not just to be read from the website. No bullet points or lists etc. Scripts need to be max 200 words to keep the length around 1 minute otherwise the browser will lose interest. Pronunciation of names if you think they may be difficult - please spell them out eg Papatoetoe (papa-toeytoey)
While keeping the script professional, don’t be afraid to use colloquial language. eg “there’s room to swing cats” in a spacious home. Important to be yourself. A good script should also help the potential buyer visualise the benefits of the property, instead of having to deduce them from a long list of features.
Ideally you’ll know what appeals to a particular buyer so you can tailor a script to them personally. But if not, emphasise the features that are generally sought after by all buyers – interior sunlight, space, facilities etc. - “.. has good sea views” to “Wake up the sight of the rising sun shimmering on the open water. A splendid stretch of coastline is right there outside your window.” - Instead of merely describing something as “good”, why not use “excellent”, “brilliant”, “marvellous”, “outstanding”, “superb”, “fantastic”, “impressive” etc.
Potential buyers can easily tell if someone’s trying to pull the wool over their eyes. If a particular house isn’t that nice, an alternative is to write about something more generic, for example the suburb the house is in, school zones etc. Bottom line, find something positive about each product you’re trying to sell, but don’t make things up that aren’t true!
Perfection Plus! -Welcome to 22 St George Avenue, St Andrews Park, Queenstown
This executive home is virtually brand new and located in one of Queenstown’s Premier close to town subdivisions – St Andrews Park.
This home offers all of the modern living conveniences with a perfect blend of schist stonework, contemporary style and rustic charm. It’s an entertainer’s delight with spacious living, dining and kitchen areas. With wonderful lake and mountain views on your front doorstep you’ll feel splendidly isolated, but town is just a few minutes away.
Value for Money – almost new and with a St Andrews park address, a location and a standalone home like this does not come around often.
Don’t hesitate: give Geoff a call on 027 437 906 to make an appointment today!
Some days it does not feel like it, but it has never been simpler to own your customers - regardless of where they are in the sales cycle. The new ‘on trend’ term is customer nurturing - where the focus is on the complete life cycle of customers, managing them through the times where they are ‘out of market’ through to the times where they are ‘in market’ and ready to purchase. Google at their recent New Zealand Auto Engage conference referred to these as ‘Moments’.
Why they defined them as Moments is very important as it identifies four key decision points in the customer path to purchasing a new vehicle. At each point, it outlines what information a prospective customer has gained, what device or devices the customer has access to at this time and the emotional decision that is being made or fulfilled. The Moment I want to cover is the ‘Digital to Dealership’ moment which they defined as the third step.
The last twelve months has seen a huge amount of change within the industry in the way customers are acquired, managed within the sales process and the quality of nurturing when outside the purchase cycle. Whilst on the surface it looks to have become more complicated, the advances in available technology and platforms have simplified it in many ways. The linear model of digital advertising through the dealership website and mass listing sites, is now only one option within a fragmented and crowded marketplace. Many more options have opened up where you now have direct control over the customer journey with the ability to provide targeted and relevant remarketing. Generally, this also provides a cheaper cost per sale at around one third of the cost of using a traditional listing via a third party.
The key advantage is taking back the ownership of the customer. Why let a listing site own your customer and their road to the sale when you can control and own your own customers and prospects? So, what has changed to allow this to happen. Like most change, it is nothing new and in a lot of ways we are returning to the past pre-internet age when regardless of the size of the dealership its brand stood strong - supported by a great road frontage, print advertising and a little radio. Post internet, maintaining the brand of individual dealerships become harder, and the sales of most non-premium vehicles became commoditised and volume based.
Cost and access to technology has now allowed dealerships access to new applications to support all stages of the customer’s journey. For many years, Dealer Management Systems (DMS) have been the only enabling platform within a dealership and they have developed and matured to bring strong business process management while holding in most part the complete customer database.
The pace of change has now lead to the splitting of the customer management domain into a number of basic sections with their own supporting applications. Those customer contacts or prospects deemed to be ‘out of market’ are now nurtured via a dedicated CRM solution.
For AutoPlay in the last 12 months we have integrated directly into more CRM applications than DMS providers. For the simple reason that for managing the customer, customer communication and web based analytics a dedicated CRM is better suited than a DMS in most cases. This does not make the DMS redundant, it has the opposite effect as it can become the complete source of truth as the main dealership customer database. It becomes the single point where all customer details are maintained from sales to service.
Websites and remarketing go hand in hand and as I stated above, if you can generate your own leads it can reduce the overall cost of customer acquisition. While websites in the past probably looked better they were rather static and acted more like brochures than effective sales tools. Nowadays they make great use of white space and look more like forms than brochures. To harp back to our friends at Google, the reason for this is that prospective customers are carrying out their research away from and outside the dealer’s websites. Even for older vehicles there is a range of trusted websites offering vehicle reviews and ratings. All this means that once a prospective customer starts to interact with your website you have a very limited time to respond to them in a relevant way. The change we are seeing here is the move away from traditional website companies to digital agencies. These digital agencies are providing the complete customer website journey and final destination, generally a request for finance or an appraisal of their existing vehicle. The days of just getting the customer Lead with only the customer name and contact details are over. Knowing what remarketing events generated the Lead and trigged the customer contact to become ‘In market’ is key. We are providing more and more Lead source reporting to customers to allow them to fully understand the effectiveness of campaigns and promotions.
