AutoSuccessOct05

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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

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AutoSuccessOct05

  1. 1. AutoSuccess Best Practices Summit III Details Page 4 .bizDealix: DrivingOnline Auto SalesVice Presidents Steve Pace andDean Evans Talk Sales from10 Years in the Business
  2. 2. PUT YOUR DEALERSHIP UNDER THE LIGHTS WITH AUTOTRADER.COM AND ABC’S MONDAY NIGHT FOOTBALL.AUTOTRADER.COM HAS TEAMED UP WITH ABC’S MONDAY NIGHT FOOTBALL TO GIVE YOUR DEALERSHIP THE WINNING EDGE.Make the big play, and drive more traffic to your dealership with AutoTrader.com’s sponsorship of ABC’s Monday Night Football. This sponsorship will have ahuge impact and reach 12.5 million households each week. Only AutoTrader.com can offer you an opportunity this big. Which is why we’re the driving forcebehind $50 billion in used-car sales every year. So take advantage of this sponsorship, and find out why AutoTrader.com is the smarter way to sell more cars.2005 ABC Monday Night Football Sponsorship: • The biggest match-ups every week • Every wild-card game in January • AutoTrader.com Post-Game Show Call AutoTrader.com at 1-888-249-6860 today.©2005 AutoTrader.com is a trademark of TPI Holdings, Inc. and is used under license.“ABC’s Monday Night Football” is a registered trademark of ABC Sports, Inc. and is used under license.
  3. 3. Dean Evans David Kain Darren Sean Scott Joseph Vice President of President, Kain Haygood WolÞngton President & CEO, Marketing, Dealix Automotive Inc. Owner, BZResults.com J&L Marketing, Inc. General Manager, Internet & BDC Training Lokey Nissan Case Study: How Case Study: Johnson You will learn: Specialist to use BDC/Internet City Honda: Sells 65 - Internet Marketing that You will learn: departments to sell extra cars a month generates high quality You will learn: - The "Real Deal", 100 - 500 extra cars a and grosses increased leads - Mapping out the best maximizing REAL ROI month. $1,300 per car - Maximizing lead Internet sales process - e-Commerce success, You will learn: generation from your - E-mail templates for choose the right solution - Setup a successful You will learn: Web site the best short and long- for your dealership BDC/Internet - How to add 33% to - Maximizing third party term communication - Used cars, sell more at department your bottom line and not automotive sites - Phone script elements HIGHER grosses - Use the Web to increase ad budget - Metrics that matter that turn leads into promote all your proÞt - How to grow your - New cars, to BDC or - Focus on return on appointments centers customer base not to BDC - Use the Web to drive investment - Recruiting, hiring and - How to increase your - Spend $200 to sell showroom & phone compensating for results average gross per unit 9 units trafÞc - How to increase - Sell old stock, vehicles purchase frequency plus & parts inventory customer residual value - Use e-mail marketing to drive more trafÞc for zero cost Steve Hiatt Keith Latman Jasen Rice Chip Perry Jim Adams Dealers & Managers Only! Owner, Mountain CEO & Co-Founder, Internet Director, Lou CEO and President, General Manager, Mitsubishi iCarMagic Fusz Automotive Roper Kia AutoTrader.com Case Study: How toincrease your net by half a million in a year. Case Study: How to avoid the smoke Case Study: Ranked #17 in Total Internet Sales for dealer groups, Internet Advertising Honor Your Two days of intense learning. Dramatically improve and mirrors and use Best Practices Commitments: The You will learn: Internet departments technology to increase Þve things we owe our - Evaluating personnel, generate upwards your bottom line sales staff of 20%-40% of the your results. the lazy or content ones You will learn: - Continually train You will learn: dealerships total - How AutoTrader.com’s everyone: Front end two - How to use software business. top performing dealers You will learn: times a week, Þxed end tools to merge the You will learn: get their outstanding - How to understand that once a week Internet & Showroom into - Marketing to today’s results opportunity generations - Put in controls. Move a cohesive opportunity Internet consumers are the key to success over aged inventory in - Internet Department’s - Take home - How to manage lead new, used and parts steps and processes to examples of effective - Individual goal setting providers and Web site - Forge a deep trafÞc to bring on real the appointment/sale merchandising you - Managing activities relationship with your ROI & not just hype - Gaining revenue in the can put to bring resultsmanufacturer to help get - When technology can Þnance department and immediate use - Daily one-on-ones: The correct inventory, ßoor help you and where it getting them to become key to success line and