Your SlideShare is downloading. ×
autosuccessJun06
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

autosuccessJun06

425
views

Published on

AutoSuccess addresses the specific, researched needs of new car and light truck dealerships by providing entrepreneurial, cutting-edge, solution-based editorials to increase dealership profits and …

AutoSuccess addresses the specific, researched needs of new car and light truck dealerships by providing entrepreneurial, cutting-edge, solution-based editorials to increase dealership profits and reduce expenses

AutoSuccess, magazine, sales, new, used, selling, salespeople, vehicle, dealer, dealership, leadership, marketing

For Similar content visit http://www.autosuccesssocial.com/

Published in: Business, Automotive

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
425
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Sell What It Does, Not What It Is June 2006 MOVING CUSTOMERS FROMTHE INTERNET TO YOUR SHOWROOM HOW MODERN CONSUMER’S HELPED SPECIAL FINANCE LEADER EARNHARDT DO JUST THAT Terry and Kevin Murphy
  • 2. There’s only one place that has more car shoppers than the newspaper. But that tends to happen when you have more cars than the newspaper. Where do 2.7 million vehicles and millions of. serious shoppers a month come together? It isn’t the newspaper. It’s the ultimate automotive marketplace. AutoTrader.com. To reach more buyers, call 1-888-249-6860.©2006 AutoTrader.com is a trademark of TPI Holdings, Inc. and is used under license.
  • 3. NEED AN EVENT THAT PAYS? The Hottest Do-it -Yourself SALES EVENTS IN THE NATION OUR DEALERS AVERAGE 340% MORE UPS WITH OUR EVENTSTHAN LEADING SALES. NO TEAMS, NO COMMISIONS, JUST TRAFFIC!!POWERFUL EVENTS • REAL BIG RESULTS • REALLY INEXPENSIVEPlus, we include everything for you... Direct Parcel • Event Website • Credit Hotline • Balloons • Mirror Tags Registration Cards • Incentives • BDC Scripts and more! CALL FOR A FREE MARKET REPORT. The Driving Force Behind EVENT SPECIALISTS ARE STANDING BY Automotive Advertising Market Exclusive 866-239-3862 Copyright © 2006 Turn-Key Events and it’s licensors.
  • 4. SUMMITIV BEST PRACTICES LEADERSHIP • INTERNET • CRM • MARKETING • BDC • SALES Wow! I was hoping to gain at least five new ideas to take our Internet sales to the next level. I had more than five the very first day. The thing I liked best was the people. The sharing of information during breakfast and lunch was just as help-ful as the quality presentations. Great people whowork hard and play hard ... after all it was Las Vegas. Ienjoyed the casual and professional environment andthe opportunity to visit with 15 vendors in betweenspeakers.“What happens in Vegas goes back to Texas.” I met withmy Internet team of 10 professionals and started toimplement ideas on Saturday afternoon.This was my first Summit and I hope I can come againin November!Great Show ... Fabulous Ideas! Summit IV was another Joe Healy Internet Director, Lawrence Marshall Dealerships “This is my second Summit and they keep getting better. It’s hard to be able huge success, and to put all the ideas into practice because there’s just so many! Great event, great speakers, and great location.” Heather Conary Web developer, congratuations to all who Downeast Toyota “We seldom know what we don’t know. Learn what you don’t know by attending the next AutoSuccess Summit. Apply the nuggets of wisdom presented at these attended and participated summits, and your return on the invest- ment will be outstanding. It’s like a 20 Group for the Internet!”” Mike Parsons Director of e-commerce, Asbury Automotive GroupSign up now for the Best Practices Summit V, November 2006 - Las Vegas • Call 866.396.7050 for dates
  • 5. Take our customers...Please!Why chase false leads when you can have real,qualified customers?She completed an extensive application, pre-qualifiedwith flying colors, received her purchase check, andnow she just needs a car. Want her contact info?Become a myAutoloan Preferred Dealer now.Our approved customers arrive with financing in place.Our qualified customers have passed an extensiveverification process through our Preferred Placement®technology. Now, all you have to do is put them in thedriver’s seat.Each month, we approve hundreds of qualified, ready-to-buy customers in your area. They prefer all brands,all models, and great service. But they don’t requireselling – they’re ready to buy!To choose your spot on our Preferred Dealer Networkand start getting these customers, give us a call toll freeat 866.625.2668, send an email to contact@myautoloan.com,or visit our Web Site at www.myautoloan.com/dealers.In partnership with Complete Customer Contact Details Exclusive Territories Entire Credit Spectrum Applicants Exclusive Real-Time Leads by Zip Code 24/7 Online Dealer Access Customers are Buying Now REAL LENDERS - REAL LOANS - REAL TIME
  • 6. Gaining Visibility 8 BrianTracy Prospecting: Establishing Relationships 9 ZigZiglar Characteristics of a Pro 10 TomHopkins Increasing Total Yield 12 MikeTamas Developing the Traits of a Leader, Part 1 13 SeanWolfington Are You Checking the Bad Guy List Complying with OFAC Regulations 14 CharlesArrambide Sell More Online Immediately and Keep Your Best People 16 DavidKain Going Up What’s an Elevator Speech and Why Do You Need One, Part 1 18 PattiWood The Value of a Loyal Customer 19 DavidJohnson The Speed of Doing Business 20 JimAdams Investing the Fundamentals 22 TimShea Moving Customers From the Internet to Your Showroom How Modern Consumer’s Driverloans.com Helped Special Finance Leader Earnhardt Do Just That 24 KevinMurphy Five Keys to Selling 100 Extra Cars a Month FordDirect Internet Dealer of the Year Shares Best Practices 26 BryanHopkins The Essentials of Leasing More Cars 28 JeffMorrill Don’t Let Profits Walk Out the Door 30 RichardLibin Scott’s Individualized Consultation Transcripts 32 ScottJoseph The 7 Commandments of Selling, Part 1 34 DavidJacobsoncover 24 A Hidden Cash Asset - Your Customer’s Future Credit Card Sales Higher Response Rates and More Leads Fool-proof Advertising with Vanity Numbers 36 38 LauraNoonan GlennGoldman The Most Important Decision of Your Life 39 MarkTewart The No. 1 Suzuki Dealership in the Nation is Selling 25-40 Referral Appointments Per Month 40 GaryLinam Patrick Luck, Editor & Publisher Courtney Paris, Sales-improvement Strategist luck43@autosuccessonline.com courtney.paris@autosuccessonline.com Susan Givens, Vice President Brian Ankney, Sales-improvement Strategist sgivens1@autosuccessonline.com super6@autosuccessonline.com 3411 Pinnacle Gardens Drive Louisville, Kentucky 40245 Thomas Williams, Creative Director Brian Balash, Sales-improvement Strategist design@autosuccessonline.com bb11@autosuccessonline.com toll free: 877.818.6620 facsimile: 502.588.3170 Dave Davis, Creative Strategist Charlie Tierney, Sales-improvement Strategist web: www.AutoSuccessOnline.com ddavis@autosuccessonline.com cpt2@autosuccessonline.com helping to promote... Acts 10: 34-35 And Peter opened his mouth and said:“Truly I perceive that God shows no partiality, but in every nation any one who fears Him and does what is right is acceptable to Him...” God is the source of all supplyAutoSuccess Magazine is published monthly at 3411 Pinnacle Gardens Drive, Louisville, Kentucky, 40245; 502.588.3155, fax 502.588.3170. Direct all subscription and customer service inquiries to 877.818.6620 or info@autosuccessonline.com. Subscription rate is $75 per year.AutoSuccess welcomes unsolicited editorials and graphics (not responsible for their return). All submitted editorials and graphics are subject to editing for grammar, content and page length. AutoSuccess provides its contributing writers latitude in expressing advice and solutions;views expressed are not necessarily those of AutoSuccess and by no means reflect any guarantees. AutoSuccess accepts no liability in respect of the content of any third party material appearing in this magazine or in respect of the content of any other magazine to which thismagazine may be linked from time to time. Always confer with legal counsel before implementing changes in procedures.© All contents copyrighted by AutoSuccess Magazine, a Division of Systems Marketing, Inc. All rights reserved. Reproduction inwhole or part is prohibited without express written consent from AutoSuccess. AutoSuccess may occasionally make readers’ names available to other companies whose products and/or services may be of interest; readers may request thatnames be removed by calling 877.818.6620. Printed in the USA. Postmaster: Send address changes to AutoSuccess Magazine, 3411 Pinnacle Gardens Drive, Louisville, Kentucky 40245.
  • 7. sts fos ls ms sf fis BrianTracy leadership solution Gaining Visibility Have you noticed that dress. Dress for the position two jobs above soon be noticed by people who are higher up. some workers receive your own. Many men and women with limited contacts more promotions and and limited resources have risen to positions greater pay than their Join professional associations. of great prominence as the result of getting colleagues, despite Research professional associations to know the key community leaders who the fact that they connected with your business or field. Begin participate in charitable organizations andare apparently not as competent as you? by attending meetings as a guest to carefully professional associations.This doesn’t seem fair. Why should some assess whether or not a professionalpeople get ahead when others, who seem association can be of value to you. Determine Be able to set priorities.to be working much harder and even longer if the members are the kind of people you Learn how to separate the relevant fromhours, get passed over for promotion and the would like to know and are well established the irrelevant when facing the many tasksadditional rewards that go with it? in their careers. Then, if you have decided of the day. Managers place very high value that becoming known to the key people in on a person who can set priorities and moveThe fact is, to be a great success, it is important this association can advance your career, quickly to get the job finished. Dependabilitynot only to be good at what you do but also to take out a membership and get involved. in job completion is one of the most valuedbe perceived as being good at what you do. Pick a key committee and volunteer for traits in the American work force. WhenHuman beings are creatures of perception. service. Find out which committee seems to your employer can hand you a job and thenIt is not what they see but what they think be the most active and the most influential walk away and never worry about it again,they see that determines how they think and in that organization and then step up to the you have moved yourself onto the fast track,act. If one person is perceived as being more plate. Volunteer your time, expertise and and your subsequent promotion and pay arepromotable, then it is very likely that he/she energy, and get busy. Attend every meeting. virtually guaranteed.will get additional responsibilities and more Take careful notes. Ask for assignments, andmoney, even though there are others that can complete them on time and in an excellent Upgrade your work-related skills.do a better job, if given the chance. fashion. This gives you an opportunity Continually look for ways to keep your skills to perform for other key people in your current, and make sure that your superiorsFortunately, there are several things that one profession in a non-threatening environment. know about it. Look for additional coursescan do to increase visibility and accelerate You give them a chance to see what you can you can take to improve at your job, andthe speed at which they move ahead in their do and what kind of a person you are. You discuss them with your boss. Ask him/hercareer. expand your range of valuable contacts in to pay for the courses, but make it clear that one of the most effective ways possible. The you’re going to take them anyway. Also,Develop competence. people you get to know on these committees ask your boss for book and audio programDetermine what parts of your job are most can eventually be extremely helpful to you recommendations. Then follow up byimportant to your boss and to your company in your work and in your career. reading and listening to them and asking forand then make the decision to become very further recommendations. Bosses are verygood in those areas. You must be perceived impressed with people who are constantlyas being very competent at what you do. striving to learn more in order to increaseThat perception alone will bring you to theattention of more people faster than you The fact is, their value to their companies.can imagine. The perception of excellentperformance will open up opportunities to be a great Develop a positive mental attitude. People like to be around people they likefor greater responsibilities, higher pay and success, it is and tend to promote them. A consistent, important notbetter positions. Becoming good at what you persistent attitude of cheerfulness anddo should be the foundation of your strategy optimism is quickly noticed by everybody. only to be goodfor gaining higher visibility and rapid When you make an effort to cultivate anadvancement in your career. attitude of friendliness toward people, they,Pay attention to your overall image. at what you do in turn, will go to extraordinary efforts to open doors for you.How you appear to others makes a realdifference. A recent survey of personnel but also to be In the final analysis, taking the time toexecutives found that the decision to hire ornot to hire is made in the first 30 seconds. perceived as become an excellent human being will do more to raise your visibility and improveThere are many elements of your life overwhich you have no control. But your external being good at your chances for promotion than will any other single thing that you can do. You candress and appearance are totally a matter ofpersonal preference. Through their choice what you do. do it if you really want to.of clothes, their grooming and their overallappearance, individuals deliberately makea statement about the kind of people they Join a well-known, charitable organization.are. The way you look on the outside is a Become active by donating your services to Brian Tracy is the chairman and CEOrepresentation of the way you see yourself its annual fund-raising programs. You may of Brian Tracy International. He can beon the inside. It’s a good idea to dress the not be wealthy now, but you do have time, contacted at 866.300.9881, or by e-mail atway the senior people in your company and your willingness to give of yourself will btracy@autosuccessonline.com. 8 www.autosuccessonline.com
