Can you significantly increase your closing ratio, even if you are a leader in your market? YES, OF COURSE, YOU CAN! Did you know that the average closing ratio for the automotive industry is 20 percent – that’s one in five customers. Yet, according to market research, 8 out of 10 people specifically come to your dealership to buy, and more than 85% will buy within a week. What’s more, over 70% of non-buyers report that the dealership had a vehicle in stock that they wanted! So, whatever your closing ratio, there’s tremendous room for improvement. Even if you could increase your sales by just two to four units per salesperson per month, you would dramatically increase your closing ratio as well as your overall sales and profits? That’s a modest goal, isn’t it?
What happens to those customers who walk out your door? Sometimes they purchase a vehicle from another manufacturer, but all too often they purchase the very same vehicle from your competitor. You know this is true, because it happens in reverse as well. I’m sure you’ve seen them – customers who visit your showroom after they’ve already test driven the same car at another dealership. Do you really think that they would have done so if the first salesperson had built a strong personal relationship with them, earned their trust and respect, and demonstrated the true value of the vehicle? Even if they were doing comparison shopping before they decided to buy, they might return to the first dealership just to buy from the salesperson who treated them in a friendly and courteous manner while building trust.
The number 1 reason that consumers buy from sales people is that they like and respect them. They want to do business with them because they believe they are sincere, trustworthy, and have their best interests at heart. That’s why your sales people need to know how to welcome customers with a smile, build personal relationships, listen carefully to their customers’ wants and needs, and gain their confidence and trust. Of course, they can’t do that without having excellent product knowledge and a solid understanding of the sales process. Most important of all, your sales team needs to view and treat everyone who enters the showroom as a potential buyer. If they expect to close the deal, they will. If they don’t, they won’t. Great sales people turn “prospects” into satisfied and loyal customers. How often do you see the salesperson trying to sell management on the deal, advocating on behalf of the customer?
When you meet a salesperson that you like and trust immediately, don’t you want to buy from him or her? If your whole sales force could make an instantaneous connection with their customers, what would that be worth in increased sales and profits? Remember 80% of the people entering your showroom are coming there to buy!
Winning friends and building trusting relationships are skills that can be taught, and they can be habit forming.
Automotive Training & Development trains on developing personal relationships instantly. Don’t you deserve to have the best sales force available? Contact Automotive Training & Development at 888 717 2010 today to be on your way to dramatically increasing your sales and profits!
Fred G. Slabine
Automotive Training & Development
Automotive Training & Development offers a full array of services, including recruitment and training of new hires, advanced training for seasoned professionals, and human capital management training for sales managers. For more information, please visithttp://www.automotivetraining.us or call 888-717-2010.