CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
We are living in an era of promotion, negotiation and sales. In the ultra-competitive car selling world of the 21st century, it is not preposterous to say that sales is everything; in 2017, even the President of the United States has a strong background in selling.
As a business process and as a constant economic cycle, the act of selling is comprised of various stages. Most car dealerships split their sales process into too many process; in some cases, one person may sometimes be assigned to handle all steps of the process while in other cases members of sales teams may focus on a single stage.
The sales process always begins with product knowledge followed by lead prospecting and marketing. This involves email drip campaigns that are geared toward your target audience. The next steps involve qualifying buyers, making a proposal, overcoming objections, and closing. The final stage is the most crucial in the process; for this reason, some companies choose their car sellers to take on a dedicated closing role.
Closing Stage: What Does That Mean?
Many people believe that closing is a religion while many others consider it to be a mere formality that caps off the preceding stages of selling. Closing on a vehicle is always better when strategic planning has been conducted prior to kicking off the sales process.
Overconfident car dealers who believe that attitude is everything in relation selling tend to focus on the closing stage; however, this may not always be the best approach. Closing a sale does not have to be a battle or an exercise in psychological persuasion, it should be the smooth conclusion of an even smoother process.
Getting to closing stage will require the following:
Where are the Good Buyers?
Good car dealers are easy to find; good buyers and consumers, on the other hand, tend to hide in plain view. Identifying and reaching out to the ideal car buyers is the first challenge that car dealerships face. The role of a decision maker is not clearly defined in every household; when this is the case, car dealers must adjust their pitch so that it appeals to a prospect who is really interested.
Understanding the Needs and Interest of Your Buyers
A car dealer can easily come across as being too pushy and selfish if he or she fails to cater to the interests of their prospects. A SeneGence distributor, for example, will always try to keep prospects engaged by highlighting products that fit their lifestyles. A young and fashionable woman who enjoys the nightlife may be interested in lipstick that can look great even after a passionate kiss. An active woman who spends a considerable amount of time outdoors may be more interested in anti-aging makeup.
Not too Late, Not too Early, Just in Time
Many people say that sales is everything while many salesmen explain that timing is everything in sales. When prospects are not ready to buy, sales professionals should not rush them to closing. Be a resource of help and knowledge for them. If they need to reduce their debt before purchasing a car, don’t be afraid to recommend debt relief services to them. Most purchases are made out of necessity. To this effect, closing a sale is highly contingent upon identifying a need and presenting a solution. The timing of a sale can be advanced by means of creating a sense of urgency; this is fairly common in car sales when market conditions are rapidly changing.
Don’t Be Afraid to Ask for the Sale
Even the best car dealers selling the best cars at the most affordable prices cannot expect a high closing ratio if they do not ask for the sale. Not all prospects will show a willingness to buy; first of all, the salesman needs to know when to ask for the sale for the sale. The next step requires confidence and making the prospect feel that they are making the right choice.
In the end, closing may be a vital stage of the sales process, but it should not be treated as the only one. It is important to plan ahead and reach the closing strategically.