In my last article “1 Simple Way to Increase your Appointment to Show Rate”, I reviewed how your sales and BDC staff can utilize our “Send Coupon” feature to help increase their appointment show percentage.
We have dealers utilizing the Send Coupon feature every day to increase their appointment to show rate by 20% or more. However, when I’ve presented this feature or idea to other dealers, I sometimes sense a bit of hesitation. And that’s okay. Not everything works for everybody because the first step in getting anything to work is buy-in and commitment from top management.
To help defuse this hesitation, let’s do some quick math:
*Remember - the average dealership has a 50% Appointment to Show rate.
Say you schedule 50 appointments Of those 50 appointment’s, 25 show up for their appointment (50% Appointment to Show) Of those 25, you sell an average of 60% = 15 sales
Increase the show rate by 20%
You schedule 50 appointments Of those 50 appointment’s, 35 show up for their appointment (increased to 70% Appointment to Show) Of those 35, you sell an average of 60% = 21 sales
Using the average $25.00 incentive, let’s figure out the potential ROI.
50 appointments / 35 shows 35 x $25 = $875 With a 20% increase, you move from 15 sales to 21 sales. That’s 6 more deals.
= $145 per additional Show to Sold
This might not jive with everyone’s calculator, depending on your current budget, process and inventory. But I would guess most dealers have room to increase their appointment to show rate by 20%.
For those still a bit hesitant, train your staff to incentivize customers that seem hesitant when scheduling the appointment. Use the incentive and supportive word track to not only lock in the show with a hesitant caller, but also reinforce the appointment time. There’s nothing worse than coming into work during your day off or staying late only to find out the customer is a no show.
Differentiate by Incentivizing the your phone appointments to increase your show rate and ultimately sell more cars.