The Absolute Best Process Strategy For Phone Sales, Internet Sales or BDC

Sta$s$cs  

•  “Buying/gesta$on”  cycle:  45-­‐90  days.  •   Average  selling  period:  7-­‐11  days.  •   Average  trade-­‐in:  over  9  years  &  100,000+  miles.  •   It  takes  a  minimum  of  7  aGempts  to  connect  with  Internet  prospects.  •   Over  42%  of  people  that  submit  a  new  car  purchase  request  end  up  buying  a  

used  car.  •  Over  80%  of  people  that  submit  a  purchase  request  for  a  par$cular  brand  or  

model  end  up  buying  a  different  one.  •  Only  20%  of  prospects  are  mo$vated  by  money/price.  •  60%  of  Americans  have  “less  than  perfect  credit.”  •  Over  73%  of  people  that  finance  a  used  car  have  a  credit  score  below  620.  

Internet  Prospect  Profile  

•   Almost  everyone  is  an  Internet  customer  to  some  degree.  •   92-­‐99%  of  all  customers  go  online  to  do  vehicle  research  before  they  

ever  step  into  the  dealership.  •   The  #1  reason  people  use  the  Internet  is  to  eliminate  bad  choices.  •  11  hours  is  the  average  $me  spent  online  researching  vehicles.  •   The  average  Internet  prospect  is  searching  5-­‐8  dealerships  and  

websites  besides  yours.  •   The  average  Internet  prospect  only  visits  1.2  dealerships.  

Time  To  Purchase  

•  Customers  first  shop  for  any  model  for  an  average  of  89  days  before  purchase.  •  Customers  first  shop  for  a  specific  model  for  an  average  of  62  days  before  purchase.  

•  42%  will  purchase  within  30  days  of  submiVng  an  email  lead.  •  26%  will  purchase  between  30  and  90  days  of  submiVng  an  email  lead.  •  32%  will  purchase  aWer  90  days  of  submiVng  an  email  lead.  •  90%  of  customers  will  purchase  within  7  days  of  calling  a  dealership.  

Time  To  Purchase  •  90%  of  customers  will  purchase  within  7  days  of  visi$ng  their  first  dealership.  •  85%  of  customers  have  made  up  their  mind  about  making  a  purchase  before  

they  even  leave  the  house.  •  57%  of  customers  will  purchase  within  3  days  of  visi$ng  their  first  dealership.  •  38%  of  customers  will  purchase  within  4  hours  of  visi$ng  their  first  dealership.  •  30%  of  customers  have  a  family  member  who  will  purchase  in  the  next  90  days.  

Where  to  Purchase  

Reasons  for  choosing  a  dealership:      39.4%  Compe$$ve  Price        21.4%  Response  Time                                          14.2%  Proximity  

                         9.6%  Inventory  

Response  Time  Is  Cri$cal  

•  Average  Response  Time  is  5.4  Hours  •  31.4%  of  all  leads  go  unanswered  •  16%  Total  Closing  Ra$o  when  Response  Time  is  under  30  minutes  •  13%  Total  Closing  Ra$o  when  Response  Time  is  between  30  and  60  

minutes  •  9%  Total  Closing  Ra$o  when  Response  Time  is  between  60  and  90  minutes  •  3%  Total  Closing  Ra$o  when  Response  Time  is  over  90  minutes  

The  Science  of  Communica$on  

Successful  Communica$on  Convey  a  posi$ve  message  

 

What  happens  a?er  you  hang  up  with  a  customer?    

•  Only  50%  of  the  informa$on  is  retained  from  the  customer  aWer  the  conversa$on  

•  Only  25%  of  that  informa$on  will  be  retained  aWer  48  hours.  