capital can hurt you more atoned to the - Your selling attitude: - Praise every - E-mail prospecting Internet customer improvement in sales pitfalls, how too much - Meeting and exceeding Mirroring behavior goals, certiÞcations, etc. of a free thing can hurt Internet customers - Building your dealer out in public your store expectations brand MGM Grand Las Vegas, Nevada November 3 & 4, 2005Randy Barone Vice President of Robert Revere CRC Director, Avondale Kevin Root VP & GM, Dealer Jennifer Picheco Erik Stuttz Vice President of Consulting, STC Group Limited Seats, Register Today! Sales, American Auto 866.317.7914 Auto Group Advisory Service, The Director of Exchange Inc. Cobalt Group e-Commerce, Germain Case Study: Paragon 10 Must Haves for Motor Company Honda & Acura uses Case Study: Transition CRC to sell 106 extra Todays Used Vehicle Case Study: Processes Department from Internet BDC to Case Study: Germain cars in one month. the top 20 dealerships modern day CRC Motor Company’s You will learn: You will learn: Case studies from successful use to convert more Internet department - Sales people, the leads to sales - How we increased our sells over 200 cars per leads and increased right number and the You will learn: month - here is our our closing ratio from 7 dealerships across the country. right type - Lower compensation You will learn: secret percent to 25 percent - How to achieve a 50 percentages percent closing trade-in - Use the top three - How to evaluate the - Lower overhead key success drivers to You will learn: different CRC models ratio - 100 percent convert leads to sales - Dedicated vs. to choose the one that - What to list online for Designated works for your store maximum results accountability - Avoid the three most - The pricing fear factor Class room style seating only - How to eliminate common mistakes that - How to staff your CRC - Higher results - Are you really listening - How to build out & wholesale loss kill sales to the customer? overcome obstacles to - What to stock (80 - Maximize your lead - Third-party leads... $695 in advance, $995 after percent of inventory creating a successful volume Why not? CRC turning in 22 days - Respond to leads - Move forward or move - Best practices for or less) on - Our follow-up October 5, 2005.- Best practices of some - Drive for appointments turning leads into schedule appointments that show of the largest dealers - Focus on processes - Measure, track and and appointments intoand dealer groups in the that deliver results feedback sales country Speakers and times subject to change
  4. 4. SUMMITIII BEST PRACTICES LEADERSHIP • INTERNET • CRM • MARKETING • BDC • SALESCall today to register. toll free 866.317.7914 web www.autosuccess.biz
  5. 5. Making the Most of Change 8 BrianTracyINSID Just Promoted to Internet Manager, What to do First Understanding the Difference Between a Web Site and a Total Marketing System Can Help Sell an Additional 500 Cars a Month The Science of Persuasion 10 12 9 AnthonyHall DavidKain RadWeaver Used Vehicle Market: Get Your Piece of the Pie 14 RandyBarone Matching and Mirroring 16 PattiWood Ride Employee Development to the Top 18 TomGegax Dealix: Driving Online Auto Sales Vice Presidents Steve Pace and Dean Evans Talk Sales from 10 Years in the Business 20 BrianAnkney Crunching the Numbers: Many Dealerships Pay More than Necessary in Trash Bills 22 TracyGetz Can I Trust You 24 MarkTewart Use Your Own Unique Leadership Style to Build a Better Team Beyond the Vision 26 CarolMartin-Ardell Using the Service Drive to Sell VSCs 28 TonyDupaquier Quick-Þx Ideas 30 ScottJoseph This is YOUR Life, Don’t Trust Your Memory 32 MichaelYork People Won’t Go Along With You if They Can’t Get Along With You 34 SeanWolfington A Perpetual State of Motivation 36 JimAdams Matthew 21:22 “If you believe, you will receive what you ask for in prayer.” 3411 Pinnacle Gardens Drive Louisville, Kentucky 40245 ! Toll Free: 877.818.6620 " Facsimile: 502.588.3170 James 3:17 Patrick Luck, Editor & Publisher • pluck01@autosuccess.biz “But the wisdom that is Susan Givens, Vice President • sgivens02@autosuccess.biz from above is first pure, then Courtney Paris, Sales-improvement Strategist peaceable, gentle, and easy to be • chill-paris04@autosuccess.biz intreated, full of mercy and good Brian Ankney, Sales-improvement Strategist • brian01@autosuccess.biz fruits, without partiality, God Bless America Thomas Williams, Creative Director • twilliams03@autosuccess.biz and without hypocrisy.” AutoSuccess 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@autosuccess.biz. 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. 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 in whole 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 that names 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.
