Autobytel Inc. announced today a dramatic increase in closing ratios and contact rates by dealers using its pioneering Rapid Response program. In September, Autobytel announced that 1,300 program dealers were utilizing its value-added Rapid Response program, the industry's premier automated phone response program. Today, just six months later, that number has grown to 2,200”and counting. Even more impressive than the program's growth are the notable results it's generating for dealers, with the majority of surveyed dealers who utilize Rapid Response reporting significant improvements in contact rates, closing ratios and sales.
"Whether it's walk-ins or Internet customers, sales are all about interaction, listening and developing relationships, said Steven Davids, a salesperson at Frankel Acura in Cockeysville, MD, who, in a new dealership case study on Rapid Response, says his closing ratios on showroom appointments have climbed from 75 percent to 85 percent since starting the program. "Bottom line, with Rapid Response I'm talking to live customers and my competitors are talking to voice mails.
Frankel Acura is not alone in its success with Rapid Response. According to a recent survey of dealers who utilize the program, 65 percent say that Rapid Response has improved their contact rates. In addition, the majority of dealers surveyed said that Rapid Response not only provided an average of four additional sales per month, but increased their closing ratios an average of 21 percent.1
"Our message of Real Innovation is translating into real sales for our member dealers, said Autobytel Inc. Senior Vice President of Dealer Operations and Strategy Mark Garms. "The success of Rapid Response is another example of why dealers continue to choose Autobytel. We understand the importance of delivering more than just qualified leads: our innovative products and services make it easier for dealers to sell more cars efficiently.
With more than 90 percent of today's automotive consumers using the Internet during their shopping process, it is more critical than ever that dealers utilize products and services that capitalize on these in-market car buyers.2 Studies show that the faster dealers respond to an online lead, the more likely the customer is to buy. Rapid Response is designed to streamline follow up by phoning the dealership when a local lead comes in through any Autobytel marketing site. The dealer is then provided with the customer's contact and vehicle information and an option to click a button to attempt to contact the customer, ideally while he or she is still sitting at the computer.
According to Garms, "Rapid Response puts the control back into the dealers' hands by offering them the ability to interact with more customers, earlier in the process, with less phone work and no additional cost whatsoever. We're pleased that so many dealers are taking advantage of it and that it's helping them succeed in a tough sales period.
More information regarding Frankel Acura's experience with Rapid Response is available in a new case study issued by Autobytel. To learn more about Rapid Response and Autobytel's complete lineup of value-added dealer services, contact Joe Foster at 323.572.5361 or fosterj@ruderfinn.com.
About Autobytel Inc.
Since launching the first car-buying website in 1995, Autobytel Inc.'s (Nasdaq:ABTL) mission has been to empower automotive consumers with the tools and information they need to make smart, well-informed vehicle purchasing and ownership decisions. The company has helped millions of car shoppers and generated billions of dollars in car sales for dealers. Today, the company's innovative, consumer-driven flagship site, MyRide.com, expands the company's mission across the automotive purchase and ownership life cycle. As the first vertical search experience for the automotive marketplace, MyRide.com is designed to help Internet-savvy consumers FIND, SEE,BUY and LEARN anything automotive and BELONG to a diverse community of people who have similar automotive interests
By providing a convenient and comprehensive automotive consumer experience across the purchase and ownership lifecycle, Autobytel provides new value and touch-points for automotive marketers. Through MyRide.com and Autobytel's marketing network, the company connects dealerships with a steady, diverse stream of motivated, serious shoppers, while providing both dealers and manufacturers with precision-targeted brand and product marketing opportunities. The company's advanced web-based advertising and marketing programs also help dealers and manufacturers build relationships with customers, as well as help them to efficiently manage and convert online business.
1 Study was conducted January 2008 by independent research firm, Survey.com, and involved 204 nationally represented auto dealers who are on the Autobytel Rapid Response program.
2 Outsell Research 1/2007