Posts tagged asking good questions
The 31 inch yard stick
Feb 16th
Periodically, we receive an email or a phone call from an ISM wanting to know how to increase their closing ratio from 30% to 40%. I often have to bite my lip in order to prevent myself from laughing hysterically. Invariably, I start to ask how that dealership is measuring its closing ratio. However, as I am asking that question, I am always asking myself why isn’t there a standard equation for measuring closing ratio?
Let’s think about other forms of measurement, for a second. Although arbitrarily determined, units of measurement have been defined, 
agreed upon, and accepted for almost everything you can think of. Temperature, length, weight, sound pressure, luminescence, even spiciness, can all be measured. Why? Among many reasons, it’s a way of replicating a result. Imagine Shaq’s “pinch” of salt vs. your grandmother’s, and you’ll get the point. Without using standard units of measure, we can’t replicate the results that another has experienced.
If we can’t replicate the results of another’s success, how can we improve upon it? We’ve all been to conferences where one ISM tells another ISM that he’s closing at a 17.48% closing ratio, while another ISM is stating that they are closing at a 103% closing ratio, while another ISM walks up to them, and quizzically mutters that they are only closing 4%. Who’s right? They all are. Why? Because every ISM seems to have their own equation for calculating their closing ratio.
The simplest measure of closing ratio is sales divided by opportunities (leads) in a given time-frame. I refer to this as a Gross Closing Ratio (GCR). Many times, this simplest of closing ratios, yields a result that isn’t good for one’s self esteem (given the traditions of bigger is better bragging rights in the car business). Self esteem can be further battered by going to a conference, or from reading the different forums, where people can endlessly brag about their closing ratios without the substantiation of results and equations, or divulging their lead-source mix. So ISMs the world-around create complex equations to measure closing ratios that show impressive results so that they can feel like they can offer comparable results.
I have totally been guilty of this. When I first started in the business (before the magazines and forums), I came up with a formula to measure my monthly performance. I copied and pasted the data from the lead buckets in CarPoint (then AVV, and then BzTrack) onto a spreadsheet. I created an equation that netted out all of the leads that were not true opportunities that month (i.e., bogus contact information, people searching for credit approval, people who were 30+ days out, etc.). In my mind, I wanted measure myself against the guys on the lot, and I figured that they didn’t get the same “riffraff” I did. I would divide this number by sales, and miraculously, I closed as well as the most seasoned lot-guy we had. It also gave me a 11-13% bump compared to my GCR. Too bad I didn’t have an Internet forum to share my triumphs on.
However, as I moved on to corporate Internet process development, and then on to technology, I came to realize what the lack of standards really means. When I began to start reading the emerging automotive Internet sales forums, and especially after I started attending the conferences, it didn’t take long to realize that there were no hard-and-fast rules on how to calculate closing ratio. At the risk of causing a stir, I’d go as far as to say it borders on urban legend for some. Given the fact that I’ve analyzed data for well over 400 franchises, just counting the corporates, I’d say often times retail personnel and their management are presented the statistical outliers, as opposed to the norm. Since there is no universally recognized or sanctioned equation to measure automotive Internet sales closing ratio, everyone is right. This is tantamount to declaring myself the tallest person in the world, but not using feet or meters as a measurement, or offering any mathematical equivalent. Without agreeing on the math, we cannot objectively compare anyone’s results, let alone replicate them.
The automotive Internet sales closing ratio is just one measurement that could use standardization. I am hoping that at some point in my lifetime, or before the Yellowstone volcano erupts, we will have a sanctioning body to govern our automotive Internet sales standards. If you honestly want to help someone get better, be more transparent with your calculations so that they can better measure themselves against your success. If we all use the same math, and you’re still on top, then you can shout it from the rooftops. In the meantime, keep asking questions about how your peers are calculating closing ratio; what leads to include or exclude; what time-frames to consider. It’s OK to call BS. Let’s come up with an equation that everyone can agree upon. Here’s looking at you, shorties.
Put down your Molotov cocktail, and put on a smile.
Dec 14th
As the vilification train continues to carry-on full steam ahead (not going to mention the hated company du jur), I ask myself, why aren’t dealers looking at themselves in the mirror? No one holds a dealership at gunpoint to utilize their products. I know I rant about this a lot, but when are we, as an industry, going to take responsibility for our own actions? We research every facet of our business, yet don’t take the time to research the people we do business with. For an industry that practically invented selling, we get duped all of the time.