  • 8. sts fos ls ms sf fis ZigZiglar sales and training solution Prospecting: Establishing Relationships Selling is a contact 5. Offer a free service. and Learn” programs. What an educational sport. By increasing We all like free stuff. So do your customers way to establish a relationship. your contacts, you and their business associates. Perhaps you can increase your selling make a presentation in a “brown bag lunch” Zig Ziglar is the chairman of the board of opportunities. Be format. Maybe you can bring in an associate Ziglar Training Systems in Dallas, TX. This creative. to address physical wellness, financial issues, article was reprinted with permission. All parenting or family matters. A vice president rights reserved. He can be contacted at1. Take a doctor jogging. of a staffing agency here in Dallas conducts 866.873.0026, or by e-mail atOne of our clients sells to hospitals, clinics 30-minute sessions on what she calls “Lunch zziglar@autosuccessonline.com.and doctors. She was having a difficult timemeeting with a certain doctor. The doctor’sstaff told the sales rep that she (the doctor) wasa jogger and that she participated in variousvolunteer activities within the community.The sales person thought outside the box andentered the doctor and herself into a 5K runfor “Race for the Cure.” What an active wayto establish a relationship.2. Hit a bucket of golf balls.Do you play golf? (I do, but I still stand tooclose to the ball AFTER I hit it!) Does yourprospect play golf? Instead of investing anentire four hours on the course, why don’tyou invite your prospect out to the drivingrange and hit a bucket of balls for an hour?You don’t play golf? Well, try this. Pay foryour prospect to receive a golf lesson by alocal pro. What a swinging way to establisha relationship.3. Celebrate obscure holidays.For instance, did you know that Januaryis Hot Tea Month? Perhaps you know ofa prospect that is a hot tea drinker. Januaryis your month to make an impression.September is Better Breakfast Month. Maybeyou should celebrate by taking a prospect toyour favorite breakfast restaurant. October isNational Popcorn Popping Month. Is there anoffice that could use an extra large containerof assorted popcorn? You’ll be a big hit if youcan find one. What a fun way to establish arelationship.4. Send greeting cards.Hand written cards get opened. Hand writtenmessages get read. Capitalize on obscure daysbecause you can rest assured that you are theonly sales person celebrating these days. Aug.16 is National Tell a Joke Day. (Don’t get mestarted!) Sept. 14 is National Cream FilledDonut Day. Oct. 5 is National Do SomethingNice Day. Buy a card. Write a message. Mailthe card. Wait three to five days. Call theprospect and tell her you were the one whosent the card on International Tuba Day (May7). Greeting cards can help separate youfrom the competition. What a creative way toestablish a relationship.june 2006 9
  • 9. sts fos ls ms sf fis TomHopkins sales and training solution Characteristics of a Pro There are many traits anxiety and pain you can handle before you strive daily to improve their skills. They or attributes common call it quits. Are two rejections and three have jumped in with both feet and are willing to those who can be No’s enough to send you looking for another to pay the price of learning what they have to called professionals in profession? If so, you have a low threshold know to be a professional in this business. the field of automotive of desire and a high one for rejection. Think They’ve committed to sales as their career. sales. A particular about what you’re willing to give or do to They are constantly striving to improvequality that separates the average from the achieve what you really want. themselves by attending seminars andgreat can be expressed by one simple word functions, listening and reading sales material- discipline. Desire without discipline leads to and staying abreast of new technology that disappointment, disillusionment and despair. will assist them in serving their clients moreYears ago, I used to teach that one of the top Don’t let yourself be disappointed. Develop efficiently.qualities separating the average from the the discipline you need to succeed.great was DESIRE. However, I have since The live by this motto: “I must do the mostmet and observed many students who had Professionals pay close attention to details. productive thing possible at every giventhe overwhelming desire to succeed, but They ask questions that help them get a moment.” Those 12 simple words literallylacked the discipline required to lay out the better understanding of exactly what their changed my life and my career nearly 40specifics of their paths to success, stay on clients are looking for in a vehicle - style, years ago. Whenever I felt doubt about whattrack and ultimately fulfill their potential. performance, mileage, color and size. They I was doing I would glance at these wordsSo, your desire to achieve must be tempered have their paperwork in order - properly hung by my desk, get re-focused and do thewith your ability to discipline yourself to do filled out, recorded and filed. They return next most important thing.what’s necessary at all times. phone calls promptly - even if it’s just to leave a quick message that they’ll be back I hope you’re not one of those people who isMost of the great ones have an overwhelming in touch later. They keep their promises “just giving it a try.” People with that attitudedesire to prove something to someone. They and have answers ready when questions are have a plan of action for when they fail.know they can be the best in their field and asked. You’ve heard it, I’m sure. “If I don’t makeare out to prove it to the world, or maybe just it in this, I can always....” They have a planto themselves and their families. This desire They are highly goal-oriented. for failure. They’re anticipating it, and willburns so strongly within them that it keeps They are striving for a certain number of cars probably get it. Planning to succeed is sothem moving in the right direction. It keeps sold each month, a certain income, a trophy much more exciting than planning to fail.them positive on days when things don’t or an award. They know exactly what they’rego just right. It keeps them cheerful to their working for and have a plan detailing when Another characteristic of the top people inclients and fellow sales people. It makes and how they’ll achieve it. sales is that they give excellent service.them more efficient and professional in their They know they are paid in direct proportionday-to-day activities. It’s the fuel that keeps Do you have your goals in writing? If not, to the amount of service they give to theirtheir engines running in top condition. you are a wisher, an undisciplined dreamer. clients. They understand that we are in the You haven’t really committed yourself to people business. We don’t sell vehicles.The desire they have to succeed is not wholly achieving anything. You’re like those average We get people happily involved in owningselfish either. In their quest for success, they people in your office who say, “Sure, I want vehicles by satisfying their needs.sincerely want to find those people looking to make more money, but after the day I hadfor a new vehicle and fulfill their needs. yesterday, I’m not leaving the office today.”Their success is brought about by bringinghappiness to those people they come in You see, the successful ones, the truecontact with and serve. professionals, begin where the failures stop. World-renowned master sales trainer Tom They do what the failures are afraid or too Hopkins is the chairman of Tom HopkinsNow, I can’t tell how much desire you have to lazy to do. International. He can be contacted atmake it in this field. Only you know that. The 866.347.6148, or by e-mail atanswer comes in knowing how much stress, The great ones understand that they must thopkins@autosuccessonline.com. If Youre Involved With Increasing Revenue, You Should Have One. Buy one subscription for $75 and Read get one FREE! 866.269.8604 10 www.autosuccessonline.com
  • 10. Dealers Consistently Rate Dealix Their #1 Internet Sales Lead Provider, Year after Year 2002 2003 2004 2005 2006 Lead Quality, Service Lead Quality Highest Overall Highest Overall and #1 in Auto Dealer and Profit per Car sold and Lead Quantity #1 Provider to the Wards Monthlys Dealers e-Dealer 100 Choice Awards If youre thinking about whether Dealix will help you sell more vehicles, ask the people who know. The Cobalt Group, including Dealix, is used by 94% of the Wards e-Dealer 100. The Best Dealers Use Dealix. "Dealixs third party leads and search marketing service, PowerSearch, help us get the maximum visibility and customers, with the minimum investment, in the shortest amount of time." Mike Zavell, Internet Sales Manager Gunther VW of Coconut Creek, Pompano Beach, FL "Our Dealix leads have the highest closing ratio of any other lead source." Paul Miller, Internet Director Capital Ford, Raleigh, NC "Dealix customer service is unparalleled. I have been a long time customer of Dealix and use their leads because their lead quality is the best in the industry, bar none. Theyre a great group of people to work with. I wish I could clone my rep Dolores. She is the best!" Gilbert Chavez, Internet Director Phil Long Motor Group, Colorado Springs, CO For complete details on these studies, and to get a free lead estimate, contact Dealix at (800) 717-8079, or visit us at www.dealix.com.Dealix Drives Success.
  • 11. sts fos ls ms sf fis MikeTamas f&i solution Increasing Total Yield Are you happy with most of their PRU income from rate. What our industry, this program certainly brings a your F&I department’s happens to your store’s total yield if the value-added concept to both customers and production? Is your customer refinances? Are you maximizing dealerships. For starters, this program is only PRU where you want total yield by offering the proper products? available if the customer finances at your it? What are you willing When was the last time you reviewed and dealership. Should the customer refinance, he to do about it? Because updated the products on your menu? Do the or she will lose the benefits of the program.of the pressure from above to get volume, products you offer bring perceived value This is also a great way to increase financemany sales managers do anything they can to to your customers? Does your menu offer a penetration and decrease chargebacks through“move” a unit, even if it means losing money service contract in each package? refinancing. Unlike credit insurance, thison the front end. Business managers then program is not rated by age or health. Almosthave the task of making the total yield of the Many stores are loading up their menus by everyone qualifies, which means you can offerdeal positive. offering products such as dent repair, GPS it to everyone financing a car at your store. tracking devices and paint protection.Does your business manager have the proper To ensure your menu produces profitabletools and training to improve the total yield? Recently a program hit the industry that results, be sure your business manager isThe buzz in F&I over the past few years has actually allows customers to bring their properly trained; then review the productsbeen menu selling and legal compliance. vehicles back to the selling dealership being offered to be sure they are in tune withDon’t let your business managers use a menu without facing any negative credit effects if the needs of today’s customers. Combining awithout being professionally trained. The a certain life-changing event has occurred. professionally trained business manager withgeneral consensus seems to be that by simply This criterion covers a wide range of a properly balanced menu will increase totalusing a menu, production will increase and everyday circumstances, including physical yield in your dealership.the store will stay out of the legal doghouse. or mental disability, loss of driver’s license or involuntary job loss. Many more real-life Mike Tamas is the vice presidentLook at increasing total yield through product situations are covered, as well. of training with American Financialsales. & Automotive Services. He can be With today’s unsteady economy, massive lay- contacted at 866.286.1339, or by e-mail atMany stores that use a menu still generate offs and negative-equity epidemic gripping mtamas@autosuccessonline.com. 12 www.autosuccessonline.com
  • 12. sts fos ls ms sf fis SeanWolfington leadership solution Developing the Traits Turn Your Internet Leads of a Leader, Part 1 into Showroom Look at any leader and you’ll notice he food that requires no preparation, they charge major purchases without the resources to pay Appointments... or she has developed for them and they have access to anything a collection of traits and everything at a moment’s notice. It that have helped him would appear to go against our very culture or her arrive at the top to reserve a reward until after the job is done,- at a place where they are considered one but those who do will find that self-disciplineof the best, if not the best, at what they do. becomes part of the fiber of their character.These leadership traits include discipline, theability to prioritize, to build trust, the ability Stay Focused on Resultsto influence others and to cast vision. In this Anyone who focuses on the difficulty ofarticle we will look closely at the ability to the work instead of its promised results orbuild self-discipline and examine the other rewards will easily become discouraged.leadership traits in future articles. Discouragement breeds procrastination, and if a person dwells on those difficulties tooNo matter how gifted a leader is, his gifts long they develop self-pity rather than self-will never reach their maximum potential discipline. The next time you’re facing awithout the application of self-discipline. critical task and you find yourself thinkingSelf-discipline is a key to success. Self- of how daunting it is, and this leads you todiscipline often means doing more than thinking of doing what’s convenient to avoidwhat’s necessary, what you need to do to paying the price of the hard work ahead,prepare and to grow even when it’s tough and change your focus. Count the benefits ofit hurts and when you’d rather do something doing what’s right and then dive in.else. Self-discipline means refusing to quit.A person who refuses to quit knows that their Do Right and You Will Feel Right “WorldDealer has helped us with alljob begins when others stop trying. Self-discipline has rewards other than just facets of our web getting results. It feels good to do good initiative and we haveSelf-discipline positions a leader to go to and the people who do whatever it takes to had significant andthe highest level and is a key to leadership do things right enjoy the process and the consistent growth forthat lasts. If you want to become a leader for outcome a lot better than those who cut the past six years.whom self-discipline is an asset, here are a corners. As you do the big and little things Their customer servicefew action points: right, it builds your internal architecture is outstanding and I would recommend and character, but if you take short cuts that them to any dealer.”Challenge Your Excuses make you more comfortable in the moment,To make self-discipline part of your lifestyle, it tears down that internal architecture that - John Taylor, Findlay Auto Groupyou must challenge and eliminate any holds up your character and self esteem.tendency to make excuses. Some commonones include, “I don’t have time,” “I have The most important tasks are the small ones that no one knows about but you. By doing Call for a FREEtoo many responsibilities,” “I don’t knowhow to” or “I’m not good at.” You get the the little things well, we prepare ourselves for the big things and each job well done evaluation to see ifpicture and can probably think of a fewmore. The worst excuse of all is “I have outside the sight of others is a private victory that strengthens our self-discipline and you qualify for ourto … (you fill in the blank)” because itconveys a victim attitude. Change “have” to character. IBDC program“choose” and watch your excuse slip away. You may have talent and you might even seeIf you have several reasons why you can’t be a lot of motion, but without self-discipline • Call Center Servicesself-disciplined, realize that they are really you’ll see little sustained and concrete • Dynamic Web sitesjust a bunch of excuses and challenge each results. So start challenging your excuses,and every one of them to get to the next level reserve your rewards until the difficult tasks • LMSas a leader. are done and stay focused on the results and • SEO/SEMRemove Rewards Until the Task is Done you will find yourself building self-discipline and success as a leader today. • Media Buying/Any industry that pays goof-offs and go- Productiongetters equally will sooner or later find itselfwith more goof-offs than go-getters. If youlack self-discipline you may be in the habitof expecting your rewards before hitting Sean Wolfington is the owner ofyour target. In today’s culture of instant www.worlddealer.net BZResults.com. He can be contactedgratification this can be easier said than done. at 866.802.5753, or by e-mail at e-mail: info@worlddealer.netToday, people reward themselves with fast swolfington@autosuccessonline.com. 866.429.6826june 2006 13
