Know Your Inventory
By: Jeffrey F. Knott
The first thing you need to know about selling cars is, “Know your Inventory”. Yes, I know it sounds so simple that it almost seems ridiculous that I would even take the time to write an article on such a subject. However I can't count the number of times I have witnessed a salesperson that greets a customer and then proceeds directly to the sales desk to ask if there is a particular car or truck in stock. And no I am not referring to questions requiring product knowledge. I am simply referring to the salespeople that don't even know what vehicles they have on their own lot.
Consider for a moment if the tables were turned and you walked in to a place of business to inquire about one of their goods or services and the person you asked immediately ran over to their supervisor or one of their coworkers to find the answer to such a simple question. Would you feel as though you were dealing with a knowledgeable professional? No, you would probably feel as though you were dealing with someone that is either inexperienced or incompetent. As an automotive salesperson the last thing you want is to have your customer feel that they are dealing with someone that exhibits either one of these traits. After all this is a major purchase for your customer and if even know what you have available to sell do you really think that they will you don't believe that you are competent enough to navigate the more difficult aspects of the sales process? Remember when your potential client arrived at your dealership they were probably worried about more pressing issues. Issues involving their trade, their payoff, their payment, the amount of down payment they will need and possibly even if they will qualify for financing at all. And when you don't even know what you can sell them you start the relationship by demonstrating your lack of preparedness to serve them professionally.
The good news it that this is a problem that is easily solved and just a little more effort on your part will help to improve your ability to sell more cars every month. Start each of your workdays by setting out on a treasure hunt. That's right most of the dealerships refer to it as an inventory walk but I like to think of it as a treasure hunt. Why? Because when a true professional walks their inventory they do not limit themselves to looking at only the “front line, retail ready vehicles” they are looking for a diamond in the rough. A diamond in the rough is the car that came off the car hauler from the factory or the auction in the middle of the night. It is the car that the other salespeople don't know about yet. It may be a trade-in that is sitting on the back line until it makes its way into the service department for a safety inspection and is not put on the front line until it has been thoroughly detailed. It may be the car that is in the service department, up on a lift receiving its pre delivery inspection (pdi), getting the oil changed or having the brake pads replaced. Typically the only people that know about these cars are the people that ordered the car from the factory, bought them at the auction or traded it in. Regardless it is your business to make these cars your business. Your livelihood depends on it.
Once you find these diamonds in the rough investigate them thoroughly. Find out who owned it, why they traded it, get the story behind it. Insure that you have more to tell about the car then the obvious fact that it needs to be detailed yet. Continue by insuring that the first interaction you have with these vehicles is not at the critical point when you want to show it to a customer for the first time. Get the keys to the vehicles and inspect the vehicle. You may even want to take it for a short test drive so that you are comfortable enough with it that you can instill the confidence you have in it to your customers. Additionally you should take the time to write down a few notes about the vehicle. The more prepared you are to show a vehicle the better your chances are that you actually will. Additionally you will find that the reason the best salespeople at your dealership are selling more cars than you is that they have been selling from a bigger selection of inventory because they know it exists and their customers recognize someone that is prepared. Read More...
Jeffrey F. Knott is the Author of From Zero to Hero, How to Master the Art of Selling Cars and can be reached by email: Jeff@Showroomtoday.com |
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