Instead of grabbing our torches and pitchforks every time an outside company wants to disrupt the car business, let’s instead think of all of the reasons companies want to replace automotive sales people (they regularly get outside funding to do this, for $#&@’s sake). Let’s reflect on why the general populace has such a skewed and negative prejudice towards the dealer community. Let’s stop thinking in terms of PVR and start thinking total lifetime value of a customer. Let’s lift ourselves up.
Whether we like it, or not, the world has changed. Pandora’s box is already open. We can’t go back. Let’s embrace the continuing change in buying habits (REMEMBER: Every minute, people gladly pay more not to shop at Walmart, eat at McDonalds, or drink Maxwell House). Let’s add value. Let’s earn our money. Let’s set a benchmark in reputation. Let’s take away all of the negative ammunition anyone can use against us (venture capital money, or not). Let’s stop being the victim.
The best days are ahead of us, friends. Are you going to be a driver or a passenger?
Branding for everyone else.
Nov 2nd
After a couple weeks of decompression from Vegas, I’ve had a few sleepless nights to think about what I learned (remembered?) from my
trip. It seemed that calls for branding were even louder than last year. As I listened to said calls, I looked around the room to gauge reactions. Some people nodded in approval, while others looked at each other with a quizzical look on their face, while others mindlessly tapped away on their iPhones. Over the years I’ve had many great discussions regarding branding strategy (When Business People Go Wild, I know). I went on a bit of a tirade on the subject last year, and it looks like it’s time for another one. It’s pretty clear that branding needs to be empirical. If you can’t touch it, feel it, smell it, taste it, then you can’t pass those senses along to potential clients.
Defining a brand is hard, which is probably why so few companies do it well (I’m going to go a little academic on you, so consider yourself warned). Webster’s has a few definitions for brand: a mark made by burning with a hot iron to attest manufacture or quality or to designate ownership; a printed mark made for similar purposes (trademark); a class of goods identified by name as the product of a single firm or manufacturer (make). Our oft quoted pal Seth Godin goes further, stating: “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.” In his newest book, “the End of Business as Usual,” Brian Solis came up with 9 Criteria for Establishing Brand Essence: Focus, Feeling, Individuality, Experiential, Consistency, Credibility, Longevity, Personal, and Portable. If you stayed awake long enough to read these different definitions you probably realize that it’s safer to take the 30,000 foot view.
Since we all can’t be Nike or Apple, let’s do an exercise. In Guy Kawasaki’s book “Enchantment,” he mentions his “Enchantment Hall of Fame” to get one’s creative juices flowing. He lists the following categories: car, Macintosh, airline, city, book, political leader, actress, engineer, TV host, female blogger, male blogger, singer, parenting, architecture, and clothes (I’ve included Guy’s list, as well as my own, below). I’m going to hijack Guy list for the purpose of example. Please proceed carefully: it’s not the fastest car, the hottest actress, the best band, or clothes you aspire to own. Just answer the questions (if you’re too cool for school, feel free to skip ahead):
| Category | Guy’s | Bill’s |
| Car | ’65 Mustang | Ferrari 288 GTO |
| Macintosh | IIci | iMac |
| Airline | Virgin America | Continental |
| City | Istanbul, Turkey | London, UK |
| Book | “If You Want to Write,” by Brenda Ueland | “Infinite Jest,” by David Foster Wallace |
| Political Leader | Nelson Mandela | Harry S Truman |
| Actress | Queen Latifah | Natalie Portman |
| Engineer | Steve Wozniak | Adrian Newey |
| TV Host | Mike Rowe | Jeremy Clarkson |
| Female Blogger | Jenny Lawson | Amber Naslund |
| Male Blogger | Robert Scoble | Christopher S Penn |
| Singer | Corrinne Bailey Rae | Layne Staley |
| Parenting | Adopting Children | Natural Biology |
| Architecture | Antoni Gaudi | Frank Lloyd Wright |
| Clothes | Aloha shirts by Anne Namba | Brooks Brothers |
I agree that some of these categories aren’t things that readily come to mind, however that’s why its an exercise. I’m also not going to argue with Guy Kawasaki because he has a bajillion followers in seven different galaxies, and more than 100 pages of reading after this passage. But let me ask you, can you can you give me at least five reasons why you chose your pick? Here are some easier ones for you:
| Easy Picks | Bill’s |
| Restaurant | III Forks Austin, TX |
| Hotel chain | Marriott (JW) |
| Athletic shoes | Puma |
| Detergent | Tide |
| Deodorant | Old Spice |
| Cereal | Kellogg’s |
| Soda Pop | Coca-Cola |
| Beer | Guinness |
| Sports team | The Detroit Red Wings |
Take all your picks, and start asking yourself these questions:
- How do your choices/products make you feel?
