After working with my personal clients in person and online over the past 2 weeks, I will share strategies that are being used by salespeople and business owners that are helping them get through this as successfully as possible.
Which Of These Best Describes Your Business/Career?
Is a proper and fully functional DMS system integrated in the business?
Is there an integrated CRM system which is properly used?
Do employees have clear performance goals?
Is Regional market share rate (new & used sales) measured monthly?
Compel Your Best Prospects
1-You have no predictable way to generate new leads relying on manual prospecting, personal promotion, and no response ads.
2-You focus on Branding and building Top of Mind Awareness in your marketplace.
3-You generally always have enough new prospects every year to increase your results.
4-You’re always able to generate prospects predictably. On demand, for a known cost, as many as you want, like a vending machine.
Educate and Motivate
1-If prospects are not ready to buy now, they fall through the cracks, and you have no systematic regular follow-up communication.
2-You believe that just staying continually in contact over time will produce the sale – whenever they are ready.
3-It usually takes you an unpredictable amount of time and effort, with no systematic approach, to transform prospects into customers.
4-You have a systematic way to engage with new prospects to find “five star candidates” and to patiently engage them over time.
Make Irresistible First Offers
1-You wait for prospects to take the initiative, able to take orders when people are ready to buy.
2-You consistently “check in” with prospects to see if there is anything you can do to help.
3-You focus on training the sales team to overcome objections and close prospects right now.
4-You continually make specific offers to prospects as they become ready -- taking a leadership role in all next steps.
Deliver Dream Results
1-You are unable to predictably get a consistent result for clients – and then blame the clients for not following the plan.
2-You are usually able to get the result for your clients, but the process and experience may be a little inconsistent.
3-You are confident that most of your clients will have a satisfying experience with your product or service.
4-You have a unique process and unique teamwork that gets a “dream come true result” for clients every time.
After Sales Service
1-Once the transaction is made, you are on to the next prospect, with no additional services offered -- so no testimonials or referrals.
2-You feel that each customer’s value is mostly the first transaction, and then you immediately move on to the next new customer.
3-You try to maximize transaction value with upsell offers or incentives on future orders placed now.
4-Each client experience leads to the next client and sets the stage for a lifetime relationship.
Nurture Lifetime Relationships
1-You have no database or CRM, no communication with clients, and just hope they return.
2-You generally measure your personal and business success only in terms of transactions, revenues, and profits.
3-You are generally aware of and measure the Lifetime Value of a client but measure it historically.
4-You continually measure and increase “return on relationship” of your entire client portfolio, which is your most valued asset.
1-You get sporadic, unpredictable referrals, no effort to orchestrate, recognize, or encourage the flow of referrals.
2-You stay in touch with your existing clientele in conventional ways without consciously and strategically measuring the results.
3-You focus on increasing referrals by constantly asking for and incentivizing referrals.
4-You proactively orchestrate your referral systems to create and measure referrals every month like clockwork.
SELLING IN 2021
How To Handle Cash Customer Problems
If you’ve followed any of my sales training, F&I training, or management training then you may have noticed that I always follow the same sales process when I’m teaching how to sell a high ticket item to a customer.
If you’ve ever purchased a high-ticket product from me you may have also noticed that I may have offered multiple payment options, even if it’s going on a credit card in order to close the sale. It’s not just out of a coincidence.
It’s because that sales process has helped me generate millions of dollars every year for myself and my clients.
It works for car and motorcycle sales, F&I sales, entrepreneurs and most other businesses that offer high-ticket products.
It’s the best sales process out there! And today I’m going to share with you how to handle cash customer problems.
What is a cash customer? It used to be a person that pays with greenbacks…. Cash… but that’s not how most people define cash anymore.
Today many people consider a credit card as cash… cashiers check as cash, bank draft as cash, personal check as cash. They’re not… and it matters because you’ll miss sales and profit if you believe those things are cash.
Most customers don’t mean to lie or mislead… but there’s some neuroscience involved here. if we ask a person how they’ll be paying, it causes the brain to think they’re dealing with a business that offers better prices to cash customers.
Therefore the majority of customers say… that they’re paying cash. And it’s not the customers fault… it’s just the way the human brain works.
Now, you might be saying that your customers are different where you live or work. Most of your customers are wealthy. You have a lot of cash buyers. All of the out of town incoming phone customers are cash buyer.
I can assure you that they’re not. That’s just that neuroscience thing at work again. Customers are similar east coast to west coast and in other capitalist countries. Most wealthy people, also know that you don’t pay cash for a depreciating asset, but if you ask them how they’re paying they’re likely to say, I’m paying cash.
It’s because they’re under the impression that they can save some money by telling you this. After All that’s partly how they got rich. By saving money when they can.
But what about the middle income? It’s the same thing. Just like the wealthy buyers, some of the mid level earners have money in the bank, heloc’s, 401’K’s and can also pay cash but they understand that’s not a good idea, not how you get rich and they might be able to get a better deal if they say they’re paying cash.
It’s important to treat everyone as if they have cash…… you know… just be nice, build value and close the sale.
So how exactly do you handle these cash customer problems? Give your customers payment options when it’s time to close your deal.
My first tip: Never ask your customer how they’re going to be paying for what you’re selling before you’ve given them some massive value and presented an offer to them. No matter what sales process is being followed, I’ve never heard of a proven system that says to ask the customer how they’ll be paying. If you do ask, rich people, average people and even poor people aren’t likely to tell you the truth.
See….I know that you might not want to hear this, but it’s not all about price. It is about saying the right thing or not saying the wrong thing.
Since the majority of customers live paycheck to paycheck, that means a good deal is not all about your cash price. A good deal is the product they want, from someone that will take care of them after the sale, at a price that will fit into their monthly budget.
Whether they’re wealthy or middle income earners, 80% of buyers finance their purchases, when you think about that, it means your cash customer may not be buying from you because they can’t afford the monthly payment.
It’s important to always know you have created massive value with every customer. People are willing to pay for the value you have created. I hope that you learned something about closing a deal when a buyer says “your price is too high.” It’s usually about payment.
If you need help growing your selling skills, business, F&I, buying or selling a dealership then check out my agency. Website: http://tommyady.com
I hope that you’ll click like, share it with your friends and comment if you have any questions about other tips I can share.
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