Prioritize Your Leads. Weed Out the Tire Kickers. Introduction. Speakers Mike Spadafore/R. L. Polk & Co. – leading international provider of automotive intelligence and marketing solutions
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Prioritize Your Leads Weed Out the Tire Kickers
Introduction • Speakers • Mike Spadafore/R. L. Polk & Co. – leading international provider of automotive intelligence and marketing solutions • Jeff Raab/Detroit Trading Company – largest automotive lead exchange for the trade of new car and auto finance leads • Agenda • Lead marketplace review • Leveraging data and analytics • The advanced exchange model • A better way forward
It is a Tangled Web We Weave! All leads are treated the same!
Key Automotive Assets Owner and Service Data • Internet leads as a competitive asset • Customers demand quality “Internet Conversations” • Need to optimize the number of leads per salesperson Internet Leads
The Power of Analytics • Prioritization • Lead Follow Up • Lead Purchase Optimization
BUYERS & SELLERS What is the impact of Lead Prioritization on Buyers and Sellers at the point of purchase?
What BUYERS want… QUALITY VOLUME
What SELLERS want… REVENUE
It comes down to this… QUALITY REVENUE & But the current model isn’t working very well…
How do BUYERS address QUALITY today? • “Brand Sourcing” • Edmunds, Yahoo!, MSN, AOL, KBB, Cars.com, AutoTrader • Outcome Data Measurement • Rate suppliers based on closing % • Adjust lead flow from various lead gen sources • Pay For Performance • Increased payout based on lead closing %
So what is the PROBLEM? All leads are not of the same quality …even those from the “best” sources
10s Close 5X Higher than 1s Outcome Analysis of 73,287 Leads Bought, New or Used, Any Dealer, 45 Days
How can we change the model? Take Advantage of Lead Scoring at Point of Purchase • Use predictive intelligence to buy exactly what you want • Buy leads based on their score • Pay a price based on the value of the lead • Improve operational efficiencies • 10s close 5X higher than 1s – Buy the 10s • Dynamic, Market-Driven Pricing • Pricing based on ‘Propensity to Buy’ • Increased focus on ROI, less on cost per lead
Impact on Lead Generators? • Get paid a premium for your highest quality leads • Every source has high-value leads • Let buyers compete for your best leads • Access to More Buyers • Lead Scoring vs. Brand Sourcing • Level playing field in an open market • Benefit from Market Pricing • “Best Price for your Best Leads”