- What memories do you have associated with them?
- What are you consuming?
- Where are you consuming it?
- If you have the choice, why are you buying it there?
- Do you feel a twinge of guilt when you do not go with your picks?
- Do you get a feeling of disappointment when something changes?
- Do you feel the need to share with someone at the company when your expectations aren’t being meant?
- Who are you buying it from?
- Where was it made?
- Who made it?
- How was it made?
- Who started the company?
- Where was the company founded?
- Do you ever go with the cheaper option?
If you can’t possibly answer these questions on a regular basis, it’s time to start. Let’s face it: these are gut-questions. These are also the same questions your customers have about you, as well as the products and services you sell. As consumer-facing automotive sites continue to consolidate, and the reliance on social media becomes stronger, the amount of differing opinions will continue to shrink. You need to understand the fundamentals of branding before it’s too late.
Learning what it takes to exude brand from everything you do, takes a great deal of time, consistent effort (ask Tracy Meyers if it happened overnight), and a ton of energy. Hopefully, by going through this process (and practicing) you will not only have a better understanding of your own tastes, but will begin to understand all of the dimensions of a strong brand. Continue updating your hall of fame. Who knows, maybe next year you will be the one doing a brand presentation.
Who would you believe?
Apr 5th
Let’s say that you’ve had a persistent cough for two weeks, but haven’t had time to go to the doctor. You finally break down, and go to urgent care one night because you’re not getting any better. After w
aiting four hours, you finally get seen by a guy in his early twenties with acne still on his forehead. After going through some cursory checkups, he tells you that you have syphilis. He hands you a prescription slip with someone else’s name on it, and wishes you well. Given that you haven’t been to Bangkok lately, and that you’ve never cheated on your spouse in the thirteen years of your marriage, you decide that maybe you ought to get a second opinion.
If you’ve read some of our recent blog posts, you probably know that Joe Webb and I have gone off a bit on those who are new to consulting. Trust me when I say it’s not meant to personally attack anyone. Unlike the medical world, there is no certification, title, or otherwise, to indicate one’s level of expertise. In fact, there is no state licensing to make sure that you are sound to practice. There is no governing body who administers examinations, or confers expertise. Instead, we have resumes and word of mouth. That’s it folks.
Many of us in the dealer, consulting, and vendor world have spent a tremendous amount of time educating ourselves. Besides the obvious attendance at retail auto conferences, we sit in on webinars, read books, and some of us even take classes. While some were educated at the school of hard knocks, others learned (and survived) in active combat, and still others have excelled in postsecondary education. Because all we have to rely on is resumes and word of mouth, there is no way to distinguish those of us who have dedicated ourselves to mastering our craft, and those who haven’t. More specifically, there is no way to distinguish between those who are in it for a quick buck, and those who are in it because they care about the condition of retail auto.
Because there is no way to formally differentiate between the practicing experts and the self-proclaimed experts, the dealer loses. The dealer loses on beta-quality technology sold by a good salesperson. The dealer loses on vendor-driven training administered by people who have never sold a car before. Most of all dealers lose money on (one nefarious consultant after another) consultant who have nothing to offer other than their level of expertise. If the dealer loses, then everyone loses.
This is probably the same reason why so many vocations have adopted formal licensing. Think about all the professions that require passing an examination to practice. Everyone from physicians and attorneys to hairdressers and tattoo artists have to pass at least one administered exam. Why? Because someone who did not care about their practice (or reputation) swindled someone out of money, gave someone septicemia, burnt someone’s scalp, or gave some unsuspecting schmuck syphilis. Organizations were born to make sure you didn’t eat rancid meat, get electrocuted by your lamp, or use snake oil as a cure. Most commonly these organizations, laws, or entities evolve to make sure the consumer is protected.
As I commonly posit, why should we be any different? Why aren’t we working harder to create a governing body to allow those who want to become certified as experts take an examination to do so? I know individuals have tried to do so in the past, however this is bigger than one person. It’s time that we put our egos aside, and work together towards something for the greater good. I know there are many true professionals out there who would like to demonstrate their knowledge. I know many more who would seek the protection of an umbrella organization. We need to give them the opportunity to do so.
