Auto Dealership Sales Tips: Don't Let Customers Slip Away
What percentage of sales does your sales staff close on a consistent basis? Typically, a dealership will usually close less than 25 percent of sales that walk through the doors of your auto dealership. Over 80 percent of the potential buyers who walk through your doors will walk away without making a purchase.
Not only will they walk out of the doors without making a purchase, they will walk through the doors of someone else’s dealership. Your dealership has to do everything it can to capture and retain every sales opportunity that walks through those doors of your dealership.
How Can You Increase Sales?
Increasing your sales in retail is always possible where businesses require their sales staff to follow up with customers. Not only should follow-ups be encouraged, they should also be closely monitored. You probably already have the right technology in your dealership that will allow you to do this. What is it? A customer relationship management system, also known as CRM.
Unfortunately, many businesses do not properly utilize their customer relationship management system. You will not have any value in your resources if you do not use them, right? You have to use your CRM system to help you consistently achieve all the retail goals you have set. You especially need to take advantage of the CRM system so you can turn the unsold shoppers into buyers.
Don’t Let The Clock Wind Down
As mentioned earlier, a large percentage of shoppers will walk on your sales floor without leaving with a vehicle. When the shoppers leave your sales floor, this turns the clock on. If you are not able to ask the customers why they are leaving, you will not get an opportunity to get their business in the future. If the customer leaves your dealership without making a purchase, there is a good chance they will have purchased another vehicle in the next day or so.
Many auto dealers only focus their research on how to make customers happy and how to satisfy them. Unfortunately, not all dealers focus their research on why shoppers walk away without making a purchase or even consider making a purchase.
When you do take the time to gather critical information from the customers who you have trouble selling to, you will eventually find that:
- About 30 percent of the customers will return to your dealership at a later date to give you an opportunity to sell to them again
- About 70 percent of the customers who return to your dealership at a later date will actually make a purpose
When you give yourself multiple opportunities to make a sale, you will give yourself plenty of opportunities to increase your monthly sales.
When you do not make a sale to a customer, the best person to go to is that person. The only way you will find out why you did not make the sale is to speak with the unsold customer. That customer has all the information you are looking for. When you do not obtain the feedback from the unsold customer, you will not be able to find out what is wrong with your sales approach, your strategies, or your showroom.
When you implement the right techniques, you will be able to stop many of those shoppers from walking out of your dealership instead of driving away from your dealership. There are deals that you are likely missing on a daily basis, and you have not been able to put your finger on it.
One of the best ways to sell more cars is to do your research on the customers who do not buy from you. For more information on how you can turn those unsold customers into happy customers with a new vehicle, please do not hesitate to contact us today.
Author: Pete Maclnnis
Author Bio: Pete brings over 37 years of experience in automotive finance and technology as Founder and CEO of eLEND Solutions™. Founded in 2003 as DealerCentric, eLEND Solutions™ is an automotive FinTech company specializing in online and in-store digital credit, identity and finance solutions designed to create a more efficient and profitable vehicle purchase process for the retail automotive industry.