The Vendor Performance Report (found in Vistadash > Conversions > Leads > Vendor Performance) is a fantastic lead reporting tool that can help you determine the quality of your leads from the different providers in your CRM. Here’s a breakdown of what you will see, and where the data comes from:
The breakdown of each column seen on the Internet Leads Vendor Performance screen is as follows:
Leads – Leads reported by the CRM Vendor
Calls – Calls reported by the Call Vendor + Calls reported directly by the specific provider (if available)
Chats – Chats reported by the Chat Vendor + Chats reported directly by the specific provider (if available)
Website Refs. – Website visits received as referrals from this provider, as reported by Google Analytics
VDPS – Vehicle Detail Page Views received as referrals from this provider, as reported by Google Analytics
Appts – Appointments reported by the CRM Vendor
Shows – Shows reported by the CRM Vendor
Sold – Sales reported by the CRM Vendor
Cost Per Lead – Total Cost/Leads
Closing Ratio – (Sold/Leads) x 100
Total Cost – Budget amount entered for vendor
CPVS – Cost Per Vehicle Sold: Total Cost / # Sold
Using the data shown, we can determine how many leads a vendor provided, how many appointments were scheduled, how many shows, how many vehicles were sold, the cost per lead (based on the “Total Cost”), the leads closing ratio (percentage of sold vehicles from the leads), the Total Cost (based on the budget for that vendor entered in Vistadash’s budget tool) and the Cost Per Vehicle Sold (based on the “Total Cost”).
Determining a strong vendor goes beyond the CRM data and cost analysis; however, we can determine the quality of the lead by looking at all leads and noting strong closing ratios (10% or higher), costs per lead (the lower the better), and Cost Per Vehicle Sold (the lower the better).