Shortening Trade Cycles - Part 3
Last month we talked about 3 ways a sales consultant could influence the average trade cycle of their client base and give themselves a pay raise. If you missed that one you can read it in our blog archive here.
Let's explore how the same logic can be applied to resolving a delay objection. One of the most common objections comes when we present the figures and the customer is unhappy with the current market value of their old car. We should always begin to resolve this objection by following the steps to justification of trade value. If you need a refresher try here.
Even if we justify the trade value well some customers will still not be happy with the difference or changeover cost. Their next logical thought may be to delay the purchase. They may say something like: "I think I should just wait another year and keep driving my current vehicle." Here is where you can do them a favour by helping them to understand the dynamics of vehicle values and the costly effects of a longer trade cycle.
Follow these steps:
Cushion the objection with either empathy or enthusiasm
"I understand how you feel. Many of my customers are disappointed to find that the actual value of their car is less than what they hoped."
Share information and/or question to understand
"I get how you might want to delay your purchase but can I share with you how delaying could end up costing you more?"
Resolve the objection. – Present your suggestion
Draw the graphs of vehicle values and suggest:
"Each day that goes by your current vehicle is worth less and less. The age and odometer increases and it becomes less desirable to a used car shopper."
"At the same time, an older vehicle can have unforeseen repairs, more maintenance, or damage. All these things can cost you money."
"The price on the new vehicle (that you really do want) doesn't go down but your trade value continues to - that means that your difference keeps increasing."
Ask for the business. – Use assumptive language
"Right now is your lowest cost time to change. Why don't we get your new vehicle ready for you?"
Not your words? No problem. Edit to your own personality but keep the structure. Help more of your customers buy today to save money!!
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