The Too Hard Basket!
The other day I read a blog post that really rang true to me. Written by my great friend Chris Parkes, leader of the team at his company called Strategic Jam. The blog in question is about the lost potential in our industry, and making the most of your current marketing spend. I know it got me thinking about my business, and I am sure it will help you too. Chris writes this from his experiences, not only working in the industry, but also from what he does now with his business, which is all about maximizing your return on investment. I am sure you will find his thoughts as compelling as I did.
The ‘Too Hard’ Basket
It’s 2014 and the basket is full.
The automotive industry isn’t the same as it was 10 years ago, nor can it be run that way.
The technology today and the availability of information across the globe 24/7 make it harder than ever to stay at the front of the pack. Manufacturers require more attention, websites need consistent updates, social media presence needs to be monitored, newspapers, TV, radio, eBlasts need creative, and all the while your sales manager is in-between running deals and being caught in the riptide of spreadsheets and reports. With all of this going on, it is easy to see why some people may fill up the too hard basket quicker than others.
So what are the main things that fill up the too hard basket?
- Lost Sales Leads
- Lapsed Service Leads
- 1-5 year customer maintenance……..and the Pièce de résistance…
If you ask a salesperson their closing ratio, I am positive you will be told 1:3 but let’s be honest, it’s more like 1:5. So what’s actually happening to these other 4 leads? Surely they can’t all be nowhere!
What about the Service department? Why are your Lapsed Service Leads lapsed in the first place? Instead of forgetting them, isn’t there something that can be done to fix it? Could it be solved in 5 minutes maybe? Who has the time and patience to go through and ring these leads? How often do you send a card to your customers for their / the vehicles birthday? What sort of an impact would that have do you think? Surely that is worth the time to do… Once again, who can do it… consistently?
Lastly, Prospecting. You would think to some salespeople and sales managers that this is a dirty word.
Because it’s not easy. They fumble, don’t know what to say, and convince themselves that it’s just a waste of time.So you have two options: solve the problem or ignore it.
Either way, it’s going to cost you money… Wouldn’t you prefer a result for the spend?
If you would like to talk to Chris and the team at Strategic Jam, email email@example.com, or give Jam HQ a call on (07) 5577 2162.