 There’s a real dilemma when it comes to research on how people buy cars. Sales managers love to quote data that suggest customers (first time shoppers) who are shopping the dealership will buy within 48 hours. They use this data to prove to salespeople that if they don’t sell now, there’s no way the customer is coming back. In other words, let’s get the Closer out there because it’s now or never.
On the other hand, research also suggests that most customers buy after the 2nd visit to a dealership. What that means is that no matter how good a job a salesperson does, the odds are that the customer is going to leave without buying. Most sales managers don’t like to share this information with their staff because they’re afraid that salespeople won’t try to sell the car now, if they know their odds of making a deal are reduced by statistics. That’s understandable, but there is a balance that must be recognized.
You’re not buying this, are you?
Okay, go to your log sheets (provided they’re accurate) and track your top salesperson. If they still take first time visitors (some only take repeat and referral customers), track their percentage of closing on the first visit. At the very best, it’s possible for them to be around 35%. So 65% of the people they greet will walk without buying. Now track their percentage of closing on customers who have returned a 2nd or 3rd time and you’ll find their closing ratio to be 60% or better.
Keys to Success
Only two or three factors generally make the difference for top performers:
1. They build rapport with the customers quickly
2. They listen and match what they heard with specific solutions
3. They follow up quickly and regularly after the customer leaves
The only thing that seperates you from the competition these days is service and relationship. Customers are looking for someone they like and trust, so it’s normal for them to shop around until they find that person. The differentiator comes when they shop the next dealer and they encounter the typical "are you buying today" high pressure approach. When they get home, the only person to call them and thank them for their visit is you!
Are you a top performer? Share your success story with us and others by posting your comments here… |