I’m not beginning to say that I have all the answers. What I can say is that if this organization is going to exist, it can’t be a club (the last thing we need is another Good ‘Ole Boy Network). It can’t be an offshoot of an existing organization, rooted in the traditional ways (old habits die hard). It can’t be formally sponsored (it’s already too hard to cut through the vendor noise). It can’t be easy to join (take a look at the requirements from the Project Management Institute or the CFA Institute). It can’t be governed by a few, because nobody has all of the answers.
The next time someone approaches you about how to improve your business, think of all the licensed and certified professionals you deal with on a regular basis. Think about the police officers you know, the teachers in your kids’ classrooms, the EMT that gave you CPR training, and the electrician who wired your garage. Think of all of the training they went through, and the continuing education they’ll have to go through. Then ask yourself: Don’t I deserve the same?
Are we doing ourselves a disservice?
Mar 15th
Like most of you, I “work” a lot. I spend countless hours a day, reading, writing, videoconferencing, teleconferencing, and on the phone. I also find myself constantly checking and updating the calendar, checking my phone for text messages, chatting on more than one chat client, and conversing on Twitter. It’s typical that I have a minimum of two browsers open, with at lease four tabs running on both (closer to 10 on Firefox). I also have a PC running a couple different CRMs that only run in a Windows environment (yeah I know, some vendors are too cheap and/or lazy to create products that operate in different environments, but I digress). Still I find some time to run a business. With all of this stuff to handle, the “work” is really managing it all.
Most of my clients have it worse. They also have the various channels of communication to manage. They have reports to run. They have people to manage. They have discussions with their managers. They have storewide meetings. And, best of all, they have customers that show up at random. The lucky ones have the budget to work with external resources to help manage and streamline operations, but the majority still find themselves trading their personal time for work time.
For those who keep trading their time, I got bad news for you: There are only twenty-four hours in a day. End of story. Your kids are going to grow up. Your spouse is going to grow older. While your clients are going to put that gold watch on your wrist, they’re not going to come to your funeral.
Time is the most valuable resource. Once it’s gone, you can never get it back. It’s time to fanatically manage your time. If someone wants to take your time, push back. Learn to prioritize your day. Learn to stick to accomplishing what’s most important, and move on. People understand that you will call them back. They’re busy, too. If emails required an immediate response, they would come in the form of a phone call or a knock at your office door. Manage your time wisely, and have the time to enjoy the results.
Brand building: Taking the mystery out of conference jargon
Dec 3rd
Like many of you, I have sat through multiple presentations and webinars regarding social media. While some may touch on it, and others may focus on it, the term “brand building” comes up quite frequently. While on the phone with a dealer recently, it occurred to me that a good portion of our peers may not quite understand brand building, and hence, have a hard time applying it in the real world. For social media, this is a classic case of putting the cart before the horse.
Simply put, a brand is the identity of a business, product, or service. What comes to mind when you think of Coca-Cola? How about Nike? Now maybe Apple? I’ll bet somewhere in your mental imagery, classic white script across a red background came up, along with a swoosh, and a glowing white apple with bite taken out of it. These companies have done an extraordinary job of marketing a consistent brand image, and have created a culture surrounding their businesses. If you need more examples, just walk into your showrooms. You will see brand imagery everywhere.
What comes to mind when you think of your own dealership? (Note: this works best when you think of the positives.) Is it a dedicated, veteran sales staff? Is it consistent OEM recognition? Is it community involvement? What makes your store different from the one down the road? Hopefully, multiple things come to mind. Take those thoughts and jot them down.
Now think about how you want your customers to perceive your dealership. When they think about your store, what images do you want them to conjure up? How are they perceiving your identity on your website’s homepage? If you are drawing a blank, then it’s time to start working on that. Ultimately, it’s up to your business to craft that identity.
I think we are all well aware that Coke, Nike, and Apple have millions of dollars to commit to advertising agencies, not to mention the top-notch marketing talent they have available to them in-house. They are global brands competing on a global scale. Should you aspire to have their type of brand awareness? Absolutely! Do you need their millions of dollars to reach your market of 30,000 people? Absolutely not!
