There are How Many "Hidden" Sales Leads at Automotive Dealerships?

News provided by

Foureyes

Jul 15, 2024, 12:40 ET


New research quantifies how quickly sales teams stop pursuing leads; and how many of those leads continue to shop.

PORTLAND, Ore., July 15, 2024 /PRNewswire-PRWeb/ -- New research on sales process data across U.S. automotive dealerships sheds light on the opportunity for "hidden" leads in dealership CRMs.

Foureyes, who conducted the analysis, defines hidden opportunities as:

  • Sales leads marked "closed-lost" (or similar statuses like "lost" or "bad") by dealerships in their CRM
  • Despite being "closed-lost," the leads are still actively engaging with the dealer's digital properties

They are "hidden" because of the tendency for dealerships to stop prospecting these leads.

So, just how quickly are leads being marked "closed-lost?"

In the first half of 2024, the Foureyes research found that lost leads were marked as such within 21 days (median) of contacting the dealership. This number slightly changed depending on how these leads contacted the dealership, with internet leads (20 days) being marked lost slightly faster than phone ups (22 days) and showroom ups (22 days).

Leads that inquired about used vehicles (21 days) were marked lost slightly faster than those interested in new vehicles (22 days).

How many "closed-lost" leads still engaged with the dealership?

On average during this timeframe, "closed-lost" sales leads accounted for:

  • 13.3% of all sales leads who returned and shopped the dealer website
  • 15.7% of all sales leads that clicked into emails* sent by the dealer

"We hope this data helps dealerships see the sales opportunities that already exist in their CRMs and sales process today," said David Steinberg, CEO of Foureyes. "It's just hard to spot without being able to see if someone is still actively shopping or not."

About Foureyes

Foureyes is sales assistant software that helps dealers work their leads so sales teams can get back to closing more deals. It uses AI and connected data to work alongside dealership teams and their existing processes to automate lead logging, follow-up based on inventory price changes, and alert for salespeople when in-market leads return to dealer websites.

Matt Inda, Foureyes, , 971-352-3494, [email protected]

*Based on email activity Foureyes tracks through its Prospect Engagement email solution.

Media Contact

Matt Inda, Foureyes, 1 971-352-3494, [email protected],  

SOURCE Foureyes