  • 13. sts fos ls ms sf fis CharlesArrambide leadership solution Are You Checking the Bad Guy List Complying with OFAC Regulations Checking the so-called blades just as you would a customer buying type of service. If you use a credit “Bad Guy” list should a new car. Additionally, you must screen bureau to screen credit transactions, be part of your hiring employees and vendors against the database. remember that you also need to screen and sales processes. employees, payments to vendors and If you’re not familiar Penalties for non-compliance cash transactions.with this list, you may know it by another Violators could face harsh criminal and civil • Know what to do if a name matchesname, the “OFAC” list or the “Specially penalties. Penalties include fines ranging the SDN list. OFAC has a process forDesignated Nationals (SDNs) and Blocked from $50,000 to $10 million, and 10 to 30 handling “hits,” and it involves a littlePersons” list. years in prison for willful violations. Civil research. Is the name an exact match penalties range from $11,000 to $1 million or close? Is the person located in theThe U.S. Department of the Treasury’s Office for each violation. same general area as the SDN? If not,of Foreign Assets Control (OFAC) maintains you may have a “false hit.” If it looksthe list, which incorporates the names of How to comply very similar, call OFAC’s compliancethousands of suspected and known terrorist If you are not in compliance with OFAC hotline at 800-540-OFAC (6322) fororganizations, drug traffickers and others. requirements, take immediate action toward verification.OFAC administers and enforces economic complying. Here’s how to get started: • Document and retain screening records.and trade sanctions against targeted foreign Store them in the appropriate customer,countries, terrorism-sponsoring organizations • Develop a written policy stating vendor or employee files. If a problemand international narcotics traffickers. compliance with the law is mandatory. arises, you’ll be able to show your • Assign responsibility for coordinating screening results.How does OFAC’s list apply to your the program to a trusted employee.dealership? • Determine who and what you will For more informationThe government prohibits all U.S. persons screen. This should include employees What I have provided is strictly an overview.from doing business with any individual, and all required transactions (virtually Please talk with qualified legal counsel forgroup or entity listed. Someone listed could all sales and service cash and credit further details and to ensure that you are inattempt to buy a vehicle from you or apply transactions, as well as payments to compliance. Another good resource is the U.S.for a position at your dealership. vendors). Department of the Treasury Web site, http:// • Decide how you will screen names. The www.treasury.gov/offices/enforcement/Consider these scenarios: process doesn’t have to be expensive or ofac/, which provides answers to frequently • A dealer rents a truck to a customer cumbersome. You can: asked questions and much more. without checking OFAC. The customer • Screen names using OFAC’s Web fills the truck with explosives, parks it site. Note: OFAC updates the list as What’s ahead? in front of a building and lights a fuse, needed, which is fairly frequently, Next month I’ll address self-audits – things destroying the building. so don’t rely on a printed version. you should be checking before someone else • A dealer hires an employee without • Screen names using vendor does. checking OFAC. The employee works software programs. There are for two years. One day he doesn’t show many options, including some This information is presented for risk up for work or call. Later, it’s discovered vendors that specialize in the management purposes only. It is not to be the employee was part of a terrorist automotive industry. Here are a construed as legal advice or legal opinions. attack. few to consider: Consult your legal counsel for assistance with • Dealership Defense LLC OFAC compliance. Universal UnderwritersIn both cases, if an investigation shows (www.dealershipdefense.com) Insurance Company, its affiliates, agentsthat the perpetrator was on the SDN list, • Automotive Compliance and employees assume no responsibilitythe dealers could be held accountable for Consultants or liability for making this informationneglecting to screen the names. (www.compliantnow.com) available. • EthosHROnlineWhen are you required to check the OFAC (www.ethoshronline.com)list? • Equifax (www.equifax.com)OFAC requirements apply to all cash, credit • First American CREDCOand lease transactions, as well as consumer- (www.credco.com) Charles F. Arrambide is assistant viceand business-purpose transactions. There is • Let someone else check. There are president and associate risk officer for Universal Underwriters Insuranceno minimum-dollar amount on purchases. vendors who will implement software Company. He can be contactedFollowing the letter of the law, you should and perform screening for you. Also, at 866.347.5019, or by e-mail atscreen a customer buying windshield wiper most major credit bureaus offer this carrambide@autosuccessonline.com. 14 www.autosuccessonline.com
  • 14. Why limit your profit improvement to just F&I? There are many pieces to the profit puzzle. Some companies focus on just one, and that’s not good for your bottom line— or your customers.At Resource Automotive, our 40 yearheritage has taught us that long-term profitability comes froma balanced strategy of driving revenues through processimprovement in all departments, not just one.Each of our products and services embeds innovative technologyas well as adherence to regulatory and compliance requirementswithin the automotive industry. Additionally, all of our tools aretailored to fit your specific sales, service and customer satisfactionobjectives.For immediate impact—throughout your organization—call www.resourceautomotive.com (847) 953-6000us today.
  • 15. sts fos ls ms sf fis DavidKain marketing solution Sell More Online Immediately and Keep Your Best People In the mid- to late 90s, pleased with the traditional sales process of assist them. It is no different to me than the when dealerships were back-and-forth negotiations with the sales customer who had researched at their library, starting to consider the manager and wanted to have a streamlined bank or credit union prior to their dealership Internet as a marketing buying solution. It was suggested by many visit when I first started selling in the 1980s. tool, dealership owners online pioneers that the Internet provided I had to adapt my selling to credit them for and managers were the perfect environment to bypass the sales their due diligence while still moving themfaced with a decision: Embrace the Internet manager role and give the consumer the through the steps to the sale.as a marketing and sales tool or wait and see opportunity to complete the transaction withif it would be the “event” so many predicted. one dedicated person. This idea worked Rather than limit your sales and profit successI think the dealers who have embraced then and works now, but it is short sighted by funneling Internet customers to Internet-the opportunity are enjoying the fruits of because it sidelines some of your best only sales people, I truly feel the dealershipstheir labor and are likely morphing their dealership sales talent and, in many cases, that will sell in volume in the future willonline operations to increase their overall puts the dealership at great risk when their train their entire staff to respond to thisdealership profitability and market share with “dedicated” person leaves and takes all the ever-growing buying population and, mostmoves into parts and service, commercial experience, marketing contacts and online importantly, challenge their sales managersvehicles, auctions and more. If you are still sales ideas with them to another dealership. to add Internet sales responsibility to theirwaiting, the good news is you can still adapt already full plate. Your sales managersyour organization to this consumer - and A better solution that is long lasting is to already recognize that lot traffic is droppingdealership - friendly environment and grow weave the Internet into your traditional and this will open up their eyes to a growingyour sales and profits right away. selling system and normalize deals as much opportunity and allow them to show their as possible to satisfy the online and offline true sales talents.One of the early mainstay thoughts was to buyers. This is not a stretch to considerhave “dedicated” Internet staff to manage holding your sales managers accountable for The good news is that the current thinkingthe leads a dealership received. Why this ALL SALES - including the Internet. The old of dedicated Internet sales teams and BDCworked then, and works now, is that having adage that sales managers have full plates and teams still works extremely well, so there issomeone focused specifically on this part can’t supervise the sale of online prospects no need to abandon successful operations.of your business without distraction causes while they can manage walk-in and phone- My suggestion is to take what works andthem to make things happen in order to earn in prospects is preposterous. The best sales transfer these ideas to the overall sales floortheir paycheck. It makes sense that, if the managers want to manage the entire selling and teach your sales managers and traditionalonly way you are going to make money is environment and adapt their approaches to sales people how to effectively work withby selling vehicles online, you will improve what works for each client. It is pure art to Internet prospects. You would likely see anyour processes to the point that customers see a sales manager work with a customer immediate boost in sales. Imagine if yourespond positively and purchase vehicles who is a tough negotiator in one office, close knew that 80 percent of your customers werefrom your dedicated Internet sales person. the deal by showing firm closing skills, and in a parking lot each day at the local discount then deftly work with a first-time buyer in store – I can assure you that your salesThe interesting thing is that then, and even the next office who needs a gentle push to managers would be there too with a teamnow, the role of the dealership sales manager decide to purchase. Therein lays the reason of sales people focusing on those prospects.was not adapted to lead the charge in online the sales manager ascended to this role in the This is similar, and now I think it is time forsales in many, if not most, dealerships. first place. Why limit your growth potential you to ask your sales managers to add oneDealers and general managers abdicated by sidelining that talent when it comes to the more item to their already full plate and selltheir sales managers of the responsibility to Internet? more vehicles to online prospects.create selling processes for Internet leadswhile holding them accountable for lot With nearly 80 percent of automotive Internet David Kain is the automotive Internettraffic and phone traffic. Perhaps this set- shoppers starting the buying process online, training specialist at Kain Automotive Inc.up was born from manufacturers and lead one has to reason that many will walk in and He can be contacted at 800.385.0095, orproviders who surveyed customers and phone in after doing their research and hope by e-mail at dkain@autosuccessonline.found the customer was not particularly to find sales people who have the dexterity to com, or visit www.kainautomotive.com. If Youre Involved With Increasing Revenue, You Should Have One. Buy one subscription for $75 and Read get one FREE! 866.852.0323 16 www.autosuccessonline.com
  • 16. You Are Guaranteed to IncreaseYour Bottom Line in One Year by$250,000 or I’ll Pay You $10,000!Hi my name is Mark Tewart. I am This isn’t some magic-button, pie-a renowned expert in automotive in-sky fad. These are real-world andsales, sales marketing and sales proven methods for massive profitmanagement. Many of you reading improvements. It takes hard work andthis may have heard me speak at lots of commitment.seminars, state association meetings,NADA or NIADA conventions. The second reason for me beingYou may have read my articles in picky about who I work with onAutoSuccess or other magazines these projects is that frankly I don’tor seen my shows on Automotive have the time. To create the massiveSatellite Training Network. results that you and I are looking for requires a great deal of my time andWhether you know me or not, you may effort. I am an in demand speaker, MARK TEWARTbe wondering what allows me to be able trainer and consultant and I own three Tewart Enterprisesto make such an outrageous claim. The successful businesses. Because of myanswer is simple. I have accomplished time restraints, I refuse to spend time 888 2 TEWART (888 283-9278)this for my clients, every time I have and effort with wanna-be’s. I only or 513 932-9526 or email me attried without fail. If a client follows align myself with passionate people info@tewart.com with yourmy full-proof and proven methods, committed to winning. information and we can talk.the results are as predictable as the sun Sincerely, Mark Tewartcoming up every day. That may sound The third and final reason for me beingarrogant to some of you, but to me and selective is my reputation. I can’t write “We have went from 40 cars to 130my select clients it’s just reality. ads like this and make such incredible cars a month and improved our guarantees unless I can bring the gross over $400 a vehicle in oneEvery year I am bombarded with dealers results. My reputation is beyond solid. year and expect to get to 200 unitsthat ask me to help improve their sales a month by the end of this year byand profits. I reject most of them. I only By the way, the $250,000 bottom line using Tewart Enterprises Inc.”choose a few each year to work with improvement is just an example. I have Mark Ward, Ward Chrysler,on such a large scale. There are a few had some dealers increase their bottom Carbondale, ILreasons why I carefully hand pick who lines by more than $1,000,000 in justto work with. one year. Look at this way, I don’t take P.S. Don’t miss my High $10,000 guarantees lightly. I put my Performance Management SeminarThe first reason is that it’s easy for money where my mouth is. June 15 &16 in Cincinnati, OHyou to say you want to improve butmost people don’t want to do the If you want to talk to me in strict Call 888 2TEWART or go to www.things necessary to make it happen. confidentiality, call me at: tewart.com/seminar for details Visit www.tewart.com to receive your free newsletter
