"Tips for Managing 800 and Internet Leads" By: Paul Snider President/CEO CreditIQ, Inc/VOISYS Systems Corporation Clearwater, Florida Many dealers do not realize the value of leads generated from 800 numbers and the Internet. The following check list is designed to assist dealerships sell more cars as the result of lead generation: 1. Review Management Reports: VOISYS provides weekly management reports that track advertising and number of calls your dealership received. By paying attention to these reports dealers can better manage advertising and hold staff accountable for each lead generated. Pay attention to trends! If an advertising method does not work, change it immediately. 2. Develop in-house tracing system for all leads. Many dealerships allow salespersons to receive the leads from one common fax machine. One person should be assigned to distribute leads and log into master system. Once logged the salesperson must be held accountable for timely call back and follow up with customer. Remember, this customer only called because they want to purchase a car or truck. This prospect is real and must be treated as such. 3. Conduct quality credit interviews with each customer. Often times sales persons simply obtain a bureau file which may not be correct and make decisions not to contact customers. Every prospect should be called and interviewed to see if the possibility exists for obtaining credit. 4. Review 800 scripts monthly. This is critical because area codes you accept leads from change along with lender guidelines. Keep scripts up to date and make sure you are not missing prospects by eliminating the ones who do not meet exact criteria. In many cases a prospect will call and not have enough income to qualify and the call is dropped yet there may be someone else in the household who would help this person qualify by including their income. 5. Include 800 numbers in direct mail: Direct mail recipients are good prospects and often prefer to call in for pre-qualification as opposed to waiting to come in on sale day. 6. Keep Billboard Information Simple: The best method to use is what ever you can read in 5 to 7 seconds is perfect for billboards. Display the 800 number and words like loan by phone prominently. Remember in many cases the prospect sees this at 35 to 70 miles per hour and can only absorbed so much. Billboards at high traffic stoplights are excellent. 7. Display the 800 numbers and web site in EVERY advertisement: All ads should include toll free numbers and web sites. Prospects often look at new car advertising and do not realize credit is available for those who have experienced problems. Often managers do not realize the power and cost effectiveness of toll free credit numbers for sub prime and prime credit. Dealers have told me that they pay less for toll free services each month than they do for coffee, sodas and snacks for customers and this money generates thousands of dollars profit each month! The average dealer pays less than $500 per month to have a toll free number that is answered 24 hours per day, 7 days per week and receives quality credit information on prospects that want to buy. Take this portion of your business seriously, toll free lead generation is one of the most cost effective ways to increase sales and build a database of prospects for the future. Consider using contact manager systems such as the one offered by VOISYS that allows you to receive leads via e-mail directly into the contact manager eliminating the possibility of lost leads in addition to providing an excellent database for prospects that do not qualify now but will in the future. Good Selling!