Fine Art of Prospecting Builds Relationships, Increases Sales

by Richard Libin
WardsAuto, Industry Voices
December 12, 2014

Prospecting is a lost art. It has to be taught, nurtured and perfected.  Yet in most businesses today, it’s rare that anyone teaches salespeople how to prospect. 

Delays Drive Dealership Customers Crazy

by Steve Finlay
WardsAuto
March 14, 2014

Dealership selling of finance and insurance products comes down to the “V” word: value.

So says F&I trainer Ron Reahard of Reahard and Associates. “Unfortunately, the process at some dealerships is designed to add value for the dealership, not the customer.”

F&I managers are most effective when they convey an impression of professional helpfulness. They stumble when customers sense a hard sell.

“Does the customer feel you are trying to help or sell?” Reahard says. “The process has to help them, or they’ll do everything to avoid it.”

The Easy Way To Grow Every Year...Manage Your Sales from the Bottom Up

by Joe Verde
Agent Entrepreneur
November 12, 2014

What’s wrong with this picture?

That’s easy to spot – this person’s sales are stuck at an average of 12 units each month from too many bad months.

They can definitely sell more. In fact, in their three best months with sales of of 15, 16 and 15 (totaling 46) they sold 35% more than in their four worst months with sales of of 8, 9, 8 and 9 (34).

The Problem With Growing

Is Retail Automotive Shifting Towards Online Purchases?

DrivingSales News
November 12, 2014

(Click Here to go to the original article, and view the 2 minute video)

Is it possible for a customer to get in and out of a dealership in under an hour? We discussed this matter previously as Sonic Automotive was undertaking this tall task. Sonic even reportedly targeted a 45-minute transaction; a number that has proven difficult to reach. Next up is AutoNation. In an interview with CNBC, AutoNation CEO Mike Jackson said, “They don’t want to drag themselves from store to store for selection discovery, price discovery and they want a real car and a real price, online.”

Don't Forget To Close The Sale!

by Joe Verde
for Agent Entrepreneur e-Magazine
September 15, 2014

Oops! You forgot to close again…

Sometimes salespeople assume the buyer is so ready to buy, that everything will just take care of itself, and they won’t have to close the sale. Sorry – that doesn’t work very often.

Even when most salespeople attempt to close and get some kind of objection and then think they handled the objection (issue), they still forget to ask another closing question.

Remember these three points about today’s new buyers…

In Just 21 Days, You Can Turn On Success!

by Joe Verde
for AE-emagazine
October 8, 2014

Replacing bad habits with sure-fire sales techniques

I want to share a technique I’ve learned that can change and improve anything in your life you want to change.

If you’re unhappy with your sales, your attitude, your skills, your work habits, your weight or anything else you can think of, you can change it in just three short weeks. Successful people in every walk of life have learned to use this technique to achieve positive changes in their personal lives and their careers.

If you think about it, don’t we do almost everything out of habit?

3 Phone Training Strategies That Apply to Every Department at Your Dealership

by Laura Cummins
for DrivingSales.com
October 20, 2014

What do your sales department and service department all have in common? The phone. Though each department is very different, talking with prospective or current buyers on the phone is a crucial part of how they do business. As the dealer, do you think your employees’ phone skills are up to par? If your answer is yes, the chances are you aren’t looking at the data. Dealerships are actually losing more than $400,000, just because of poor phone skills alone!

5 Ways to Hire Millennials for Your Auto Dealership

by Erin Borgerson
Driving Sales.Com
October 15, 2014

Millennials, Gen Y'ers, the Internet generation...whatever you may call them, they're here to stay. This 1980's and 1990's born group has dealt with a slew of judgments over the past years. Some say they're lazy or too trapped in technology, but little do they know, this is the group who will make their dealership succeed. But first, how can we get ahold of this talented, sought-after bunch? By being creative. 

Is Your Sales Manager Any Good?

by Darin George
Wards Auto

On my travels as a trainer and recruiter, I’ve met many amazing sales managers and some who should not be within a country mile of the sales staff.

Wait for It...F&I Pros Offer Tips on Doing It Right

by Steve Finlay
Wards Auto

A dealership finance and insurance guy beefed to fellow F&I folks about waiting more than two hours for another store to complete paperwork and deliver his newly leased vehicle.

The soft-boiled eggs hit the fan when he registered that complaint among compatriots. Many of them said he had a lot of nerve.

Some rapped him for buying from a competitor. (He responded the other dealership had the vehicle he really wanted.)

Mostly they thought his griping about waiting was way out of line. Of all people, he should know unforeseen factors – from paperwork problems to credit issues to a customer crush on a busy night – can hold things up, they said.

