autosuccessJun06

June 2006

Sell What It Does, Not What It Is

MOVING CUSTOMERS FROMTHE INTERNET TO YOUR SHOWROOM

HOW MODERN CONSUMER’S

HELPED SPECIAL FINANCELEADER EARNHARDT

DO JUST THAT

MOVING CUSTOMERS FROMTHE INTERNET TO YOUR SHOWROOM

HOW MODERN CONSUMER’S

HELPED SPECIAL FINANCELEADER EARNHARDT

DO JUST THATTerry and Kevin Murphy

©2006 AutoTrader.com is a trademark of TPI Holdings, Inc. and is used under license.

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AutoSuccess Magazine is published monthly at 3411 Pinnacle Gardens Drive, Louisville, Kentucky, 40245; 502.588.3155, fax 502.588.3170. Direct all subscription and customer service inquiries to 877.818.6620 or [email protected]. Subscription rate is $75 per year. AutoSuccess welcomes unsolicited editorials and graphics (not responsible for their return). All submitted editorials and graphics are subject to editing for grammar, content and page length. AutoSuccess provides its contributing writers latitude in expressing advice and solutions; views expressed are not necessarily those of AutoSuccess and by no means reflect any guarantees. AutoSuccess accepts no liability in respect of the content of any third party material appearing in this magazine or in respect of the content of any other magazine to which this magazine may be linked from time to time. Always confer with legal counsel before implementing changes in procedures.© All contents copyrighted by AutoSuccess Magazine, a Division of Systems Marketing, Inc. All rights reserved. Reproduction inwhole or part is prohibited without express written consent from AutoSuccess. AutoSuccess may occasionally make readers’ names available to other companies whose products and/or services may be of interest; readers may request thatnames be removed by calling 877.818.6620. Printed in the USA. Postmaster: Send address changes to AutoSuccess Magazine, 3411 Pinnacle Gardens Drive, Louisville, Kentucky 40245.

Courtney Paris, Sales-improvement Strategist [email protected]

Brian Ankney, Sales-improvement [email protected]

Brian Balash, Sales-improvement [email protected]

Charlie Tierney, Sales-improvement [email protected]

3411 Pinnacle Gardens DriveLouisville, Kentucky 40245

toll free: 877.818.6620facsimile: 502.588.3170 web: www.AutoSuccessOnline.com

Patrick Luck, Editor & [email protected] Susan Givens, Vice [email protected] Thomas Williams, Creative [email protected]

Dave Davis, Creative [email protected]

helping to promote...

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Acts 10: 34-35

And Peter opened his mouth and said:“Truly I perceive that God shows no partiality, but in every nation any one who fears Him and does

what is right is acceptable to Him...”

Higher Response Rates and More LeadsFool-proof Advertising with Vanity Numbers

Scott’s Individualized Consultation Transcripts

Gaining Visibility

Developing the Traits of a Leader, Part 1

Are You Checking the Bad Guy ListComplying with OFAC Regulations

Increasing Total Yield

Going UpWhat’s an Elevator Speech and Why Do You Need One, Part 1

The Value of a Loyal Customer

The Speed of Doing Business

Investing the Fundamentals

Moving Customers From the Internet to Your ShowroomHow Modern Consumer’s Driverloans.com Helped Special Finance Leader Earnhardt Do Just That

Five Keys to Selling 100 Extra Cars a MonthFordDirect Internet Dealer of the Year Shares Best Practices

The Essentials of Leasing More Cars

Don’t Let Profits Walk Out the Door

Prospecting: Establishing Relationships

Characteristics of a Pro

The 7 Commandments of Selling, Part 1

A Hidden Cash Asset - Your Customer’s Future Credit Card Sales

Sell More Online Immediately and Keep Your Best People

The Most Important Decision of Your Life

2424 LauraNoonan

ScottJoseph

BrianTracy

MikeTamas

SeanWolfington

DavidKain

PattiWood

DavidJohnson

TimShea

BryanHopkins

JeffMorrill

RichardLibin

ZigZiglar

TomHopkins

DavidJacobson

GlennGoldman

MarkTewart

God is the source of all supply

JimAdams

CharlesArrambide

The No. 1 Suzuki Dealership in the Nationis Selling 25-40 Referral Appointments Per Month

GaryLinam

KevinMurphy

8 www.autosuccessonline.com

Gaining VisibilityHave you noticed that some workers receive more promotions and greater pay than their colleagues, despite the fact that they

are apparently not as competent as you? This doesn’t seem fair. Why should some people get ahead when others, who seem to be working much harder and even longer hours, get passed over for promotion and the additional rewards that go with it?

The fact is, to be a great success, it is important not only to be good at what you do but also to be perceived as being good at what you do. Human beings are creatures of perception. It is not what they see but what they think they see that determines how they think and act. If one person is perceived as being more promotable, then it is very likely that he/she will get additional responsibilities and more money, even though there are others that can do a better job, if given the chance.

Fortunately, there are several things that one can do to increase visibility and accelerate the speed at which they move ahead in their career.

Develop competence.Determine what parts of your job are most important to your boss and to your company and then make the decision to become very good in those areas. You must be perceived as being very competent at what you do. That perception alone will bring you to the attention of more people faster than you can imagine. The perception of excellent performance will open up opportunities for greater responsibilities, higher pay and better positions. Becoming good at what you do should be the foundation of your strategy for gaining higher visibility and rapid advancement in your career.

Pay attention to your overall image. How you appear to others makes a real difference. A recent survey of personnel executives found that the decision to hire or not to hire is made in the fi rst 30 seconds. There are many elements of your life over which you have no control. But your external dress and appearance are totally a matter of personal preference. Through their choice of clothes, their grooming and their overall appearance, individuals deliberately make a statement about the kind of people they are. The way you look on the outside is a representation of the way you see yourself on the inside. It’s a good idea to dress the way the senior people in your company

dress. Dress for the position two jobs above your own.

Join professional associations. Research professional associations connected with your business or fi eld. Begin by attending meetings as a guest to carefully assess whether or not a professional association can be of value to you. Determine if the members are the kind of people you would like to know and are well established in their careers. Then, if you have decided that becoming known to the key people in this association can advance your career, take out a membership and get involved. Pick a key committee and volunteer for service. Find out which committee seems to be the most active and the most infl uential in that organization and then step up to the plate. Volunteer your time, expertise and energy, and get busy. Attend every meeting. Take careful notes. Ask for assignments, and complete them on time and in an excellent fashion. This gives you an opportunity to perform for other key people in your profession in a non-threatening environment. You give them a chance to see what you can do and what kind of a person you are. You expand your range of valuable contacts in one of the most effective ways possible. The people you get to know on these committees can eventually be extremely helpful to you in your work and in your career.

Join a well-known, charitable organization. Become active by donating your services to its annual fund-raising programs. You may not be wealthy now, but you do have time, and your willingness to give of yourself will

soon be noticed by people who are higher up. Many men and women with limited contacts and limited resources have risen to positions of great prominence as the result of getting to know the key community leaders who participate in charitable organizations and professional associations.

Be able to set priorities.Learn how to separate the relevant from the irrelevant when facing the many tasks of the day. Managers place very high value on a person who can set priorities and move quickly to get the job fi nished. Dependability in job completion is one of the most valued traits in the American work force. When your employer can hand you a job and then walk away and never worry about it again, you have moved yourself onto the fast track, and your subsequent promotion and pay are virtually guaranteed.

Upgrade your work-related skills. Continually look for ways to keep your skills current, and make sure that your superiors know about it. Look for additional courses you can take to improve at your job, and discuss them with your boss. Ask him/her to pay for the courses, but make it clear that you’re going to take them anyway. Also, ask your boss for book and audio program recommendations. Then follow up by reading and listening to them and asking for further recommendations. Bosses are very impressed with people who are constantly striving to learn more in order to increase their value to their companies.

Develop a positive mental attitude. People like to be around people they like and tend to promote them. A consistent, persistent attitude of cheerfulness and optimism is quickly noticed by everybody. When you make an effort to cultivate an attitude of friendliness toward people, they, in turn, will go to extraordinary efforts to open doors for you.

In the fi nal analysis, taking the time to become an excellent human being will do more to raise your visibility and improve your chances for promotion than will any other single thing that you can do. You can do it if you really want to.

Brian Tracy is the chairman and CEO of Brian Tracy International. He can be contacted at 866.300.9881, or by e-mail at [email protected].

BrianTracysts fos ls ms sf fi s

leadership solution

The fact is, to be a great success, it is important not only to be good at what you do but also to be perceived as being good at what you do.

Prospecting:Establishing Relationships

ZigZiglar

Selling is a contact sport. By increasing your contacts, you increase your selling opportunities. Be creative.

1. Take a doctor jogging. One of our clients sells to hospitals, clinics and doctors. She was having a diffi cult time meeting with a certain doctor. The doctor’s staff told the sales rep that she (the doctor) was a jogger and that she participated in various volunteer activities within the community. The sales person thought outside the box and entered the doctor and herself into a 5K run for “Race for the Cure.” What an active way to establish a relationship.

2. Hit a bucket of golf balls. Do you play golf? (I do, but I still stand too close to the ball AFTER I hit it!) Does your prospect play golf? Instead of investing an entire four hours on the course, why don’t you invite your prospect out to the driving range and hit a bucket of balls for an hour? You don’t play golf? Well, try this. Pay for your prospect to receive a golf lesson by a local pro. What a swinging way to establish a relationship.

3. Celebrate obscure holidays. For instance, did you know that January is Hot Tea Month? Perhaps you know of a prospect that is a hot tea drinker. January is your month to make an impression. September is Better Breakfast Month. Maybe you should celebrate by taking a prospect to your favorite breakfast restaurant. October is National Popcorn Popping Month. Is there an offi ce that could use an extra large container of assorted popcorn? You’ll be a big hit if you can fi nd one. What a fun way to establish a relationship.

4. Send greeting cards. Hand written cards get opened. Hand written messages get read. Capitalize on obscure days because you can rest assured that you are the only sales person celebrating these days. Aug. 16 is National Tell a Joke Day. (Don’t get me started!) Sept. 14 is National Cream Filled Donut Day. Oct. 5 is National Do Something Nice Day. Buy a card. Write a message. Mail the card. Wait three to fi ve days. Call the prospect and tell her you were the one who sent the card on International Tuba Day (May 7). Greeting cards can help separate you from the competition. What a creative way to establish a relationship.

5. Offer a free service.We all like free stuff. So do your customers and their business associates. Perhaps you can make a presentation in a “brown bag lunch” format. Maybe you can bring in an associate to address physical wellness, fi nancial issues, parenting or family matters. A vice president of a staffi ng agency here in Dallas conducts 30-minute sessions on what she calls “Lunch

and Learn” programs. What an educational way to establish a relationship.

Zig Ziglar is the chairman of the board of Ziglar Training Systems in Dallas, TX. This article was reprinted with permission. All rights reserved. He can be contacted at 866.873.0026, or by e-mail [email protected].

sts fos ls ms sf fi s

sales and training solution

9june 2006


There are many traits or attributes common to those who can be called professionals in the fi eld of automotive sales. A particular

quality that separates the average from the great can be expressed by one simple word - discipline.

