True/False
Most customers are going to be completely comfortable when coming on lot, so we just have to get them to sign.
False - Most people are going to be outside of their comfort zone and it is our job to make them more comfortable by building rapport.
What does it mean to give customers too much information?
Most customers do not care about 100% of the features of a vehicle and will get bored and/or overwhelmed if we try to sell every feature.
Why is it important to know your inventory?
So you can choose the right vehicle for each contact you have
Define urgency.
Urgency is the fear of loss if they do not buy or trade today.
When asked, "How can I help you?", 72% of customers will respond like this.
"We're just looking."
It's okay to curse in front of customers to build rapport, as long as you're careful and they do it first.
False, you are the professional. You don't have to be stuffy to be professional but you also don't have to throw professionalism out the window to build rapport.
What happens if you don't have enough product knowledge?
The customer, who spent a week researching this car, will know more than the "professional" - why would they buy the car from you then?
How do you get to know your inventory?
Walk the lot 2x per day, including all those cars in service, detailing, and out in the storage lot!
Why do we want to create urgency in a sale?
To raise the value of the purchase, to lower the value of the trade - all without every mentioning price or trade values.
71% of people buy or do not buy for this reason.
They like/trust or dislike/distrust the salesperson and/or the dealership.
what does SPACED stand for?
Safety, Performance, Appearance, Comfort/Convenience, Economy, Dependability.
A customer asks for a specific car that we do not currently have. What is the best way to turn that shopper into a buyer?
Step one: Head towards the lot so you have a chance to expand your inventory - "Well let's go see"
Step two: Ask, "What's your second favorite color?" - continue as you would during any other sale!
A customer is on the lot and they ask, "Do you have a white one?" What is an appropriate response that builds urgency?
"Gosh, if we're lucky. This is one of our most popular models and white is the most popular color." Then when you find the white one, "We're in luck! This one is available if we hurry!"
__% of the selling is done on just __% of the features product.
80% of the selling is done on just 20% of the features product.
When in conversation, the person asking the questions is in control of the conversation.
True! - learning to ask the right questions at the right time is learning how to sell
What does FAB stand for? How do we use them? Give an example.
Feature, Advantage, Benefit; Use them to give presentations based on a customer's hot buttons
ex. F) rear camera; A) wide-angle view with in reverse; B) safety and convenience when hooking up to the hitch.
What is the significance of the following statement:
"The demonstration is the step of selling that leads directly into the closing process."
The demonstration is the highest emotional point in the selling process, which means an effective demo is critical to building value and closing the sale.
When on the lot, if a customer says they have a trade, how do you respond without discussing price but also while building urgency?
"It's a good thing you're trading that in now; we've been getting a lot of those and the value has been dropping $300-500 per month. The sooner you trade it in, the more you'll get."
6% of people buy if a salesperson spends 60 minutes of less with them; 31% buy if a salesperson spends more than 72 minutes with them; 57% buy when the sales person spends more than 100 minutes with them. What do these statistics suggest?
The more time you spend with a customer, the more likely it is that you will make the sale.
You'll have to deal with price and trade-in value questions and objections in 90% of the sales you make.
True! - If you knew it was going to be cold today, you would've brought a jacket, so why not prepare for those objections you know you're going to get almost every sale?
What does it mean to "sell the sizzle"?
Sell what it does not what it is! A steak is only as good as it's cooked!
1) Recognize - See how the technique works
2) Duplicate - Copy, word for word, the technique
3) Master - PRACTICE until using the skill is a reflex.
There are plenty of reasons why customers should buy RIGHT NOW. Give three examples.
Only one like this; the sale is almost over; end of rebates; inventory only gets smaller; prices go up; trade values go down; we are looking for trades just like that; etc.
__% of people who go out and look at a vehicle will buy one. 38% of people will buy within 4 hours, 57% buy within three days - __% will buy within one week of stopping at the first dealership.
78% of people who go out and look at a vehicle will buy one. 38% of people will buy within 4 hours, 57% buy within three days - 90% will buy within one week of stopping at the first dealership.