  6. 6. BrianTracy Making the Most of Change To deal with change, Acceptance is the opposite of rejection or adjusting your mind to the new information perhaps the most resistance. Acceptance keeps your mind calm and preparing to take steps to deal with the valuable quality and positive. The minute you accept that a change effectively. you can develop is change has occurred and that you can’t cry flexibility. Form the over spilled milk, you become more capable The final part of this four-step method for habit of remaining of dealing with the change and turning it to dealing with change is to improve on theopen-minded and adaptable to new your advantage. existing situation. Often, a change signalsinformation and circumstances. When things that your plans are incomplete or that yougo wrong, as they sometimes will, instead One of the best ways to deal with the worry might be heading in the wrong direction.of becoming upset or frustrated, practice that is often generated by unexpected Serious changes, which seemingly createlooking into the change or reversal for the changes is to sit down and answer, on paper, real problems, are often signals that you areopportunity or benefit it might contain. the question: “What exactly am I worrying on the wrong track. There is an old saying, about?” “Crisis is change trying to take place.” If,Superior men and women are invariably instead of resisting change, like a pine treethose who remain calm and keep their wits In medicine, it is said that accurate diagnosis that snaps in a strong wind, you bend withabout them amid unexpected turbulence. is half the cure. When you sit down and change, like a willow tree, you will often findThey take a deep breath, relax and assess the define a worry situation clearly on paper, it that the change is a healthy and positive stepsituation objectively. They keep themselves suddenly becomes less stressful to you and it toward achieving your goals.calm and unemotional by asking questions will often resolve itself. In any case, when itand seeking information when things don’t is clearly defined, you have diagnosed it, and W. Clement Stone, the founder of Combinedwork out as they expected. For example, if you can now do something about it. Insurance Company of America, is famoussomeone doesn’t fulfill a commitment, or if for his attitude of being an “inverse paranoid.”a sale is canceled or fails to go through, they The second step is to ask yourself, “What He is convinced that everything that happenskeep their minds clear and steady by asking is the worst possible thing that can happen is part of a conspiracy to help him to be morequestions, such as “What exactly happened in this worry situation?” Much worry and successful. Whenever something unexpectedin this situation?” They deal with change stress comes from the refusal to face what occurs, he immediately says, “That’s good!”by focusing on getting the facts before might happen as a result of your difficulty or and then looks into the situation to find outresponding. They develop the ability to cut problem. When you clearly define the worst exactly what is good about it.through the confusion and ask questions such possible outcome and write it down next toas “Why did this happen? How did it happen? the definition of the problem, you will find The mark of a superior person is “toleranceHow serious is it? Now that it has happened, that whatever it is, you can handle it. Often for ambiguity.” This simply means thatwhat are the various things we can do?” your worries will begin to evaporate as soon you have the capacity to deal effectively as you have clearly determined the worst that in a rapidly changing situation. The higherThe critical issue in dealing with change is might happen as a result. up you go  the greater your income andthe subject of control. Most of your stress and responsibilities, the higher your status andunhappiness comes as a result of feeling out Now decide to accept the worst possible position  the faster the rate of change willof control in a particular area of your life. If outcome should it occur. Mentally resolve be around you. At every stage, it will be youryou think about the times or places in which that even if the worst possible consequences ability to function with calmness, clarity andyou feel the very best about yourself, you will ensue from this situation, it will not be the quiet assurance that will mark you as thenotice that you have a high degree of control end of the world for you. You will accept it kind of person who is going places in life.in those places. One of the reasons you like and carry on. In fact, it could probably be In the final analysis, your ability to performto get home after a trip is that after you walk a lot worse. The very act of accepting the effectively in a world of ongoing change