Last year we posted several of our OEM Performance and Purchase Analysis results in the form of info-graphics. The response was amazing, due to the eye opening data we are able to provide buy utilizing our partnership with IHS / Polk. Partnering with IHS / Polk allows us acquire and validate Lead to Close performance. In return, showing lead attribution from lead conception all the way to the sale. Not just a sale at your dealership but a *sale all-together.
The first OEM we’re going to analyze this year is KIA.
Let’s review the KIA Purchase Analysis Report from top to bottom...
Starting from the top, you see “Leads Generated“. During the months of 6/1/2013 – 5/31/2014 HookLogic generated and incentivized 22,338 leads for our Kia dealerships.
Of the 22,338incentivized vehicle leads, 6,472 of those customers leads walked into a Kia dealership, that utilized HookLogic’s suite of products (during this time frame) to test drive a vehicle after engaging with either Wed2Show or Lead2Show.
Of the total amount of leads generated, 3 in 10 showed up at a Kia dealership for a 29% Lead to Show Rate. This is more than twice the national average (17%) Show Rate on internet leads.
KIA Sales Data
Of the 6,472 leads that were incentivized and walked into this group of Kia dealers for a test drive, 64% purchased a vehicle.
This group of Kia dealers are closing HookLogic incentivized showroom ups at 64% with an overall lead closing ratio of 19%.
Most dealers do a good job at measuring their lead closing ratios and closing the customer once they’re in the showroom. What dealers miss out on measuring is their Lead-to-Show rate.
This year we've added 2 new sections to the Performance Infographic: Loyalty / Defection and Conquest Sales. For our Kia dealers, the Loyalty / Defection rate is 65%. Meaning, of those customers that sent in a lead for a Kia, bought a Kia. Our Kia dealers also have a STRONG 71% Conquest Sales Rate.
*A conquest sale occurs when a consumer purchases a Kia product and did not have a Kia vehicle in their garage. Kia’s average conquest sales rate: 29%.
Whether it’s a lead originating from your dealer’s website, 3rd Party Lead, Online Chat lead or HookLogic Web2Show – By getting more in-market shoppers to Show Up at your dealership, you get more opportunities to make a sale.
If you're a Kia dealer and looking to increase your website leads, increase your lead-to-show rate and overall sales opportunities, contact us for a full demo!