8 Auto Dealer Sales Metrics to Track
What gets measured gets improved – Peter Drucker
If you are in business, you’ve seen and heard this quote mentioned over and over. Why? It’s a gold standard statement. Put another way, how can you expect to improve something if you don’t measure it? What’s the baseline? How did we improve from that baseline last week or last month? It’s a fundamental rule to track your sales performance. Let’s look at 8 key auto dealer salesperson metrics to track.
- Calls — When a lead comes in that customer needs to be called quickly. Once the customer is evaluated measure how how many calls are going out. More calls generally means more sales. This is the simplest metric to track.
- Conversations — High calls logged doesn’t mean anything without connecting with the customer. Getting a full conversation is the next step down the funnel towards a sale and is more valuable.
- Appointment scheduled — With a conversation with the prospective customer moving well, ideally you get an appointment scheduled to come to the dealership to take a look at the vehicle they are interested in.
- Appointment completed — Some customers won’t show up despite a place on the calendar. It’s important to track this as it tells you the quality of the prospective customers you are logging.
- Driving demo completed — With the customer in store the next step is to get them in to the ideal vehicle for their needs and budget. A driving demo of the vehicle will get them that much closer to a sale.
- Sales lost — Although you won’t close every single customer, it’s important to track why the deal was lost. You’ll learn more from your failed sales than your successes and you can use this to continually improve. Check out this great podcast following a car dealership trying to hit their monthly numbers. Some good tips in there for improving your salesmanship.
- Sales won — Yes, you closed a sale! This is what we are after. Success is yours!
- Month over Month sales won percentage (bonus: Year over Year) – Sales ebb and flow based on seasonal factors, economy and marketing of the dealership. Ideally you are improving your overall sales won vs lost. This is like your batting average. The better you hit the more valuable you are.
I’ve given you some great metrics to track but I would bet 97% of salespeople still won’t track these numbers. The 3% most likely correlate with the highest earners that are constantly improving themselves. Track this activity in your CRM or even a Google Doc that you have open in a tab. It’s easy enough and takes only a few seconds per task. What are some other sales metrics that you like to track?