Business Development Centers Industry Best Practices

Transcription

1 Business Development Centers Industry Best Practices What your competition does not know and how you can use these Best Practices to beat them in a competitive marketplace With Cory L. Mosley, Principal at Mosley Automotive Training Moderated by Mike Bowers, Executive Editor at DealersEdge

2 Cory Mosley is the founder and principal of Mosley Automotive Training. Cory's experience in this Industry dates back more than a decade when he was a showroom sales professional finding his way. During his career in the business Cory has been tested on the sales floor, in the BDC, as an Internet Director, and GSM. He has a documented track record of building multi-million dollar sales operations and a strong eye for increasing ROI. As a retail "car guy" Cory understands the "old school" business and knows how to move dealerships towards a "new school" approach. He guided dealers nationwide towards achieving certification during the initial phase of the Ford Blue Oval and Chrysler 5 Star programs through the implementation of BDC follow-up process and customer satisfaction action plans. He has been on the frontline for the rollout of advanced CRM applications, Internet strategies, and the latest advancements in buyer psychology. During his career Cory has taken the stage at multiple Digital Dealer Conferences, Ward's Spring Training events, F&I and Showroom Conferences, as well as the J.D. Power Roundtable. As an expert in the field of new school selling Cory is frequently called upon for industry insight in publications like Dealer Marketing Magazine, Digital Dealer Magazine, Ward's Dealer Business, Dealer Magazine, Auto Success, and Auto Exec Magazine. He currently writes the monthly Sales Driver column for F&I and Showroom Magazine. His retail pedigree includes the Pence, Dominion, DCH, and Prestige Automotive Groups. Since launching his company in 2004, Cory has conducted training programs for some of the most highly respected dealer organizations in the country including Van Tuyl, John Eagle, and DARCARS. As a frequent 20-group, keynote, and workshop speaker Cory's down-to-earth presentation style makes him a favorite with "front line" personnel, managers, and dealer principals. No stranger to OEM's, Cory has also been called in to consult, develop strategy, work with district managers, and even do on-site turnaround training for organization like Chrysler and VW North America. Just a few years ago, Cory was named "the hardest working man in the automotive consulting/training business" by Dealer Magazine.

3 Business Development Centers - Industry Best Practices & Strategies Cory L. Mosley, Principal Mosley Automotive Training

4 Old School vs. New School Just Bring More Customers and We ll Sell More Cars Maximize Every Opportunity

5 Engagement Inhibitors Old School Questions What would it take to (earn) your business???? Old School Rapport Techniques Frankly, honestly, if I were you, etc. Communicating in news ways creates separation and reduces the customers ability to lie to you

6 The Challenge to Influence A large percentage of customers are buying anyway Customers typically choose a car, dealership, and GET STUCK WITH YOU! Creating separation as a matter of process is the answer!

7 The 4.5 Elements of Creating a Deal Separation Communication Branding Value Propositioning Influencing

8 Perceived Difference = Perceived Value

9 Proper Engagement What you ask sets the tone and the perception of the buyers What you ask determines their response What you ask makes or breaks the sale Your questions are a critical factor in the way your customers perceive you

10 Create Separation M + 3 Rule Law of Diminishing Returns Leverage the Power of Words Be Authentic Connecting Matters

11 Me + 3 Rule

12 Buyer Psychology Previous bad experience Knows they are a lay down Wants to be in control Very Busy Lives an Internet lifestyle

13 The Personality Matrix

14 Domineering Deal Maker Do s Be clear and specific Get to the point Focus on facts Fabricate control Dont s Ramble or waste time Try to build relationship Be unprepared Ask unnecessary questions

15 Convenience Buyer Do s Focus on action items Relate Support intentions Incentivize Dont s Be curt Be indecisive Be impersonal Take too much time

16 Dealer Distruster Do s Be knowledgeable Stay formal Provide follow-through Use third-party credibility sources Dont s Be casual Be vague Be unprepared Try to force quick decisions

17 Relationship Seeker Do s Focus on listening Show sincerity Offer assurance Allow time Dont s Rush into your agenda Stick to business Force quick response Interrupt

18 The Power of Words Global Warming Climate Change Early Adopter Crazy person who stood in line for a $600 phone

19 Word Tracks Equity Analysis Price & Vehicle Consultation Standard Price Vs. Now Promotion Price Assurance Your Presence is your leverage Utilizing all your resources

20 Change the Words: Common Scenarios Come on down / Trade appraisal / When are you looking to do something /

21 4- Core Communication Skills

22 4 Areas of Phone Skills Incoming Sales Calls Appointment conversion Appointment Setting the drive to the showroom Messages leaving an effective message to promote engagement Be-Back Follow-Up - What to say after the showroom pitch is over

23 Common Phone Challenges Customer Service or Customer Sales? Fear of Loss vs. Desire for Gain The Trap of Transparency No Pre-Call Plan

24 Objectives Professional introduction Contact Name Follow-up Number (best number) Break away reason (momentum breaker) Reinforce vehicle of interest Introduce alternative vehicles (if needed) Create appointment (closed in availability)

25 Motivating the Prospect Developing presence is leverage Because increases compliance Capturing the non-aggressive prospect What are the benefits to the prospect Avoid the common listening mistake

26 Initial Conversation Mechanics Begin with the end in mind -Stephen Covey What am I looking to accomplish? What are my best options to accomplish this? What tools are at my disposal to accomplish this goal?

27 Contingency Plans Pricing questions Trade questions Responding to competitive advantages Stepping away from the conversation

28 The Elements of a Proper Phone Message Every message should contain: 1. Return the call benefits to the prospect 2. Time sensitivity - Urgency Excitement creates excitement Two messages that we should be avoiding 1. The Hours message 2. The Qualifier message

29 Message Choices 1. Trade bait 2. Lease/finance hook 3. Incentives & rebates 4. Availability 5. Benefits package hook 6. Big sale event hook

30 Phone Checklist Points of Control Contingency Plans Pre-defined pricing strategy Pre-defined purpose of interaction Relevancy Non-price related lead-in

31 T.O.M.A. Top of Mind Awareness When you create T.O.M.A. you increase your sales because prospects who are not buying today will think of you when they are ready to buy! T.O.M.A. also establishes a last opportunity scenario Think Progressive Insurance Think Geico Think JG Wentworth Think Tax Masters

32 Relevant Follow-Up Crash Test Ratings Industry Awards OEM Incentives Dealership Incentives Dealership Benefits Package

33 Checklist Quality branding Proper grammar usage Effective or persuasive Consistent pricing strategy Relevancy Clear direction

34 Re-examine the Process What- What are you doing now? Why- Why are you doing it that way? Is- Is there a better way? Next Step... TAKE ACTION! Focus on the Deals you Don t Make

35 Take Action Practicality causes delay, emotion causes action Impact drives income Average performers plan what say, top performers plan what to ask Eliminate or differentiate your from the competition You can t mandate productivity Focus on the presentation

36 Let s Connect facebook.com/mosleyautomotive youtube.com/corymosley