Then comes the last domain that I am totally biased about - Lead Management. 22% of customers change brands or dealerships because their Lead is neither responded to, or is responded to with a lack of details. This year we have focused on separating new inbound customer Leads that need urgent action from those follow-up events that can be completed in a less timely manner with the introduction of our Prospect/CRM dashboard. This works well when integrated directly into either your existing DMS or CRM applications.
The goal is to keep reviewing the experience that you are offering your customers and leveraging any newly available technology for an improvement. The cost might just be mitigated with a change in spread of your existing spend. Don’t let any other bugger own your customer, take the control back!
AutoPlay has over a dozen reports available to make sense of the data captured by the Sales Pipeline. Understanding these reports and taking action accordingly can make the difference between a good and bad month.
One of the more underrated reports is the Sales Pipeline Report – aka the “Donut Report”. The Sales Pipeline Report measures where in the road to a sale your leads are currently at. Unlike most of the reports available the Sales Pipeline Report looks at the CURRENT Progress of any leads generated in the reporting period. For example, if the report is run today for January 1st to 31st you will be able to see whether you have adequately followed up your January leads – useful, right?
The best dealerships will be aiming to minimise the number of leads in ‘Awaiting Action’. Doing so means that your sales team have followed up the lead. However, the value of this report can be taken even further by combining it with the information learned in other reports.
Below is a dealership’s Sales Pipeline Report for April so far. As you can see the dealership has 42 leads at ‘Awaiting Action’ – meaning they have not actioned these leads at all since they received them. Checking the dealerships Lead Conversion Report tells us the dealership normally converts 42.9% of their leads to Test Drive, and 19.8% to Sales.
Working on these averages that means that almost 18 of these leads would result in a Test Drive and roughly 8 would end up as a Sale. When all that is required to convert these leads is to follow up with them, it’s well worth refocussing your sales team to working these leads to generate a few more deals.
Similarly, this dealership has 40 leads that are sitting at the Test Drive stage, but have yet to be moved forward to ‘Present Deal’, ‘Finance’ or ‘Sold’. Given the dealership converts 19.8% of their leads to Sales at the very least there is another 8 sales sitting amongst those 40 people who went for a Test Drive (and that is conservative – not accounting for the fact these customers are already further down the road to a sale than most).
Without spending any additional money on marketing or advertising this dealership could potentially achieve 16 more sales just by focusing on the following actions;
Whilst everyone wants more leads this dealership has approximately 16 deals that are sitting on the table and could be had – just by working whatever leads their marketing/advertising has already generated.
If you have any questions about this report and how to interpret it you can email our friendly Support team at email@example.com.
Last week AutoPlay moved to new premises at Level 2, 38 Ireland Street, Freemans Bay, Auckland 1011. Check out a few snapshots of our new home below.
Overall March 2017 was a successful month for kiwi dealerships who generated 17.6% more leads in March than they did in February (view the Feb results - http://www.theplaybook.co.nz/playbook/-where-do-your-leads-come-from-find-out-the-top-3-leads-by-source)
The top 3 sources of Leads didn't change in March - with Trade Me again taking out the top spot as the number one source of leads. However whilst 'Trade Me' leads increased by 14.3%, 'Web' (i.e dealers websites) and 'Brand' gained traction as the next largest source of leads with growth of 24.8% and 32.6% respectively.
When it comes to the source of Test Drives, like February many were attributed to 'Direct' walk ins. However 'Brand' increased by 22.5% as a source of Test Drives - further reinforcing that brands/OEM's put in a big effort to generate leads for dealerships in March.
Despite dealerships being able to convert 'Brand' leads to Test Drive, they were less successful at converting these leads to sales. 'Direct' again took out the top spot for Sales by Source, followed by 'Trade Me' and 'Web'. In March 'Web' was the big mover in Sales by Source with a massive jump of 57.5% in sales against leads where 'Web' was identified as the source of the lead.
Make sure to check into next months issue of the PlayBook to catch the top Leads, Test Drives and Sales by Source for April.
One of the more important stats that dealerships can measure using the AutoPlay Sales Pipeline is where their leads are coming from. AutoPlay have a purpose-built Lead Source Report which tracks what salespeople select in the ‘SOURCE’ field when loading a new lead. This information helps dealerships make better decisions about where to spend their marketing money to get the most bang for buck. With our customer base, AutoPlay has access to a significant % of the presale lead stats throughout NZ.
Overall, February was down in terms of the number of leads being captured and entered by AutoPlay customers. In terms of the volume of leads ‘Trade Me’ generated the most leads for dealerships, followed by dealership ‘Websites’. In third place was ‘Brand’ – with OEM’s accounting for the third most leads pushed to dealerships in February.
Interestingly whilst Trade Me was the number one source of leads from dealerships, it only represented the third most sales – and conversion was comparatively lower than it was in January.
The majority of Sales were actually captured as ‘Direct’ leads – which is often what dealerships use to describe a walk-in customer who has approached them directly (generally straight to Test Drive). The lead source ‘Repeat’ accounted for the next most Sales and actually increased by 25% from January. Combine this with the fact that overall leads captured were lower in February, this increase in Sales from Repeat customers shows that dealerships worked harder to generate their own leads through prospecting their repeat customers.
Make sure to read next month’s issues of The PlayBook eDM to keep up to date with where the market is sourcing their leads.
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