When done correctly, maintaining a social presence will get you more appointments, help you sell more services and vehicles, and boost your brand’s revenues. What other social tips do you recommend for marketers in the automotive industry?
“There are examples where the big buying organization has put their contractors on their knees, and they go bankrupt and the big buyer is in trouble. (See my story on Zurich Re and supply chains) We are decoupling this. If you as a big buyer approve the invoice, then we are able to finance it regardless of your payment capabilities, and that is helping the smaller organizations or suppliers.”
Let them get out of the car by acknowledging the customer with a hello. When they have all exited the vehicle, use a nice greeting such as “Good Afternoon! Welcome to Shady Motors my name is Tom and you are?”
Often, they cannot even sell the car used due to the way the previous owner has kept it, and if the expenses are too high to recondition the car, they will instead send it to a wholesale auction. Usually once a month, auction houses have high end auctions where bidders can buy nice cars at exorbitantly low prices, albeit, their cost of repair or to bring back up to snuff can dig into the time needed to go from auction house to sales floor. This means that a used exotic car dealer must take responsibility and repair/recondition the car, and then try to make a profit off of it’s market value. This can end up being a hit/miss for the dealer.
In general, yes–at least they have a better opportunity than mainstream market salesmen to develop a repeat client base that is a very good thing to have, especially for exotic or other high-end vehicle car salesman.
Direct mail is not only our passion, but it is the driving force and the lifeblood of what we do. We know the best pieces that will increase the traffic to your events therefore driving up your sales up to 30% each month!
If you buy a car that is financed through the dealership, the dealer CAN cancel the contract, but only if it notifies you within 10 days of the date on the purchase contract. This type of financing is sometimes called a “spot delivery.” It is based on the language of the purchase contract. Look at your purchase contract. That’s the long yellow document that says “RETAIL INSTALLMENT SALES CONTRACT” at the top. Turn to the back of the purchase contract, and find the box that says “Seller’s Right to Cancel.” It is at the bottom of the second column.
Look at your marketing budget and the channels you’re using for advertising. For example, did you put a significant portion of your budget toward television commercials during the fall and winter? In spring and summer, your customers are less likely to be sitting inside watching TV, and more likely to be out and about. Consider taking some of your TV dollars and moving them into Facebook advertising or PPC ads.
Indeed, what is particularly notable about the current wave of innovation in automobiles is not so much the speed with which it has emerged (though that is remarkable) as the breadth of the innovation — how much it is altering the basic contours and features of the traditional automobile and amplifying the difficulty and cost of manufacturing cars. Ubiquitous electronics, a variety of digital services, and novel powertrains and connectivity systems are hastening the need for expensive new parts, components, and functions. For OEMs, the price tag is high — as much as 20 percent greater than the cost of the previous generation of automobiles.
Once you have the market defined, create a list. This list should be large enough to give you the opportunity to really delve in and repeat the process a couple of times. If your target market is too small your odds of success decrease. You may have to merge two similar target markets in order to have the numbers working in your favor.
We like to think about it as a sales funnel. Your sales rep has a number of calls to make, a number of emails to send, a number of appointments to book and ultimately a number of sales that are generated from those activities.
No.3: While one person should lead the effort, train multiple people on how to use your digital marketing tools. Salespeople should look at this as a career builder. They should be clamoring to learn these skills.
Republic is clearly a leader in first-stage channel restructuring, forcing cost reduction through aggressive rationalization and consolidation. Automotive industry observers for the most part view Republic as a leviathan, swallowing up auto dealers at will. For the first three quarters of 1998, Republic reported revenue of $12.7 billion, up 72 percent from $7.4 billion during the first three quarters of 1997. Its income from continuing operations for the same period totaled $384.2 million, up 68 percent from 1997. Automotive operations, which include National Car Rental, Alamo Rent-A-Car and CarTemps USA, account for about 92 percent of revenue and 78 percent of operating income; solid waste services contribute the rest.