  • 17. sts fos ls ms sf fis PattiWood sales and training solution Going Up What’s an Elevator Speech and Why Do You Need One, Part 1 You’re standing at someone on your achievements. An elevator at a banquet to the guy in front of you in the the luggage carrousel speech is also used as a way to network for grocery line. It’s a way of taking advantage at the airport waiting mutual gain. Should you have the chance to of those encounters. for your baggage. talk to a stranger or an important person by When you grab your happenstance, you have something to say to Ideally, the elevator speech is a few sentences bag, the person next them that states the benefits of hiring you or that lead to a meaningful conversation.to you notices your bag tag has your auto using your company, or if they already know There is no need to go into your resumedealership’s name on it and he asks if you what you do, the benefits of considering you points, your company’s mission statement orwork there. You’re able to give him your for other opportunities. It’s also important a rapid-fire delivery of your last 15 businessshort “elevator” speech and intrigue him to listen in an elevator encounter so you can successes. Leave the listener curious andenough that he asks for your card and you support and assist the person you are talking asking for more information, not bored orget his. Later that month you sell him a car. to with their goals. running away.A three-sentence “speech” has led to a greatsale. Are you well prepared for your elevator- The funky name “elevator speech” comes Why the heck do you prepare for one? Thespeech opportunity? from two sources. One source is the elevator speech prepares you to respond to salesmen’s tradition that you need to have any question or opportunity concerning whatWhat is an elevator speech? something ready to say when you have a you and/or your company have done and canThe classic “elevator speech” is essentially a chance encounter with someone in some do. If you’re thinking, “I don’t need to givestandard mini-speech to give to people you nontraditional business setting, like an an elevator speech; I’m not sales,” know thatmeet in chance encounters. You craft the elevator. The other source for the name elevator speeches serve multiple purposes. Itspeech in advance, to answer the questions is the short length of the elevator ride and is not just about getting business. Meeting“Who are you, and what do you or your the short time you may have to get your people casually inside or outside yourcompany do?” If you are giving the elevator objective across. Though it’s called an dealership can help you introduce yourselfspeech inside your dealership or to someone “elevator speech,” it’s a conversation that and establish a relationship with someonein the auto industry, this prepared material can take place anywhere with anyone, from a who can support and mentor you. It can aidcan give you the opportunity to “update” seatmate on a plane to the person next to you continued on page 42 18 www.autosuccessonline.com
  • 18. sts fos ls ms sf fis DavidJohnson sales and training solution The Value of WOULD YOU a Loyal Customer LIKE MORE $$$ Harvard Business front? If you build it (the relationship) they School published that will come (referrals). Sounds too simple, a loyal pizza eater will doesn’t it? It is. Here is a list of a few things generate on average to remember during your follow-up to help $8,000 in their lifetime build that relationship. to the local pizza joint.The loyal car shopper is estimated to be • Be reliable: do what you say you are FROMworth $332,000. If what Joe Girard (who going to do.sold 174 retail units in one month) said is • Be professional and friendly.true and each person does have a sphere of • Be easily reachable. Give out all of your SERVICE?influence of 250 people, then one customer contact information to each customercan possibly be worth $83,000,000 (yes, and call your customers back.that’s million), assuming you are able to • Show interest in what your customermake a loyal customer of his entire sphere. does and send them referrals.Does that number sound too high to be true? • Create rapport with your customer With DealerLOGIX ServiceOPSActually, if you take into account that each of during your routine follow-up calls by service departments are:those 250 people in your original customer’s getting them to talk about themselves. Growing hours per RO and partssphere also has a sphere of their own, then • Allow genuine friendship to evolve revenue using vehicle specific Good,that number would be too low. over time. Better, Best Menus • Send handwritten notes and remember Protecting assets with full disclosureDo I believe that I will get that from each birthdays and anniversaries.customer? Of course not, but that’s not the • Accept responsibility for mistakes and Performing consistent walk-aroundspoint. The point is that, if done properly, fix them quickly. Increasing CSIyou can create loyalty in a customer that will • Commit to excellence. Improving “Fix it right the first time” bycreate wealth for you and your dealership. providing techs with consisitent andSo how do you create the type of loyalty If you serve the customer, more sales will clear issue informationin a customer that will keep them not only come. The less you have to wait on lotcoming back to see you but sending business ups, the easier you will be able to weatherto you, as well? the slumps in the car business. You are the CEO; the best way to increase your businessBy creating positive experiences for the is by having your customer help you. Thecustomer before, during and after the sale, only way that will happen is if you have aand by proactively going above and beyond compensation plan for your customers, onefrom what even the customer expects, loyalty that pays them in customer service, customer “Not only haveis formed. care and servitude. Don’t waste your day by we added $63 waiting for the next up; use that time to call per RO, butIt has been conventional wisdom that if you your customers, send out newsletters and our CSI hassatisfy a customer, you create loyalty. That’s hand-written notes. It’s much easier to ask increased too!”just not right. It’s part of making a customer for referrals after the relationship has had Pat Cox, Hajekloyal, but that in itself is just a small piece of time to develop. Of course, there is a point Chevroleta much larger, tastier pie. To create loyalty, in the relationship where you don’t have toyou must form a relationship with each andevery customer, and afterwards sales and worry about asking anymore; they just show up at your lot, asking for you. If you need Call Now or Go Onlinereferrals will come your way. Relationship any ideas on how to create loyalty with your to Schedule Your Freebuilding takes time and can never be doneduring the one and only visit they made to customers, just shoot me an e-mail. I would love to hear from you. Happy selling. Demonstration Today!your dealership to buy that new Mustang,which was only the beginning. How youfollow up after the sale is how you areable to cultivate your relationship with thatcustomer. David Johnson is the Internet SalesSo why go through the trouble of creating a Manager at Orville Beckford Ford Mercury in Milton, Fla. He can be contacted at 866.872.8150 ext. 72follow-up program that builds a relationshipinstead of just asking for referrals right up 866.347.2379, or by e-mail at djohnson@autosuccessonline.com. www.dealerlogix.comjune 2006 19
  • 19. sts fos ls ms sf fis JimAdams sales and training solution The Speed of Doing Business The retail automotive Joe Verde teaches that they must like an hour and a half to two hours to industry is moving at you before they’ll listen, listen before reach an agreement with a customer light speed. Today’s they’ll believe and believe before and then all of the sudden the customer new-car buyer they’ll buy. First, they have to like has to leave in 20 minutes. Professional is smarter, better you! Look at the customer, make eye sales people must learn how to control informed and, like contact and really listen. We must the sales process and make sure yourall of us, have less time than ever before. build rapport before we can begin the customer has a clear understanding ofToday’s automotive professional must be a fact-finding step of the sale. During the the time that it will take to completehighly trained professional educated with fact-finding step we must find out who the transaction. Remember, once a dealsuperior product knowledge. He/she must the vehicle is for, how many people are is secure at the desk, your customer’spossess excellent communication; follow up, in the family, what the primary use will clock starts ticking. MOVE WITH Aprospecting and selling skills. Now more than be and more. Taking the time to truly PURPOSE. If you want to make sureever we must exercise the “Speed of doing investigate the customer’s wants and that your deal is expedited through thebusiness” principal. Doing it right … now. needs will actually speed up the sales business office, make sure the following process by matching the customer with is complete:There is a fundamental difference between the right vehicle. Once the vehicle“doing it right now” and “doing it right … is selected, if you have to go into the • Make sure the credit applications arenow.” The key difference is the quality of dealership to get keys, MOVE WITH complete and signed. Many lenderswork performed and the speed in which we do A PURPOSE! Run into the dealership require references and previousit. Our goal as a professional is to make sure to get the keys and return to the lot employment information. In some casesthat the essential selling steps are completed quickly. The customer loves to see that a applications can not even be submittedin a timely fashion to ensure that the process sales person is going above and beyond without this information. Take a littlehas little to no wasted time and energy for to serve them. Secondly, the less time extra time to review the credit applicationyourself and the customer. Here are a few that the customer spends alone at the and it will speed up the process.steps to make sure that your customer has dealership the better. Once the vehiclea great buying experience and that they are is pulled from the row and opened • Insure that you have the VIN and exacthandled in a timely manner: up, the sales person should begin a mileage on the unit you are selling well-rehearsed product demonstration and on the trade in. If anything slows 1. Evaluate your process. Take a look and walk-around presentation based down the process, it’s watching the F&I at the keys to a great sales process. A on the customer’s wants and needs, process come to a grinding stop while great greeting is essential. When you which includes a great pre-planned the sales person has to return to the lot to are up, be up. Customer contact is the demonstration drive. A customer should verify information that should have been first impression. Make sure you are not go on an unaccompanied demo ride. complete before the deal was turned into dressed for success, clean shaven and An unaccompanied demo drive will not the business office. are mentally and physically prepared to allow you to demonstrate the features, greet the customer. A firm handshake, a build rapport and ask closing questions • Make sure that you have copies of warm smile and a welcome word starts and actually slows the process down. driver’s license and insurance cards, the you on the road to the sale. Letting Remember the speed of doing business trade payoff and address and any other the customer wander around on the does not mean short cutting the process; requirements before the deal is turned in lot for five minutes also creates a first it means eliminating unnecessary time for approval. impression - one that says, “These in the true sales process. guys are not very interested in me.” 3. Management and F&I. Your sales Next, we must begin to build rapport. 2. Paperwork. A sales person can spend person worked hard on this deal to get it to this point. They deserve your undivided attention. There is nothing that you could possibly be doing more important ELIMINATE PARTS DELIVERY than taking care of the customer that is sitting in your showroom. HEADACHES TODAY! Not short cutting the process only speeds up the process. Evaluate your time that you // Professional Drivers // GPS Tracking spend with every customer and make sure that you are not wasting any of their time or // Guaranteed Service // Lower Liability yours. The speed of doing business means doing it right and doing it now. FREE EVALUATION 888.374.3354 Jim Adams is the general manager at Roper Kia in Joplin, MO. He can be www.dililgentusa.com contacted at 800.905.0627, or by e-mail at jadams@autosuccessonline.com. 20 www.autosuccessonline.com
  • 20. sts fos ls ms sfs fis TimShea special finance solution Investing the Fundamentals In the April issue, we scores today, practically every dealership is A second advantage gained from working introduced Five Critical to some degree in the subprime business. our prospects first through the credit process Success Factors and then engaging in “finance appropriate” for subprime auto. Ask yourself these questions. Are you product decisions is that gross profit will Those fundamentals “re-actively” or “pro-actively” pursuing increase. included: subprime business and how are you handling those customers? Re-active business comes To excel in subprime sales necessitates 1. Dedicated subprime department / from lot traffic. For most dealerships, a working your prospects “backwards” personnel significant percentage of their lot traffic is through the sales cycle: meet, greet, 2. Proper lender relationships subprime. Being pro-active means that you discovery and credit. Credit and the 3. Appropriate inventory advertise for or pursue subprime customers. customer’s capacity to repay a loan will 4. Efficient business systems The challenge faced by many dealerships determine a payment call which translates 5. Marketing who only re-actively or minimally pursue to “finance appropriate” product decisions. subprime customers is how to tailor the way For most sales teams, it’s difficult to moveThis month we will investigate the first of they handle those customers. effectively from “forward” to “backward”those fundamentals, having a department selling. This reason, along with the desireor personnel dedicated to subprime and Properly sold, subprime business is to improve the closing ratio and maximizethe proper process for handling those handled completely backwards from your gross profits, is why most dealershipscustomers. prime business and should be separated benefit from having a separate department from it. or dedicated staff handling subprimeYour dealership should have a dedicated customers. Each team can then commit tosubprime department or personnel. What Our normal habit in the sales process is to and focus on their specific selling style.that will look like will vary from dealership meet, greet, ask discovery questions, engageto dealership depending upon a number of our prospects in a product decision and then Remember these fundamentals are buildingfactors including: training, maturity of your discuss price and financing. If those prospects blocks. Perfecting these basics will help yoursales force, the percentage of subprime sales happen to fall in the half of our population team excel in Subprime sales. E-mail me andto total sales and more. In dealerships with that is “prime” we have acted correctly. I’ll send a checklist of 49.5 Best Practiceslarge subprime volume, the subprime effort If, however, they fall in that percentage of to SUPERCHARGE your Subprime Salesmay involve the entire sales and finance business that is “subprime,” we have not. & Profits.staff. In other dealerships, it may be as (see figure below)simple as one individual working with adedicated number of sales reps. What does Two primary advantages are gained when wenot vary is that these customers should be follow this procedure. First, our closing ratiohandled through a different sales process with subprime prospects explodes. Landing Tim Shea is the president of Great Directthan prime customers. For most dealerships, subprime prospects on “finance appropriate” Concepts. He can be contacted atthat will mean having a separate department vehicles first will improve your delivery 866.853.0223, or by e-mail ator dedicated staff to handle subprime. ratio instantly. tshea@autosuccessonline.com.Let’s first consider the market surroundingyour dealership and why you should evenfocus on these fundamentals. Within a 30-mile radius of most dealerships, an analysisof credit scores shows that approximately 50percent of the individuals have credit scoresof 640 or less. Simply put, the market share istoo large and profitable for most dealershipsto ignore. Because of the dispersion of credit 22 www.autosuccessonline.com
