In a nutshell, the best auto leads are contacts for a high profit, high conversion vehicle shopper, with the highest profit margin. Part of defining the best car leads for dealerships, however, is also determining what they are not.
Quality Auto Leads Are Productive
Do you consider shoppers who had their credit report pulled at another dealership to be great auto leads? At a reported 4.5% average response rate and a close rate that throws away another 75%, we don’t.
Why? Well, a 1% result wastes 99% of your time and resources. The car shopper has already built a relationship with someone else. They've previously done paperwork. It’s an uphill battle with someone who either just bought a car or just failed to buy a car after using hours of another dealer’s time. With unproductive auto leads like that, an online automotive leads company had to open their own call center just to keep their customers from giving up. Your team deserves better.
Good Vehicle Leads Are Exclusive
In the example above, the lead was already used and tossed out. Almost as frustrating, for both you and the lead, is a person being bombarded by every dealership in a fifty-mile radius. They did one careless search online and now they have more offers than they can handle. That’s not a great car lead or truck lead, that’s a waste of time. If you can get them to come in at all, they have so much leverage that they will negotiate down to the last penny or walk out with a bad attitude. You want someone who chooses to work with you. A driver that really wants a new or used vehicle from your lot.
Serious Dealer Leads Are Profitable
The cost of converting leads can be high. There is more that the data price, there is overhead and energy. Earnest buyers will buy what they need at the price you provide. They will pay the interest that is practical for their financial situation. They will respond to your integrity and open door with action.
Effective Auto Leads Produce Now
Vehicle leads should convert promptly. If you have to start with a postcard campaign and carry on for months after that, you don’t have a lead, you have a prospect. Prospects will, possibly, someday, buy a new or used vehicle; but, no one knows where or when.
We are not looking for the person still doing research. They don’t have to consult with their friends. They are not going to think about it and come back next week.
They are not shopping, they are buying. Great dealership leads are contacts who want a vehicle right away. They will tell you, “I need a car now, just make it happen.”
The Best Auto Leads Also Produce Later
When you find this buyer what they needed when they were anxious, the sale can have positive repercussions for years. This amazing auto lead results in a delighted and loyal driver who will come back for more and also bring referrals.
CEO VL Digital Marketing