What is 1% worth?
- Sales Tips for the Automotive Industry » Work habits / personal development
- Sales Tips for the Automotive Industry » Psychology of Selling
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We have often heard jokes about how 99% just isn't good enough. You know, like 12 newborn babies per day will be dropped at birth, or 2 planes will crash every day at Chicago O'Hare Airport, 22,000 cheques per hour will be deducted from the wrong bank accounts, and the 99% list goes on…
What does 1% mean in your business? What is your commission if the car is 99% sold? Do we get anything for "almost" selling the car? That's right our commission for a 99% job is zero! The professional sales process contains many small steps where less than 100% execution impacts our success and personal income.
Didn't get that last sale? Ask yourself if you did a 100% job on the following items:
Did I check my attitude before I introduced myself – did I expect to win or was I thinking: "here's another tire-kicker"?
Did I warmly welcome the client to the dealership, smile, shake hands, and introduce myself? Did I make a personal connection with the client?
Did I establish leadership in the process by asking good questions and giving them reasons to follow my lead?
Did I conduct my investigation or interview at my desk or did the customer lead me on a lot walk?
Did I get a complete understanding of the client in the areas of Family, Occupation, Recreation, and Money?
Do I know exactly what has changed in their life that is motivating a change in vehicle?
Do I know what their next vehicle absolutely must do well or better than their last one?
Did I match a vehicle selection to their specific needs? Did I focus my presentation on those specific features on the vehicle that satisfy their specific needs and lifestyle? Or did I throw everything against the wall and hope something sticks?
Do all of my clients experience the vehicle through a preplanned demo where I drive first?
Did I build and test mental ownership?
Do I answer the "why buy here?" question by telling the dealership story and giving all of my clients a parts & service walk?
Did I verify selection and obtain a now commitment before we discussed figures?
Did I ask for the business?
Did I systematically justify trade value?
Did I work with the client to overcome objections or did I spend my time working my manager?
Nobody's perfect. However, the further away from 100% adherence to these sales fundamentals you get, the more closing ratio will leak away from you throughout the sales process.
What is 1% worth to you? If you see 2 people a day and work 21 days a month you have 42 opportunities a month or 504 per year. 1% is 5 deals. Multiply by your average commission and you will see how much each 1% you gain (or lose) is worth. One more deal in 20 opportunities is 5% or for most sales people 25+ more deals per year. Is that achievable? How you do with 100% compliance to the fundamentals will answer that question.
Success in professional sports requires a set game plan, over-learning the fundamentals, and constant practice. Success in professional sales is the same. 99% doesn't cut it in either game!
"Learning new things won't help the person who isn't using
what he already knows."
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