The growth of competition in the automotive industry has required dealerships to adopt strategies that match the consumption habits of their potential customers.
Today, each prospect is much more valuable than before. Why? Because each prospect costs the dealership money, and you need to take full advantage of each contact to achieve the highest amount of sales. For this reason, we need strategies and technologies that allow us to intelligently work the data.
This article will address three ways our CRM can help us take advantage of lost sales to sell more.
Which reason for a lost sale is the most harmful?
Generally, we group lost sales by motive and just look at the overall numbers. But that’s is only part of the indicator. The real value lies in analyzing the recurrence of problems and establishing a priority to solve them. But how to know which lost sale motives to prioritize?
It’s useful to analyze the CRM and look for the opportunities with the largest monetary values, and then address the main reasons for losing these sales. After that, we can work down the list to address opportunities of lower value.
In which stage do we lose the most sales?
It’s also important to know when sales are lost. The sales funnel is a tool that allows you to quickly know where the greatest leakage of opportunities occurs; you can then make changes in that stage, and train your sales staff accordingly.
The following example shows that the greatest amount of lost sales occurred in the qualification stage. The sales manager, based on this information, can take steps to improve the conversion rate of this stage.
Create campaigns based on lost sales motives
After analyzing your lost sales, it is a good strategy to go back to each one and address it with a different strategy. Lost sales campaigns use CRM data to generate contacts with people who once showed interest in buying, in order to reintegrate them into an optimized sales process.
The right CRM facilitates the use of your data to transform bad results into successful sales processes.
Request a demo here to see how you can apply these concepts in Tracker CRM.