Years ago, I used to teach that one of the top qualities separating the average from the great was DESIRE. However, I have since met and observed many students who had the overwhelming desire to succeed, but lacked the discipline required to lay out the specifi cs of their paths to success, stay on track and ultimately fulfi ll their potential. So, your desire to achieve must be tempered with your ability to discipline yourself to do what’s necessary at all times.

Most of the great ones have an overwhelming desire to prove something to someone. They know they can be the best in their fi eld and are out to prove it to the world, or maybe just to themselves and their families. This desire burns so strongly within them that it keeps them moving in the right direction. It keeps them positive on days when things don’t go just right. It keeps them cheerful to their clients and fellow sales people. It makes them more effi cient and professional in their day-to-day activities. It’s the fuel that keeps their engines running in top condition.

The desire they have to succeed is not wholly selfi sh either. In their quest for success, they sincerely want to fi nd those people looking for a new vehicle and fulfi ll their needs. Their success is brought about by bringing happiness to those people they come in contact with and serve.

Now, I can’t tell how much desire you have to make it in this fi eld. Only you know that. The answer comes in knowing how much stress,

anxiety and pain you can handle before you call it quits. Are two rejections and three No’s enough to send you looking for another profession? If so, you have a low threshold of desire and a high one for rejection. Think about what you’re willing to give or do to achieve what you really want.

Desire without discipline leads to disappointment, disillusionment and despair. Don’t let yourself be disappointed. Develop the discipline you need to succeed.

Professionals pay close attention to details. They ask questions that help them get a better understanding of exactly what their clients are looking for in a vehicle - style, performance, mileage, color and size. They have their paperwork in order - properly fi lled out, recorded and fi led. They return phone calls promptly - even if it’s just to leave a quick message that they’ll be back in touch later. They keep their promises and have answers ready when questions are asked.

They are highly goal-oriented.They are striving for a certain number of cars sold each month, a certain income, a trophy or an award. They know exactly what they’re working for and have a plan detailing when and how they’ll achieve it.

Do you have your goals in writing? If not, you are a wisher, an undisciplined dreamer. You haven’t really committed yourself to achieving anything. You’re like those average people in your offi ce who say, “Sure, I want to make more money, but after the day I had yesterday, I’m not leaving the offi ce today.”

You see, the successful ones, the true professionals, begin where the failures stop. They do what the failures are afraid or too lazy to do.

The great ones understand that they must

strive daily to improve their skills. They have jumped in with both feet and are willing to pay the price of learning what they have to know to be a professional in this business. They’ve committed to sales as their career. They are constantly striving to improve themselves by attending seminars and functions, listening and reading sales material and staying abreast of new technology that will assist them in serving their clients more effi ciently.

The live by this motto: “I must do the most productive thing possible at every given moment.” Those 12 simple words literally changed my life and my career nearly 40 years ago. Whenever I felt doubt about what I was doing I would glance at these words hung by my desk, get re-focused and do the next most important thing.

I hope you’re not one of those people who is “just giving it a try.” People with that attitude have a plan of action for when they fail. You’ve heard it, I’m sure. “If I don’t make it in this, I can always....” They have a plan for failure. They’re anticipating it, and will probably get it. Planning to succeed is so much more exciting than planning to fail.

Another characteristic of the top people in sales is that they give excellent service. They know they are paid in direct proportion to the amount of service they give to their clients. They understand that we are in the people business. We don’t sell vehicles. We get people happily involved in owning vehicles by satisfying their needs.

World-renowned master sales trainer Tom Hopkins is the chairman of Tom Hopkins International. He can be contacted at866.347.6148, or by e-mail [email protected].

Characteristics of a ProTomHopkins



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Dealix Drives Success.

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2002Lead Quality, Service

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Are you happy with your F&I department’s production? Is your PRU where you want it? What are you willing to do about it? Because

of the pressure from above to get volume, many sales managers do anything they can to “move” a unit, even if it means losing money on the front end. Business managers then have the task of making the total yield of the deal positive.

Does your business manager have the proper tools and training to improve the total yield? The buzz in F&I over the past few years has been menu selling and legal compliance. Don’t let your business managers use a menu without being professionally trained. The general consensus seems to be that by simply using a menu, production will increase and the store will stay out of the legal doghouse.

Look at increasing total yield through product sales.

Many stores that use a menu still generate

Increasing Total Yield

MikeTamassts fos ls ms sf fi s

f&i solution

most of their PRU income from rate. What happens to your store’s total yield if the customer refi nances? Are you maximizing total yield by offering the proper products? When was the last time you reviewed and updated the products on your menu? Do the products you offer bring perceived value to your customers? Does your menu offer a service contract in each package?

Many stores are loading up their menus by offering products such as dent repair, GPS tracking devices and paint protection.

Recently a program hit the industry that actually allows customers to bring their vehicles back to the selling dealership without facing any negative credit effects if a certain life-changing event has occurred. This criterion covers a wide range of everyday circumstances, including physical or mental disability, loss of driver’s license or involuntary job loss. Many more real-life situations are covered, as well.

With today’s unsteady economy, massive lay-offs and negative-equity epidemic gripping

our industry, this program certainly brings a value-added concept to both customers and dealerships. For starters, this program is only available if the customer fi nances at your dealership. Should the customer refi nance, he or she will lose the benefi ts of the program. This is also a great way to increase fi nance penetration and decrease chargebacks through refi nancing. Unlike credit insurance, this program is not rated by age or health. Almost everyone qualifi es, which means you can offer it to everyone fi nancing a car at your store.

To ensure your menu produces profi table results, be sure your business manager is properly trained; then review the products being offered to be sure they are in tune with the needs of today’s customers. Combining a professionally trained business manager with a properly balanced menu will increase total yield in your dealership.

Mike Tamas is the vice president of training with American Financial & Automotive Services. He can be contacted at 866.286.1339, or by e-mail at [email protected].

Developing the Traitsof a Leader, Part 1

SeanWolfi ngtonsts fos ls ms sf fi s

leadership solution

Look at any leader and you’ll notice he or she has developed a collection of traits that have helped him or her arrive at the top

- at a place where they are considered one of the best, if not the best, at what they do. These leadership traits include discipline, the ability to prioritize, to build trust, the ability to infl uence others and to cast vision. In this article we will look closely at the ability to build self-discipline and examine the other leadership traits in future articles.

No matter how gifted a leader is, his gifts will never reach their maximum potential without the application of self-discipline. Self-discipline is a key to success. Self-discipline often means doing more than what’s necessary, what you need to do to prepare and to grow even when it’s tough and it hurts and when you’d rather do something else. Self-discipline means refusing to quit. A person who refuses to quit knows that their job begins when others stop trying.

Self-discipline positions a leader to go to the highest level and is a key to leadership that lasts. If you want to become a leader for whom self-discipline is an asset, here are a few action points:

Challenge Your Excuses To make self-discipline part of your lifestyle, you must challenge and eliminate any tendency to make excuses. Some common ones include, “I don’t have time,” “I have too many responsibilities,” “I don’t know how to” or “I’m not good at.” You get the picture and can probably think of a few more. The worst excuse of all is “I have to … (you fi ll in the blank)” because it conveys a victim attitude. Change “have” to “choose” and watch your excuse slip away. If you have several reasons why you can’t be self-disciplined, realize that they are really just a bunch of excuses and challenge each and every one of them to get to the next level as a leader.

Remove Rewards Until the Task is DoneAny industry that pays goof-offs and go-getters equally will sooner or later fi nd itself with more goof-offs than go-getters. If you lack self-discipline you may be in the habit of expecting your rewards before hitting your target. In today’s culture of instant gratifi cation this can be easier said than done. Today, people reward themselves with fast

food that requires no preparation, they charge major purchases without the resources to pay for them and they have access to anything and everything at a moment’s notice. It would appear to go against our very culture to reserve a reward until after the job is done, but those who do will fi nd that self-discipline becomes part of the fi ber of their character.

Stay Focused on ResultsAnyone who focuses on the diffi culty of the work instead of its promised results or rewards will easily become discouraged. Discouragement breeds procrastination, and if a person dwells on those diffi culties too long they develop self-pity rather than self-discipline. The next time you’re facing a critical task and you fi nd yourself thinking of how daunting it is, and this leads you to thinking of doing what’s convenient to avoid paying the price of the hard work ahead, change your focus. Count the benefi ts of doing what’s right and then dive in. Do Right and You Will Feel RightSelf-discipline has rewards other than just getting results. It feels good to do good and the people who do whatever it takes to do things right enjoy the process and the outcome a lot better than those who cut corners. As you do the big and little things right, it builds your internal architecture and character, but if you take short cuts that make you more comfortable in the moment, it tears down that internal architecture that holds up your character and self esteem. The most important tasks are the small ones that no one knows about but you. By doing the little things well, we prepare ourselves for the big things and each job well done outside the sight of others is a private victory that strengthens our self-discipline and character.

You may have talent and you might even see a lot of motion, but without self-discipline you’ll see little sustained and concrete results. So start challenging your excuses, reserve your rewards until the diffi cult tasks are done and stay focused on the results and you will fi nd yourself building self-discipline and success as a leader today.

Sean Wolfi ngton is the owner of BZResults.com. He can be contacted at 866.802.5753, or by e-mail at swolfi [email protected].

13june 2006

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Are You Checking the Bad Guy ListComplying with OFAC Regulations

CharlesArrambidests fos ls ms sf fi s

leadership solution

Checking the so-called “Bad Guy” list should be part of your hiring and sales processes. If you’re not familiar

with this list, you may know it by another name, the “OFAC” list or the “Specially Designated Nationals (SDNs) and Blocked Persons” list.

The U.S. Department of the Treasury’s Offi ce of Foreign Assets Control (OFAC) maintains the list, which incorporates the names of thousands of suspected and known terrorist organizations, drug traffi ckers and others. OFAC administers and enforces economic and trade sanctions against targeted foreign countries, terrorism-sponsoring organizations and international narcotics traffi ckers.

How does OFAC’s list apply to your dealership? The government prohibits all U.S. persons from doing business with any individual, group or entity listed. Someone listed could attempt to buy a vehicle from you or apply for a position at your dealership.

Consider these scenarios: • A dealer rents a truck to a customer

without checking OFAC. The customer fi lls the truck with explosives, parks it in front of a building and lights a fuse, destroying the building.

• A dealer hires an employee without checking OFAC. The employee works for two years. One day he doesn’t show up for work or call. Later, it’s discovered the employee was part of a terrorist attack.

In both cases, if an investigation shows that the perpetrator was on the SDN list, the dealers could be held accountable for neglecting to screen the names.

When are you required to check the OFAC list? OFAC requirements apply to all cash, credit and lease transactions, as well as consumer- and business-purpose transactions. There is no minimum-dollar amount on purchases. Following the letter of the law, you should screen a customer buying windshield wiper

blades just as you would a customer buying a new car. Additionally, you must screen employees and vendors against the database.

Penalties for non-complianceViolators could face harsh criminal and civil penalties. Penalties include fi nes ranging from $50,000 to $10 million, and 10 to 30 years in prison for willful violations. Civil penalties range from $11,000 to $1 million for each violation.

