Jackie, I have operated eCommerce efforts, including BDC, for over seven years now.
15% closing is commonly viewed as great and 11% is average. HOWEVER, I implemented a lead grading system and closed some lead classes much higher. 35% on the leads from our own web properties, for example. And so on.
Some people get higher results, and I'll let them speak to that. You can email me at email@example.com if you want more info.
VP of Research, CAR Research XRM
Keith's answer pretty much is where we are at. Much depends on the lead source itself. Does it tend to produce high funnel or low funnel prospects? We get a ton of leads from Autotrader's Trade-in Marketplace, but they are generally much higher up in the funnel - they are in many cases just doing research on what their car is worth and may or may not be in the the market for a car. So those are closing only at 4-5%. Leads from our website chat provider close much much higher.. they are definitely lower in the funnel. Should we therefore turn off TIM? No way! Even though they close at a lower rate, we get a ton of them, and they are in our database for future marketing, both sales and service. And are a good source for buying vehicles. Each lead source should have enough merit aside from closing rate to warrant keeping them.
Jackie, I run an outsourced BDC and our percentage of appointments set to leads (all lead sources) range from 40-45%. Our showroom visits average 50-60% and sales averages 45% and in the case of two of our dealer clients, their sales average 60-70%. Feel free to email me if you have any questions firstname.lastname@example.org
Here are the numbers we aim for:
Lead to Set - 38%
Set to Show - 80%
Show to Sale - 55%
Overall Closing - 17%
250-300 leads should generate 43-51 sales depending on the quality of your leads. If you are getting more than 10% of your leads from Third Party lead providers, your sales will likely be lower.
200 leads, 44 sales
300 leads, 66 sales