Good afternoon, Joe –
I want to thank you for your emails/blogs bringing a bit of humor to my j-o-b. The end of the month has come and gone and bring on August. I think to myself, what should I really be tracking? Leads and Closing ratios are one thing, but do you have a checklist I could go off of?
From Joe Webb…
I don’t have a full check-list, per se, because every department manager (or different ISM duties) involve different metrics. This is something my VP is going to be speaking on at the upcoming Digital Dealer in Las Vegas.
What I want our DealerKnows clients to look at:
- Total Leads
- % of Contact Made
- # of Set Appts
- % of Contact Made to Set Appts
- # of Showed Appointments
- % of Set to Showed Appts
- # of Sold
- % of Total Leads to Sold
- % of Showed Appts to Sold
- # of Opt-outs
- # of Leads Unanswered
- Response Time
- % of Customer Replies
You may also want to concern yourself with
- Average Gross Profit per Internet deal (provided they source correctly)
- Total Gross Profit for all Internet sales (provided they source correctly)
- Multiple web analytics for the Website (Google Analyics – bounce rate, time on site, conversion, etc)
- Number of Spotlights used in AutoTrader
- % of collective price of inventory vs market (if using a vehicle market pricing analysis tool).
There is rarely ever consistent growth unless you are actively monitoring multiple measurements throughout the month. The only way to know where you are is to know where you’ve been.
Hope that helps,