Key Insights Into Managing Your Dealership's Drop Rate

Hello, everyone, and welcome back to another volley rally. Today, once again, Scott and I have something really interesting to share with you again relating to inbound calls. But it's, it's key insights that, that will really help you think about how you need to manage the BDC in terms of inbound. So, Scott, how's it going today?

Doing great. It's. It's as great as it was a little bit ago. Having a great day. Thanks, Jake.

Awesome. Well, let's go ahead and dive in. Today we're going to be talking about your drop rate and your missed calls that you have coming into your bdc. So how should you look at the drop rate?

Well, the people who are calling in, they're trying to do business with you. So we always want to try to serve obviously, as many as we can and please them. There are times where you're going to have more agents or more calls than agents on staff. So even if you're perfectly staffed, you're going to have a drop rate. And the thing is how you manage that really matters. So when we look at the data, 62.8% of the people who drop do not call back within seven days. But of those people, 74% had a previous appointment in the, in the DMS. So these people are buyers. You know, hopefully they're all calling for status checks. And we didn't miss some revenue, but it is very punitive generally when they drop.

Yeah, it's like you said, these people are trying to do business with you, so we want to make sure that we don't miss them. Especially you know, going back to the volley session we did last week with Greg. As you help to manage your defection, definitely calling back the people who are trying to call you is crucial, don't you think?

Yeah. And it's hard to manage the drop rate. One of the most surprising stats that we found on the, on these millions of calls we looked at was 43% of the customers dropped within 30 seconds. People don't like to wait on hold, so. And really, it tells me they're a little pessimistic about being helped. So. So, you know, we want to help you help your customers.

Well, people definitely, myself included. I'm sure you, and I'm sure most people listening to this don't have a ton of patience for hitting the IVR themselves. Yeah, when you get the robot, you kind of want to be done right. So what else do you see? Well.

One of the goals that you should have is to empty that callback queue every day, make sure. Everyone who tried to reach you left voicemails or just dropped and didn't that you called back. The interesting stat. 53% of these people will answer and, and 34% of them will make appointments. So when you. We didn't take out status checks into that callback number. So just know that is a gigantic number of people that were looking for help. And if you're not doing that, you're missing revenue. So just, you know, make sure you look at that.

Did you say that 34% of the people who you call back then make an appointment?

Yes. And in that 34% that we computed, I did not take out status checks. So if you're a bdc, that takes a lot of status checks. Just keep in mind that's a very high number. And a lot of revenue.

Lost a lot of revenue. A lot of people trying to make an appointment. So I mean really if they're not there calling for a status check, that's why they're calling into the service department. Right. To generally to make an appointment.

So.

Awesome. Well, any last thoughts here for. For everyone?

No, I mean it's it. It takes work to. To run a service bdc. Your first goal should always try to be to make the people happier trying to do with your business with you and then you can grow it from there. So awesome. This is helpful.

Awesome. Well, thank you everyone for tuning in today. As always, like comment and subscribe. Let us know what other insights into the BDC that you that we gather that you would like us to talk about and have a great day.

See ya.