Successful  Communica$on  

•  There  is  no  possible  way  to  communicate  100%    

 

•  The  customer  will  perceive  what  you  say  by  the  way  you  say  it  

 

Percep$on  is  reality  

Communica$on  and  Decision  Making  

The  visual  thinker                            The  auditory  thinker        The  kinesthe$c  /  Ac$on  thinker      

BoGom  Line  •  There  are  3  steps  to  any  sale  

•  You  need  an  opportunity  to  do  business  in  order  to  do  business  

•  You  need  to  get  someone  to  like  you,  trust  you  and  believe  you  

•  They  will  buy  from  you  –  either  an  appointment  of  a  sale  

 

Master  your  phone  skills  

U$lizing  Technology  

•  Social  Media  

•  Tex$ng  

•  Chat  

•  Video  

 

Dealer  Synergy’s  10  step  “Road  to  the  Appointment”  Process.  

(Outbound  Phone  Process)  

•  Iden$fy  wants,  needs,  and  expecta$ons  

•  Meet  them  

•  Exceed  them  

Main  Objec$ve  of  the  Outbound  Phone  Process  

Secure  appointment                                            Set  up  a  TO  

Dealer  Synergy  9  Step    Inbound  Phone  Process  

•  Iden$fy  wants,  needs,  and  expecta$on  

•  Meet  them  

•  Exceed  them  

Main  Objec$ve  of  the  Inbound  Phone  Process  

Gather  informa$on                        Secure  appointment                          Set  up  a  TO  

P   R   A   C   E  C  T   I  

The  7  Reasons  people  go  online  to  buy  a  car  

Notes  on  RebuGals  

•  Let  your  customer  tell  you  his  or  her  expecta$ons  

•  Do  not  interrupt  when  your  customer  Is  speaking  

•  Do  not  trust  your  memory  –  write  everything  down  

•  Give  your  customer  your  undivided  aGen$on  

•  Be  alert  to  nonverbal  cues  

•  Be  alert  for  aVtude  and  mo$ves  behind  words  

Remember,  it  is  impossible  to  listen  and  speak  at  the  same  $me.    

Overcoming  Objec$ons  

1.  Never  argue  or  embarrass  

2.  Be  aware  that  overcoming  objec$on  could  make  customer  angry  

3.  Never  aGack  or  insult  

4.  Keep  person  separate  from  objec$on  

5.  Never  assume  that  you  understand  what  they  mean  

What  you  should  NOT  do  when  dealing  with  objec$ons  

Exceed  Expecta$ons  

Value  Package  ProposiHon  

 

•  Strategically  created  based  on  the  7  reasons  people  shop  online  

 

•  Focuses  on  key  demographics  

•  Building  value  provides  your  prospect  and  client  the  necessary  knowledge  emphasizing  the  benefits  and  advantages  to  help  convince  them  in  choosing  you  and  your  services  over  another's.  

 

•  The  price  and  prospect  receives  needs  to  be  weighed  against  the  value  we  are  providing.  

Crea$ng  a  Value  Package  Proposi$on  

•  What  is  unique  about  your  dealership?  

 

•  What  can  you  offer  to  make  me  want  to  shop  at  your  store?  

 

•  Every  company  needs  a  unique  value  proposi$on  

Your  VPP  Should  Answer  These  Ques$ons  

•  “What’s  in  it  for  me?”  

•  “Why  should  I  do  business  with  you?”  

Voicemail  

•  Being  en$cing  is  about  arousing  a  prospect's  curiosity  

•  Effec$ve  voicemails  require  you  to  establish  credibility  

•  Pique  curiosity  by  communica$ng  your  VPP  

•  Close  with  confidence  

•  Give  them  a  reason  to  call  back    

•  Get  to  the  point  

What  makes  an  en$cing  voicemail  message?  

How  to  Speak  

•  Speak  slowly  and  clearly  

 

•  Speak  with  energy  and  enthusiasm  

 

•  Speak  with  confidence    

Addi$onal  Notes  •  Leave  your  phone  number  twice  

•  Give  them  op$ons  to  get  back  to  you  

•  Have  a  VPP  and  state  it  clearly  

•  Establish  your  credibility  –  state  your  first  and  last  name  

•  Be  crea$ve