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Building an Online Sales System In all of our research I have tried to determine what makes an Internet department work. At first glance you may think you need a $50,000 Web site with all the bells and whistles, yet I have meet dealers that have Web sites that, well, frankly they suck, yet are still selling vehicles. So maybe it is the salespersons themselves, a new and different breed of human, who can anticipate the Web shopper’s every move. But to my disappointment after interviewing over 900 Internet salespeople, that really wasn’t the case either.
So I took what I thought were top Internet sellers and documented exactly what they did to effectively sell cars online. I probably annoyed most of them because I asked so many questions and never left them alone. To the brave souls who allowed me to invade their lives, I thank you. The weird thing is that they were almost all different except for one thing. They have all implemented a system that they follow religiously on every prospect. Step by step, they never deviate from their set schedule of prospect management. At that moment I realized; it is all in the process.
So I ask you; what is your process? Is it documented from start to finish? Are you improving it at every weak link and every time you lose a prospect? Today, I am going to give you some hints on how to build your own sales process that will work for you at your dealership with your Web site under whatever conditions you face. The first key is to break down step by step what it takes in your dealership that is necessary to complete a successful vehicle transaction. An important note is that you need to be as detailed as possible and uncover all the steps that are taken with a prospective client.
Why would anyone want to take the time to do this? You are probably saying I am too busy selling cars to take the time and write this all out. Take the time: It is well worth it because after you are done I can guarantee that you will sell the same amount of vehicles while using up less of your time so that you will be either able to sell even more cars. So what will really happen after you write out your current sales process? First it gives you a starting place. Second it will allow you to find weaknesses in your Internet sales pitch.
Before you go into the sales process it is important that you ask the prospect if he has ever purchased a vehicle online before. This will give you the opportunity to explain how it works, including the process and what the advantages are of doing business with your dealership. Build value on the first step of your prospect relationship. I have broken the transaction into four key areas. 1. The Vehicle Helping the prospect determine the best vehicle for him since in today’s Internet world, prospects are overwhelmed with offers and products.
The role of the salesperson is changing into a consultant’s role; where your job is about helping the prospect sort through all the information that is available online and also helps in determining the prospect’s needs. In our research, customers want to pay a fair price for a vehicle and not get put through the same processes normally associated with their vehicle purchase. 2. The Trade-in Managing trade-in values is a critical point in building a quality trust between you and the Internet shopper.
We believe in using Kelley Blue Book to set the stage for a very effective trade-in process. We call it reality management for the Internet shopper. Let me give you an example. If a prospect calls the bank and gets a payoff of $12,000 they might ask the bank how much his vehicle is worth. The bank, to save face, will tell them about what he owes is a reasonable trade-in figure. So the prospect comes in to trade expecting $12,000, but by sending them to Kelley and walking him through the steps to appraise his own car, he is soon to find out that their car is only worth $9,200.
By the time you negotiate the final acv using the black book, which say for example, is $8900, it is much easier to work with the customer on a difference of opinion of $300 dollars versus $3100. What it comes down to is managing customer expectations and reality. 3. Financing To maximize profit on the Internet prospect, it is very important to not only offer a lot of financial choices, but also extended warranties and credit life policies and don’t forget dealer packages like lifetime oil changes, bug shields, window tint etc, to help you recoup some of the lost revenue that you won’t receive on the front end gross profit.
This is another area that we feel you still have the capability of being a consultant to the customer explaining all their options. Should I purchase or lease? What terms will work for my budget? This is a great opportunity to build rapport and a solid customer relationship. Make sure you get the most out of the process. Are you getting the most out of your Internet customers in F? 4. Delivery & Support Product delivery and presentation can mean the difference between a satisfied customer and an advocate for your dealership and the way you do business.
This is what truly separates the great ones from the rest. Look to carsdirect. com or carorder. com and watch what they are doing. They are making a huge production of the delivery and not only get the customer involved but also the neighbors. Who wouldn’t want to be treated that well? You don’t need to reinvent the wheel. Just think of the delivery as the grand ceremony of the purchase. Make sure you follow up on every Internet customer with a passion. They can be the gatekeeper for a lot of e-mail addresses to help build your business.