Good question—and one we had the Foureyes Data Science Team explore. The short answer is: Demand peaked 9 weeks ago, but after falling, the last 3 weeks have trended up. Quality lead traffic, however, is still trending down.
Let’s get into the details. First, let’s talk about what we’re looking at. I asked our Data Science team to provide a view of weekly lead volumes per dealership. They provided this for 2021 (the blue line), 2020 (the gray line), and 2019 as our last “normal” year (the black line) to assess natural seasonality.
You can see the peak appears to have come nine weeks ago, trended downward, and then popped back up three weeks ago. And for the first time, we’re starting to see some seasonal consistency when compared against 2019. 2021 is of course higher, but the shape of the lines is becoming more similar.
This got us thinking about the qualified lead volume, so we isolated the data to only sales-ready leads. Looking at it that way, there is a more consistent downward trajectory since the peak nine weeks ago—meaning your teams are likely fielding a lot of phone calls, forms, and chats, but the number of sales leads is coming down. Last week’s qualified lead volume was still 26% higher on average than during the same week in 2019, but yes, it is starting to drop.
I’ve heard from a lot of dealerships who are still running lean in sales and need help making sure that their qualified leads never go to waste—especially as they predict lower lead volumes in the coming weeks. It’s why Foureyes has free tools available for dealers with no strings attached during this time. You can sign up for free or talk to someone on the team for 10 minutes. They’ll get you the help you need to maximize every lead when your inventory is there—today or 60 days from now.