isthrough your front door, you feel completely worst possible outcome completes the cycle the true measure of how well developed ain control of your environment. You know of eliminating from your mind the stress and person you really are. And the keys are towhere everything is. You don’t have to anxiety associated with the situation. accept change, adjust to change, improveanswer to anyone. You can relax completely. upon change and move on to the nextYou are back in control. You are now ready for the third step situation. As you continue to do this, you will in dealing with change, and that is to have such a wonderful feeling of self-controlWith a clear idea of where you’re going and adjust your behaviors and actions to the and self-determination that your whole lifewhat you want to accomplish, you develop new situation. Ask yourself, “What are all will be bright and positive, and so will yourresilience, which is the ability to bounce back the things I can do to make sure that the results.rather than break. You develop what is called worst possible outcome does not occur?”the “hardy personality” and become the type Sometimes we call this damage control. Inof person who is resistant to the negative business schools, this is an important part ofemotions that affect people who have no decision making, and it is called the mini-maxgoals or direction. regret solution. What can you do to minimize Brian Tracy is the chairman and CEO the maximum damage that can occur from an of Brian Tracy International. He can beThe first step in dealing with any change unexpected change or setback? As you begin contacted at 866.300.9881, or by e-mail atis simply to accept the change as a reality. thinking of all the things you can do, you are btracy@autosuccess.biz. 8
  7. 7. AnthonyHall The Science MEET YOUR NEW of Persuasion Selling is the ability and slow pace, try to do the same thing. This E-PLOYEE... to be able to persuade is called mirroring. another human being to see things your Proceed with caution; however, do not let way, as it relates them be aware that you are copying them. WORKS 24/7 WITHOUT A They might interpret it as mockery and you’ll to the car business, just get into trouble. SICK DAY OR VACATION!and to purchase the car you’re selling, at areasonable price. 3. Be cheerful and niceA professional automobile sales person is Did your mother tell you to be nice to people?a professional mind changer, a persuader. She was right. People like others who brightenSelling skills are word tracks and processes up their day. Make sincere compliments todesigned to persuade another person to act or raise their spirits. Little things like these gothink in a predetermined manner. a long way to breaking the ice and getting the relationship off to a good start.In the sales profession, words are your 4. Be sincere and trustworthytoolbox. The only thing you really are paidto do is to talk with customers. The words Make them feel that whenever they need helpand actions you choose and the order you in the future, you’ll always be there to lend them a hand. You’re their go-to guy or gal. TIMEHIGHWAY.COM replacesspeak them and action you take, reflect the People tend to be more receptive to those telephone-based scheduling withinterpersonal skills that separate great salespeople from those who are merely poor or they trust. When you have a customer you are internet technology that enhancesaverage. trying to sell, over-deliver and exceed their the effectiveness and customer expectations. They will notice your efforts satisfaction of your dealership.Good communicators are always good and will be more than glad to do business By scheduling appointmentslisteners. Success in sales is directly with you and your dealership.proportional to a person’s ability to effectively directly through your web site, 5. Provide them with compelling evidence your customers make conÞrmedcommunicate with customers. Explain to them that you, your dealership and appointments instantly withoutThe saying, “No man is an island” is an vehicle could provide the most benefits for call-backs. TimeHighway.comundeniable truth. We need the support and them. Show them undeniable proof that you puts your service department’scooperation of our customers to help us in have the best product by way of testimonials,reaching our goals. magazine articles and detailed comparisons schedule on your web site, against your competitors. Just make sure that making it possible to scheduleSelling skills is an area we need to study all your claims are true and verifiable. Always appointments 24 hours a day, 7in detail, daily. The relationship with the maintain a good reputation. days a week, from anywhere.customer is more important than anyprocedures or negotiation techniques. 