How to complyIf you are not in compliance with OFAC requirements, take immediate action toward complying. Here’s how to get started:

• Develop a written policy stating compliance with the law is mandatory.

• Assign responsibility for coordinating the program to a trusted employee.

• Determine who and what you will screen. This should include employees and all required transactions (virtually all sales and service cash and credit transactions, as well as payments to vendors).

• Decide how you will screen names. The process doesn’t have to be expensive or cumbersome. You can:• Screen names using OFAC’s Web

site. Note: OFAC updates the list as needed, which is fairly frequently, so don’t rely on a printed version.

• Screen names using vendor software programs. There are many options, including some vendors that specialize in the automotive industry. Here are a few to consider:

• Dealership Defense LLC (www.dealershipdefense.com) • Automotive Compliance

Consultants (www.compliantnow.com)• EthosHROnline (www.ethoshronline.com) • Equifax (www.equifax.com)• First American CREDCO (www.credco.com)

• Let someone else check. There are vendors who will implement software and perform screening for you. Also, most major credit bureaus offer this

type of service. If you use a credit bureau to screen credit transactions, remember that you also need to screen employees, payments to vendors and cash transactions.

• Know what to do if a name matches the SDN list. OFAC has a process for handling “hits,” and it involves a little research. Is the name an exact match or close? Is the person located in the same general area as the SDN? If not, you may have a “false hit.” If it looks very similar, call OFAC’s compliance hotline at 800-540-OFAC (6322) for verifi cation.

• Document and retain screening records. Store them in the appropriate customer, vendor or employee fi les. If a problem arises, you’ll be able to show your screening results.

For more informationWhat I have provided is strictly an overview. Please talk with qualifi ed legal counsel for further details and to ensure that you are in compliance. Another good resource is the U.S. Department of the Treasury Web site, http://www.treasury.gov/offices/enforcement/ofac/, which provides answers to frequently asked questions and much more.

What’s ahead?Next month I’ll address self-audits – things you should be checking before someone else does.

This information is presented for risk management purposes only. It is not to be construed as legal advice or legal opinions. Consult your legal counsel for assistance with OFAC compliance. Universal Underwriters Insurance Company, its affi liates, agents and employees assume no responsibility or liability for making this information available.

Charles F. Arrambide is assistant vice president and associate risk offi cer for Universal Underwriters Insurance Company. He can be contacted at 866.347.5019, or by e-mail at [email protected].

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Sell More Online Immediately and Keep Your Best People

DavidKain

In the mid- to late 90s, when dealerships were starting to consider the Internet as a marketing tool, dealership owners and managers were

faced with a decision: Embrace the Internet as a marketing and sales tool or wait and see if it would be the “event” so many predicted. I think the dealers who have embraced the opportunity are enjoying the fruits of their labor and are likely morphing their online operations to increase their overall dealership profi tability and market share with moves into parts and service, commercial vehicles, auctions and more. If you are still waiting, the good news is you can still adapt your organization to this consumer - and dealership - friendly environment and grow your sales and profi ts right away.

One of the early mainstay thoughts was to have “dedicated” Internet staff to manage the leads a dealership received. Why this worked then, and works now, is that having someone focused specifi cally on this part of your business without distraction causes them to make things happen in order to earn their paycheck. It makes sense that, if the only way you are going to make money is by selling vehicles online, you will improve your processes to the point that customers respond positively and purchase vehicles from your dedicated Internet sales person.

The interesting thing is that then, and even now, the role of the dealership sales manager was not adapted to lead the charge in online sales in many, if not most, dealerships. Dealers and general managers abdicated their sales managers of the responsibility to create selling processes for Internet leads while holding them accountable for lot traffi c and phone traffi c. Perhaps this set-up was born from manufacturers and lead providers who surveyed customers and found the customer was not particularly

pleased with the traditional sales process of back-and-forth negotiations with the sales manager and wanted to have a streamlined buying solution. It was suggested by many online pioneers that the Internet provided the perfect environment to bypass the sales manager role and give the consumer the opportunity to complete the transaction with one dedicated person. This idea worked then and works now, but it is short sighted because it sidelines some of your best dealership sales talent and, in many cases, puts the dealership at great risk when their “dedicated” person leaves and takes all the experience, marketing contacts and online sales ideas with them to another dealership.

A better solution that is long lasting is to weave the Internet into your traditional selling system and normalize deals as much as possible to satisfy the online and offl ine buyers. This is not a stretch to consider holding your sales managers accountable for ALL SALES - including the Internet. The old adage that sales managers have full plates and can’t supervise the sale of online prospects while they can manage walk-in and phone-in prospects is preposterous. The best sales managers want to manage the entire selling environment and adapt their approaches to what works for each client. It is pure art to see a sales manager work with a customer who is a tough negotiator in one offi ce, close the deal by showing fi rm closing skills, and then deftly work with a fi rst-time buyer in the next offi ce who needs a gentle push to decide to purchase. Therein lays the reason the sales manager ascended to this role in the fi rst place. Why limit your growth potential by sidelining that talent when it comes to the Internet?

With nearly 80 percent of automotive Internet shoppers starting the buying process online, one has to reason that many will walk in and phone in after doing their research and hope to fi nd sales people who have the dexterity to

assist them. It is no different to me than the customer who had researched at their library, bank or credit union prior to their dealership visit when I fi rst started selling in the 1980s. I had to adapt my selling to credit them for their due diligence while still moving them through the steps to the sale.

Rather than limit your sales and profi t success by funneling Internet customers to Internet-only sales people, I truly feel the dealerships that will sell in volume in the future will train their entire staff to respond to this ever-growing buying population and, most importantly, challenge their sales managers to add Internet sales responsibility to their already full plate. Your sales managers already recognize that lot traffi c is dropping and this will open up their eyes to a growing opportunity and allow them to show their true sales talents.

The good news is that the current thinking of dedicated Internet sales teams and BDC teams still works extremely well, so there is no need to abandon successful operations. My suggestion is to take what works and transfer these ideas to the overall sales fl oor and teach your sales managers and traditional sales people how to effectively work with Internet prospects. You would likely see an immediate boost in sales. Imagine if you knew that 80 percent of your customers were in a parking lot each day at the local discount store – I can assure you that your sales managers would be there too with a team of sales people focusing on those prospects. This is similar, and now I think it is time for you to ask your sales managers to add one more item to their already full plate and sell more vehicles to online prospects.

David Kain is the automotive Internet training specialist at Kain Automotive Inc. He can be contacted at 800.385.0095, or by e-mail at [email protected], or visit www.kainautomotive.com.


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Hi my name is Mark Tewart. I am a renowned expert in automotive sales, sales marketing and sales management. Many of you reading this may have heard me speak at seminars, state association meetings, NADA or NIADA conventions. You may have read my articles in AutoSuccess or other magazines or seen my shows on Automotive Satellite Training Network.

Whether you know me or not, you may be wondering what allows me to be able to make such an outrageous claim. The answer is simple. I have accomplished this for my clients, every time I have tried without fail. If a client follows my full-proof and proven methods, the results are as predictable as the sun coming up every day. That may sound arrogant to some of you, but to me and my select clients it’s just reality.

Every year I am bombarded with dealers that ask me to help improve their sales and profi ts. I reject most of them. I only choose a few each year to work with on such a large scale. There are a few reasons why I carefully hand pick who to work with.

The fi rst reason is that it’s easy for you to say you want to improve but most people don’t want to do the things necessary to make it happen.

This isn’t some magic-button, pie-in-sky fad. These are real-world and proven methods for massive profi t improvements. It takes hard work and lots of commitment.

The second reason for me being picky about who I work with on these projects is that frankly I don’t have the time. To create the massive results that you and I are looking for requires a great deal of my time and effort. I am an in demand speaker, trainer and consultant and I own three successful businesses. Because of my time restraints, I refuse to spend time and effort with wanna-be’s. I only align myself with passionate people committed to winning.

The third and fi nal reason for me being selective is my reputation. I can’t write ads like this and make such incredible guarantees unless I can bring the results. My reputation is beyond solid.

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Going UpWhat’s an Elevator Speech and Why Do You Need One, Part 1

PattiWoodsts fos ls ms sf fi s


You’re standing at the luggage carrousel at the airport waiting for your baggage. When you grab your bag, the person next

to you notices your bag tag has your auto dealership’s name on it and he asks if you work there. You’re able to give him your short “elevator” speech and intrigue him enough that he asks for your card and you get his. Later that month you sell him a car. A three-sentence “speech” has led to a great sale. Are you well prepared for your elevator-speech opportunity?

What is an elevator speech?The classic “elevator speech” is essentially a standard mini-speech to give to people you meet in chance encounters. You craft the speech in advance, to answer the questions “Who are you, and what do you or your company do?” If you are giving the elevator speech inside your dealership or to someone in the auto industry, this prepared material can give you the opportunity to “update”

someone on your achievements. An elevator speech is also used as a way to network for mutual gain. Should you have the chance to talk to a stranger or an important person by happenstance, you have something to say to them that states the benefi ts of hiring you or using your company, or if they already know what you do, the benefi ts of considering you for other opportunities. It’s also important to listen in an elevator encounter so you can support and assist the person you are talking to with their goals.

The funky name “elevator speech” comes from two sources. One source is the salesmen’s tradition that you need to have something ready to say when you have a chance encounter with someone in some nontraditional business setting, like an elevator. The other source for the name is the short length of the elevator ride and the short time you may have to get your objective across. Though it’s called an “elevator speech,” it’s a conversation that can take place anywhere with anyone, from a seatmate on a plane to the person next to you

at a banquet to the guy in front of you in the grocery line. It’s a way of taking advantage of those encounters.

Ideally, the elevator speech is a few sentences that lead to a meaningful conversation. There is no need to go into your resume points, your company’s mission statement or a rapid-fi re delivery of your last 15 business successes. Leave the listener curious and asking for more information, not bored or running away. Why the heck do you prepare for one? The elevator speech prepares you to respond to any question or opportunity concerning what you and/or your company have done and can do. If you’re thinking, “I don’t need to give an elevator speech; I’m not sales,” know that elevator speeches serve multiple purposes. It is not just about getting business. Meeting people casually inside or outside your dealership can help you introduce yourself and establish a relationship with someone who can support and mentor you. It can aid

continued on page 42

The Value ofa Loyal Customer

DavidJohnsonsts fos ls ms sf fi s


Harvard Business School published that a loyal pizza eater will generate on average $8,000 in their lifetime to the local pizza joint.

The loyal car shopper is estimated to be worth $332,000. If what Joe Girard (who sold 174 retail units in one month) said is true and each person does have a sphere of infl uence of 250 people, then one customer can possibly be worth $83,000,000 (yes, that’s million), assuming you are able to make a loyal customer of his entire sphere. Does that number sound too high to be true? Actually, if you take into account that each of those 250 people in your original customer’s sphere also has a sphere of their own, then that number would be too low.

Do I believe that I will get that from each customer? Of course not, but that’s not the point. The point is that, if done properly, you can create loyalty in a customer that will create wealth for you and your dealership. So how do you create the type of loyalty in a customer that will keep them not only coming back to see you but sending business to you, as well?

By creating positive experiences for the customer before, during and after the sale, and by proactively going above and beyond from what even the customer expects, loyalty is formed.

