If there was ever a question that invited a landslide of caveats in my 18 years in this industry it would have to be “What is your close rate?”. Lead source mix, Lead type (New or Used) mix, Sold in Timeframe vs From Leads, and what your store counts as a Bad lead all contribute to a wide range of close rates on web leads.

I would be interested in knowing what this community’s 2019 goals are which also would need your definition of what a Bad lead is.

Here are mine:

15% Lead to Close rate goal (sold in timeframe)

That number comes from considering any lead with a name and one working contact path as Good even if they never reply in the 120 days of our follow-up.  Lead still is Good, but just Lost at that point…

These are our “stage” targets:

35% Appointment Set (typically needs a 60% or higher contact rate)

75% Appointments Show

60% Shown Appointments Sold (may be sold on be-back)

Here is my caveat. Where I’m struggling a bit is where that breakout is, and where that Goal is, between New and Used. 

We have a higher Used closing rate than New which I’m sure is normal. I have some stores at 13/18% and some at 7/20% with variations in the volume ratio of New to Used as well.  Do any of you speak to New and Used as completely separate Goals or do most of you still have a singular Goal that you target for the entire Lead Bucket?  

Looking forward to your feedback!