6. Show “What’s in it for them”Structuring a sale is a series of events. This is the most important thing to remember • Your 24/7 Revenue when persuading anyone. People are self-Successful sales people know that one of centered. They always put their own well- Building Toolthe most important abilities to possess is theability to persuade and influence others. Here being before others. No matter how close • EfÞcient and Simple to Use you are to becoming like them or howare seven hot tips to do this effectively. overwhelming your evidence is, if it does • Automatic ConÞrmation1. Enter their world not satisfy the “what’s in it for me?” test, and Reminder EmailsTry to put yourself in the customer’s shoes your persuasion efforts will not produceand understand what would be important in satisfactory results. If you can prove that your • Cost Effective: Only 54the next vehicle from their point of view. Set proposal will provide more advantageous cents an houraside your personal interests and concentrate benefits to them than you, they are moreon the customer. Ask yourself if you are him likely to accept it.or her, what would you want from your next For More Information Contact 7. Genuinely care for themvehicle? What would be your concerns? Then Karen Dillon at 800.901.3054 or Focus more on their interests, desires, needsstructure the appropriate vehicle presentation and expectations, so you can satisfy their kdillon@TimeHighway.comthat would build value and point out the craving for attention and establish mutualbenefits. trust and respect. It also shows that you really2. Mirror their body language care about them and that will make them morePeople feel comfortable with those who are likely to trust you and to work with you.like them. Copy the person with whom you 5633 Strand Blvd, Suite 302are trying to create a connection. Observe Anthony Hall is a training consultant Naples, FL 800.901.3054how they act, how they speak, and how they at Ziegler Supersystems. He can be www.TimeHighway.comthink. If they rub their forehead while they contacted at 800.610.9047, or by e-mail atthink, act like them. If they speak at a clear ahall@autosuccess.biz.october 2005 9
  8. 8. DavidKain Just Promoted to Internet Manager; What to do First Congratulations to the Leads – There are many sources of leads, Be Specific and carry it out to the fullest new group of Internet and your dealership likely has leads coming detail possible. managers out there! in from a variety of sources already. Keep You are embarking in mind that you will receive leads by e-mail 4. Learn your products on an exciting and by phone depending on your listings. Internet customers have easy access to adventure that will Both types are vital to your operation and it information about their choice of vehiclesallow you to increase your income by is important that your team be the recipient and they typically know a great deal aboutserving the fastest growing segment of the of the e-mails and the calls related to the their choices. As a result, they tend to judgeautomotive marketplace. Be excited about Internet. Your lead management tool will the dealership person they communicatethe opportunity and bring a lot of energy to be the best source for identifying your lead with on a more critical basis if they cannotthe role. Regardless of what situation you sources. A good rule of thumb is to generate effectively answer questions about theirwalked into, there are some important first 80 to 100 leads for each full-time Internet products. To meet Internet customers’steps you should take to ensure you have sales person if they work the deals from expectations it is important that you ensuresolid success now and in the future. Take lead inception to vehicle delivery and to that each person on your team is fullythese five steps first and you will set the generate 150 to 200 leads for full-time BDC/ committed to learning about the productsstage for good results. CRC or call center team member if they set you represent. appointments for the dealership sales team.1. Identify expectations New inventoryOf course you have your own expectations Example Lead Sources Have your team become product certifiedand would likely not have accepted the job • Dealership Web site leads by the manufacturer and sharpen their skillsif you did not feel you could improve your – www.yourdealership.com with product presentations by the dealershipincome and position within the dealership. • Manufacturer leads sales team. Test drive the products so theyHowever, it is equally important to find – FordDirect.com, BuyaToyota.com, can learn about the unique features andout what your management team expects GMBuyPower.com, etc. benefits.from the department. Ask them how they • Third-party leadswill measure the department results and – Dealix.com, AutoUSA.com, Used inventorybe sure to obtain objective goals that you Autobytel.com, etc. Do