Common sense dictates that you can’t manage and improve upon something without first knowing what needs to be managed and improved. This is true of all forms of digital marketing, but it’s particularly significant when we discuss the most crucial metrics pertaining to dealership lead management. Why? Because some CRM metrics are more important to measure than others; basic KPIs like CLV and clickthrough rates aren’t as critical for auto dealers to track as, say, appointment or closing ratios.
So, how do you define the most vital metrics for dealerships to track? And, most importantly, how does one even measure the right lead management KPIs? Let’s see how deep this rabbit hole goes.
What Lead Management KPIs Must Car Dealers Monitor?
Quality Response & Response Time (Time to Convert)
Most dealers know about the critical 72-hour window to turn a lead into a sale. But that window closes a smidge with each passing year, as the newest crops of shoppers—shoppers of the younger, I-want-it-now generation, that is—expect more urgency from their chosen dealership. If dealers aren’t sending timely first responses, either by text, email, or phone, those leads are likely to dry up in mere hours. So, measure your response times in seconds and minutes, not hours or days.