eddyshaf Getting Refreshed
- First Name:
- Loving Honda - Loving Auto Group
- Lufkin, TX
I have asked several industry “experts” this question many times over the years and have never received a satisfactory answer…so I thought I would bring it to the floor for discussion. Engagement Rate with Ghost Internet Leads…first I need to establish a few definitions:
- Internet Lead = email lead from any source which hits your CRM and has valid contact information – either in the form of a good email or good phone number
- Engaged Internet Lead = any Internet Lead who responds to an email or connects via phone/text etc. In other words a two way conversation has been established
- Engagement Rate = the rate at which you are able to engage with internet leads
- Ghost Internet Lead = any Internet Lead who has not engaged despite multiple high quality attempts (phone, email, text, Facebook, IM, you name it, etc…) to contact over a 14 day period
- Ghost Rate = the rate at which Internet Leads are not engaged within the first 14 days
- Intermediate Follow Up = any follow up attempted with a Ghost Internet Lead after day 15
- Long Term Follow Up = any follow up attempted with a Ghost Internet Lead after day 45 or perhaps day 60 or day 90
So – hypothetically lets say that a dealership gets 400 Valid Internet Leads each month – and has an Engagement Rate of $75%, or 300 leads, and therefore a Ghost Rate of 25% or 100 leads.
The Questions Are:
- Of these 100 Ghost Leads, what engagement rate are you able to achieve by conducting Intermediate or Long Term Follow Up?
- Is anyone tracking this metric?
- What engagement rate would you rate as worthy of devoting resources to these Ghost Internet Leads?
- If you are performing this Intermediate and Long Term Follow Up, is it causing any unforeseen negative impact on either productivity or morale of your team?
- Are you even tracking Engagement Rate?