You have the advantage over national advertisers. You understand your own market better than they do. You understand how your closest consumers talk, think, and dress. If you are using your CRM properly, you may even have notes on where people go to church, where their kids attend school, and how much their fifth-wheel weighs. This information is available to you for free!
Speaking of free, those commercials you normally fast forward through are full of free inspiration. Try actually watching some commercials. What messages are you taking away? What tag lines are you hearing? Tune-in the next time you see commercials from mega-brands like IBM, Microsoft, GE, Red Bull, Starbucks, and UPS. Pay extra attention to what your OEMs are advertising and the images they are reinforcing. Take note of the fact they are not advertising “the largest inventory,” “rock-bottom prices,” or “(region’s) number one (whatever)…”
When you are ready to start coming up with brand ideas, talk to others. Bounce ideas off your spouse. Ask your friends. The wider the variety of people, the better. Then, sit down with your coworkers over some pizza and start brainstorming. Try to come up with one sentence that best describes your dealership (or department).
When you feel good about what your network has to say, have the same conversations with your most loyal customers. In fact, take a walk down to the service department and have that conversation with customers while they are having their maintenance performed. Find out if your brand identity is in line with a perceived value (be prepared for the worst). Compare notes. If the messages are the same, fire up the marketing machine. If they are not, you need to dedicate yourself and your teammates to bringing the ideas closer together. This is when you employ brand-building efforts (like social media, video marketing, and dare I say, a TV ad) to distill your message down for consumption by the masses.
Sounds like hard work, right? It can be, but it’s well worth it. Your customers will know what separates you from the competition. You will attract customers who are looking for an alternative to their local dealer. You will create a value proposition beyond price. Best of all, you and your teammates always have a guiding principle to fall back on in times of question. Trust me, you’ll forget about the hard work when you immediately start reaping the benefits. It’s “time to change everything,” “have a Coke and a smile,” and “just do it.”
Post Script
There have been several great books that have been published about brand building or indirectly touch on the subject of branding. One that immediately comes to mind is the Starbucks Experience: 5 Principles for turning Ordinary into Extraordinary, by Joseph Michelli. While it wasn’t written specifically about branding, it caused me to evaluate my business practices and offered some great perspective. It’s a short and compelling study so you should have no trouble finding the time read it. (I read it in one plane trip). If you have some books that have been inspirational to you, please share. Now that the gift-giving holidays have begun, we can add some books to our wish lists.
Dodgem
Nov 1st
Originally posted 10/6/2010 on DrivingSales.com
For most of us, the fair season has come and gone. As I’m writing this, my son is at the county fair in the rural Michigan town where my wife and I grew up. Like most fairs in the Midwest, it’s all about 4H and Future Farmers of America; kids showing off their pigs, goats, and cows (consequently, my niece’s rabbit is Grand Champion). Like most other fairs in the Midwest, local businesses set up shop, politicians are there to shake hands, and all of the food is available on a stick. The car dealers all come armed with Mustangs, Duramaxes, Chargers, and the omnipresent balloons.
Then there are the carnival rides. Personally, I don’t ride anything that can be assembled overnight. The kids, however, go crazy over them. The one ride that always intrigues me most is bumper cars, or Dodgem, as it’s known in fair parlance. There are always three or four maniacal, fuzzy lipped, teens chasing down a dozen other people. One would think the whole point would be to live out one’s favorite traffic jam fantasy, and just plow through everything that gets in the way. That’s where the intrigue comes in: everyone drives away from each other.
As I mentioned in a previous post, I perform a lot of mystery shopping. One of the biggest fumbles I consistently see is that dealer personnel don’t ask questions in their email responses. Over these last few weeks, I’ve come to realize that most dealer personnel don’t seem to be good at answering questions either. A lot like Dodgem, a customer tries to bump their email into a dealership, only to have his or her efforts dodged.
First, let’s put ourselves in the customer’s comfy shoes. As John and Jane Customer, we work hard for our money and we don’t want to pay anything more than we should. We go to the Gap when things go on sale, and we go out of our way to Costco to get a 55 gallon drum of shampoo to save a few pennies per ounce. When it comes to cars, we are blissfully unaware of dealer allocations, regional option groups, and targeted residuals. Our grandpa was somehow able to order a L72 big block Malibu with dog-dish wheels and no air conditioning. When we drive by the dealership, we see an endless sea of vehicles with infinite possibilities.