Length of Car Loans Rises, Helps Fuel Sales

from Agent Entrepreneur, August 25, 2014

New car and truck loans have ballooned to an average of 5 1/2 years from four to five years not long ago, allowing buyers to afford more expensive vehicles and fulfill their urge to drive the newest thing now, reported The Detroit News.

Auto industry analysts say that longer term auto loans — some for seven years or longer — have helped fuel robust growth in new car sales.  

Think Like a Customer

by Rick McCormick, Agent Entrepreneur Magazine

What do Starbucks, Apple, Fed-Ex and Dollar General all have in common? Each company had a crossroads moment when their business was in decline and the future was uncertain. Also each company had a turn-around that was based on an intentional effort to make changes that were based on what the customer thinks and wants.  

Advice for a new business manager...

We were all new to to the business office at one point in time. Some of us had great mentors to train and educate us, some of us learned by trial and error. Experience is a valuable tool. If you were going to give a new business manager one piece of advice...

In Market Shopping Behavior has Changed...Are You a Dinosaur?

by Grant Gooley
for DrivingSales.com

Advanced Technology is Affecting Shopping Behavior...

As technology advances so does the buying behavior of shoppers across all retail segments, especially automotive. We all know buying a car is the second largest purchase made in our lives, an important one. Customers are on the search for comfort, their favorite color and most of all a good deal. Technology has changed how the in-market shopper finds the information they require to make a smart purchase decision. GM’s and Sales Management today are mindful of the fact they need an engaging website with some Google advertising and a social media strategy. Wait! What about the most important part? SELLING the vehicle! That shopper that spent 11 hours on line before filling out a form on your website, did they come into the store for an appointment? If the dealership is not converting at 25% or higher, from incoming lead to over the curb and burning rubber, we should all be re-eveluating our strategy. Instead of blaming the “type” of lead and chalking up iLead’s as BAD leads, maybe we should look at the big picture? Let’s dig in to what might be a hefty misconception.

Why it's time to put F&I online

by Jim Henry
Automotive News, June 25, 2014

It’s common practice at many dealerships to keep F&I products under wraps until customers are in the last stages of a car purchase. But is it wise?

Executives from auto shopping sites AutoTrader.com and Edmunds.com say no.

It's Not an Event, It's a Process

by Michael Marchione
July 1, 2014
for ae-emagazine.com

To the uninformed spectator it may look like professional football players have it easy. Play a game every week for a few months and make big bucks. But professional NFL Players are on the practice field 24/7. And when they’re not on the field they’re watching game film. These pros are the best of the best or they would not be where they are. Do they really need to practice and watch game film (training) when they have been running these same plays week after week for years?

Yes, for one simple reason: They play to win and it takes practice, practice, practice (training) to make sure they do. That’s what makes them better today than they were yesterday or even 20 years ago!

Eight Ways to Use Digital Marketing to Sell More Cars

Margie Martin
Wed, 2014-02-12
INDUSTRY VOICES

Selling vehicles is more competitive than ever, so dealers need any advantage they can get. Yet, I’m amazed at how few dealerships leverage modern marketing technologies.

My dealership, Friendly Chevrolet in Fridley, MN, has been the No.1 Chevy dealer in our district for 16 years running. We leverage digital marketing. It has helped boost monthly sales by an average of 10 to 15 vehicles. That is more than 10% of our sales volume.

I’ve worked in automotive sales for 15 years, and managed Internet sales for 10. I’ve learned about what works and what doesn’t. If you are considering expanding your digital marketing efforts for 2014, here are eight tips from the front line.

5 Ways to Get More from F&I Departments

Jim Maxim
Wed, 2014-04-30
INDUSTRY VOICES

Few dealers truly are satisfied with their finance and insurance department’s performance.

Yes, many F&I managers post solid performance numbers. Still, many dealers share a nagging hunch that with a little more oomph, their F&I departments could do better.

Fact is, this hunch is true. Most F&I departments can boost their per-vehicle-retailed and aftermarket-product penetration. It happens every day where F&I staffers train as athletes do for the championship.

Dealers enjoying F&I performance increases have five factors in place:

Three Ways to Embrace Discomfort and Win Sale

Jeff Shore
Thurs, 2014-04-10
INDUSTRY VOICES

Excuse me? Embrace discomfort?

If you are like most people your first response to that is likely to be, “Why exactly would I want to do that?”

The fact is our brains are not wired to naturally welcome fearsome, uncomfortable or seemingly perilous situations. The lower center of our brain will suggest quite the opposite: Run away!

So, why embrace discomfort? In a word: opportunity. Huge opportunity. Sales-boosting opportunity. Life-changing opportunity.