Ask any auto dealer who has tried to put on an event sale; getting a prized promotion right can be tough. So tough, in fact, that many dealers avoid doing event sales all together. They claim that the gift grabbers and prize haters are too distracting and it makes it harder for their sales staff to sell cars.
Admittedly, we’ve found that if you don’t have a plan in place, this will be true. With a solid strategy, we have seen many dealers sell record numbers of cars over event sales. Dealers without a strategy, however, often struggle to break even on their events. Here are just a few tips on how you can cash in big on your next event sale.
Qualify Every UP
A common reason dealers don’t run event sales is because they want to avoid “gift grabbers.” By having a plan in place to qualify leads, you can very quickly determine who’s a buyer and who’s just a moocher. All you need to do is make sure that each UP is asked a few questions in a systematic way. Try asking:
- When they’ll be in the market to buy
- What kind of car they currently drive
- What kind of payments they are currently making
This can be recorded with the assistance of UP cards, a spreadsheet, or a program like FATWIN that has these questions baked into the software.
Call on Every Hot Lead
This sounds simple, but dealers forget about it more often that you’d think. Don’t forget to call customers in your system who you know are in the market to buy. People tend to procrastinate, and an extra phone call can be what makes the difference between someone spending their Saturday on a test drive versus on the couch.
Make sure to assign lists to your salespeople and schedule times that each salesperson should dedicate to calling. If you can provide them with a script, that would be even better, but the bottom line is that every hot lead in your system should be getting a phone call.
Sell the Right Cars
Customers who attend event sales tend to prefer used cars at lower price points. If you have the right inventory, you can move a lot of units during an event sale, but if you’re pushing 2014 luxury cars, you may come up dry.
At the end of the day, the most integral component to event sale success is preparation. If you follow these three tips, you’ll be prepared to move more cars at your next event sale.