Now let’s get back to reality. As dealer personnel, we know that manufactures build what they want, when they want. Our dealers still shotgun it and order what they think people want. In all actuality, most customers have no idea what they really want. This is how many good salespeople make great careers by becoming a valuable resource to their customers, then their customers’ families and friends. They know all of the subtle intricacies and help their loyal customers select the right car.
Is there any reason why the digital-age should change this? Absolutely not! If a customer was sitting in front of you and asked if a Grand Cherokee had full-time four wheel drive, you’d explain the difference between Quadra-Trac I, Quadra-Trac II, and Quadra-Drive II. But somehow in the email world, the response is “…we have plenty of Grand Cherokees to choose from. When can you come to the dealership to drive one?” Why not just answer the question: “The new 2011 Grand Cherokee is equipped with three highly sophisticated AWD systems. Are you looking for something to take you through the snow or do you plan on going off-roading? I can walk you through which system might be right for you” (that response took 57 seconds to write). Which email do you think is going to solicit a response quicker?
Before you sell a car, you need to sell yourself, sell your dealership, and sell an appointment. If Toyota is not building Spruce Mica Tundras, let the customer know it. If Honda only ships two-wheel drive Pilots to your region, say so. If Fiestas with manual transmissions are in short supply, then give the customer a heads up. Facing these questions head-on allows you to build rapport, add value, and start a dialogue. It makes you that valuable resource, thus making it much easier to sell yourself, sell your dealership, and sell an appointment.
The next time a customer emails you a question, think about bumper cars. Imagine your competition driving away madly from potential customers, while you square up for a head-on collision. Think about what you know and what the customer doesn’t. Make yourself indispensable in the shopping process. Now take your right foot, slam down the pedal, and go in for the hit!
Why Ask Why?
Nov 1st
Originally posted 9/7/2010 on DrivingSales.com
I bought a book a short time ago, and at the top it said: “Ignore this book at your own peril.” The quote is from the best selling author, entrepreneur, and Marvel Superhero Candidate, Seth Godin. Having read most of Godin’s books, I immediately bought the book he was endorsing.
While I won’t bore you with the details of the book (it’s an awesome read), it’s a prime example of buyer motivation. Although I had no intention of buying a book that day, I physically walked into a book store, browsed through the business books (yes I’m a nerd), saw the quote by Godin, grabbed the book, and promptly paid for it. The bookstore didn’t sell the book. The authors didn’t sell the book. The publisher didn’t sell the book. Seth Godin sold the book.
How often are you asking your customers how they heard about your store? How they decided what products to consider?
What prompted them to start shopping online? How they heard to ask for you? In fact, how often are you asking questions?
I’ve been actively mystery shopping dealers for the better part of the last five years, and it’s not very often that I’m asked personal questions. I’ve seen plenty of volunteered information about the dealership’s history, the General Manager’s name, and the MSRP of the vehicle requested. It’s not very often that I’m asked if it’s better to communicate via email or phone. I’m rarely asked if I’m considering comparable vehicles. There have been solar eclipses since I was asked how I chose their store.
Why is this question so critical? It’s simple: it gives you instant feedback about how well your customer acquisition/retention methods are functioning. The answers could range from “I was searching the Internet for good deals on Chevys” (that SEO is paying off), to “One of my friends mentioned your name on Twitter “(high-five to the social media gal; get the bird-dog check in the mail), to “I saw your ad in the newspaper” (people DO still read those), to “I’ve bought my last four cars from you! You don’t remember?” (it’s officially time for a new CRM). Asking this one simple question gives you the pulse on what methods of outreach are working in real-time. As an added bonus, it gives you insight into how your customers make a decision.
If a customer’s cruising Google for good deals, it’s more likely that they are value conscious and not too dealer-loyal. If a customer reacts to a Facebook post from a friend, it’s likely that they are influenced by third parties and that they are looking for objectivity/credibility. If a customer is responding to a newspaper advertisement, they’re more likely to be reactionary and more of a “traditional” shopper. Is it not easier to respond with valuable information when you know which hat to put on? Is it not easier to make investments if you know it’s already paying off?
Although I’m pretty sure I’d turn elsewhere for car purchasing advice, Seth made it easy for me to spend $22. Your customers are following various sources of advice everyday to get that same guidance. These sources of influence are selling your product, selling your process, and selling your dealership. The good news is that it’s much easier to find out who or what these sources of influence are than you think. All you have to do is ask!
Hey, by the way…what made you click on this post?