It has been conventional wisdom that if you satisfy a customer, you create loyalty. That’s just not right. It’s part of making a customer loyal, but that in itself is just a small piece of a much larger, tastier pie. To create loyalty, you must form a relationship with each and every customer, and afterwards sales and referrals will come your way. Relationship building takes time and can never be done during the one and only visit they made to your dealership to buy that new Mustang, which was only the beginning. How you follow up after the sale is how you are able to cultivate your relationship with that customer.

So why go through the trouble of creating a follow-up program that builds a relationship instead of just asking for referrals right up

front? If you build it (the relationship) they will come (referrals). Sounds too simple, doesn’t it? It is. Here is a list of a few things to remember during your follow-up to help build that relationship.

• Be reliable: do what you say you are going to do.

• Be professional and friendly.• Be easily reachable. Give out all of your

contact information to each customer and call your customers back.

• Show interest in what your customer does and send them referrals.

• Create rapport with your customer during your routine follow-up calls by getting them to talk about themselves.

• Allow genuine friendship to evolve over time.

• Send handwritten notes and remember birthdays and anniversaries.

• Accept responsibility for mistakes and fi x them quickly.

• Commit to excellence.

If you serve the customer, more sales will come. The less you have to wait on lot ups, the easier you will be able to weather the slumps in the car business. You are the CEO; the best way to increase your business is by having your customer help you. The only way that will happen is if you have a compensation plan for your customers, one that pays them in customer service, customer care and servitude. Don’t waste your day by waiting for the next up; use that time to call your customers, send out newsletters and hand-written notes. It’s much easier to ask for referrals after the relationship has had time to develop. Of course, there is a point in the relationship where you don’t have to worry about asking anymore; they just show up at your lot, asking for you. If you need any ideas on how to create loyalty with your customers, just shoot me an e-mail. I would love to hear from you. Happy selling.

David Johnson is the Internet Sales Manager at Orville Beckford Ford Mercury in Milton, Fla. He can be contacted at866.347.2379, or by e-mail at [email protected].

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The Speed of Doing Business

JimAdamssts fos ls ms sf fi s


The retail automotive industry is moving at light speed. Today’s new-car buyer is smarter, better informed and, like

all of us, have less time than ever before. Today’s automotive professional must be a highly trained professional educated with superior product knowledge. He/she must possess excellent communication; follow up, prospecting and selling skills. Now more than ever we must exercise the “Speed of doing business” principal. Doing it right … now.

There is a fundamental difference between “doing it right now” and “doing it right … now.” The key difference is the quality of work performed and the speed in which we do it. Our goal as a professional is to make sure that the essential selling steps are completed in a timely fashion to ensure that the process has little to no wasted time and energy for yourself and the customer. Here are a few steps to make sure that your customer has a great buying experience and that they are handled in a timely manner:

1. Evaluate your process. Take a look at the keys to a great sales process. A great greeting is essential. When you are up, be up. Customer contact is the fi rst impression. Make sure you are dressed for success, clean shaven and are mentally and physically prepared to greet the customer. A fi rm handshake, a warm smile and a welcome word starts you on the road to the sale. Letting the customer wander around on the lot for fi ve minutes also creates a fi rst impression - one that says, “These guys are not very interested in me.” Next, we must begin to build rapport.

Joe Verde teaches that they must like you before they’ll listen, listen before they’ll believe and believe before they’ll buy. First, they have to like you! Look at the customer, make eye contact and really listen. We must build rapport before we can begin the fact-fi nding step of the sale. During the fact-fi nding step we must fi nd out who the vehicle is for, how many people are in the family, what the primary use will be and more. Taking the time to truly investigate the customer’s wants and needs will actually speed up the sales process by matching the customer with the right vehicle. Once the vehicle is selected, if you have to go into the dealership to get keys, MOVE WITH A PURPOSE! Run into the dealership to get the keys and return to the lot quickly. The customer loves to see that a sales person is going above and beyond to serve them. Secondly, the less time that the customer spends alone at the dealership the better. Once the vehicle is pulled from the row and opened up, the sales person should begin a well-rehearsed product demonstration and walk-around presentation based on the customer’s wants and needs, which includes a great pre-planned demonstration drive. A customer should not go on an unaccompanied demo ride. An unaccompanied demo drive will not allow you to demonstrate the features, build rapport and ask closing questions and actually slows the process down. Remember the speed of doing business does not mean short cutting the process; it means eliminating unnecessary time in the true sales process.

2. Paperwork. A sales person can spend

an hour and a half to two hours to reach an agreement with a customer and then all of the sudden the customer has to leave in 20 minutes. Professional sales people must learn how to control the sales process and make sure your customer has a clear understanding of the time that it will take to complete the transaction. Remember, once a deal is secure at the desk, your customer’s clock starts ticking. MOVE WITH A PURPOSE. If you want to make sure that your deal is expedited through the business offi ce, make sure the following is complete:

• Make sure the credit applications are complete and signed. Many lenders require references and previous employment information. In some cases applications can not even be submitted without this information. Take a little extra time to review the credit application and it will speed up the process.

• Insure that you have the VIN and exact mileage on the unit you are selling and on the trade in. If anything slows down the process, it’s watching the F&I process come to a grinding stop while the sales person has to return to the lot to verify information that should have been complete before the deal was turned into the business offi ce.

• Make sure that you have copies of driver’s license and insurance cards, the trade payoff and address and any other requirements before the deal is turned in for approval.

3. Management and F&I. Your sales person worked hard on this deal to get it to this point. They deserve your undivided attention. There is nothing that you could possibly be doing more important than taking care of the customer that is sitting in your showroom.

Not short cutting the process only speeds up the process. Evaluate your time that you spend with every customer and make sure that you are not wasting any of their time or yours. The speed of doing business means doing it right and doing it now.

Jim Adams is the general manager at Roper Kia in Joplin, MO. He can be contacted at 800.905.0627, or by e-mail at [email protected].


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Investing the Fundamentals

TimShea

In the April issue, we introduced Five Critical Success Factors for subprime auto. Those fundamentals included:

1. Dedicated subprime department / personnel

2. Proper lender relationships3. Appropriate inventory4. Effi cient business systems5. Marketing

This month we will investigate the fi rst of those fundamentals, having a department or personnel dedicated to subprime and the proper process for handling those customers.

Your dealership should have a dedicated subprime department or personnel. What that will look like will vary from dealership to dealership depending upon a number of factors including: training, maturity of your sales force, the percentage of subprime sales to total sales and more. In dealerships with large subprime volume, the subprime effort may involve the entire sales and fi nance staff. In other dealerships, it may be as simple as one individual working with a dedicated number of sales reps. What does not vary is that these customers should be handled through a different sales process than prime customers. For most dealerships, that will mean having a separate department or dedicated staff to handle subprime.

Let’s fi rst consider the market surrounding your dealership and why you should even focus on these fundamentals. Within a 30-mile radius of most dealerships, an analysis of credit scores shows that approximately 50 percent of the individuals have credit scores of 640 or less. Simply put, the market share is too large and profi table for most dealerships to ignore. Because of the dispersion of credit

scores today, practically every dealership is to some degree in the subprime business.

Ask yourself these questions. Are you “re-actively” or “pro-actively” pursuing subprime business and how are you handling those customers? Re-active business comes from lot traffi c. For most dealerships, a signifi cant percentage of their lot traffi c is subprime. Being pro-active means that you advertise for or pursue subprime customers. The challenge faced by many dealerships who only re-actively or minimally pursue subprime customers is how to tailor the way they handle those customers.

Properly sold, subprime business is handled completely backwards from your prime business and should be separated from it.

Our normal habit in the sales process is to meet, greet, ask discovery questions, engage our prospects in a product decision and then discuss price and fi nancing. If those prospects happen to fall in the half of our population that is “prime” we have acted correctly. If, however, they fall in that percentage of business that is “subprime,” we have not. (see fi gure below)

Two primary advantages are gained when we follow this procedure. First, our closing ratio with subprime prospects explodes. Landing subprime prospects on “fi nance appropriate” vehicles fi rst will improve your delivery ratio instantly.

sts fos ls ms sfs fi s

special fi nance solution

A second advantage gained from working our prospects fi rst through the credit process and then engaging in “fi nance appropriate” product decisions is that gross profi t will increase.

To excel in subprime sales necessitates working your prospects “backwards” through the sales cycle: meet, greet, discovery and credit. Credit and the customer’s capacity to repay a loan will determine a payment call which translates to “fi nance appropriate” product decisions. For most sales teams, it’s diffi cult to move effectively from “forward” to “backward” selling. This reason, along with the desire to improve the closing ratio and maximize gross profi ts, is why most dealerships benefi t from having a separate department or dedicated staff handling subprime customers. Each team can then commit to and focus on their specifi c selling style.

Remember these fundamentals are building blocks. Perfecting these basics will help your team excel in Subprime sales. E-mail me and I’ll send a checklist of 49.5 Best Practices to SUPERCHARGE your Subprime Sales & Profi ts.

Tim Shea is the president of Great Direct Concepts. He can be contacted at866.853.0223, or by e-mail [email protected].


24 25

fs feature solutionKevinMurphy

Mr. Ed, the special fi nance department of Earnhardt’s - a six-store, eight-franchise car dealership in Arizona - closes 8,000 subprime deals a year. Kevin Murphy, one of the leaders of Mr. Ed, says they never even get in touch with 50 percent of their Internet leads.

Dealerships should only pay for the leads that are sent over and not advertising costs. Therefore, all advertising dollars are spent on actual customers. Leads should be exclusive to the dealership and come with a complete credit application that has been fi ltered to ensure the highest quality possible.

In 1992, Earnhardts’ had three stores doing special fi nance and closed an average of 15 deals per month, relying on walk-ins and handling the deals through the primary department. Brothers Kevin and Terry Murphy recognized the need to make a change - to shake everything up and create a totally new special fi nance department. “Subprime required a whole new invention from primary,” Kevin said. “To be effective, we needed a whole new dynamic.”

Beginning with an advertising budget and a new special fi nance department – Mr. Ed – Kevin and Terry treated the new project as a separate business within Earnhardt’s. Beginning with newspaper and television infomercials, within a few months of its inception Mr. Ed did 100 deals per month. Everything changed in 1998, however, with the advent of the Internet.

Working the InternetWorking on the Internet with online leads requires a complete restructuring of communication with customers; whereas it used to be one-on-one in the store, now it is anonymous. Online customers want to protect their anonymity and are very reluctant to come in until they have all the information. They also want all the information instantly, even though it takes

a lot more back-and-forth to answer their questions. It can be diffi cult to control customers when they aren’t standing in the dealership.

A major challenge Mr. Ed ran into was that 40 to 50 percent of online customers would never return e-mails or phone calls, and that wasn’t even counting the leads that were phony or duplicates. “It is a natural fact in this business that 38 percent of any leads will be duplicates or deadends across all lead providers,” Kevin said. “But the leads can still work. Don’t throw the baby out with the bathwater.”

If working Internet leads is so hard, how do Earnhardt’s and other dealerships succeed?✓ Get Online. Mr. Ed began using Internet leads

in 1998, and by 2000 they recorded 7,200 cars sold. Today, with the help of thousands of Internet leads, Mr. Ed closes 8,000 subprime deals a year.