a daily inventory walk, test drive newfeel you can reach. It is important that you • Online classiÞed leads arrivals and ask the sales person that tradedunderstand what actions are necessary to – AutoTrader.com, Cars.com, for the vehicle to tell you about the historyachieve the goals and how management will AutoExtra.com, etc. so you can bring the vehicle to life for thework with you to support your efforts. • Online Auctions customer. – eBay.com, Overstock.com, etc.2. Identify resources 5. Walk in your customer’s shoesTools – Today’s progressive Internet In order to understand what your customerdepartment’s should have the following toolsin place to effectively manage leads and Draw a simple expects from your Internet department it is important that each Internet team memberallow your Internet sales team the flexibility process diagram on visit the sites where your customer submitsto work with customers both in and awayfrom their office. a sheet of paper that leads. This will allow them to experience first hand what messages your customer identiÞes the steps receives while on the site and after they • PC – Every person working with Internet leads should have individual to take and who submit the leads. This will be an eye- opening experience and will tell you a great access to a computer so he or she can should take them deal of how customers are influenced by the actively manage leads. • Lead management tool – An effective to complete the lead submission path they take. You will also understand why customers are a little lead management tool keeps you action within your surprised when a dealership e-mails or calls department when a organized and allows you to manage them after they submit a lead. large volumes of leads and market to your customers long-term. new lead arrives. There is plenty more to learn, but taking • Cell phone – In order to fully serve these first five steps will give you a head start the Internet customer you will need a and allow you to generate sales this week! cell phone so customers can contact 3. Outline a lead handling process you when you are away from your There are a lot of different patterns for desk. managing leads, and most of them work if • Two-way pager – An e-mail pager you implement them consistently. Draw a allows you to respond anyplace simple process diagram on a sheet of paper David Kain is the automotive Internet anytime, which will likely exceed that identifies the steps to take and who training specialist at Kain Automotive Inc. your customer’s expectations and should take them to complete the action He can be contacted at 800.385.0095, or position your dealership to sell the within your department when a new lead by e-mail at dkain@autosuccess.biz, or customer first. arrives. visit www.kainautomotive.com. 10
  9. 9. RadWeaver Understanding the Difference Between a Web Site and a Total Marketing Strategy Can Help Sell an Additional 500 Cars a Month Dealers often look at feature of all your advertising. If you use that’s important to most customers. We started our Internet success billboards, make sure the customer sees to shift out thinking when we began to look at and ask me what www.ABCDealer.com. We’ve implemented our Web site as more than a place to go online makes our Web site a number of innovative ways to gather e-mail to get information about our dealership, our unique. For starters, addresses so that we can launch promotional products and our services. The difference our success involves e-mail campaigns periodically, as well. between our old templated site and our newmore than just an awesome Web site, it is due The key here is that the e-mails are unlike system is that www.RedMcCombs.com nowto our entire Internet CRM strategy. anything else on the market. For example, serves as a total marketing system to drive our customers view a movie-mail that more phone traffic, showroom traffic andOur success is due to our strategy to create includes sound and animation that works on Internet leads, and as a result has helpedmore traffic, to increase our closing ratio, our slow connections. us sell an additional 500 vehicles in onegross, CSI and loyalty. Our strategy includes month and generate 750,000 in additionalonline marketing, search engine marketing, We also know that seven out of 10 customers gross. Specials are prominent and frequentlye-mail marketing, CRM tools, the right do their research online and might not look updated, and the customers automaticallypeople, process and pricing. The reason we to the newspaper when they begin their get a virtual test drive on the vehicle inincreased our sales from 100 to 500 cars a shopping. For this reason, we’ve made sure which they’re interested. This indicates tomonth is because we have implemented all of that when the customer uses a popular search us