Three Pillars of Sentience Automotive Solutions

Three Pillars of Sentience Automotive Solutions

Sentience Automotive Solutions operates by identifying the problems at three distinct stages in your sales process.

These three stages create the Three Pillars of Sentience Automotive Solutions.

1.??????Lead generation

2.??????Conversion Rates

3.??????Margins

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Pillar Two: Conversion Rates

Conversion rates go hand in hand with your lead management. If you do not know who, what and where your leads are in your sales funnel, good luck working out your conversion rates.

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Why Conversion Rates Are Important

Conversion rates are extremely important for your business to track and review success. These statistics will provide direct data, determining the strongest and the weakest links of your sales strategy.

Knowing your conversion rate percentage is an integral measurement of your end to end, enquiry to sale management. This looks at how many sales closed from the number of leads generated.

Conversion rates are particularly important when running a lead generation exercise, as it enables you to tailor your approach as a business (dependent upon how good or poor your conversion rate is), thus enabling you to determine and drive the success of each campaign. They can also be utilised to set ROI expectations when scaling a campaign and forecasting a departmental financial outcome.

Which Statistics Do We Recommend to Track?

After a period of observation, you will understand where your conversion rates and average benchmarks sit. This will then help you to decide what ‘success’ looks like for your business.

As a bare minimum, we suggest that you should be tracking the following on your website:

·????????Website visitor to lead (more information requested on site)

·????????Lead to customer conversion rates

·????????Website visitor vs reservation fees paid

·????????Enquiry to Sale conversion rate

·????????Finance application / approval conversation

·????????Cash buyer

·????????Entry to Exit Sales funnel management (How much of what goes in are you converting)

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When tracking your marketing activities, be sure to measure:

·????????Click through rates

·????????Clicks to leads

·????????Leads to customers

·????????Cost per acquisition

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How Conversion Rates Can Help Your Business

These calculations will help your business by showing what is working well and giving a high conversion rate, this could be in the form of lead to appointment, appointment to test drive, or test drive to close. However, on the other end of the scale, it will highlight which stage of the sales process is not converting. These problems can fall companywide, be it a sales agent who is not reaching targets, a landing page copy that needs updating, or an enquiry form that is too long and putting customers off.

Conversion rates will determine if your marketing is profitable (or even working), reveal insights into your customer's digital journey and guide your marketing strategy to attract your ideal customer. This measurement is a tool to drive successful campaigns, generate high quality leads to, inevitably, make you more money.

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Questions to ask yourself:

1.??????Are you converting enough to hit your targets?

2.??????Does a specific page or physical area of your business have a larger exit rate?

3.??????Does your digital journey deliver?

With our expertise, knowledge, and tools, we can pinpoint where and why your conversion rates are flatlining. Our mission at Sentience Automotive Solutions is to find the pain points of your sales funnel and fix them.

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Enquire now:?[email protected]

https://www.sentienceas.com/

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