✓ Get Volume. Because more than half the Internet

leads a dealership receives will never result in a conversation with a customer, a dealership must rely on volume. It’s a numbers game.

✓ Get Quality. Mr. Ed currently buys 900-1,350

DriverLoans.com leads per month. They’ve used the same lead source for the past two years and Kevin counts on its “consistently high-volume of leads.” He also cites the competitive price and high quality of the leads, but what really impresses him is the “fantastic customer service” from his source. “If we have any questions or concerns we’re able to get someone on the phone right away,” Kevin said. “There aren’t many problems, but the ones we have are resolved

immediately.” Get a lead provider who is “very dealer-friendly.” Right now, Mr. Ed closes 9.87 percent of these leads, an impressive percentage for the elusive world of online customers.

✓ Get a good computer software program to handle your leads.

With the help of computer effi ciency, Mr. Ed sold just as many cars with 20 percent fewer employees within one year of using the new system. A good computer program can help process Internet customers more effi ciently. “It used to be that if a customer wanted a payment quote over the phone without coming in … it would take over half an hour,” Kevin said. “[Now] it takes 60 seconds.” There are many CRM systems out there; the right one can dramatically help Internet effi ciency.

✓ Diversify. Mr. Ed uses 20 different lead providers

in addition to their own lead generator on their Web site, MrEd.com. Some providers offer very low volume but the cost per sale is good, and others offer high volume, but usually the cost goes up. In addition, Mr. Ed continues to use newspaper ads and television.

✓ Have a special fi nance department. “Subprime,” as Kevin says, “is not

primary.” Not only did Earnhardt’s

develop a separate department, they gave it a new identity, complete with catchy name: Mr. Ed (logo: horseshoe, website: www.MrEd.com) and treated it as another business entirely.

✓ Promote from within. Earnhardt’s philosophy has always been

to hire and promote from within and hire family and friends when possible in order to keep the company a family dealership. Those who didn’t begin as family stayed with the dealership so long that “they become family,” Kevin said. Mr. Ed, in turn, took this philosophy and made it a point to promote within the dealership and train those already within the organization to become subprime experts, rather than hiring outside for subprime experience. This attitude engenders loyalty and retains employees.

✓ Train! To drive home the family experience,

make a real team and turn regular sales people into subprime experts, Mr. Ed employees must go through “Mr. Ed University” where, along with learning how to handle subprime customers, they learn the Mr. Ed Fight Song. Mr. Ed also has a motto: “Semper Calcitranus Gluteus Maximus,” which translates to “Forever Kicking Butt.” Kevin and Terry Murphy’s goal has

been to fi nd “how to develop, internally, skilled individuals in subprime” who could handle all the processes, such as marketing, computer software and follow-ups. They created a process from beginning to end that is used at every Earnhardt’s.

✓ Get a good process – and persevere!

C o m b i n i n g high-volume, good-quality leads with a good computer s o f t w a r e program and departmental processes is the key to making online subprime effi cient. Mr. Ed relies on e-mail auto responders. They start with a basic auto response and follow up with a custom e-mail, as well as a phone call. After seven days of calling and e-mailing a customer, Mr. Ed employees turn it over to technology and let e-mail follow up from there. According to Kevin, it takes very little time if you have an effi cient system to fi nd out which customers aren’t going to respond to your efforts. His recommendation? “Have a good, solid CRM system, work it hard for a week and then put it on an auto responder and let it go.”

Even though Internet leads can be diffi cult

Moving Customers From the Internet to Your ShowroomHow Modern Consumer’s Helped Special Finance Leader Earnhardt Do Just That

to work with at fi rst, they are an essential part of special fi nance. With today’s online customer, understanding online leads can expand your special fi nance sales beyond what newspaper and television advertising can generate. Mr. Ed’s success has shown that working with high-quality, high-volume leads has the potential to expand your subprime sales beyond expectations.

Kevin Murphy is the special fi nance director at Mr. Ed - Earnhardt Auto Group. He can be contacted at866.407.8398, or by e-mail [email protected] Jaureguy conducts client services at Modern Consumer LLC. She can be contacted at 866.449.0488, or by e-mail [email protected].

Earnhardt’s Gilbert Dodge, Inc., left, and Earnhardt Ford Sales, Inc., above, have used programs specializing in subprime sales and Internet lead genera-tion to become leaders in their industry.

Five Keys to Selling 100 Extra Cars a MonthFordDirect Internet Dealer of the Year Shares Best Practices

BryanHopkins

At Ted Britt Ford, we attribute our Internet success to the fact that we hold our Internet department to the same

high standards as sales and service. Family owned and operated since 1959, Ted Britt Ford of Fairfax, Va., has been recognized 11 times as a leader in customer satisfaction by Ford Motor Company. We’ve received the “Distinguished Achievement Award” for sound business practices, been recognized in the Washington Metro Area as the top-rated Ford Dealership for service and repair and as the Washington Metro Area’s top-volume Ford Dealer. Ted Britt Ford has been No. 1 for many years in the mid-Atlantic in new Ford Motor Company vehicle sales and most recently, FordDirect awarded our dealership with the FordDirect 2005 Internet Dealer of the Year award at the National Automobile Dealer’s Association Convention and Exposition in Orlando.

Gardner Britt Jr., the dealer principal, said we accomplished this by taking the dealership’s customer spirit into the Internet frontier. “The entire management staff is strong supporters of the Internet and Internet department. You have to, to be successful,” Britt said. Before turning our attention to the Internet we had two people handling all leads and selling 15 to 20 cars per month. Today we’re selling upwards of 115. Once we found the right technology and training partner, we focused our energy on the leads that were coming in, the conversion ratio, the appointment ratio, the show ratio and the closing ratio, and we discovered that the Internet appointments were often mishandled.

Our new Web site, www.TedBritt.com, was generating more leads than ever and we needed to ensure we were living up to the Ted Britt standards of excellence in customer service. Our technology and training partner helped us establish a strategy and process for managing the increase in leads. As a result, we’ve increased Internet sales, closing ratio, customer satisfaction, reduced cost per sale and gained nationwide recognition. In this article I’ve outlined the top fi ve keys to our success.

Keys to SuccessFordDirect recognizes a dealer’s efforts to use the Web and CRM to gain incremental sales. Our goal is simple: Get the lead and help the customer move forward in their purchase decision. Below is a summary of what we’ve learned along the way.

Key One - The TechnologyWe bought an eCommerce and CRM system. The system includes a high-end custom Web site and prospecting/CRM tool that automates a lot of our phone and e-mail follow up activity. This allows us to get more done with less effort and the multi-media buzzmails help us drive traffi c and stay in touch with unsold prospects through targeted bulk e-mail marketing. With just a few clicks we can reach thousands of people with a message that gets attention.

Key Two - MarketingWe’ve dramatically increased traffi c to www.TedBritt.com and to our dealership through

advanced search engine placement and bulk e-mail marketing. We have found that customers rely on traditional advertising today, which is why we have turned our attention to search engine marketing. Our goal is to appear at the top of the list when a customer enters a popular search phrase into Google. We also send thousands of buzzmail campaigns every month that generate measurable traffi c for no additional cost. Our service department and fi nance offi ce do a great job of gathering e-mail addresses and entering them into our database. We can then choose from hundreds of prepackaged campaigns that we can send with a few clicks.

Key Three - Process & AutomationThe best part about our process is that 95 percent of it is automated, thanks to the buzztrak prospect management tool. Our team has more time to set appointments and sell cars. We established a central Internet hub and automated follow up to lighten the load on their Internet sales manager (ISM) and Internet specialists.

Key Four - PeopleFinding and keeping the right people to manage increased inbound phone and Internet leads is a challenge because high turnover is a fact of life in the car business. Our Internet process is well-established, making it easy to plug a new person in and the automation makes it easy for new people to succeed quickly.

Key Five - Measuring Return on InvestmentThe great thing about the Internet is that we track and measure everything. Right now, our closing ratio from our Web site’s coupon leads is 30 percent. If you were a sales person, would you rather deal with those odds or with a walk-in who knows nothing about the dealership? I know what the answer is at our store.

Bryan Hopkins is the Internet director at Ted Britt Ford. He can be contacted at 866.842.1968, or by e-mail [email protected].


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How leasing benefi ts the customer: • A lower monthly payment• A safer, more

reliable car all the time, and not just when the car is new• A car under warranty with fewer repair bills• Investing cash elsewhere instead of tying it up in a depreciating asset • Sales tax only on the monthly payment instead of the whole car (this may vary depending on state)• Owing nothing at lease end with the option to buy your car at a wholesale price• Excess miles are cheap to buy on a lease (10 cents per mile up front) compared to the depreciation on your fi nanced car (more like 25 cents per mile).• Gap insurance is free from most manufacturers. If a leased car is totaled in a

theft or accident, there’s no risk of owing the bank more than the insurance proceeds.• Great way to put an end to being upside down in the loan. Instead of rolling negative equity over into a new loan, nothing is owed at lease end.

Why leasing benefi ts you as a sales person:• Shortens the trade cycle - The average Subaru customer, for instance, owns his/her car for seven years. The typical lease term is half that, so you sell twice the number of cars.• Increases urgency - At lease end, a customer can’t postpone making a decision about a new car because the old one is going away.• Simplifi es negotiation - It’s a lot easier to fi t a payment into a customer’s budget than to dicker back and forth over the selling price.

Keys to successful lease presentations• Ask this question early in qualifying: “Would you like to look at lease options?” Yes or no doesn’t matter. The important thing is to introduce the lease option early. If the fi rst time they hear about leasing is at the end of closing, after you couldn’t fi t their budget with a fi nance deal, you make leasing look like a desperation move rather than a credible alternative.• Any time you quote fi nance payments, quote the lease with it. Some customers will choose leasing on payment alone!

How to present the leaseThe biggest objection customers have to leasing is that they don’t understand it. People tend to fear and avoid things they don’t understand, especially when they are in an uncomfortable environment (such as a showroom). Your success with leasing will be determined by your ability to explain it in simple terms. Try this:

“Mr. Customer, when you get a $20,000 loan, the bank pays us $20,000 for your car and keeps your title until you pay off the entire $20,000, plus interest. When you lease, the bank also pays us $20,000, and keeps the title. What’s the difference? With a loan, the bank wants back 100 percent of the $20,000, plus interest. With a lease, the bank only wants you to pay back the

difference between $20,000 and the residual. The residual is a forecast of the value of your car after the lease term, and the bank stands behind that forecast.”

See the sample comparison below, between a 60-month loan and a 36-month lease:

Handling The Top-Ten Objections to Leasing 1. With a lease, I don’t own anything. “When you take out a loan, do you get the title? Not until you pay off the whole amount. So you don’t really own it till it’s paid off. A lease is the same way. The bank retains the title and if you want to own the car you just pay off the lease.” 2. With a loan, I own the car at the end. “True. But not much of a car! A fi ve-year-old car with nearly 100k? If the lease saves you $120 a month for the term of a 60-month loan, that’s $7,200! (And that’s assuming you didn’t make some interest on it by investing it or putting it in the bank.) What’s a 100k-mile car worth? Probably not $7,200! So you would have been better off saving money along the way instead of parking it in a depreciating asset.

