We have been tracking some interesting data over the past 8 years. Data that proves that customers clicking ads on Facebook & Instagram are taking longer to convert than other sources. Our Text Message Follow Up system has enabled dealerships around the country to follow up with leads forever. It streamlines the follow up process and using automation and Artificial Intelligence, enables dealerships to follow up longer than they ever have before.
Let's dig into some actual data from one of our clients. Below is a ROI report for one of our clients who spent $5,221 on Facebook ads in October of 2021. They sold 26 cars at $201 per car sold. Well below industry averages.
The next chart shows a breakdown of when those cars were sold. They sold 6 vehicles in the first 30 days of running the ads. 7 vehicles on month 2, 6 on month 3 and another 2 vehicles were sold from those leads all the way in February of 2023.
1. Facebook Leads May Be Less Committed
When someone submits a lead form on Facebook, they may be less committed to making a purchase compared to leads from other sources. They may be in the early stages of their research process or just browsing. This means that following up with Facebook leads requires a different approach than following up with leads from other sources.
2. Longer Follow-Up Periods are Needed
The data we have collected shows that Facebook leads are taking longer to convert than leads from other sources. This is likely because they are still in the research phase and need more time to make a decision. By following up with leads forever, you can stay top-of-mind and provide value throughout their research process. Our Text Message Follow Up system makes it easy to automate this process and ensure that you're following up with leads consistently over time.
3. Building Relationships is Key
Following up with leads forever is not just about making a sale, it's also about building a relationship with potential customers. By providing value and being helpful throughout their research process, you can establish trust and position your dealership as a helpful resource. This can lead to future sales and even referrals from satisfied customers.
The car business has notorious been focused on the immediate conversion because the traditional CRM process is very cumbersome. Most leads in the car business are followed up with for a week in most cases. The chart below zooms out to all the Facebook advertising this client has done. As you can see, the cost per car sold is very low, it just takes patience and a lot of follow up. This client's pipeline is so full, that it consistently produces 20-30 extra car deals per month, from their $5200 in Facebook ad spend.
In conclusion, following up with Facebook leads forever is crucial for success in automotive social media lead generation. By using a Text Message Follow Up system, you can streamline the follow-up process and ensure that you're following up with leads consistently over time. This can help you build relationships with potential customers and ultimately lead to more sales for your dealership.