Hey new hires Chris Young right here and today I’m going to give you my top 5 rules for success in the automotive business.
I’ve been in the automotive business since 1991, so I thought I’d put together a video for you that helps accelerate your learning in the automotive business.
To give you some ideas on things, you can work on right away to help me be successful in the automotive business.
So without further ado, let’s just get right at so success.
Rule number one and that is commit you’ve – got to commit to the business, not for 30 days, not for 60 90, not even 6 months.
You need to commit yourself for one full year of the automotive business 1/4 year.
That’s right and here’s the reason why I want to pick up on a story, a history lesson to kind of give you the reason why I say one for you and that is in the 15 19 hernán quarters, a Spanish conquistador came over from Europe and he Went to Mexico, he came over to fight the Aztecs.
He got here was 600 men.
He was very well outnumbered by the Aztecs.
It was on their home soil when he got here.
He burned the famously burned the ships down, leaving no room for failure.
He indicated to his troops in to his men that they were going to win this battle one way or another.
They were going to die fighting for what they believed in and by having your back up against the wall.
You’ll do some amazing things.
We have much more grit than we would think and when we put ourselves back up against the wall were very, very resourceful rule number two masters: three skills right away: Creek opened any questions and either were questions.
Now quick.
We talked about an earlier video on how to handle.
I want to think about quick stands for clarified, rephrased, isolate and close.
It was a jewelry technique, we talked about and it would go something like this as a customer would say they want to think about it and you’d say hey, you know what it sounds like make sure make it a good decision.
If I was in your spot.
I’d probably do the same thing here: real quick before you take off, though what is exactly that you guys wanted to think over.
Is this something I said the color of the vehicle equipment, versa? Perhaps the price of the price he it sounds like you’re like me, and everyone else sounds like you’re on a budget.
Am i right, you know what.
If we went back inside, sat back down took another look at the figures found a way to fit it into your budget.
Do you see any other reason why you wouldn’t take it home? So what we did there was we clarified what the objection was by finding out that it was a budget issue, money issue.
Then we went ahead and we phrased it into budget number.
The isolation part of the third part of it we isolated Hey other than that, is there anything I’ll stay on the way, and then we close hey, you know, let’s go back and sit down, so that is clarify refer, is isolating close now either were question? Is an open-ended questions? They’re gon na help you investigating, with the gas they’re gon na help, move the conversation along hope to gain rapport and also get a bunch of information to know exactly what’s important to the guests.
So, for instance, either were questions they just are asking an either/or question is kind of a multiple choice, so I would say to the guests: hey: will you guys interested in cloth or leather? You guys looking for trucks, bands or SUVs? Now, when you say trucks, are you thinking more like an extended cab crew cab, we’re just a regular cab? Okay, regular cab? No, you guys use this for business or for pleasure, or maybe a little, both okay business.
What type of business you have? Oh, it’s! A construction business.
How long have you been doing that? Oh, it’s, a family business, so your family? Are they from around this area? Oh, yes, I’ve heard of them.
So what we’re doing is is we’re asking some either work questions we ask questions.
That was one of the other multiple-choice and then I had some open-ended questions.
Oh, where do you work? How long have you been doing that is that a family business, those are open-ended questions, leaving the ability to not be able to answer whether, yes or no? It’s difficult to answer those with one word.
So then you get to know what the customer very well now and you get a little bit more information helps establish rapport and help you with identifying needs and once rule number three create a pipeline.
You need to have a flow of customers that come into the dealership.
I don’t want you to rely on a dealership advertising.
What I want you to do is I want you to make your own sales.
So here’s how you do it a couple of things.
It’s got two parts to it, so part one is put everybody that you wait on or that you talk to and you get their information put them in your CRM or customer retention management.
Some people call it a database system, so put everybody in there step number.
Two or part, two, the third rule, is put everybody that you put in that CRM.
I want you to follow every single one of those people up every one of them, not a time out of nine.