Loan:

$20,000

$0

Monthly Payment = $420

Lease:

$20,000

$12,000 (residual)

$0

Monthly Payment = $300

Bank collects all $20,000 from you over 60 months plus interest.

Bank collects $8,000 from you over 36 monthsplus interest.


3. It’s better to own than rent. “The reason you should buy a house instead of rent is because the house almost always appreciates. But cars depreciate. Why would you want to own something that’s going down in value?”

4. I can’t trade the car in before lease end. “Actually, you can. After driving your car for 30 months, don’t you think it’s less expensive to get out of a 36-month lease that’s almost up rather than a 60-month loan that’s only half paid?” Approximately 40 percent of people owe more on their loans than their cars are worth - not only do they not have equity, they are actually ‘upside down.’”

5. You seem awfully excited about leasing, Mr. Sales person. What’s in it for you? “Because our lease customers pay less to drive a nicer, safer car that’s under warranty, they are almost always thrilled with their experience here. The margins in auto retail are thin, so we’ve built our business on the volume of repeat and referral business from happy lease customers.”

6. I don’t want a new car every few years. I like to buy new, pay the car off, and then have the car without a payment. “While you may not have a payment in those out years, there are still costs. You’ll be spending more in repairs to keep an older car on the road, older cars use more gas and pollute the environment more, have fewer safety features than modern cars and are more likely to break down and leave you in a dangerous situation.”

7. Do you lease? If yes, “Yes I do, as do most of my colleagues here. And who would know better than the insiders?” If no, “I drive a car that I had before I started here. I’ll defi nitely lease my next one.”

8. I drive too many miles. “Cars depreciate about 25 cents per mile. Yet with a Subaru lease, you can buy additional miles upfront for only 10 cents. At the end, if you go over, they’re only 15 cents. People who put a lot of miles on fi nanced cars usually end up owing more than they are worth - not only do you not own your car, it owns you!”

9. I had a bad experience with a lease because I drove over the miles and I had to write a big check at the end. “If you had fi nanced the car, don’t you think that piling on extra miles would have substantially reduced

the value of the car at trade-in time? Cars depreciate about 25 cents per mile but they only cost 15 cents on a lease if you go over. If you buy them up front, they’re only 10 cents! So if you’re concerned about driving a lot of miles, we’ll build them into the lease for you. Either way, you’re better off putting too many miles on somebody else’s car!”

10. I had a bad experience with a lease because I had to pay for damage at the end. “People who trade in fi nanced cars with

damage have to pay too - because they get less on trade in. You don’t get a bill in the mail for it, but you still pay it. Furthermore, our experience with lease returns is that the inspectors are pretty lenient about minor damage because they want you to get another lease!”

Jeff Morrill is co-owner of Planet Subaru in Hanover, Mass., and Planet Chrysler Jeep in Franklin, Mass. He can be contacted at 866.872.8699, or by e-mail [email protected].

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continued

29june 2006

Don’t Let Profi ts Walk Out the Door

RichardLibin




Every week hundreds of thousands of dollars in potential sales – client leads – walk into car dealerships. The cost to the dealership

of bringing each of these potential clients through the door averages $300 per lead; the cost of watching them walk out the door without making a purchase can be thousands.

Prospects who leave dealerships usually describe their experience as uncomfortable either because the sale is not moving in a positive direction, the sales person is not connecting with them or they are not being shown a car that meets their needs.

Clients want a retail culture that makes car buying a comfortable experience where sales professionals give them quality time. Most prospects walk into a dealership ready to buy a car. The sales person doesn’t have to persuade them to buy; he/she just needs to fi nd a car with the features they want and a price

they can afford. Car buyers rate the helpful attitude of the sales person as one of the major reasons why they buy their car. None talked about being sold a car by the efforts of a persuasive sales person, but rather they described how a sales person guided them to a buying experience.

When this happens, sales and Total Vehicle Gross TVG increase, and satisfi ed clients make referrals and return for additional services and accessories.

Creating a client-centric environment involves an ongoing process comprised of training, evaluating, coaching and retraining. It cannot be accomplished by allocating a lump sum for a one-time, quick-fi x solution.

The fi rst step is to identify the goals. Client-centric dealerships help their clients choose three things:

1. The dealership – The goal is to make the client glad they came and eager to purchase

from you now and over time.

2. The vehicle – With this, the goal is to guide clients and help them build an emotional tie to the car that meets their needs, wants and desires; only then talk price.

3. The Selection Specialist – Here, the goal is to ensure the client gets quality time, “The Red Carpet Treatment.” The Selection Specialist must connect, listen, learn and lead the sale in an inviting and comfortable manner and avoid confrontation at all costs.

Next, a training program must be developed and delivered to each and every employee, from the management team to the greeter, payroll clerk, service manager and technician. It should encompass every detail required to meet the goals from changing the vernacular to the sales process and the follow-up.

Consider the impact word choices have on attitudes. Instead of using “ups” (a direction, not a human being) or “customer” (an individual who makes a single purchase and leaves) train your professionals to think of potential buyers as clients, guests with whom they should foster a long-term relationship. While you are at it, re-characterize their jobs as “selection specialists,” specifi cally trained to help each individual satisfy their automotive wants, needs and desires.

Training should teach employees to use a well-structured and clearly defi ned sales process. When this happens, clients have an entirely different experience. Imagine this:

• The greeter welcomes the guest saying, “Welcome to APB Motors. My name is Susan.” Susan collects the guest’s name and introduces them to a selection specialist. (This is where management begins monitoring the process to support the sales specialist on a continuous basis.)

• The selection specialist says, “I’m glad you are here; my job is to help you select a car and get you a price, fair enough?”

• From there, the selection specialist communicates with the client – connects with them in a manner of speaking – listens and learns what the guest needs, wants and desires. He/she then quickly identifi es a model that fi ts those needs. The selection specialist scans the driver’s license before he or she creates the Demo Drive. Throughout the drive the selection specialist guides the guest

IMN Loyalty Driver is a complete e-marketing servicethat has been proven by nationally-recognized dealers to:

• Capture and convert “be back” prospects into sales.

• Instantly connect sales staff with “ready-to-test-drive” prospects.

• Increase loyalty by maintaining regular contactwith current customers.

Start your program today: contact our auto sales groupat [email protected] or call 866.964.6397, ext. 214.

866-964-6397 imnLoyaltyDriver.com

> Scott Haynes, Penske Chevrolet and Honda

“Our first Loyalty Driver™

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Client:Job #:Date:Rev:

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Date:

as they experience the features that will satisfy their wants and desires, and builds an emotional bond with the car at the same time.

• Upon returning, they visit the service department where the guest receives a thank-you gift. After selecting the vehicle from inventory that meets the client’s needs, wants and desires, they move to the showroom to close the deal.

• Price is the last point of discussion, raised only after the guest feels at home and has built an emotional bond with the car, dealership and the selection specialist. This process results in more closed sales, higher TVG and more satisfi ed long-term clients.

For this to work, management must keep the training and education program going on a continuous basis using both internal and external resources. For a minimum of 30 days after the initial training, managers record everything that should have been changed based on the newly-defi ned process.

Once adjustments in the process are fi nalized, the team should be provided with individual coaching, practice, evaluation and retraining, as well as clearly communicated expectations and goals. After another 30 days, managers should evaluate the management information report and repeat the process where needed. This should be complemented by a quarterly update and reviewed to ensure behavior changes and a new client-centric culture begins to become ingrained in the dealership. Simplifying and Supporting the ProcessA dealership should defi ne its structure and business processes fi rst, identify and adopt the technology that supports them and then thoroughly train and educate every employee on its use. When this happens, every employee will have both the access and the ability to leverage systems to improve performance. In addition, managers will be able to retrieve the data they need to measure and analyze successes and failures, and make informed decisions about adjusting business, sales and training processes to maximize the successes. The right technology with the right training becomes an integral part of a client-centric environment. Technology provides an assist in understanding clearly what happens on a day-to-day basis in the dealership, tracking client status, easing the follow up process and providing accountability across the board.

If a dealership has a plethora of CRM systems in place the fi rst step is to identify the one or, at the most, two systems that best support the business structure and standardize on these systems. These solutions must interact and

work seamlessly together in order to become effective, strategic “members of the team.” Once this is accomplished, training is the next step. Professional training and education must be provided for every employee.

Where’s the money in today’s market? It comes into your dealership every day. The key is not to let it walk away by creating a client-centric culture through continuous training and education. When viewed as a priority with budget as a percent of sales allocated to

the required resources, this process will pay back exponentially in increased sales, TVG and lifelong client relationships.

Richard F. Libin is president of Automotive Profi t Builders, Inc.. He can be contacted at 866.450.6853, or by e-mail [email protected].

continued

31june 2006


Scott’s Individualized Consultation Transcripts

ScottJosephsts fos ls ms sf fi s

marketing solution

John (real name omitted to protect the store’s identity) is the owner of a Chevrolet dealership on the east coast. His customer

satisfaction scores are above average, but his sales are fl at.

His television ads were bringing in some business, but weren’t conveying the uniqueness and high quality his store has to offer. They were also using direct mail, but felt the list contained a lot of “deadwood.”

In this consultation, I gave John a wide range of innovative ways to approach prospects, showed him how to resell existing customers, and told him how to word a compelling message to convert his “deadwood” into live buyers.

If you want to reach more prospects or convey a stronger and more compelling message, read this transcript!

Scott: I did a little research on your store, but give me a little background real quick.

John: I bought the dealership a couple of years ago. In the fi rst year alone sales doubled. Since then, sales have fl attened out. We average 115 new and 79 used vehicles per month.

S: Is it making money?

J: Yes, it is. We’re doing fi ne.

S: It looks like you really enjoy what you’re doing.

J: We like to take care of our customer. We want them to enjoy the experience of buying a car here. That’s what our whole idea is.

S: How many people would you presume in the radius of your store, 50 miles or so, would be prospects? Would there be 10,000?

J: That’s a good question. Our newspaper circulation is over one million. As far as real prospects we would probably want to talk to around 50,000 people.

S: You’ve got a marketing budget of $50,000 per month right now?

J: Yes.

S: How is it currently being allocated?

J: About half goes to television. We spend about $12,000 in the paper, $10,000 on direct mail and the rest goes to local used-car magazines.

S: Who do you mail to?

J: We use a credit score list most of the time and our own list about twice a year.

S: When you mail to these lists, what happens?

J: We get a decent response with our own list. The credit list results are going downhill. I think that’s one of the main reasons sales have fl attened out. We’re having trouble growing at the same rate we did in our fi rst year.

S: When you say decent response with your own list, what do you mean? How many do you mail to and how many actually respond and buy?

J: We usually mail to our whole list, which is just over 8,500 people. We usually get over one percent that actually comes in and our closing percentage is 22 percent.

S: So, for a $10,000 expenditure, you get something in the vicinity of 85 people who will walk in the store and about 19 people end up buying?

J: Well, I make sure we follow up with everyone that doesn’t buy, as well. Usually within a week we end up selling an additional fi ve to six cars.

S: What do you usually gross on each vehicle?