  • 21. fs feature solution KevinMurphy Moving Customers From the Internet to Your Showroom How Modern Consumer’s Helped Special Finance Leader Earnhardt Do Just ThatMr. Ed, the special finance department of a lot more back-and-forth to answer their immediately.” Get a lead provider who develop a separate department, they been to find “how toEarnhardt’s - a six-store, eight-franchise questions. It can be difficult to control is “very dealer-friendly.” Right now, gave it a new identity, complete with develop, internally,car dealership in Arizona - closes 8,000 customers when they aren’t standing in the Mr. Ed closes 9.87 percent of these catchy name: Mr. Ed (logo: horseshoe, skilled individuals insubprime deals a year. Kevin Murphy, one dealership. leads, an impressive percentage for the website: www.MrEd.com) and treated subprime” who couldof the leaders of Mr. Ed, says they never elusive world of online customers. it as another business entirely. handle all the processes,even get in touch with 50 percent of their A major challenge Mr. Ed ran into was that such as marketing,Internet leads. 40 to 50 percent of online customers would ✓ Get a good computer software ✓ Promote from within. computer software and never return e-mails or phone calls, and that program to handle your leads. Earnhardt’s philosophy has always been follow-ups. They createdDealerships should only pay for the leads wasn’t even counting the leads that were With the help of computer efficiency, to hire and promote from within and a process from beginningthat are sent over and not advertising costs. phony or duplicates. “It is a natural fact in Mr. Ed sold just as many cars with 20 hire family and friends when possible to end that is used atTherefore, all advertising dollars are spent on this business that 38 percent of any leads percent fewer employees within one in order to keep the company a family every Earnhardt’s.actual customers. Leads should be exclusive will be duplicates or deadends across all year of using the new system. A good dealership. Those who didn’t beginto the dealership and come with a complete lead providers,” Kevin said. “But the leads computer program can help process as family stayed with the dealership ✓ Get a good processcredit application that has been filtered to can still work. Don’t throw the baby out Internet customers more efficiently. “It so long that “they become family,” – andensure the highest quality possible. with the bathwater.” used to be that if a customer wanted a Kevin said. Mr. Ed, in turn, took this persevere! Earnhardt’s Gilbert payment quote over the phone without philosophy and made it a point to Combining Dodge, Inc., left, andIn 1992, Earnhardts’ had three stores doing If working Internet leads is so hard, how coming in … it would take over half promote within the dealership and train high-volume, Earnhardt Ford Sales,special finance and closed an average of do Earnhardt’s and other dealerships an hour,” Kevin said. “[Now] it takes those already within the organization to good-quality Inc., above, have used15 deals per month, relying on walk-ins succeed? 60 seconds.” There are many CRM become subprime experts, rather than leads with a programs specializingand handling the deals through the primary ✓ Get Online. systems out there; the right one can hiring outside for subprime experience. good computer in subprime sales anddepartment. Brothers Kevin and Terry Mr. Ed began using Internet leads dramatically help Internet efficiency. This attitude engenders loyalty and software Internet lead genera-Murphy recognized the need to make a in 1998, and by 2000 they recorded retains employees. program and tion to become leaderschange - to shake everything up and create 7,200 cars sold. Today, with the help ✓ Diversify. departmental in their industry.a totally new special finance department. of thousands of Internet leads, Mr. Ed Mr. Ed uses 20 different lead providers ✓ Train! processes is“Subprime required a whole new invention closes 8,000 subprime deals a year. in addition to their own lead generator To drive home the family experience, the key tofrom primary,” Kevin said. “To be effective, on their Web site, MrEd.com. Some make a real team and turn regular sales making online to work with at first, they are an essentialwe needed a whole new dynamic.” ✓ Get Volume. providers offer very low volume but people into subprime experts, Mr. Ed subprime efficient. Mr. Ed relies on part of special finance. With today’s online Because more than half the Internet the cost per sale is good, and others employees must go through “Mr. Ed e-mail auto responders. They start customer, understanding online leads canBeginning with an advertising budget and leads a dealership receives will never offer high volume, but usually the cost University” where, along with learning with a basic auto response and follow expand your special finance sales beyonda new special finance department – Mr. Ed result in a conversation with a customer, goes up. In addition, Mr. Ed continues how to handle subprime customers, up with a custom e-mail, as well as a what newspaper and television advertising– Kevin and Terry treated the new project a dealership must rely on volume. It’s a to use newspaper ads and television. they learn the Mr. Ed Fight Song. phone call. After seven days of calling can generate. Mr. Ed’s success has shownas a separate business within Earnhardt’s. numbers game. Mr. Ed also has a motto: “Semper and e-mailing a customer, Mr. Ed that working with high-quality, high-Beginning with newspaper and television ✓ Have a special finance department. Calcitranus Gluteus Maximus,” which employees turn it over to technology volume leads has the potential to expandinfomercials, within a few months of its ✓ Get Quality. “Subprime,” as Kevin says, “is not translates to “Forever Kicking Butt.” and let e-mail follow up from there. your subprime sales beyond expectations.inception Mr. Ed did 100 deals per month. Mr. Ed currently buys 900-1,350 primary.” Not only did Earnhardt’s Kevin and Terry Murphy’s goal has According to Kevin, it takes very littleEverything changed in 1998, however, with DriverLoans.com leads per month. time if you have an efficient systemthe advent of the Internet. They’ve used the same lead source for to find out which customers aren’t Kevin Murphy is the special finance the past two years and Kevin counts going to respond to your efforts. His director at Mr. Ed - Earnhardt Auto Group.Working the Internet on its “consistently high-volume of recommendation? “Have a good, solid He can be contacted atWorking on the Internet with online leads leads.” He also cites the competitive CRM system, work it hard for a week 866.407.8398, or by e-mail atrequires a complete restructuring of price and high quality of the leads, and then put it on an auto responder kmurphy@autosuccessonline.com. Nicole Jaureguy conducts client servicescommunication with customers; whereas but what really impresses him is the and let it go.” at Modern Consumer LLC. She can beit used to be one-on-one in the store, now “fantastic customer service” from his contacted at 866.449.0488, or by e-mail atit is anonymous. Online customers want source. “If we have any questions or Even though Internet leads can be difficult njaureguy@autosuccessonline.com.to protect their anonymity and are very concerns we’re able to get someonereluctant to come in until they have all on the phone right away,” Kevinthe information. They also want all the said. “There aren’t many problems,information instantly, even though it takes but the ones we have are resolved 24 25
  • 22. sts fos ls ms sf fis BryanHopkins marketing solution Five Keys to Selling 100 Extra Cars a Month FordDirect Internet Dealer of the Year Shares Best Practices At Ted Britt Ford, we Gardner Britt Jr., the dealer principal, said we advanced search engine placement and bulk e- attribute our Internet accomplished this by taking the dealership’s mail marketing. We have found that customers success to the fact that customer spirit into the Internet frontier. “The rely on traditional advertising today, which is we hold our Internet entire management staff is strong supporters why we have turned our attention to search department to the same of the Internet and Internet department. You engine marketing. Our goal is to appear athigh standards as sales and service. Family have to, to be successful,” Britt said. Before the top of the list when a customer enters aowned and operated since 1959, Ted Britt turning our attention to the Internet we had popular search phrase into Google. We alsoFord of Fairfax, Va., has been recognized two people handling all leads and selling 15 send thousands of buzzmail campaigns every11 times as a leader in customer satisfaction to 20 cars per month. Today we’re selling month that generate measurable traffic forby Ford Motor Company. We’ve received upwards of 115. Once we found the right no additional cost. Our service departmentthe “Distinguished Achievement Award” for technology and training partner, we focused and finance office do a great job of gatheringsound business practices, been recognized in our energy on the leads that were coming in, e-mail addresses and entering them into ourthe Washington Metro Area as the top-rated the conversion ratio, the appointment ratio, database. We can then choose from hundredsFord Dealership for service and repair and the show ratio and the closing ratio, and we of prepackaged campaigns that we can sendas the Washington Metro Area’s top-volume discovered that the Internet appointments with a few clicks.Ford Dealer. Ted Britt Ford has been No. 1 were often mishandled.for many years in the mid-Atlantic in new Key Three - Process & AutomationFord Motor Company vehicle sales and most Our new Web site, www.TedBritt.com, The best part about our process is that 95recently, FordDirect awarded our dealership was generating more leads than ever and percent of it is automated, thanks to thewith the FordDirect 2005 Internet Dealer of we needed to ensure we were living up buzztrak prospect management tool. Ourthe Year award at the National Automobile to the Ted Britt standards of excellence team has more time to set appointments andDealer’s Association Convention and in customer service. Our technology and sell cars. We established a central InternetExposition in Orlando. training partner helped us establish a strategy hub and automated follow up to lighten the and process for managing the increase in load on their Internet sales manager (ISM) leads. As a result, we’ve increased Internet and Internet specialists.Sell More Cars sales, closing ratio, customer satisfaction, reduced cost per sale and gained nationwide recognition. In this article I’ve outlined the Key Four - People Finding and keeping the right people toWith CarTube top five keys to our success. Keys to Success manage increased inbound phone and Internet leads is a challenge because high turnover is a fact of life in the car business. Includes free software to create flyers FordDirect recognizes a dealer’s efforts to Our Internet process is well-established, Attaches easily to your entire inventory use the Web and CRM to gain incremental making it easy to plug a new person in and sales. Our goal is simple: Get the lead and the automation makes it easy for new people Great for after-hours shoppers help the customer move forward in their to succeed quickly. Quality weather resistant construction purchase decision. Below is a summary of what we’ve learned along the way. Key Five - Measuring Return on This silent salesperson works 24/7 Investment Key One - The Technology The great thing about the Internet is that We bought an eCommerce and CRM system. we track and measure everything. Right The system includes a high-end custom now, our closing ratio from our Web site’s Web site and prospecting/CRM tool that coupon leads is 30 percent. If you were a automates a lot of our phone and e-mail sales person, would you rather deal with follow up activity. This allows us to get those odds or with a walk-in who knows more done with less effort and the multi- nothing about the dealership? I know what media buzzmails help us drive traffic and the answer is at our store. stay in touch with unsold prospects through targeted bulk e-mail marketing. With just a for few clicks we can reach thousands of people Call ree with a message that gets attention. a F ple! Sam 1.866.973.9490 Key Two - Marketing Bryan Hopkins is the Internet director at Ted Britt Ford. He can be contacted at www.cartube.com We’ve dramatically increased traffic to www. TedBritt.com and to our dealership through 866.842.1968, or by e-mail at bhopkins@autosuccessonline.com. 26 www.autosuccessonline.com
  • 23. sts fos ls ms sf fis JeffMorrill sales and training solution The Essentials of Leasing More Cars How leasing benefits theft or accident, there’s no risk of owing the difference between $20,000 and the residual. the customer: bank more than the insurance proceeds. The residual is a forecast of the value of your • A lower monthly • Great way to put an end to being upside car after the lease term, and the bank stands payment down in the loan. Instead of rolling negative behind that forecast.” • A safer, more equity over into a new loan, nothing is owedreliable car all the time, and not just when the at lease end. See the sample comparison below, between acar is new 60-month loan and a 36-month lease:• A car under warranty with fewer repair Why leasing benefits you as a salesbills person: Loan:• Investing cash elsewhere instead of tying it • Shortens the trade cycle - The averageup in a depreciating asset Subaru customer, for instance, owns his/her $20,000• Sales tax only on the monthly payment car for seven years. The typical lease term isinstead of the whole car (this may vary half that, so you sell twice the number of cars. Bank collects alldepending on state) • Increases urgency - At lease end, a customer $20,000 from you• Owing nothing at lease end with the option can’t postpone making a decision about a new over 60 monthsto buy your car at a wholesale price car because the old one is going away. plus interest.• Excess miles are cheap to buy on a lease • Simplifies negotiation - It’s a lot easier to $0(10 cents per mile up front) compared to the fit a payment into a customer’s budget than todepreciation on your financed car (more like dicker back and forth over the selling price. Monthly Payment = $42025 cents per mile).• Gap insurance is free from most Keys to successful lease presentations Lease:manufacturers. If a leased car is totaled in a • Ask this question early in qualifying: “Would you like to look at lease options?” $20,000 Bank collects Yes or no doesn’t matter. The important thing is to introduce the lease option early. $8,000 from you If the first time they hear about leasing is at over 36 months $12,000 plus interest. the end of closing, after you couldn’t fit their (residual) budget with a finance deal, you make leasing look like a desperation move rather than a $0 credible alternative. • Any time you quote finance payments, Monthly Payment = $300 quote the lease with it. Some customers will choose leasing on payment alone! Handling The Top-Ten Objections to Leasing How to present the lease 1. With a lease, I don’t own anything. The biggest objection customers have to “When you take out a loan, do you get the leasing is that they don’t understand it. title? Not until you pay off the whole amount. People tend to fear and avoid things they So you don’t really own it till it’s paid off. A don’t understand, especially when they are lease is the same way. The bank retains the in an uncomfortable environment (such as a title and if you want to own the car you just showroom). Your success with leasing will pay off the lease.” be determined by your ability to explain it in simple terms. Try this: 2. With a loan, I own the car at the end. “True. But not much of a car! A five-year- “Mr. Customer, when you get a $20,000 old car with nearly 100k? If the lease saves loan, the bank pays us $20,000 for your you $120 a month for the term of a 60-month car and keeps your title until you pay off loan, that’s $7,200! (And that’s assuming the entire $20,000, plus interest. When you you didn’t make some interest on it by lease, the bank also pays us $20,000, and investing it or putting it in the bank.) What’s keeps the title. What’s the difference? With a 100k-mile car worth? Probably not $7,200! a loan, the bank wants back 100 percent So you would have been better off saving of the $20,000, plus interest. With a lease, money along the way instead of parking it in the bank only wants you to pay back the a depreciating asset. 28 www.autosuccessonline.com
