Are you missing leads? Is your sales funnel falling short? Paul Potratz, chief operating officer of Potratz Automotive Advertising, calls this “leakage.”

In his latest “Think Tank Tuesday” video, Potratz explains just how much of an impact leakage, or lost leads, can have on your business, and how to minimize this issue.

“Leakage in your sales organization and sales process can be very disturbing – it can cost you money, a lot of money, and it means missing out on opportunities,” said Portratz.

Where is the leakage in your sales organization?

Potratz explained every day you have opportunities and leads coming into the dealership that your sales team has to handle.

“Say you have 1,000 leads, what is the next step? You pick up the phone and you call them, or you send them an email – how many are we establishing contact with? Let’s assume you establish contact with 500, or 50 percent, but the other 50 percent of them is leakage. Howdo you increase process and cut down on leakage?” Potratz asked.

Potratz says the answer is simple.

“Make sure your team has the resources, confidence, knowledge, tools, and ability to minimize the leakage. Set your goals, and work towards them. Don’t be afraid to readjust,” he shared.

To view the latest “Think Tank Tuesday” video, click here.