J: During a sale like this we’ll average right at $2,100 a deal front and back. Usually we pick up anywhere from $40,000 to $50,000.

S: So, of 100 percent of your current business, how much comes from your past customers and prospects?

J: I don’t know. I’ve never really looked at that.

S: Is it safe to say you want to bring in new people who will buy from you again and again?

J: Right. I want to bring in new people.

S: Do you segment your previous customer list according to what they’ve purchased, when they purchased, monthly payment and/or what is most important to them when they buy?

J: No, we do not. I’m sure we have some of that info because I know we keep the car they bought on fi le, but we don’t use it.

S: If you know somebody has a certain model car, what their monthly payment is and that their term is about to expire, it would be interesting to send them a letter saying, “John, I hope you’re still thoroughly enjoying the Corvette you bought from us. I’m writing today to tell you that starting on…, and running for…, ABC Chevrolet is trying something rather unusual. We’re going to have a special sale solely on Corvettes. It made sense to me

– because I know how much you enjoyed the Corvette when you drove it off the lot three years ago – that perhaps you’re ready now to consider another one so you experience that feeling again. If you are, this would be a wonderful time to get the exact Corvette of your choice at a substantial discount and with no money down.” Try that.

J: Interesting!

S: Do you see how a message like that is completely customized to the individual? I mention his car and when he bought it. If you knew that down payment was the most important factor to him when buying, then you could tie in the down-payment offer or any other offer he indicated was critical to his purchase decisions. This goes way beyond just personalizing a letter. See what I’m saying?

J: Sure do! Would you suggest only mailing to people who have bought here before?

S: You’re not a previous customer of mine. Did you read the material I asked my people to send you?

J: Yes.

S: Did it register with you?

J: There were lots of good things.

S: The one thing I hope that I can teach you in the context of this consultation is that you let your marketplace tell you what the best approach would be by picking a lot of suppositions and conservatively dividing your customers into test groups or cells. Try one approach to 1,500 and another approach to another 1,500. Then analyze which approaches are the most profi table and go forward. Perpetuate those that work and reject or stop the ones that don’t. I can tell you what to test and give you suppositions, but the only vote that is really important is whether the market embraces it.

J: One of the problems I have right now is that we’re going out to about 8,000 people when we target the credit score lists and our results aren’t nearly what they used to be. We used to get close to one percent, but now we’re lucky if we get over a half percent. The point is that this list is getting more and more expensive to…

Over the next several months the rest of this private consultation will be printed. If you would like it in its entirety now please e-mail Scott Joseph at the e-mail below.

Scott Joseph is the president of J&L Marketing, Inc. He can be contacted at 866.429.6846, or by e-mail [email protected]

DavidJacobsonsts fos ls ms sf fi s


What is the most important word in sales? Without a doubt, empathy, for without it, you have nothing.

Why is this so important? Extending empathy connects you to the customer in a way that words cannot describe. Empathy is the bond.

Consider this example: It’s your fi rst time sky diving and you are about to jump out of an airplane. Which scenario would make you feel more comfortable and at ease?

The instructor says to you, “This is easy, just do it. It’s not a big deal.”

Or

The instructor says to you, “Oh, I remember my fi rst time. I was so nervous, but the rush I experienced helped me overcome my fear. Just be in the moment and trust in my experience to keep us safe.”

Your customer needs to hear reassurance. Can you learn to identify the magnitude of their situation? Are you able to make them feel you appreciate their concerns and they’re not alone in feeling that way? Reassure them that you are there to walk them through the steps safely.

Empathy is used throughout the sale. It is most important when trying to land a customer on an exact product. Many sales are lost at this point. A sales person asks the customer, “What type of car are you considering?” The customer says, “I haven’t really thought about what type of car. I just know that I need to replace mine.”

Typical response by a sales person: “Two doors or four doors? Stick or automatic?”

This does not address their true initial concern – you.

Try this: “Yes, I know how confusing it can be with all the choices available today. Why

don’t we fi gure out what is important to you and then we can fi gure out which direction to go. Fair enough?”

You reassured them that it’s all right to be unsure, and that you’re willing to spend the time to help them through the steps.

Empathy versus sympathyIt is truly amazing what is accomplished by changing your sales approach from pitching and qualifying to mentoring, consulting and advocating. The challenge is that most sales people are uncomfortable in this role and it is portrayed as such to the customer. The vicious cycle continues.

Empathy is not sympathy. You do not want to alienate the customer by making them feel bad. Empathy is only effective when it is from the heart. You can use it when needed and still be sincere. Let’s say a customer is shopping for a car and they seem distant and unemotional. Most sales people do not know how to handle this type of

The 7 Commandmentsof Selling, Part 1


customer. The customer can be perceived as uninterested to the untrained eye. Stop selling and respond in a gentle manner.

For example, ask a customer: “How have you found the experience of shopping for a car?”

More than likely in one way or another they will say that it’s horrible and they can’t wait for it to end.

Your rejoinder:“Yes, I’ve heard that in the past from some customers. It starts off fun and becomes a burden. Is this how you feel?”

They will usually elaborate and give you an example of their experience. This is good. Although sales people do not want to hear it, this builds the bond and gives you an idea of what turns them off. No matter what stage in the selling process you are in, empathy works its magic. If a customer cannot commit during your close, explain that you understand how diffi cult it is to make such choices. This will allow you to go through the steps of summarizing the reasons this is the deal for them, without engaging their force fi eld. Even if a customer cannot decide on a color or whether to use your fi nancing, empathy has an effect.

Practice using empathy by role-playing. As sales people, we are so geared towards selling that we do not hear some of the elements that are key to the sale. Empathizing with emotions opens opportunities for building a strong and trusting relationship. Being real is a good thing. Don’t be afraid to ask personal questions. Empathy is like a warm blanket for the ego. People will share emotions, provided they feel comfortable.

Make a friend before you insultRoger had fi ve years experience in auto sales and considered himself a professional. His grosses, however, were considerably lower than some of the other sales people.

His grosses were low because he wasn’t asking for higher ones. When he was asked to try and quote all of his customers at list price, he replied that his customers were too intelligent to pay list and he would insult them. With skepticism, he agreed.

When Roger’s fi rst customer sat down at his desk, he quoted list price on a new Buick. The customer stood up and walked out on him.

“You see what happens when you quote list price? He walked out on me,” he said, to

which we asked him what he did prior to quoting the price. “The customer was looking for the specifi c car and asked for my price. I gave it to him and he left.”

It’s true that quoting list price can be perceived as an insult, especially to an educated buyer who has been shopping around. So what do we do? Discount every car, every time? Try to prejudge who will pay list and who won’t?

First of all, you do not have to make excuses for asking list price for a car. That is the manufacturer’s suggested retail price. Getting a discount should be an exception to the rule.

Roger tried something different next time: he stopped selling and forgot the car and the price – he talked to the customer about themselves; how they heard about the dealership and what they enjoyed doing when not shopping for a car.

When Roger met his next customer, for the fi rst three minutes, he engaged in good conversation with the customer. It just so happened that the customer was a bartender. This was a very good bond, since Roger owned a restaurant prior to working in the auto business. And, when Roger reported on their conversation, he was given the list price for the car his customer was interested in, to which he went back and quoted it. The customer then said, “Come on Roger, I found the car at another dealership for $1,300 less. You can do better than that.” What goals were achieved?

Roger now knew where his customer had shopped, the price he was quoted, and that his customer really wanted the car. Since they had established a bond, the customer not only stayed, but also told him every objection up front. Plus, they were on a fi rst name basis. He made a friend before he insulted the customer. The results speak for themselves.

Once you’ve established a relationship, you’ve earned the right to guide a customer through the sale. Whether a customer is angry or scared, making a friend enables you to control the sale. If you told a stranger in the street that you didn’t really like what they were wearing, what would be their response? What would be the response if you shared the same comment with a friend?

David Jacobson is the founder and president of GrooveCar Inc. He can be contacted at 866.663.9038, or by e-mail at [email protected].

35june 2006

Higher Response Rates and More LeadsFool-proof Advertising With Vanity Numbers

LauraNoonansts fos ls ms sf fi s

marketing solution

Vanity phone numbers, like 1-800-FLOWERS, are proven to pull more responses and generate more leads when used in advertising. In fact,

many business owners experience at least a 30 percent increase in ad response, and some are doubling and tripling their responses. They attribute success like this to using a vanity phone number in all forms of advertising, like broadcast, print and outdoor.

Ron Henson, general manager of an auto dealership in Utah, saw results with his number. He increased his call volume 650 percent, which enabled his sales team to move more units off the lot. He compares the number of units sold in November 2005 to previous years and attributes the up-tick to more phone-ups coming into his dealership. “We are shattering previous sales records by 50 percent, and I attribute this success to our new advertising, which prominently features a vanity 800 number,” Henson said.

Follow the advice below to make sure you use a vanity 800 number as effectively as possible to maximize the power of your advertising budget, increase lead generation and get results like Henson.

1. Lather, Rinse and Repeat.We all read the back of shampoo bottles and laugh at the obvious instructions to “lather, rinse and repeat.” But this is great advice, when you think of it in other contexts — ones that may not be so obvious. For example, make sure you feature a vanity phone number in all advertising. And, when you are using your vanity number in broadcast be sure to repeat the number at least three times — in the beginning, the middle and as the last bit of information to fi nish off the commercial.

For example, “Call 800-NEW-CARS today for more information on in-stock new

and used vehicles. We have hundreds of affordable models in all shapes and sizes. Call Jim’s Dealership today at 800-NEW-CARS for a car quote that you can afford. Call 800-NEW-CARS today.”

2. Say It Loud and Proud.Put your phone number on everything from business cards to company cars. Hire troops to scream it out from the top of the tallest building. Seriously, make sure people know how to contact you. Use it in all of your advertising. Radio, print, television, billboards, collateral materials, even on your Web site for local searches. Think big, branding, billboards or moving billboards. Using your vanity number on all marketing materials and in all advertising campaigns delivers consistent messaging and ensures that the number will pull more leads and sales.

3. Say it in a Song.Everyone loves a good jingle, and the songs have been proven to stick with people forever. Take Folgers: “The best part of waking up is Folgers in your cup.” Using jingles in radio and television ads has been hugely successful for businesses in food, packaged goods and even the automotive industry. They create an emotional connection with consumers. And they can last for years and years (as long as they are not too cheesy or annoying). The cost of creating one jingle has huge payoff if you use it to brand your business, run it in all broadcast ads and increase your leads and sales. 4. More is More.Make sure you give your advertising campaign and direct response tool a chance. Run a moderate to heavy ad schedule. If it is a radio ad, be sure to run it on several stations that target your audience and run the ads at least several times a week on each station. The same goes for television and print. We all have a better chance of remembering a phone number if we hear it several times a

day. The more impressions you provide, the better the retention rate by your audience.

5. Brand, brand, brand.When you activate a vanity 800 phone number, be sure to get one that ties into your product or service. A car dealer who uses 1-800-NEW-CARS is stating the obvious, but we need that as consumers. It enhances the brand, the ad message and the opportunity to be remembered by your target audience. If you are selling real estate services 1-800-NEXT-HOME is a clear indication of what you have to offer. As a matter of fact, apart from your company name, a strong call to action and a branding vanity phone number, you do not need to include much else in your ad. That will avoid clutter and the chance of overwhelming consumers with too much information.