I want you to follow every one out, not because you think the person’s not interested now, because a friend or a cohort at work told you that or your manager said you were logging too many people put everybody in there and follow every single one of them Up and here’s how here’s, how it’s gon na help you in sales, so so here’s why this is important.
Hopefully, you can see this here so we’re in assume that we’re doing a five-day Work Week and we’re going to wait on, say two to three people a day or log, two or three people in our CRM each day.
Now that should give us around twelve guests that we’ve waited on for that particular week.
That would leave us with if we have a fifteen sixteen twenty percent, closing ratio on the walk-ins we’d have two sales leaving us with ten prospects.
Now, if you follow every single prospect up, we’ve got a 33 % chance.
They will come back in and set an appointment to come back and visit us again.
So not a huge huge percentage of people will come back, but if you follow every one of a month, 33 percent – so that gives you three people to come back.
However, here’s the good it is, the closing rate, is showing to be back at 67 percent.
So that means that you’re gon na pick up another two additional sales by following every single one of those people up.
Hence the reason why it’s so important about every one of a month now what you’re going to end up getting as two sales from the walkins and those two additional sales from the be backs.
So that’s going to give you four sales for the week now we take those four sales for the week and we multiply that times four weeks in a month.
It gives you 16 sales for the month.
That is how you’re going to start making money in the car business, I’d venture to say at just about any dealership across the nation.
If you sold 16 vehicles in a month, you’re going to make some money and obviously it’s just going to get better and better.
So that should be your one of your short-term goals there in the car business speaking of goals.
Now we’re talk about rule number four and that is setting goals, but even more importantly, tracking those goals.
So I want you to measure your goals or set your goals.
Goals would be obviously some type of a dream with a timeline on there.
So 16 would be a goal that I’d have for you.
After a certain amount of time in the business, you get a little training, maybe 90 days.
However, what I really want to talk about is cracking as will do goals in another.
Video tracking is what you need to do early on.
So I want you to track everything track the objections you get obviously track all the guests that you get, that you wait on, and people that you get information from and put them in your CRM.
Broadly, you should be tracking these three items, their opportunities, so the people you wait on your activities.
So what did you do with those people? Did you do a demo driver presentation and the results did they leave? Did they buy? Did they? What did they do so activity opportunities activities and results measure those three things, because there’s a little rule that I learned years ago, a quote called what you measure you can improve upon.
So we’ll talk about goals and tracking in another separate video, but that is rule number four.
Finally, rule number five rule number five is one hour of power every day, the power hour, so minimally you’re going to work for 20 minutes on three different areas in your career.
So what I want you to work on skill skills would be things like correct.
Open-Ended question: either/or questions word tracks for learning how to overcome actions.
Those types of things product knowledge each week pick one brand new vehicle to learn.
Focus on that particular vehicle.
Do walk arounds on that vehicle.
Ask your colleagues to help you with that vehicle.
Maybe somebody! That’s got a little more experience with that particular product.
That’s going to be your study week on that pickup vehicle a week and then, lastly, for 20 minutes minimally work on your attitude.
Attitude is going to be hugely important.
I’ve mentioned earlier that the closing ratio of walking is about really they tended to twenty percent.
So, let’s just say, fifteen percent.
That means you’re getting rejected.
Eighty five percent of the time or 85 percent of the time you’re not achieving the goal, which is to help somebody purchase a vehicle.
So you have to have your attitude.
Your head has to be right.
You should be working on that every day and if you tend to those five things immediately in the car business, your first 90 days, you focus on those five rules for success.
You’ll be extremely successful, and I want to end with this quote because it’s about perseverance earlier I said you have to commit to the business Steve Martin famously said.
Thankfully, perseverance is the great substitute for talent.
Great salespeople aren’t born they’re made and they’re made through perseverance and hard work.
That’s the reason why you need to follow the five rules for success.
Thank you.