• In case of a prospect, collect information which might help you customize your future interactions with them. Ask them questions like “why they opt to go for this brand, this model, etc” as it could help you understand them better to deliver the most appropriate experience for them. This report also says that 1 in 4 customers is not satisfied with their dealer experience in the car buying process! This is quite a grave number, if you think about it!
The decline in profits on new cars has forced dealers to make up the shortfall by looking at what many have historically considered “filler” businesses: parts and service, used cars, financing and insurance, and The problem is that a conventional dealership is not necessarily positioned well to conduct all of these businesses because of their different economics, bases of competition and consumer purchasing patterns. Some dealers, for example, have set up dedicated bays to offer no-appointment quick-lube services to compete with independent outfits such as the Pennzoil Company’s Jiffy Lube and the Midas International Corporation’s muffier shops. However, the optimal retail density and overhead structure for the oil-change business are very different from those for new cars. (See Exhibit I.) Brick-and-mortar and real estate constraints will make it difficult for traditional dealers to develop truly competitive offerings in each individual dealer business even if they manage to overcome longstanding consumer mistrust.
When it comes down to becoming a car salesman the actual requirements are much less than you can imagine. In most cases all that’s needed is a High School Diploma and a car sales interview to sell cars for a living. The needed car sales training that is required is usually done by the dealership where you were hired. Most of your car sales training will be done on the job, but the formal training will provide you with the theory. It will take some time to learn the methods and techniques so it may take 4 or 5 months before you start earning at a pace equal to 100K a year. Some dealerships like to hire experienced sales people, but that is rare. For most car dealers the most desired sales person is one that does not have car sales experience.
Change and innovation are the lifeblood of most retail businesses, but the automobile retail industry has been remarkably resistant to transformation. As a result, the industry suffers from an outdated and expensive channel, and most consumers feel short-changed and ill-treated in the bargain.
What better place to bring a current vehicle than a dealership? By offering a free car wash, potential customers will literally bring their vehicle into your lot. Offering a great trade-in program at this time can boost sales greatly. Another option is to offer a paid car wash where all of the proceeds go to charity. This is a great way to help the local community and bring in sales at the same time.
Just wanted to say thanks for doing this AMA – learned heaps today. I can see as the thread gets older so do the questions – most have been answered and a quick CTRL + F would yield the answer. If you ever get the urge to do it again I’ll be right there, drinking in the tips and suggestions. You’ve definitely changed my view of things, from the buyer’s side and I’m sorry that you’re not in the biz anymore. On the other hand, it looks like you had the good sense to get out of it before it killed your soul. Good move. Cheers, EquinsuOcha!
So what do you do? You’ve been in the car business long enough to know that buyers are online-based. Getting them into the dealership starts with smart marketing, focused targeting, and quality incentives. You’re in a time crunch, so it’s a good idea to follow a step-by-step process and focus on the areas that matter.
Not all states require automobile salesmen to be licensed, so you should check the requirements in the state they wish to work in. For example, automobile salespeople in California are required to pay a fee and submit an application to the Department of Motor Vehicles. Salespeople in Colorado must pass an exam and remit a bond, in addition to completing an application and paying a fee.
This isn’t to say we should seek to eliminate emotions altogether. “Emotions are critical to how we negotiate,” says Lee Miller, author of UP: Influence, Power and the U Perspective–The Art of Getting What You Want. “Traditional negotiating theory said that the goal of being a good negotiator is to take emotion out of the negotiation and find the best objective solution. The only problem is it ignores human behavior. You can’t take emotions out of negotiations. And there’s no one objective solution–it depends on how each party sees things, which depends in part on what they’re emotionally attached to what they’re motivated by.”
Strategy 3. Build relationships with your customers. For each month that goes by, customers lose 10% of their buying power. Create a customer database and contact them on a regular basis. Mail them a postcard, birthday card, sales flyer, newsletter etc. to keep your name, phone number, and service on their mind.