Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Dennis Galbraith

Dennis Galbraith Chief Marketing Officer

Exclusive Blog Posts

How to Trade Binary Options Successfully

How to Trade Binary Options Successfully

Binary options are the new age trading. It sounds pretty simple: you invest your money, choose one platform, choose a broker. Choose a strategy you’l…

Design: The Driving Factor Behind Showroom Sales

Design: The Driving Factor Behind Showroom Sales

Many factors go into creating a successful showroom. While often overlooked, design plays an essential role in the customer experience and overall success …

5 Reasons You Should Seek Out Consumer Generated Content

5 Reasons You Should Seek Out Consumer Generated Content

It may seem like a good idea to always be the one writing about your dealership, but in reality consumer-generated content is as important, if not more so,…

DealerRater Reviews now Available on Cars.com

DealerRater Reviews now Available on Cars.com

DealerRater pushed a press release today that they have pushed reviews to the Cars.com Platform. According to the press release, this is about three millio…

Why Should You Attend NADA 2017

Why Should You Attend NADA 2017

As you investigate the possibility of attending NADA in New Orleans this year, you might be questioning the benefits of attending. It’s possible that…

Demonstrating the Value of New Cars

Regardless of how you price your new vehicles, the sales team must be able to demonstrate the value of them. This is one of the many ways the internet has changed floor sales.

If the customer wants a BMW 328i Sedan, you have lots of them with varying packages and options. Some of these features may be must-haves and some may be things the shopper definitely does not want. However, some of the vehicles in the shopper's consideration set will undoubtedly come with features that add to the price yet the shopper is not certain they need. The benefits need to be explained in order to help the shopper determine which vehicle is the best value for them.

This seems so obvious, yet I can't find a single BMW dealer whose website facilitates this decision making. Additionally, I'm sure I can walk into any store and find a salesperson that functions as little more than a query tool, "Do you want this or do you want that?" Of course this inevitably leads to the customer finding that the color they want comes with an option or package they already said they don't want, leading to the desire to keep looking for the perfect vehicle at other stores.

If your website and your salespeople cannot demonstrate the value of each package and option, you simply are not selling as many vehicles as you could be. Maybe the sport steering wheel with paddles is not worth $100 to the customer. However, if you can demonstrate at least some value in the fancier steering wheel, it may not be worth additional shopping to find the perfectly configured vehicle.

It's important to know how each feature can enhance quality of life and contribute to resale value. When resale value is considered, most shoppers are not paying full price for the options they receive full benefit from. If the customer is considering a lease, it is important to be able to discuss options, packages, and accessories in terms of what they add to the lease rate and how they benefit the shopper.

In the age of transparency, sales people cannot go around making this stuff up on the fly. When I began selling cars, the store was the information source. The shopper had very few alternatives from which to gather information. That is far from the case today. If you want to sell cars, you've got to be able to demonstrate the value of them, every little piece of them.

 Unlock all of the community & features  Join Now