In The Know Joe: Lets Get 2012 Rolling
Edition: January/February 2012
Signs are looking good that the economy is beginning to turn the corner. Don’t wait for it to come to you….go after it now with all the tools you have available! Several tools and/or approaches to your business can help you draw more customers to your dealership and help you close more sales. Here are some to consider:
• Create a compelling reason for them to buy now
• Make your Website user friendly and inviting for them to visit your dealership.
• Qualifying Customers well to improve yourclose ratio
Create a compelling reason for them to buy now
Today’s shoppers are more savvy than ever before. They do their homework….shopping on the internet, calling multiple dealers, even before they visit a retail outlet to finalize their purchase decision.
Keeping this dynamic in mind, here are some ways to draw potential buyers to your dealership and help motivate them to make a purchase decision before they leave:
• Ensure every vehicle is marked with a price. Buyers have increased trust when they don’t have to guess whether they are being “sized up” before they are told what the vehicle costs. It is best to show a suggested retail with a “buy today” special price. Consumers want to feel like they are getting a value price.
• Create an image of value through advertising and in store merchandising. “New fully loaded Golf Cars starting at $4,995” and “Used Golf Cars from $1,995” is a great way to create a value image. Try putting a windshield sized sign on vehicles in front of your store if it is located on a well traveled road. Star EV has new fully loaded 36 V golf cars that cost less than $3,600 dealer cost ready to roll off the truck and sell off the floor.
• Many budget conscious or fixed income individuals may elect to buy if they can do it via a small monthly payment with a reasonable interest rate. Be sure to utilize Sheffield consumer financing to price your vehicles with a low price per month. Mark several of your vehicles in store with “only $99/month” price bursts. Many manufacturers are offering their dealers these types of subsidized consumer offers…don’t let them go to waste. Star EV has three offers under 4.9%.
Ensure your website is “shopper friendly” You want to make it easy for people to navigate through your website and get to where they want to be as quickly as possible. Does your website:
• Have a logical sequence? Make sure your home page has tabs for how consumers think about their purchase. They shop vehicle type first (Golf Cart; Street legal; Lifted/Hunting; etc.). Then, they shop by brand or price. If you offer multiple brands, consider segmenting by “good, better and best” or by “starting from $XX”.
• Highlight all other important elements that buyers look for. Accessories, consumer financing options, service hours; warranty information; and, of course, the qualities that set you apart from your competitors.
• Call buyers into action with weekly or monthly specials. These could be financing options with low monthly payments, free accessories, hot price point while supplies last, etc.
Close the sale
When you get the prospective buyer in your store, it is critical that you and any of your employees with customer contact know how to qualify buyers and close the sale.
Qualifying the buyer means understanding what they really want and what they need. Here are a few key questions to ask when qualifying a prospective buyer. How will you use the vehicle? Will you drive often on steep hills? About how many miles a day/week will you drive? Where else have you shopped? What is your favorite vehicle that
you’ve seen so far and why? Do you have a trade in? Would you buy today if you find the right vehicle at the right price?
These few simple questions can help you sell the right features and benefits that match the application of the consumer.
Good closing techniques are also key. Many sales people try to talk too much and/or oversell. Here are a few key points to help improve your close ratio:
• Once you have qualified the prospective buyer, get them to test drive the vehicle. Experience and feel is important to most buyers.
• Once you’ve qualified your perspective buyer, sold the features and benefits (and potential test drive), then use “trial close”….do you want me to write up the ticket on the red one or the blue one? If they are not ready, then you will use your objection handling skills to get them in a position to buy.
• Avoid letting the buyer leave to “shop around”. If the vehicle you have matches what they need for their application, use your tools (i.e. consumer financing, special price, free accessories, extended warranty, etc.) to close the sale. Don’t let them leave your showroom. If they leave without buying, chances are, you will never see them again.
2012 is here! It is time to improve your go-to-market strategy and build up the level of your team. No one likes change. However, if you don’t continually raise the bar, your competitors will run past you.
Let’s sell some EV’s!!