  • 24. continued3. It’s better to own than rent. “The reason the value of the car at trade-in time? Cars damage have to pay too - because they getyou should buy a house instead of rent is depreciate about 25 cents per mile but they less on trade in. You don’t get a bill in thebecause the house almost always appreciates. only cost 15 cents on a lease if you go over. mail for it, but you still pay it. Furthermore,But cars depreciate. Why would you want to If you buy them up front, they’re only 10 our experience with lease returns is that theown something that’s going down in value?” cents! So if you’re concerned about driving inspectors are pretty lenient about minor a lot of miles, we’ll build them into the lease damage because they want you to get another4. I can’t trade the car in before lease end. for you. Either way, you’re better off putting lease!”“Actually, you can. After driving your car for too many miles on somebody else’s car!”30 months, don’t you think it’s less expensive Jeff Morrill is co-owner of Planet Subaru in Hanover, Mass., and Planet Chrysler Jeepto get out of a 36-month lease that’s almost 10. I had a bad experience with a lease in Franklin, Mass. He can be contacted atup rather than a 60-month loan that’s only because I had to pay for damage at the 866.872.8699, or by e-mail athalf paid?” Approximately 40 percent of end. “People who trade in financed cars with jmorrill@autosuccessonline.com.people owe more on their loans than theircars are worth - not only do they not haveequity, they are actually ‘upside down.’” R5. You seem awfully excited about leasing,Mr. Sales person. What’s in it for you?“Because our lease customers pay less to “HE’S LIKE VIAGRAdrive a nicer, safer car that’s under warranty,they are almost always thrilled with theirexperience here. The margins in auto retailare thin, so we’ve built our business on the FOR YOURvolume of repeat and referral business fromhappy lease customers.”6. I don’t want a new car every few years. TRAFFIC COUNT” - Tom Belt, Toyota of EscondidoI like to buy new, pay the car off, and thenhave the car without a payment. “While youmay not have a payment in those out years, How much does it costthere are still costs. You’ll be spendingmore in repairs to keep an older car on the every time someone atroad, older cars use more gas and pollutethe environment more, have fewer safety your dealership talks tofeatures than modern cars and are more likely a customer and doesn’tto break down and leave you in a dangeroussituation.” know what to say? Alan Ram7. Do you lease? If yes, “Yes I do, as do mostof my colleagues here. And who would knowbetter than the insiders?” If no, “I drive a car In-Person and Interactivethat I had before I started here. I’ll definitelylease my next one.” Solutions for Telephone/Internet8. I drive too many miles. “Cars depreciate and Business Development.about 25 cents per mile. Yet with a Subarulease, you can buy additional miles upfront "Having utilized the services of many top-level automotive salesfor only 10 cents. At the end, if you go over, trainers over the years, absolutely nobody impacts our bottomthey’re only 15 cents. People who put a lot of line while drawing the raves of our sales and management staffmiles on financed cars usually end up owing like Alan Ram."more than they are worth - not only do you - John Chmela, COO, Atlantic Auto Groupnot own your car, it owns you!” toll free: 866.852.03289. I had a bad experience with a leasebecause I drove over the miles and I had e-mail: info@proactivetrainingsolutions.comto write a big check at the end. “If you had web: www.proactivetrainingsolutions.comfinanced the car, don’t you think that piling on Viagra is a Registered Trademark of Pfizer, Inc. Rextra miles would have substantially reducedjune 2006 29
  • 25. sts fos ls ms sf fis RichardLibin sales and training solution Don’t Let Profits Walk Out the Door Every week hundreds they can afford. Car buyers rate the helpful from you now and over time. of thousands of dollars attitude of the sales person as one of the in potential sales – major reasons why they buy their car. None 2. The vehicle – With this, the goal is to guide client leads – walk into talked about being sold a car by the efforts clients and help them build an emotional tie car dealerships. The of a persuasive sales person, but rather they to the car that meets their needs, wants and cost to the dealership described how a sales person guided them to desires; only then talk price.of bringing each of these potential clients a buying experience.through the door averages $300 per lead; 3. The Selection Specialist – Here, the goal isthe cost of watching them walk out the door When this happens, sales and Total Vehicle to ensure the client gets quality time, “The Redwithout making a purchase can be thousands. Gross TVG increase, and satisfied clients Carpet Treatment.” The Selection Specialist make referrals and return for additional must connect, listen, learn and lead the sale inProspects who leave dealerships usually services and accessories. an inviting and comfortable manner and avoiddescribe their experience as uncomfortable confrontation at all costs.either because the sale is not moving in a Creating a client-centric environment involvespositive direction, the sales person is not an ongoing process comprised of training, Next, a training program must be developedconnecting with them or they are not being evaluating, coaching and retraining. It cannot and delivered to each and every employee,shown a car that meets their needs. be accomplished by allocating a lump sum for from the management team to the greeter, a one-time, quick-fix solution. payroll clerk, service manager and technician.Clients want a retail culture that makes car It should encompass every detail required tobuying a comfortable experience where sales The first step is to identify the goals. Client- meet the goals from changing the vernacularprofessionals give them quality time. Most centric dealerships help their clients choose to the sales process and the follow-up.prospects walk into a dealership ready to three things:buy a car. The sales person doesn’t have to Consider the impact word choices have onpersuade them to buy; he/she just needs to find 1. The dealership – The goal is to make the attitudes. Instead of using “ups” (a direction,a car with the features they want and a price client glad they came and eager to purchase not a human being) or “customer” (an individual who makes a single purchase and leaves) train your professionals to think of potential buyers as clients, guests with whom they should foster a long-term relationship. While you are at it, re-characterize their jobs as “selection specialists,” specifically trained to help each individual satisfy their automotive “Our first wants, needs and desires. Loyalty Driver™ Training should teach employees to use a well-structured and clearly defined sales e-newsletter generated process. When this happens, clients have an entirely different experience. Imagine this: 90 follow-up calls.” • The greeter welcomes the guest saying, > Scott Haynes, Penske Chevrolet and Honda “Welcome to APB Motors. My name is IMN Loyalty Driver is a complete e-marketing service Susan.” Susan collects the guest’s name that has been proven by nationally-recognized dealers to: and introduces them to a selection specialist. (This is where management • Capture and convert “be back” prospects begins monitoring the process to support into sales. the sales specialist on a continuous • Instantly connect sales staff with “ready-to- basis.) test-drive” prospects. • The selection specialist says, “I’m glad you are here; my job is to help you select • Increase loyalty by maintaining regular contact a car and get you a price, fair enough?” with current customers. • From there, the selection specialist Start your program today: contact our auto sales group communicates with the client – connects at ASGSales@imninc.com or call 866.964.6397, ext. 214. with them in a manner of speaking – listens and learns what the guest needs, wants and desires. He/she then quickly identifies a model that fits those needs. The selection specialist scans the driver’s license before he or she creates 866-964-6397 imnLoyaltyDriver.com the Demo Drive. Throughout the drive the selection specialist guides the guest 30 www.autosuccessonline.com
  • 26. continued as they experience the features that work seamlessly together in order to become the required resources, this process will pay will satisfy their wants and desires, and effective, strategic “members of the team.” back exponentially in increased sales, TVG builds an emotional bond with the car at Once this is accomplished, training is the next and lifelong client relationships. the same time. step. Professional training and education must • Upon returning, they visit the service be provided for every employee. department where the guest receives a thank-you gift. After selecting the Where’s the money in today’s market? It vehicle from inventory that meets the comes into your dealership every day. The key client’s needs, wants and desires, they is not to let it walk away by creating a client- Richard F. Libin is president of Automotive move to the showroom to close the centric culture through continuous training Profit Builders, Inc.. He can be contacted deal. and education. When viewed as a priority at 866.450.6853, or by e-mail at • Price is the last point of discussion, with budget as a percent of sales allocated to rlibin@autosuccessonline.com. raised only after the guest feels at home and has built an emotional bond with the car, dealership and the selection specialist. This process results in more closed sales, higher TVG and more satisfied long-term clients.For this to work, management must keepthe training and education program going ona continuous basis using both internal andexternal resources. For a minimum of 30days after the initial training, managers recordeverything that should have been changedbased on the newly-defined process.Once adjustments in the process are finalized,the team should be provided with individualcoaching, practice, evaluation and retraining,as well as clearly communicated expectationsand goals. After another 30 days, managersshould evaluate the management informationreport and repeat the process where needed.This should be complemented by a quarterlyupdate and reviewed to ensure behaviorchanges and a new client-centric culturebegins to become ingrained in the dealership.Simplifying and Supporting the ProcessA dealership should define its structure andbusiness processes first, identify and adoptthe technology that supports them and thenthoroughly train and educate every employeeon its use. When this happens, every employeewill have both the access and the ability toleverage systems to improve performance.In addition, managers will be able to retrievethe data they need to measure and analyzesuccesses and failures, and make informeddecisions about adjusting business, sales andtraining processes to maximize the successes.The right technology with the right trainingbecomes an integral part of a client-centricenvironment. Technology provides an assistin understanding clearly what happens on aday-to-day basis in the dealership, trackingclient status, easing the follow up process andproviding accountability across the board.If a dealership has a plethora of CRM systemsin place the first step is to identify the one or,at the most, two systems that best support thebusiness structure and standardize on thesesystems. These solutions must interact andjune 2006 31
  • 27. sts fos ls ms sf fis ScottJoseph marketing solution Scott’s Individualized Consultation Transcripts John (real name S: When you mail to these lists, what – because I know how much you enjoyed the omitted to protect the happens? Corvette when you drove it off the lot three store’s identity) is the J: We get a decent response with our own list. years ago – that perhaps you’re ready now owner of a Chevrolet The credit list results are going downhill. I to consider another one so you experience dealership on the east think that’s one of the main reasons sales have that feeling again. If you are, this would be coast. His customer flattened out. We’re having trouble growing at a wonderful time to get the exact Corvette ofsatisfaction scores are above average, but his the same rate we did in our first year. your choice at a substantial discount and withsales are flat. no money down.” Try that. S: When you say decent response with your own list, what do you mean? How many do J: Interesting!His television ads were bringing in somebusiness, but weren’t conveying the uniqueness you mail to and how many actually respond S: Do you see how a message like that isand high quality his store has to offer. They and buy? completely customized to the individual?were also using direct mail, but felt the list J: We usually mail to our whole list, which is I mention his car and when he bought it. Ifcontained a lot of “deadwood.” just over 8,500 people. We usually get over you knew that down payment was the most one percent that actually comes in and our important factor to him when buying, thenIn this consultation, I gave John a wide range closing percentage is 22 percent. you could tie in the down-payment offer orof innovative ways to approach prospects, any other offer he indicated was critical to hisshowed him how to resell existing customers, S: So, for a $10,000 expenditure, you get purchase decisions. This goes way beyond justand told him how to word a compelling message something in the vicinity of 85 people who personalizing a letter. See what I’m saying?to convert his “deadwood” into live buyers. will walk in the store and about 19 people end up buying? J: Sure do! Would you suggest only mailingIf you want to reach more prospects or convey to people who have bought here before? J: Well, I make sure we follow up witha stronger and more compelling message, everyone that doesn’t buy, as well. Usually S: You’re not a previous customer of mine.read this transcript! within a week we end up selling an additional Did you read the material I asked my people five to six cars. to send you?Scott: I did a little research on your store, but S: What do you usually gross on each J: Yes.give me a little background real quick. vehicle? S: Did it register with you?John: I bought the dealership a couple of yearsago. In the first year alone sales doubled. Since J: During a sale like this we’ll average right at J: There were lots of