Scott and Jake break down six metrics that matter for dealership BDCs: agent efficiency, drop rates, callback percentages, inbound and outbound call volumes, answer rates, and conversion rates. Know these numbers to run your department better.
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And welcome back to another volley rally with Scott and I. One final one in this little mini series where we've been taking apart a lot of this data that we've been putting together. But I think this is one of the most important ones that we're doing because we're going to try to tie it all together here. So Scott, today I want to talk about the numbers and stats that we recommend you benchmark to when running your BDC in the dealership. So with that said, there are six different things that I want talk about here today. And, and you're going to share these benchmarks with us. So first off, your agent efficiency. What is, what does this mean? And, and what should you benchmark to?
Yeah, thanks, Jake. And I'm going to back up just a little bit of court. Okay, so the numbers can vary based on what calls you're making and the size of your PDC and what you're doing. The real key here is, is that you're tracking these. You're trying to make your, all your agents look like your best agent. You're, you're running are good numbers that we've seen for a lot of our service BDCs. Agent efficiency. If, if in the tool you're using, if the agents will be on.
Scott and I, one final one in this little miniseries where we've been taking apart a lot of this data that we've been putting together. But I think this is one of the most important ones that we're doing because we're going to try to tie it all together here. So Scott, today I want to talk about the numbers and stats that we recommend you benchmark to when running your BDC in the dealership. So with that said, there are six different things that I want to talk about here today. And, and you're going to share these benchmarks with us. So first off, your age and efficiency, what is, what does this mean? And, and what should you benchmark to?
Yeah, thanks, Jake. And I'm going to back up just a little bit. Of course. Okay, so the numbers can vary based on what calls you're making and the size of your PDC and what you're doing. The real key here is, is that you're tracking these. You're trying to make your, all your agents look like your best agent. You're, you're running your business. These are good numbers that we've seen for a lot of our service BDCs. Agent efficiency. If, if in the tool you're using, if the agents will be on the Phone engaging with the customers, about 85%. That's about 50 minutes an hour. That leaves them time to, to use the restroom, go to lunch, run a dealership errand. But 85% is the level we look at so that you can hit these other numbers here.
And when you say 50 minutes out of an hour, does that include wrap up time, note taking, or does that literally mean the time?
Yeah, no, yeah, productive time. So things are doing to help the customer. Of course, those are separate stats. You need to manage those as well. But as a whole, about 85% efficient is good.
What is the second stat we're going to be looking at here?
Drop rate. Are you making people happy who are trying to do business with you? So we like to see this at least under 6%. A lot of, a lot of people shoot for 6 to 9%. We have, we have some dealers that shoot for 3%. When we look at overall statistics, the dealers that keep this under 6% do a very good job with their phones and making, you know, people happy who are trying to do business with them.
One of the cool things that you can do in volley is put all of these customers who you miss into a bucket or you can call them back. But obviously you don't need volley to be doing that. In particular, any dialing tool that you can, that you're using should be able to track this, don't you think?
Yeah. And really the real key here is, is your callback percentage should be 100%. People are looking for help. You need to empty that queue every day. The good thing is the answer rates are 53%, 34% without even taking out status checks, will schedule an appointment. 74% of those people have a previous service in the DMS. These people are buyers. That callback percentage needs to be 100%.
Okay, so fourth, inbound or outbound or both. What do you typically see with agents?
It's all over the board. But the real key here is are you benchmarking each of these separate? A lot of the BDCs, they say, oh, GR agents do a 100 calls a day. That's what they're responsible for. They do 60 a day. Do they do 80? You need to benchmark inbound calls from outbound separately so that you make sure that they're, they're calling these customers to schedule these service appointments. In Valley, our customer success reps work to help get the dealers up to two attempts for every, every one inbound calls they make for outbound, you need to track them differently and, and you'll see big results.
And when you get them making outbound attempts, what do you expect to see with your answer rates?
Of course, it definitely depends on what you're calling on. If you're calling on someone, a group of people who haven't been in in a year and a half, the answer rates are going to be different than your folks who are just due for service. But generally on service retention, we want to see a minimum of 30 to 35% on that list, if not you. We've talked about this in other, other podcasts. We don't need to go back into it, but you need to check your lines, you need to make sure that none of your calls are being flagged for potential spam or, or potential fraud. And you need to look at your list. Do you have a bunch of junk in the list, Are there a bunch of duplicates, etc. Keep looking at that.
So with the people who you do connect with, finally, what, what is the conversion rate that, that you're looking at?
Once again, it depends on the list. If, if they haven't been in for a while. But with service retention, what I like to benchmark too, and we've got a lot of stores over this, but 30% of the people you speak to, you schedule an appointment for you do that. You know they're doing a very good job on the phones. They're here to help people. And in an outbound call, people should look at that. A customer is looking for help, even, even on an outbound call, you know you've got them at the right time, do a good job of them, benchmark that, see if the number of people you're speaking to, how many of them schedule an appointment, shoot for 30% of the people you connect with.
And Volley will help you track all of this. And if you have any questions on, on these or any other benchmarks that, that you can look towards in Volley, feel free to reach out to us. Let us know if you have any questions or would like us to expand on any of these. Scott, any closing thoughts here?
No. Have a good afternoon. Thanks, everyone.
Yep, have a fantastic day.
See you.
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