Warren Buffet once said, “Price is what you pay. Value is what you get.” The distinction is one of great importance to car dealerships, and it’s why I want to talk about the difference between price and value. It’s also why, I believe, emphasizing the latter is how you grow your dealership. Studies have shown when it comes to selling a car, economic considerations, such … [Read more...] about How the Value of a Lifetime Warranty Beats Price Every Time
Success in the car business depends on a combination of important factors. One factor is profit, and profit is dependent on moving the focus of the customer from price to value. There is a common perception that all customers care only about price. Unfortunately, dealerships play a large role in creating this perception because nearly every dealer advertises PRICE, PRICE, … [Read more...] about Focus on Your Customer’s Satisfaction Instead of Low Price
By now, most dealerships have their 13-month financial statement in the books, and many dealer principals and GMs are saying, “We sold a lot of vehicles this year. Where did all the profit go?” Yes, the market has contracted a bit, but for most dealerships, profits have dipped further than sales. If the industry is projected to sell fewer vehicles in 2018, it’s even … [Read more...] about Increase Profits By Enhancing Your Culture Instead of Lowering Your Prices
Happy New Year from everyone at Binary Automotive Solutions! As you are probably aware, 2018 is predicted to be a slightly down year from 2017. But fear not, there is a great solution that can change the fortune of your dealership for the better. One major way to improve sales is to change the focus of your dealership. If you are currently planning to be aggressive on … [Read more...] about Will 2018 Be the Year of Culture Change at Your Dealership?
Customers . . . they seldom know exactly what it is they are looking for when shopping for an automobile. So, when they find something they like and they feel themselves getting close to buying, they instinctively give the “price” objection. This is little more than a reflex defense. We all do it sometimes. Then, what is it customers want? Value, protection, and peace of … [Read more...] about Set Your Dealership Up for Lifetime Profits By Giving Customers What They Really Want