good things.then, sales have flattened out. We average 115 $2,100 a deal front and back. Usually we pick S: The one thing I hope that I can teach younew and 79 used vehicles per month. up anywhere from $40,000 to $50,000. in the context of this consultation is thatS: Is it making money? S: So, of 100 percent of your current business, you let your marketplace tell you what the how much comes from your past customers best approach would be by picking a lot ofJ: Yes, it is. We’re doing fine. and prospects? suppositions and conservatively dividingS: It looks like you really enjoy what you’re your customers into test groups or cells. Try J: I don’t know. I’ve never really looked atdoing. one approach to 1,500 and another approach that.J: We like to take care of our customer. We to another 1,500. Then analyze which S: Is it safe to say you want to bring in new approaches are the most profitable and gowant them to enjoy the experience of buying people who will buy from you again and forward. Perpetuate those that work and rejecta car here. That’s what our whole idea is. again? or stop the ones that don’t. I can tell you whatS: How many people would you presume in to test and give you suppositions, but the only J: Right. I want to bring in new people.the radius of your store, 50 miles or so, would vote that is really important is whether thebe prospects? Would there be 10,000? S: Do you segment your previous customer market embraces it. list according to what they’ve purchased,J: That’s a good question. Our newspaper J: One of the problems I have right now is that when they purchased, monthly payment and/circulation is over one million. As far as real we’re going out to about 8,000 people when or what is most important to them when theyprospects we would probably want to talk to we target the credit score lists and our results buy?around 50,000 people. aren’t nearly what they used to be. We used to J: No, we do not. I’m sure we have some ofS: You’ve got a marketing budget of $50,000 get close to one percent, but now we’re lucky that info because I know we keep the car theyper month right now? if we get over a half percent. The point is that bought on file, but we don’t use it.J: Yes. this list is getting more and more expensive S: If you know somebody has a certain to…S: How is it currently being allocated? model car, what their monthly payment is Over the next several months the rest of thisJ: About half goes to television. We spend and that their term is about to expire, it would private consultation will be printed. If youabout $12,000 in the paper, $10,000 on be interesting to send them a letter saying, would like it in its entirety now please e-maildirect mail and the rest goes to local used-car “John, I hope you’re still thoroughly enjoying Scott Joseph at the e-mail below.magazines. the Corvette you bought from us. I’m writing today to tell you that starting on…, and running Scott Joseph is the president of J&LS: Who do you mail to? for…, ABC Chevrolet is trying something Marketing, Inc. He can be contacted atJ: We use a credit score list most of the time rather unusual. We’re going to have a special 866.429.6846, or by e-mail atand our own list about twice a year. sale solely on Corvettes. It made sense to me sjoseph@autosuccessonline.com 32 www.autosuccessonline.com
  • 28. sts fos ls ms sf fis DavidJacobson sales and training solution The 7 Commandments of Selling, Part 1 What is the most Your customer needs to hear reassurance. Can don’t we figure out what is important to you important word in you learn to identify the magnitude of their and then we can figure out which direction to sales? Without a doubt, situation? Are you able to make them feel go. Fair enough?” empathy, for without it, you appreciate their concerns and they’re not you have nothing. alone in feeling that way? Reassure them that You reassured them that it’s all right to be you are there to walk them through the steps unsure, and that you’re willing to spend theWhy is this so important? Extending empathy safely. time to help them through the steps.connects you to the customer in a way thatwords cannot describe. Empathy is the bond. Empathy is used throughout the sale. It is most Empathy versus sympathy important when trying to land a customer on It is truly amazing what is accomplished byConsider this example: an exact product. changing your sales approach from pitchingIt’s your first time sky diving and you are about and qualifying to mentoring, consulting andto jump out of an airplane. Which scenario Many sales are lost at this point. A sales advocating. The challenge is that most saleswould make you feel more comfortable and person asks the customer, “What type of car people are uncomfortable in this role and it isat ease? are you considering?” The customer says, “I portrayed as such to the customer. The vicious haven’t really thought about what type of car. cycle continues.The instructor says to you, “This is easy, just I just know that I need to replace mine.”do it. It’s not a big deal.” Empathy is not sympathy. You do not want Typical response by a sales person: “Two to alienate the customer by making them feelOr doors or four doors? Stick or automatic?” bad. Empathy is only effective when it is from the heart. You can use it when needed and stillThe instructor says to you, “Oh, I remember This does not address their true initial be sincere.my first time. I was so nervous, but the rush I concern – you.experienced helped me overcome my fear. Just Let’s say a customer is shopping for a car andbe in the moment and trust in my experience Try this: “Yes, I know how confusing it can they seem distant and unemotional. Most salesto keep us safe.” be with all the choices available today. Why people do not know how to handle this type of 34 www.autosuccessonline.com
  • 29. customer. The customer can be perceived as which we asked him what he did prior touninterested to the untrained eye. Stop selling quoting the price. “The customer was lookingand respond in a gentle manner. for the specific car and asked for my price. I gave it to him and he left.”For example, ask a customer:“How have you found the experience of It’s true that quoting list price can be perceivedshopping for a car?” as an insult, especially to an educated buyer who has been shopping around. So what doMore than likely in one way or another they we do? Discount every car, every time? Trywill say that it’s horrible and they can’t wait to prejudge who will pay list and who won’t?for it to end.Your rejoinder: First of all, you do not have to make excuses“Yes, I’ve heard that in the past from some for asking list price for a car. That is thecustomers. It starts off fun and becomes a manufacturer’s suggested retail price. Gettingburden. Is this how you feel?” a discount should be an exception to the rule.They will usually elaborate and give you an Roger tried something different next time: heexample of their experience. This is good. stopped selling and forgot the car and the priceAlthough sales people do not want to hear it, – he talked to the customer about themselves;this builds the bond and gives you an idea of how they heard about the dealership and whatwhat turns them off. they enjoyed doing when not shopping for a car.No matter what stage in the selling processyou are in, empathy works its magic. When Roger met his next customer, for the first three minutes, he engaged in goodIf a customer cannot commit during your close, conversation with the customer. It just soexplain that you understand how difficult happened that the customer was a bartender.it is to make such choices. This will allow This was a very good bond, since Rogeryou to go through the steps of summarizing owned a restaurant prior to working in thethe reasons this is the deal for them, without auto business.engaging their force field. Even if a customercannot decide on a color or whether to use And, when Roger reported on theiryour financing, empathy has an effect. conversation, he was given the list price for the car his customer was interested in,Practice using empathy by role-playing. As to which he went back and quoted it. Thesales people, we are so geared towards selling customer then said, “Come on Roger, I foundthat we do not hear some of the elements that the car at another dealership for $1,300 less.are key to the sale. You can do better than that.”Empathizing with emotions opens What goals were achieved?opportunities for building a strong and trustingrelationship. Being real is a good thing. Don’t Roger now knew where his customer hadbe afraid to ask personal questions. Empathy shopped, the price he was quoted, and thatis like a warm blanket for the ego. People his customer really wanted the car. Since theywill share emotions, provided they feel had established a bond, the customer not onlycomfortable. stayed, but also told him every objection up front. Plus, they were on a first name basis. HeMake a friend before you insult made a friend before he insulted the customer.Roger had five years experience in auto sales The results speak for themselves.and considered himself a professional. Hisgrosses, however, were considerably lower Once you’ve established a relationship,than some of the other sales people. you’ve earned the right to guide a customer through the sale. Whether a customer is angryHis grosses were low because he wasn’t or scared, making a friend enables you toasking for higher ones. When he was asked control the sale. If you told a stranger in theto try and quote all of his customers at list street that you didn’t really like what theyprice, he replied that his customers were too were wearing, what would be their response?intelligent to pay list and he would insult What would be the response if you shared thethem. With skepticism, he agreed. same comment with a friend?When Roger’s first customer sat down at hisdesk, he quoted list price on a new Buick. Thecustomer stood up and walked out on him. David Jacobson is the founder and president of GrooveCar Inc. He can be“You see what happens when you quote list contacted at 866.663.9038, or by e-mailprice? He walked out on me,” he said, to at djacobson@autosuccessonline.com.june 2006 35
  • 30. sts fos ls ms sf fis LauraNoonan marketing solution Higher Response Rates and More Leads Fool-proof Advertising With Vanity Numbers Vanity phone numbers, and used vehicles. We have hundreds of day. The more impressions you provide, the like 1-800-FLOWERS, affordable models in all shapes and sizes. better the retention rate by your audience. are proven to pull more Call Jim’s Dealership today at 800-NEW- responses and generate CARS for a car quote that you can afford. 5. Brand, brand, brand. more leads when used Call 800-NEW-CARS today.” When you activate a vanity 800 phone in advertising. In fact, number, be sure to get one that ties into yourmany business owners experience at least a 30 2. Say It Loud and Proud. product or service. A car dealer who uses 1-percent increase in ad response, and some are Put your phone number on everything 800-NEW-CARS is stating the obvious, butdoubling and tripling their responses. They from business cards to company cars. Hire we need that as consumers. It enhances theattribute success like this to using a vanity troops to scream it out from the top of the brand, the ad message and the opportunityphone number in all forms of advertising, tallest building. Seriously, make sure people to be remembered by your target audience.like broadcast, print and outdoor. know how to contact you. Use it in all of If you are selling real estate services 1-800- your advertising. Radio, print, television, NEXT-HOME is a clear indication of whatRon Henson, general manager of an auto billboards, collateral materials, even on you have to offer. As a matter of fact, apartdealership in Utah, saw results with his your Web site for local searches. Think big, from your company name, a strong call tonumber. He increased his call volume 650 branding, billboards or moving billboards. action and a branding vanity phone number,percent, which enabled his sales team to Using your vanity number on all marketing you do not need to include much else in yourmove more units off the lot. He compares materials and in all advertising campaigns ad. That will avoid clutter and the chancethe number of units sold in November 2005 delivers consistent messaging and ensures that of overwhelming consumers with too muchto previous years and attributes the up-tick to the number will pull more leads and sales. information.more phone-ups coming into his dealership.“We are shattering previous sales records by 3. Say it in a Song. Finally, test it and track it. Create two separate50 percent, and I attribute this success to our Everyone loves a good jingle, and the songs ads using the same creative elements, justnew advertising, which prominently features have been proven to stick with people forever. switch up a toll-free phone number for aa vanity 800 number,” Henson said. Take Folgers: “The best part of waking up is vanity 800 number in one of the ads. Then Folgers in your cup.” Using jingles in radio track the response you get from each ad. ItFollow the advice below to make sure you and television ads has been hugely successful has been proven that people will rememberuse a vanity 800 number as effectively as for businesses in food, packaged goods and a vanity phone number (one that spellspossible to maximize the power of your even the automotive industry. They create an something, like 1-800-PICK-UPS) in a radioadvertising budget, increase lead generation emotional connection with consumers. And ad 14 times more than they will remember aand get results like Henson. they can last for years and years (as long as numeric number. So you will be able to test they are not too cheesy or annoying). The ad campaigns and specific media channels1. Lather, Rinse and Repeat. cost of creating one jingle has huge payoff to find out which ones in your local media/We all read the back of shampoo bottles and if you use it to brand your business, run it advertising market are best for your success.laugh at the obvious instructions to “lather, in all broadcast ads and increase your leadsrinse and repeat.” But this is great advice, and sales. When using a phone number as a direct-when you think of it in other contexts — ones response tool there is no question that truethat may not be so obvious. For example, 4. More is More. vanity 800 phone numbers are the easiest tomake sure you feature a vanity phone number Make sure you give your advertising remember and produce higher response rates.in all advertising. And, when you are using campaign and direct response tool a chance.your vanity number in broadcast be sure to Run a moderate to heavy ad schedule. If it isrepeat the number at least three times — in a radio ad, be sure to run it on several stationsthe beginning, the middle and as the last bit that target your audience and run the ads atof information to finish off the commercial. least several times a week on each station. Laura Noonan is vice president of The same goes for television and print. We marketing for 800response. She can beFor example, “Call 800-NEW-CARS today all have a better chance of remembering a contacted at 866.388.1397, or by e-mail atfor more information on in-stock new phone number if we hear it several times a lnoonan@autosuccessonline.com. If Youre Involved With Increasing Revenue, You Should Have One. Buy one subscription for $75 and Spring into get one FREE! 866.852.0326 36 www.autosuccessonline.com
