Be First, Be Focused—Move More Metal
If you want to sell at least one additional car or service every day you’re open this month, you need a plan. The plan I suggest will position your dealership to do this. It will help you be the first provider in your market to offer existing customers deals they’ll want to make happen!
Dealers following this plan sell up to 100 or more additional units a month. Their service departments boost parts and labor sales tens of thousands of dollars a month.
You already know this strategy works: Be first to offer customers free safety and performance inspections and you’ll sell more brakes and repair more leaks; be first to offer free alignments and tire inspections and you’ll sell more tires, brakes, shocks, and other parts and services.
Gaining this “first” advantage in the showroom, however, is challenging, given the nature of car sales. To gain this upper hand you need leverage. This leverage is data mining. Data mining can help you discover unique opportunities hidden in your customer records. The right data mining strategies convert these untapped opportunities into sales.
This sort of data mining will help you:
· Discover existing customers inclined to purchase today or in the near future
· Identify the right offers they’ll find appealing and timely
· Be cognizant of significant mileage penalties looming or warranties about to elapse
Here’s what to look for:
· The right customer whose vehicle ownership equity, history, and mileage make it attractive for them to trade early and often.
· The right offer is economically attractive. To drive a newer car with no money down, for about the same monthly payment, appeals to human desire and may offer a way to avoid previous mistakes or penalties. The right offer also punches through objections, dispels car sales stereotypes and brings customers back into the showroom.
· The right time is crucial to identify and capture when all elements of the sales formula merge with the customer’s desire to entertain your offer.
By presenting offers designed to satisfy the needs of your existing customers and are timed to their advantage, it is entirely possible to sell more vehicles, capture valuable low-mileage trade-ins, sell additional service contracts, and encourage additional parts and service patronage.
How you package your offers and then present them to your customers is crucial and a topic for another article.