Buying a Car part 2
In the last segment, we covered Identification of Goals and Needs along with Being an Educated Consumer. Today, we’ll dive into Communicating with Transparency and Establishing Ground Rules.
- Communicate with Transparency:
- When you’ve narrowed it down to a few potential prospects, it’s time to test-drive them, which means you must enter the dragon’s lair and this is when transparent communication is key.
- Instead of giving the typical “just looking” auto-response to the sales rep as they walk up to you, come all guns blazing. You’ve done your research, now it’s time to show it off. Let them know which cars you are looking at, the pros and cons of each, the sticker prices of their cars as well as their competitors, and then ask them for their opinion. This shows them you are an educated consumer not to be sold but assisted…this immediately puts you in the driver seat (pun intended).
- During your first interaction with the sales rep, let them know that today you are comparing vehicles both on their lot as well as their main competitor’s (make sure you name the competitor and if you’ve been there already, subtly drop in the name of the sales rep on their let you talked with…adds credibility).
- Transparency leads to trust. Trust leads to sales. In today’s economy, people just don’t do business with people they don’t trust. Transparency means a lot of different things to a lot of different people, so you have to find your level of comfort when it comes to just how open you want to be.
- When our potential clients come to our office for a go!-Tour, the get to experience our business and culture. From our Wins Board to our Mission/Vision/Values to how much we invoiced last week and how much cash we have in our bank account…it’s all out there for them to see.
- This may or may not work for you, but you’ve got to know your ideal client. We work with entrepreneurs who understand and appreciate the business and financial sides of things and how difficult it is to operate a small business, so it works for us.
- What could you share with your potential clients that would instill additional trust in you and your business that is currently under wraps? Try sharing it with your next prospect and see how they react…you’ll never know ‘til you try.
- Establish Ground Rules:
- When going in for the test-drive, make sure you clearly establish your ground rules. Let them know that you are in that day to compare the vehicles and that you will be circling back on [Saturday] morning to talk numbers with both dealerships if you find something you like. (If you’ve got a significant other, this would be the time to fly solo to make it even easier to say you’ll be coming back later with them to make a choice.)
- When you come back on Saturday, do it when you’ve got something else scheduled in the day, and make sure to let them know that you will have to leave by 1:00 for [whatever thing you have going on], then you will be going to their competitor, at which point you will be deciding which you’ll be going with.
- When people ask us “Why should we do business with you over your competitors?” we always respond with “Well, we don’t know if you should or not yet. We need to find out if we are a good fit for each other or not…and if we aren’t, we’d be more than happy to help you find someone who is.” Then we go on to explain exactly how our sales process works.
- I once heard the quote that said something to the effect of “in the absence of a formalized sales process, you will default to the buyer’s process” and that is not a fun game to play. Do you want your sales process to be dictated by the whims and fancies of your buyers? Didn’t think so. If you haven’t created a structured sales process, do so know. Not sure how to create one, you can watch this Whiteboard Wisdom on “How to Create Systems in Your Business” to get you started.
- We will not deviate from our sales process, and if the prospect doesn’t want to go through our process, well, we know they won’t be a good client for us anyway, so we end the discussion. Holding firm to these ground rules, allows us to get the information we need to be successful and build a proposal based on what our clients needs and not necessarily just what they think they may want.
What do you think? Have any of these tips helped you close a deal or bargain effectively? Let us know in the comments, and subscribe to our feed to get the rest of this series in addition to other daily insights from our team!