Many CRM tools leverage algorithms to mine the data in your CRM for prospects that are more likely to buy based on:
- Date of original lead submission
- Make/model of interest
- Location/proximity to dealership
- Age of current vehicle (if specified)
This predictive modeling limits how many prospects you can target. We found 3 simple ways to be more effective in uncovering hot prospects in your CRM.
One of the most effective campaigns simply asks, “What’s your vehicle worth?” Many people will opt to click on the “Value your Trade” tool from such a campaign to get a free report.
Some people may just want to get an appraisal, but that’s only the first step in selling them a car. You’ll get serious buyers too.
Consumers love entering contests. If you set up an easy way to sign up, like a short entry form with a compelling offer, you’ll get a good number of entries. Do not ask people to come to the dealership, or call to enter.
A dealership recently ran a free 2-year lease contest to collect contact info from “fresh leads”. Using a sign up form on their website, they captured 87 leads from that contest. Those entrants are now prospects to follow-up on.
Database maintenance is critical to keep the most engaged prospects by deleting those that are no longer interested.
Sending an opt-out message inviting people to unsubscribe is an effective tactic. People move away, change emails or simply do not want anything from your dealership – and that’s okay. Better to have them off your list then flagging you as spam.
A small percentage will opt-out (5-10%). A handful of people will actually re-engage by inquiring about a vehicle, finding out what they could get for a vehicle, or indicating they’ll be in-market within a few months.
To learn more about how we can help you more effectively mine your ENTIRE CRM database, please fill out the form for a quick 15 minute web demo.