  • 31. Shift Your Sales Career into High Gear! After the training the first year, my income tripled. Brian Ege, Colorado Excuses for not attending probably cost me over a million dollars in earnings. Sean Ragland, California Attend Tom Hopkins Boot Camp Sales Mastery It’s the single best investment you can make in yourself. Tom Hopkins is world-renowned as a master sales trainer. He’ll help you discover: - how to communicate better with clients - qualification strategies that tell you if they’re ready to buy today - presentation skills that help clients take ownership - objection handlers that work - more closes than you ever thought possible Boot Camp Sales Mastery August 24 -26, 2006 Scottsdale, Arizona 866.391.1767 www.tomhopkins.com
  • 32. sts fos ls ms sf fis GlennGoldman leadership solution A Hidden Cash Asset - Your Customer’s Future Credit Card Sales “Cash is King” – how 14 working days. If the business is already often have you heard using one of the company’s approved credit that saying? But in card processors that time can easily be the world of small reduced to 72 hours. businesses, cash flow is the real King. Flexibility: Most traditional small business loans require a fixed payment every month, Most businesses will need a cash infusion without regard to cash flow. A reputable at some point, to modernize, to open new merchant cash advance provider collects locations, to purchase equipment or to provide a fixed versus variable portion of the continuing education options to employees. receivables it has purchased only when the business processes credit card transactions. If traditional funding sources fail to provide That means, it gets paid when the merchant businesses with a viable financing solution, gets paid. If sales are seasonally trending there is another option. Most businesses downward, so does the amount remitted, can obtain the money needed to complete helping the business manage its cash flow critical growth-driven or business- without additional stress to the business. sustaining transactions by tapping into a little-known “hidden asset” – their future Fees: Reputable merchant cash advance credit card sales. providers rarely impose charges like application or expedite fees. Because these A Viable Option. companies receive a specified percentage of Often referred to as “credit card receivable each credit card batch and not a fixed monthly funding” or “merchant cash advances,” this payment, there are no prepayment penalties type of funding is similar to factoring, but or late fees. based around an event that has yet to happen – a future credit card sale. A body shop owner, Facts to consider before recommending for example, sells a fixed amount of future this product: credit card sales to a purchaser (i.e. a funding Collection Period: Your merchant cash provider) at a discount in exchange for cash advance provider will collect the receivables today, typically as much as $150,000 per it purchased over a much shorter time location. The business owner then delivers period than most loans or leases – generally the future receivables it sold via its credit card within one year. For some businesses, this processor. Each day the location is open for shorter cycle is not feasible. Others prefer business, its processor delivers a percentage this timeframe because it ensures that an of its credit card sales to the funding provider outstanding obligation is handled quickly. until it has delivered the total amount of receivables sold. Use of Proceeds: Most merchant cash advance providers are interested in providing capital Because this kind of “factoring” arrangement to help their customers grow and enhance involves a purchase and sale of future credit their businesses. They will emphasize in their card receivables, it is not a loan product. So underwriting a use of proceeds consistent there is no interest rate, no set repayment with that goal. This funding should be used term and no monthly check to write. Other to help businesses manage unexpected benefits of this arrangement include: expenses, take advantage of business development opportunities and strengthen High Approval Rates: Companies that their business – not sit in a “rainy day” fund. provide merchant cash advances can approve businesses that banks decline and usually Provider Reputation: Because this funding value businesses like automotive dealers, is relatively specialized, using an established auto parts retail outlets and automotive provider with a proven track record is repair shops. important. Ask how many total customers they have served, the total dollar volume of Ease: The application is often less complicated funding provided, available funding capacity and has fewer documentation requirements and how many businesses have taken multiple than those for traditional funding products. fundings. Speed: Providers of merchant cash advances Glenn Goldman is the CEO of AdvanceMe, Inc. in Atlanta, GA. He can be can make approval decisions quickly, often contacted at 866.281.7593, or by e-mail at making working capital available in less than ggoldman@autosuccessonline.com.38 www.autosuccessonline.com
  • 33. sts fos ls ms sf fis MarkTewart leadership solution The Most Important Decision of Your Life On November 19, is that your personal philosophy is simply 2005, a day after decided by you and your own free will. having surgery, I was diagnosed In my lifetime, I have been both poor and with squamous cell rich. I have had both sad and happy times. I carcinoma cancer. I have lived through tragedies and triumphs.would compare receiving the news to going One thing that has never wavered has beento the dentist and being numbed. However, my mental approach to whatever has comethis numbed my whole body. For 20 minutes towards me. Nothing can create wealth andI rushed through all kinds of thoughts abundance in any segment of a person’s lifeand emotions – shock, anger, “why me?” more than their attitudes and thoughts.questions, sadness. I have seen materially rich people with greatAfter the 20 minutes, I made a big decision. poverty of mind and I have seen people inI decided to live. I decided that all of the great struggles with an attitude of abundance.emotions and thoughts I was experiencing Wealth and possessions can flee in an instant,were not supporting me. I decided right then but nothing or nobody can take away yourand there to switch my mind and all actions mind and your choice of thought.to that of support and complete cure. At thatmoment, I was cured. Whenever friends or relatives would begin to discuss my disease, they would focus on how it was so unfair, especially since I am ... your a lifetime non-smoker. Ninety-nine percent of the particular cancer that I had occurs in attitude and heavy smokers. I had to make a decision not to focus on whether it was fair or not and focus "Processing vehicles to the Internet power of on what could be done to move forward. has never been easier. We take multiple photos of each vehicle and your mind I made a decision to research my disease. I wanted to be empowered in my decisions. I save time with the VinStickers system. The photo uploading is seamless, make a created a regimented approach that included traditional treatment along with nutrition, simple and cost effective. Our sales data is accurate and powerful. We difference in supplements, whole body detoxification, dont wait for someone once a week exercise, proper rest, mental imaging and and the savings are enormous. We everything prayer. Some of these approaches were give it our highest marks." never mentioned by traditional medicine you do practitioners. However, I made the decision to be in charge of my knowledge and my in life. actions. After witnessing many people going through treatment for cancer and experiencing bothOn January 31, 2006 I received my 33rd my parents passing from the disease as well, Dustin Zeck - GM - Danny Zeck Fordand final daily radiation treatment. I am I am more convinced than ever that your Lincoln Mercury, Leavenworth, KSnow cancer free. I did not need the doctor attitude and power of your mind make ato declare that for me; I had already made difference in everything you do in life. Yourthat decision from the day of diagnosis. decision about your attitude in life is theI had even told my doctor that at my first most important choice of your life.appointment.My whole life I have believed in the power ofthe mind. The ability to create your outer life Mark Tewart is the president of Tewart VinStickers.comfrom thoughts and emotions from within are Enterprises. He can be contacted at 866.662.1984undeniable. Nothing is as powerful as your 866.429.6844, or by e-mail atpersonal philosophy in life. The good news mtewart@autosuccessonline.com. sales@vinstickers.comjune 2006 39
  • 34. sts fos ls ms sf fis GaryLinam marketing solution The No. 1 Suzuki Dealership in the Nation is Selling 25-40 Referral Appointments Per Month Before becoming the future dream dealership, and we moved. It and maintains a database so we can see the No. 1 Suzuki dealer became imperative from day one that we get referral sales progress month by month. In in the nation, Driving customers in, period. The thought of failure addition, it also provides a means of building 2000.com was a used- never crossed our minds, even though we a data bank of home and e-mail addresses, vehicle operation that had moved from a small location to what which is valuable for batch e-mails, mailingshad a respectable following in the Huntsville- was like a palace to us. and other ways of staying in touch.Madison, Ala. area. I was very fortunateto have assembled a diverse and motivated As we looked to fill the place up with people Using this program, we were able to offersales and management team. We did not have and cars, our advertising budget skyrocketed. each and every one of our customers to bethe benefits that a franchise store has, but we We were getting people in, and their a sales representative for our company. Wehad talent, motivation and good inventory - response to our product and salespeople was finally had an organized way for the salesmany of the ingredients of success. tremendous. It became obvious to me that people to train each of their customers, referral sales could give us a critical edge in along with a great pay scale to give themWhile we grew, it became obvious that our our retail numbers. That is when we started incentive send lots of referrals. During theused-car operation was going to need larger using our referral software program. The year, customers receive $100 for their firstquarters. A local Acura dealer had built a “Online Bird Dog Club” allows sales people referral, $150 for their fourth, $200 for theirbeautiful dealership on “Car Row,” and had to sign customers up for the program, and seventh and $250 for their 10th and everyleft it a short time later, not being able to shows them the graduated pay/commission one thereafter. We also had a way for thehandle the overhead. The lot was huge, and scale. Our software keeps track of how sales people to track who their “top dogs”the building spacious and beautiful. My wife, many referrals each customer, or “bird dog,” were, and learn to stay in touch with thoseBeverly, and I decided it was the home of our sends to the dealership, as well as creates people. The program has been effective; many “bird dogs” send in between 10 and 30 referrals, with the top customer sending 41 referrals in one year. More than 90 percent of our customers were signing up for our referral club. We were building a database of hundreds of customers that were signing up with their sales person, committing to send in additional business. The customers could see clearly that we would reward them, and increase their bonuses with every sold referral they send in. Our sales people were having a blast, selling 15 to 20 cars a month - and then we got the Suzuki franchise. Sales exploded. Everything clicked at once. We started selling new Suzukis, our referral club was firmly established for our sales staff, and within 22 months, we were at the top of monthly, then yearly, Suzuki sales. Our referral sales now are 25-40 retail units a month, we have the top six Suzuki sales people in the nation, and we are firmly planted in the No. 1 spot for national Suzuki sales. Gary Linam is the general manager and president of Suzuki of Huntsville, Ala. He can be contacted at 866.406.6493, or by e-mail at glinam@autosuccessonline.com. 40 www.autosuccessonline.com
  • 35. continued from page 18 capture their attention. With that in mind, a hotel, or standing in a line at a restaurant for a brief meeting in a public setting, you or copy shop. Knowing that, I know how toyou in letting people outside your normal need an eight-second speech, about three craft my speech for that particular audience.circle know what you can do. It can help sentences long, ready to go for a short “threeyou get an appointment with someone who floors” of travel. You also want a 30-second What is your goal?is “ungettable” through normal gatekeeping to two-minute “going up in the Empire State What do you want to accomplish? Do youchannels. It may help you get feedback Building” version of your speech at the ready want people to recognize the brand of youror advice that would be difficult to get for longer interactions such as plane rides, company’s name? Do you want them to seethrough formal connections. Outside your dinners and parties. your kind of car or dealership as the best ofdealership, introducing yourself and having the best? Do you want them to know wherean elevator conversation can provide you Should you memorize it? You don’t need you are located? Do you want to fish for awith PR, help you find out what customers to memorize your elevator speech word business lead or push further for a sale? Dowant and network with powerful people, as for word - in fact, that may make it sound you merely want a good response to thewell as bring the financial success of good insincere. Know what you want to say and question, “What do you do?”rainmaking. rehearse different responses so that you can be confident enough to deliver the Now that you know the value of a goodPreparing and practicing the speech not appropriate response with gusto and make it elevator speech and you have answered theseonly can affect your opportunities, but your spontaneous enough to navigate any changes questions, you are ready for next month’spersonal credibility as well as the reputation in the moment. article on “How to draw a stranger into aof your dealership. Or, it can simply get you conversation,” and the final article on “Howthrough those awkward social interactions The first two steps in preparing your to write and deliver an elevator speech.”so you know what to say when someone “Elevator Speech” Until next time, notice all the opportunitiesasks you what you do. You may be thinking, Who is your target audience? Where might you have in your life to meet people and“Speaking is not my favorite thing to do and you meet them? Are you likely to meet have a great elevator conversation.I don’t want to sound canned.” Remember, prospects? Do you want to network withthough we are calling this an “elevator other successful people in the auto business?speech,” the goal really is to have a good Are you looking for potential employees orconversation. new vendors? By writing out your target audience, you can begin to think about howHow much should you say? Imagine that to customize your message for them. For Patti Wood is the president ofthe person you talk to is holding a remote example, I know I am looking for clients, Communication Dynamics. She can becontrol with a mute button, and you can get so my best audience is typically a business contacted at 800.849.3651, or by e-mail atthe idea of how long you typically have to traveler I might run into at the airport or in pwood@autosuccessonline.com. 42 www.autosuccessonline.com
  • 36. Congrats! eCRM HerbChambers.com Dealers Tasca.com of the Year DickHannah.com CDodge.com ParagonCars.comHouseofCourtesy.com Sheehy.com RedMcCombs.com Schomp.com9 10 BZResults.com Winners use out of Free CRM Biz Plan & BZResults.com Free In-Store Consultation 877. BZ.TOOLS 877.298.6657