When it comes to crushing your close rate, there are 4 crucial follow up factors you can implement today. I’ve developed these insights from monitoring over 80 of my transportation industry clients, taking note of who has the highest close rates — and why.
Keep reading to learn 4 follow up factors you need today.
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Limo Company Close Rates
The first question we need to ask is this: what is a good close rate? I’ve found that it varies greatly depending on your market and the type of service you offer. As an example, a higher cost service like an $800–$1,200 party bus or stretch limo rental will get more quote requests when compared to an airport transfer that costs $90–$100. This will affect your close rate.
The close rate guidelines I look for are in the 20–35% range. If you do airport transportation, your close rate should be closer to 35%, while I consider a close rate of 20% to be good for party buses and stretch limo operators.
Increase Your Close Rate: 4 Follow Up Factors
Once you’ve attracted a lead, you ideally want them to take the next step in the booking process. This often means requesting a quote through an online form. How and when you follow up after a lead requests a quote can make or break the sale. For a primer on pre-quote and post-quote follow up, check out this post on how the right follow up gets you 50% more bookings.
Here are the 4 most important follow up factors that can help you crush your close rate.
1. Follow Up Speed
As an experiment, I once had my assistant visit all my clients’ landing pages and fill out a quote request form. She would then document the time, and we would monitor the email and phone number we provided to see if the client followed up and how quickly they did so.
The results were shocking to me. These clients were spending so much of their marketing budgets on getting leads — they should have been following up as if their lives depended on it. Of course, it takes work, and it can be hard to stay consistent, but those who stick with reliable follow up strategies truly reap the benefits.
My advice when it comes to follow up speed is to get a quote out in under 5 minutes — or within 10–15 minutes at the most. How quickly you follow up can make a world of difference. If all you take from this post is the importance of following up as quickly as possible, I’ll consider that a win.
2. Method of Contact
We’ve covered how quickly to follow up, but how you follow up is just as important. SMS communication is key. If you only follow up with a lead via email, you are leaving money on the table. Even if you mainly work in the corporate arena, you should still utilize text messaging for follow up.
It can be tempting to use an email format that lets you include more details, like answers to every potential question the client might have. Remember, people ultimately want concise information. Keep your messaging short and sweet, and send an all-inclusive rate, including gratuity and fees.
If you are opposed to quoting clients via SMS, then by all means, send your quote via email. Just be sure to follow up with an SMS to ask if they got the email.
3. Post Quote Follow Up
When a client fills out a quote request form, you might send a quick message prior to sending out the actual quote. This is your pre-quote follow up. My recommendation is that you send an SMS within 30 seconds of a quote request to let them know you received their request and will send a quote within a specified amount of time.
Of course, you’ll want to make use of SMS templates and customer relationship management (CRM) tools to automate this process.
Once you’ve sent a client a quote, your post-quote follow up strategy is essential. I highly recommend leveraging software to automate follow up. If you aren’t providing post-quote follow up communication, you’re leaving money on the table. In my experience, SMS is better than email follow up. If you end up using both, it’s a good idea to stagger the times at which you send them. This makes it look a bit more personal and less automated.
4. Ticket Price
Your ticket price will have an effect on your close rate. It’s important to understand what your competitors are charging, which means you’ll need to do some research. I recommend you query a Google search for the same service you offer. Black car operators, for example, can search the phrase “airport car service” and take note of the top 3 listings. Fill out their quote request forms, note the time, and see how long it takes for you to get a quote. I also recommend paying attention to how they follow up, such as via text, phone call, or email. At this point, you’ll have a much better idea of what you’re competing against.
On ticket prices, my advice to clients is to never quote your lowest price. If a lead doesn’t seem motivated to move on to next steps after receiving your quote, you can always offer 10–15% off on their first booking as a first-time client discount. If you quote your lowest price, you’ll have nowhere to go to make your offer seem more enticing.
Limo Company Marketing Strategy
Limo, party bus, and black car transportation marketing takes a lot of know-how, but when you nail your marketing strategy, the returns can be astronomical.
Limo Marketer offers expert marketing training for limo drivers and others in the transportation industry. If you’d rather hand the reins over to a marketing professional and focus on what you do best, check out our online advertising, social media management, SEO services, and more.
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