Enjoying what you’re reading? Sign up now.

Subscribe
Search

Leading The Way: 3 Tips to Help Your Team Find Quality Prospects

Article Highlights:

  • Utilize your customer data to help pick up on patterns and behaviors.
  • Don't be afraid to take proactive approach with your customers.

Customers have unlimited options in today’s market, so it’s important your team makes the most of every interaction. Failure to do so jeopardizes long-term customer retention as they explore alternatives. This makes your team’s ability to identify and pursue quality prospects even more important. But it can be challenging to know what prospects to pursue. Chasing down the wrong ones can cost valuable time and resources. Below are three tips to help your team with pursuing prospects.

 

Embrace Data

Utilizing your customer information is crucial to knowing who to pursue.  Looking at the different buying trends and behaviors of your customers will give your team better insights into when customers are more likely to buy a vehicle. Even small details can help your team make more informed decisions. A customer who just started a family will likely have different preferences for a vehicle than a customer who is single. Relying on a single factor like equity isn’t enough to give your team a clear idea of who’s a quality prospect. You risk missing out on customers ready to buy if you’re not taking advantage of all the information available to you.  For example, you notice a customer’s buying history consistently shows a new vehicle purchase every three years. You can acknowledge that pattern and approach them when the time is right. If you had a tool that accounted for transactional, behavioral, and demographic data, you could make more informed decisions quicker.

 

Proactive, Not Reactive

Waiting for customers to come to you isn’t always the best strategy. The more time between your last interaction with a customer, the more likely they’ve gone elsewhere. Adopting a more proactive approach will give your team better sales opportunities. For example, following up after your service customers have been in for an appointment is a good start, but what if your sales team approached them when they’re in for service? It’s a free at-bat to try and make a sale. At the very least it helps to build a connection and gets the customer thinking about their next vehicle sooner. You could even take this a step further by having a vehicle prepped and ready to test drive as soon as your salesperson is notified the customer has arrived for service.

 

Find The Right Medium

Understanding which medium your customers respond to can help make sure you connect with them in an impactful way they’ll respond to.  For instance, your customers may prefer to learn about your holiday sale through direct mail, while an email might work better for reminding them it’s time to get their oil changed with a direct link to schedule their appointment. So, by tracking what works and what doesn’t, you can adjust your next campaign for maximum effectiveness. Utilizing reporting can provide valuable insights to ensure your marketing efforts are focused in the right areas.

There will always be some nuance when determining what prospects to pursue. However, if your dealership can leverage your customer data, receive proactive prospect details, and get insight reports to adjust your strategy, then you’re empowering your team to maximize opportunities and uncover quality prospects.

Share this Article

Product Planning Manager, Reynolds and Reynolds

Hayley Holmes is a Product Manager at Reynolds and Reynolds. With over 10 years experience in the automotive industry, she has utilized her expertise in multiple areas including: CRM, Equity Mining, Service Lane, and Analytics.

Related Articles:

Baseball resting on foul line

Three Things Baseball Can Remind Us About Funding a Deal

As we head into summer, there are many things to look forward to, like children laughing in the park and ice cream trucks spreading familiar

Understanding the FTC’s Enforcement Tools and How You Can Create Your…

The Federal Trade Commission (FTC) has intensified its focus on dealerships and is attempting to add new regulatory practices to their already robust arsenal. If

Is your sales team staying in tune?

Everybody enjoys a good musical performance. The singer producing an amazing melody on the microphone and the band backing them up with their instruments.  The

aerial shot of a parking lot; some of the parking spots are filled with vehicles and some of them are empty

Utilizing Tech to Acquire Highly Profitable Inventory

Over the last few years, you’ve probably grown accustomed to sourcing used vehicles from a variety of places, but acquiring a decent sized inventory is