that they’ve submitted a lead, and what’sthese key components. engine like Google, they’re likely to see our great is that our system automatically sends name at the top of the list. out another movie-mail. At this point, theFirst, the right Web site will generate high customer receives a brochure, a “Why buyquality leads and lower your cost per sale, but The next step in the customer experience is to here?” multi-media e-mail, competitiveonly if you get the customers there. One way actually visit the site. While they’re there, our comparisons and a phone call to set theto do this is to make your URL a prominent new site makes it easy to find the information appointment. If we are successful in setting the appointment, the movie-mail might be designed to confirm the appointment and provide directions and let them know how fast, fun and easy it is to Keep your customers get a car this way. Our system even includes messages in the event that someone doesn’t for just pennies a day. show and of course, there’s a whole suite of campaigns for unsold follow-up, sold follow-up, service reminders and renewal campaigns. We have learned that the majority of customers don’t but right away and therefore, Loyalty DriverTM by . we need to follow-up sometimes for three to is email marketing made six months. That is why our CRM tool is a critical part of our success. In particular, our easy. Your own customized CRM tool automates all of our long-term e-newsletter with profes- follow-up and as a result, it adds five to 10 sionally written content percent to our overall closing ratio some and sophisticated report- months. ing including our unique Although our Web site has won many awards buy signal allowing you to it is only part of our strategy. However, know when your customer together with our online marketing people, is ready to buy. process and CRM tools we have used it to sell 500 extra cars a month and that number continues to climb. CONTACT US TODAY at 866-964-NEWS (6397) ext.214 Rad Weaver is the Internet director at Red McCombs. He can be contacted or email us at loyaltydriver@imninc.com at 866.210.2838, or by e-mail at rweaver@autosuccess.biz. 12
  10. 10. RandyBarone Used Vehicle Market: Get Your Piece of the Pie Dealers using an street to the used car lot. can identify training opportunities to ensure automated system to outstanding customer service. manage trade closing Achieve an optimum trade closing ratio ratios in their used Determine the necessary steps to ensure the Do you have multiple stores? You can get car business have optimum trade closing ratio for your store. the latest reporting and monitoring so that increased gross retail Learn know which vehicles to vie for and information can be reviewed regarding singleprofit by 10 percent. They also have reduced which to pass on to have the right inventory. point or multiple stores from anywhere in thewholesale losses by 37 percent and achieved country. You can also obtain a track recorda turn time of just two days. If you aren’t Software is now available that shows you of recon and how fast a vehicle goes fromusing an automated system, think about the which product you need to stock to have 80 service to being front-line ready. You can getimpact it could have on your business. percent of inventory turn in 22 days or less. recommendations for which vehicles to list The software determines when a vehicle is online to maximize time and profits.Automated systems enable dealers to keep being appraised over or under auction bookclose tabs on the percentage of used vehicles and market data. This helps ensure that the Don’t allow the competition to take awayappraised versus vehicles actually traded. By best decision is made while the customer is your customers because of deficient tradehaving this information at your fingertips, still at the dealership. closing ratios. You have the potential toyou can better determine the steps needed easily double your used car business byto achieve an optimum trade closing ratio. Show your customers good taste and using current technology.To maximize your profitability, you need excellent servicea trade closing ratio of above 45 percent. In addition, your customers and sales team canThis means trading for 45 percent of all be confident that the appraisal your dealership Randy Barone is the vice president of sales at American Auto Exchange Inc., aused vehicles appraised. If you don’t have provides is backed by solid data. If you want subsidiary of JM Family Enterprises Inc.this type of ratio, too many of your potential to track the performance of sales personnel, He can be contacted at 800.901.3017, orcustomers are taking their business down the each individual’s activity is available. You by e-mail at rbarone@autosuccess.biz. 14

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