The Deal Maker
We have a constant saying in our group and it’s “put the deal maker in front of the deal.”
In the car business, it’s a must that the Floor Manager gets involved in the deal as soon as possible to help direct the process of the transaction to help close the deal. If you’re a Floor Manager and think your primary function is just closing a deal or doing one on one coaching’s you’re wrong.
The Deal Maker is the “Restaurant Manager” they are there to help guide the sales process into car deals. I’ve seen it time and time again when early management involvement has helped push the process to the next step. We have a saying with our sales staff and it goes, “if you’re not with a customer, then you’re prospecting.” Well if you are a Sales Manager, BDC Manager, Finance Manager, or Floor manager, “if you’re not with a deal, then you’re finding a deal.” This is the mind of the Deal Maker.
How do you find car deals? You need to know your numbers.
Here are 6 crucial ways to find car deals, but not limited to:
- Go through all missed trade evaluations – the best of the best buy or trade-in at 65% and the average dealer buys at 30%. Having your managers re-look or call the customer and offer more incentive helps turn a missed opportunity into a deal.
- Go through your logged walk-in clients – The very best say they close at 40% when reality if you do a better job of logging all your clients you’ll find you’re closer to 10%
- Appointments – Dealers on average have a 50% show ratio and a 50% close ratio on those shown appointments. Go through the 75% of the customer who didn’t come in or buy.
- Internet leads – I’ve seen dealers close at 20-25% on internet leads and I’ve seen them close at 9-10% there are deals here. Go through them.
- Phone Calls – If you are listening to your incoming calls daily you’re missing deals. 60% of the time the inbound call is being logged.
- The “dead deal” these are the deals your finance managers and your desk managers have attempted to make and weren’t successful. These usually are but every now and then a fresh set of eyes can find a different way and defibrillate the car deal.
Have a huddle every hour if needed, but there are car deals find them. Engage with your customer on the showroom and the lot. There is nothing more important than the customer in the building. All hands on deck when someone is on the premises to help guide the customer into a happy owner of a new or used vehicle. Use these simple reminders to work together to find car deals and you’ll be on your way to get those extra 2-3 car deals a day.