Autobase CRM gives you instant visibility when your dealership sales consultant marks a customer as a "lost sale". We know we aren't going to win them all, but all is not truly "lost."
First, immediately second voice the prospect. Once a lost sales is flagged in your auto dealer CRM, someone other than the sales consultant should call and do some fact finding. This deal is still warm and could be revived. Find out if they actually took delivery from someone else's new car inventory after all. If so congratulate them. See if they have time to answer one simple question; "What was the one reason you did not purchase a vehicle from us?". As you make these calls you may find a pattern that if corrected could help you sell more vehicles. Common answers are: "I did not receive enough for my trade" or "You did not have the vehicle in stock."
Surprisingly, you may find out your sales consultant did not follow up or did a poor job of qualifying. I had one sales person that did not present lease options and insisted the customer only needed purchase numbers. That same customer leased a vehicle from a competitor. The sales person was ashamed to tell me. I could now work to skill-elevate this sales person so we could learn from our mistakes.
We'll consider another way that "lost sales" are truly opportunities tomorrow. Stay tuned!
by Shawn Belles
Third party lead providers are great tools to help generate traffic in your showroom. But are these leads enough for your auto dealership? Customer retention is something that the average auto dealer may easily overlook. Some stores bring on a third party to assist with retention depriving them of that personal touch. Some may even cancel the service in a few months leaving the customers without contact.
For every four leads that hit your Internet Lead Management tool (ILM) there is at least one customer whose lease will be terminating in 3 months, had an exceptional experience with the salesperson, and services their car the dealership (and as a former Internet Manager, I will attest that ‘internet ups’ not always the easiest customers to reel in the door).
My question then is, "What is your game plan for customer retention?" Is it getting your Finance manager to pull a list of customers whose lease is up that month and calling them? Who actually keeps track of these calls? I traded my last car 2 years into a 3 year lease. Simply because of an amazing 0% promotion that actually lowered my payment. Had my old dealer contacted me they would have had a pretty good shot at getting me in the door. Customer retention should not focus on just leases. Customers whose payment method was cash, finance and loyal service customers are just as important.
One of the best features I absolutely love about the auto dealer CRM by Autobase is the Renewal Log. Lease, cash and finance customers are populated base on your process. I usually recommend 6 months prior to a lease end, 3 years after a cash deal, and 12 months before the financing term ends for items to appear on the Renewal Log.
While every customer in your database may not be a repeat buyer, using Autobase CRM can help tremendously in retaining them. Never let yourself be out of sight ... and out of mind.
by Laurie Simons
What if you were given a list of hot leads every month, leads for the sales people in your auto dealership to contact? You would jump on the opportunity for such a list of prospective buyers, right? Unfortunately, without a true automotive CRM system, thousands of automotive sales people let these customers buy somewhere else, month after month after month.
But with a dealership software like Autobase at work, you are able to receive early notification of customers nearing the end of the finance or lease term, as well as buyers who paid cash in the past and may be in the market again. Furthermore, selling these customers can be easier and more profitable. Additionally, you don’t have to do the preliminary "get to know the customer" work that takes so much time (... and we all know that time equals $$$ in the automotive industry).
Starting this month, DO NOT let these customers slip through the cracks and buy from your competitor. Pick up the phone, write and email, or send them a letter and get them back in YOUR store.
Posting submitted by Sheena Lee
When it comes to desking deals, many auto dealerships are finding that the 4-Square process, introduced in the 60’s, is no longer working. In the same way that menu selling has had a dramatic impact on F&I results, auto dealers are searching for an effective sales presentation with multiple alternatives, increasing front end sales and profits.
Simply put: a strong, comprehensive Automotive CRM system should include a fully-integrated desking solution. It should enable dealers to instantly create a sales presentation providing multiple terms and down payments with finance and lease options. It should focus on selling, not just on providing numbers. It should produce customized alternate presentations in just seconds, and work for both new and used vehicles as well as for any franchise.
Furthermore, the numbers need to make sense in various presentations. These should include:
- Multiple finance / lease scenarios
- Target payment or target down scenarios
- Side-by-side finance vs. lease, finance vs. finance, or lease vs. lease presentations
- Cash vs. 1-Pay lease presentation
- VIP pricing presentation for fleet / Internet customers
- PDF and email versions of presentations
Autobase CRM offers the Autobase Power Worksheet, which implements a choice close -- one of the most effective ways to help the customer make a decision because they feel like they are in control of the sale. This professional sales process increases profits, provides better close rates, improves customer satisfaction, speeds up the selling cycle, and does so backed with proven results from dealerships nationwide.
Contact us today for more information on how to WIN BIG with desking!
Everyone's looking for best practices when it comes to Auto CRM in the dealership. Here's a great tip for taking that first step with your renewal opportunities.
Powered by Compendium Blogware