Auto Sales 101 – Product Selection And What To Land Your Customer On
Lots of sales consultants have integrated an outstanding meet and greet at the beginning of the sales process, of course we practice this task everyday so there’s very little that could go wrong in that crucial first step. It’s where we branch off from that point that have lots of us stumbling or confused. Naturally, the consumer would simply go to a specific type of vehicle and the salesman would hang out with the buyer and follow their every lead. At this point in time, the consumer has complete control of the process by leading the salesman to each and every single car until the right one pops out, and in the mean time the salesman is being bombarded by an endless supply of questions. Plus we are so used to downgrading our inventory by asking “Looking for new or used?” or “Are you looking for black or blue?”. We have all been guilty of this before, and it is a natural way the sales to customer relationship is regarded. This is an important step so treat it as one. There are many ways the sales consultant can take control from any one point in the process. So let’s examine this particular process and find innovative ways to further take control of the customer’s wants and needs.
Sales consultants have to first understand the driving forces in the market to be able to custom tailor an effective product selection. Back 40 years ago, muscle cars were all the rage and it was easy for buyers to land themselves on that niche market. And ten years ago, sport utility vehicles made it’s mark into a hotly successful arena. And today, sport utility vehicles are still a good seller, but economical cars are what its all about. So be sure to integrate today’s current trend into your script. We all know that suv’s are twice the car, twice the gas, and twice the price, stress this at the offset and don’t be afraid to say so. You would be pleasantly surprised how many buyers I have switched by saying this. Additionally, use the current market trend into the script, such as, “You folks are probably here for that inexpensive economy car like everybody else is?”. Doesn’t that make sense? First of all, it’s true, gas is a driving force on everybody’s pocket book right now, and your putting into the customer’s mind that everybody is buying them. It’s not you or the dealer that’s just pointing that out to sway the customer into something else.
Additionally, understand what buyers are thinking. We all know that a $400 payment is easy to sell a customer, regardless what car they are buying, so be prepared for that. But getting them into that $70k Range Rover at the start would not make it easy for the salesman to sell the idea of a $1500 payment, chokes many of us just thinking about it. Sometimes the buyer’s desire to own something above and beyond their means can trap most sales consultants in the negotiating process. So with the easy word tracks above, we can easily start at the bottom of the price points, and if the buyer doesn’t like what’s available, they’ll simply bump in price and payment. And as a result, you can use this switch as a vise grip in the negotiating process. “I’m sorry folks, you can’t afford $1200 a month and I can understand? Well I explained to you the car you chose is twice the car and twice the price.” And at that point if they understand the basic math, it would make it a whole lot easier to switch to a cheaper, similar car. In the end, it’s all about setting up your customer for an easy sell, again make it aware to them the scope of the price without actually talking price or payment on the lot.
Conclusively, the product selection step is important to make sure you can make the most out of your commission. Because the less you have to discount off that $15k pre-owned car, the more money and spiffs you can make. Play around with your own wordtracks and see what will work in your local market and customers. It’s all about adapting to your customer preferences that can lead to a successful and quick sale. And more importantly, be interested in your customer’s wants, ask all the questions to get the customer involved. Questioning is what controls the conversation, keep this in mind and use it until your tongue falls off. Aren’t all the customers that pay all the money the most satisfied? Ummm…yeah, that’s exactly what we’re looking for.