Finally, test it and track it. Create two separate ads using the same creative elements, just switch up a toll-free phone number for a vanity 800 number in one of the ads. Then track the response you get from each ad. It has been proven that people will remember a vanity phone number (one that spells something, like 1-800-PICK-UPS) in a radio ad 14 times more than they will remember a numeric number. So you will be able to test ad campaigns and specifi c media channels to fi nd out which ones in your local media/advertising market are best for your success.

When using a phone number as a direct-response tool there is no question that true vanity 800 phone numbers are the easiest to remember and produce higher response rates.

Laura Noonan is vice president of marketing for 800response. She can be contacted at 866.388.1397, or by e-mail at [email protected].


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A Hidden Cash Asset -Your Customer’s Future

Credit Card Sales

GlennGoldman

“Cash is King” – how often have you heard that saying? But in the world of small businesses, cash fl ow is the real King.

Most businesses will need a cash infusion at some point, to modernize, to open new locations, to purchase equipment or to provide continuing education options to employees.

If traditional funding sources fail to provide businesses with a viable fi nancing solution, there is another option. Most businesses can obtain the money needed to complete critical growth-driven or business-sustaining transactions by tapping into a little-known “hidden asset” – their future credit card sales.

A Viable Option. Often referred to as “credit card receivable funding” or “merchant cash advances,” this type of funding is similar to factoring, but based around an event that has yet to happen – a future credit card sale. A body shop owner, for example, sells a fi xed amount of future credit card sales to a purchaser (i.e. a funding provider) at a discount in exchange for cash today, typically as much as $150,000 per location. The business owner then delivers the future receivables it sold via its credit card processor. Each day the location is open for business, its processor delivers a percentage of its credit card sales to the funding provider until it has delivered the total amount of receivables sold.

Because this kind of “factoring” arrangement involves a purchase and sale of future credit card receivables, it is not a loan product. So there is no interest rate, no set repayment term and no monthly check to write. Other benefi ts of this arrangement include:

High Approval Rates: Companies that provide merchant cash advances can approve businesses that banks decline and usually value businesses like automotive dealers, auto parts retail outlets and automotive repair shops.

Ease: The application is often less complicated and has fewer documentation requirements than those for traditional funding products.

Speed: Providers of merchant cash advances can make approval decisions quickly, often making working capital available in less than

14 working days. If the business is already using one of the company’s approved credit card processors that time can easily be reduced to 72 hours.

Flexibility: Most traditional small business loans require a fi xed payment every month, without regard to cash fl ow. A reputable merchant cash advance provider collects a fi xed versus variable portion of the receivables it has purchased only when the business processes credit card transactions. That means, it gets paid when the merchant gets paid. If sales are seasonally trending downward, so does the amount remitted, helping the business manage its cash fl ow without additional stress to the business.

Fees: Reputable merchant cash advance providers rarely impose charges like application or expedite fees. Because these companies receive a specifi ed percentage of each credit card batch and not a fi xed monthly payment, there are no prepayment penalties or late fees.

Facts to consider before recommending this product:Collection Period: Your merchant cash advance provider will collect the receivables it purchased over a much shorter time period than most loans or leases – generally within one year. For some businesses, this shorter cycle is not feasible. Others prefer this timeframe because it ensures that an outstanding obligation is handled quickly.

Use of Proceeds: Most merchant cash advance providers are interested in providing capital to help their customers grow and enhance their businesses. They will emphasize in their underwriting a use of proceeds consistent with that goal. This funding should be used to help businesses manage unexpected expenses, take advantage of business development opportunities and strengthen their business – not sit in a “rainy day” fund.

Provider Reputation: Because this funding is relatively specialized, using an established provider with a proven track record is important. Ask how many total customers they have served, the total dollar volume of funding provided, available funding capacity and how many businesses have taken multiple fundings.

Glenn Goldman is the CEO of AdvanceMe, Inc. in Atlanta, GA. He can be contacted at 866.281.7593, or by e-mail at [email protected].


leadership solution


The Most ImportantDecision of Your Life

MarkTewart

On November 19, 2005, a day after having surgery, I was diagnosed with squamous cell carcinoma cancer. I

would compare receiving the news to going to the dentist and being numbed. However, this numbed my whole body. For 20 minutes I rushed through all kinds of thoughts and emotions – shock, anger, “why me?” questions, sadness.

After the 20 minutes, I made a big decision. I decided to live. I decided that all of the emotions and thoughts I was experiencing were not supporting me. I decided right then and there to switch my mind and all actions to that of support and complete cure. At that moment, I was cured.

On January 31, 2006 I received my 33rd and fi nal daily radiation treatment. I am now cancer free. I did not need the doctor to declare that for me; I had already made that decision from the day of diagnosis. I had even told my doctor that at my fi rst appointment.

My whole life I have believed in the power of the mind. The ability to create your outer life from thoughts and emotions from within are undeniable. Nothing is as powerful as your personal philosophy in life. The good news

is that your personal philosophy is simply decided by you and your own free will.

In my lifetime, I have been both poor and rich. I have had both sad and happy times. I have lived through tragedies and triumphs. One thing that has never wavered has been my mental approach to whatever has come towards me. Nothing can create wealth and abundance in any segment of a person’s life more than their attitudes and thoughts.

I have seen materially rich people with great poverty of mind and I have seen people in great struggles with an attitude of abundance. Wealth and possessions can fl ee in an instant, but nothing or nobody can take away your mind and your choice of thought.

Whenever friends or relatives would begin to discuss my disease, they would focus on how it was so unfair, especially since I am a lifetime non-smoker. Ninety-nine percent of the particular cancer that I had occurs in heavy smokers. I had to make a decision not to focus on whether it was fair or not and focus on what could be done to move forward.

I made a decision to research my disease. I wanted to be empowered in my decisions. I created a regimented approach that included traditional treatment along with nutrition, supplements, whole body detoxifi cation, exercise, proper rest, mental imaging and prayer. Some of these approaches were never mentioned by traditional medicine practitioners. However, I made the decision to be in charge of my knowledge and my actions.

After witnessing many people going through treatment for cancer and experiencing both my parents passing from the disease as well, I am more convinced than ever that your attitude and power of your mind make a difference in everything you do in life. Your decision about your attitude in life is the most important choice of your life.

Mark Tewart is the president of Tewart Enterprises. He can be contacted at 866.429.6844, or by e-mail [email protected].


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39june 2006


The No. 1 Suzuki Dealership in the Nation is Selling 25-40 Referral Appointments Per Month

GaryLinamsts fos ls ms sf fi s

marketing solution

Before becoming the No. 1 Suzuki dealer in the nation, Driving 2000.com was a used-vehicle operation that

had a respectable following in the Huntsville-Madison, Ala. area. I was very fortunate to have assembled a diverse and motivated sales and management team. We did not have the benefi ts that a franchise store has, but we had talent, motivation and good inventory - many of the ingredients of success.

While we grew, it became obvious that our used-car operation was going to need larger quarters. A local Acura dealer had built a beautiful dealership on “Car Row,” and had left it a short time later, not being able to handle the overhead. The lot was huge, and the building spacious and beautiful. My wife, Beverly, and I decided it was the home of our

future dream dealership, and we moved. It became imperative from day one that we get customers in, period. The thought of failure never crossed our minds, even though we had moved from a small location to what was like a palace to us.

As we looked to fi ll the place up with people and cars, our advertising budget skyrocketed. We were getting people in, and their response to our product and salespeople was tremendous. It became obvious to me that referral sales could give us a critical edge in our retail numbers. That is when we started using our referral software program. The “Online Bird Dog Club” allows sales people to sign customers up for the program, and shows them the graduated pay/commission scale. Our software keeps track of how many referrals each customer, or “bird dog,” sends to the dealership, as well as creates

and maintains a database so we can see the referral sales progress month by month. In addition, it also provides a means of building a data bank of home and e-mail addresses, which is valuable for batch e-mails, mailings and other ways of staying in touch.

Using this program, we were able to offer each and every one of our customers to be a sales representative for our company. We fi nally had an organized way for the sales people to train each of their customers, along with a great pay scale to give them incentive send lots of referrals. During the year, customers receive $100 for their fi rst referral, $150 for their fourth, $200 for their seventh and $250 for their 10th and every one thereafter. We also had a way for the sales people to track who their “top dogs” were, and learn to stay in touch with those people. The program has been effective; many “bird dogs” send in between 10 and 30 referrals, with the top customer sending 41 referrals in one year.

More than 90 percent of our customers were signing up for our referral club. We were building a database of hundreds of customers that were signing up with their sales person, committing to send in additional business. The customers could see clearly that we would reward them, and increase their bonuses with every sold referral they send in. Our sales people were having a blast, selling 15 to 20 cars a month - and then we got the Suzuki franchise. Sales exploded.

Everything clicked at once. We started selling new Suzukis, our referral club was fi rmly established for our sales staff, and within 22 months, we were at the top of monthly, then yearly, Suzuki sales. Our referral sales now are 25-40 retail units a month, we have the top six Suzuki sales people in the nation, and we are fi rmly planted in the No. 1 spot for national Suzuki sales.

Gary Linam is the general manager and president of Suzuki of Huntsville, Ala. He can be contacted at 866.406.6493, or bye-mail at [email protected].

you in letting people outside your normal circle know what you can do. It can help you get an appointment with someone who is “ungettable” through normal gatekeeping channels. It may help you get feedback or advice that would be diffi cult to get through formal connections. Outside your dealership, introducing yourself and having an elevator conversation can provide you with PR, help you fi nd out what customers want and network with powerful people, as well as bring the fi nancial success of good rainmaking.

Preparing and practicing the speech not only can affect your opportunities, but your personal credibility as well as the reputation of your dealership. Or, it can simply get you through those awkward social interactions so you know what to say when someone asks you what you do. You may be thinking, “Speaking is not my favorite thing to do and I don’t want to sound canned.” Remember, though we are calling this an “elevator speech,” the goal really is to have a good conversation.

How much should you say? Imagine that the person you talk to is holding a remote control with a mute button, and you can get the idea of how long you typically have to

capture their attention. With that in mind, for a brief meeting in a public setting, you need an eight-second speech, about three sentences long, ready to go for a short “three fl oors” of travel. You also want a 30-second to two-minute “going up in the Empire State Building” version of your speech at the ready for longer interactions such as plane rides, dinners and parties.

Should you memorize it? You don’t need to memorize your elevator speech word for word - in fact, that may make it sound insincere. Know what you want to say and rehearse different responses so that you can be confi dent enough to deliver the appropriate response with gusto and make it spontaneous enough to navigate any changes in the moment.

The fi rst two steps in preparing your “Elevator Speech”Who is your target audience? Where might you meet them? Are you likely to meet prospects? Do you want to network with other successful people in the auto business? Are you looking for potential employees or new vendors? By writing out your target audience, you can begin to think about how to customize your message for them. For example, I know I am looking for clients, so my best audience is typically a business traveler I might run into at the airport or in

a hotel, or standing in a line at a restaurant or copy shop. Knowing that, I know how to craft my speech for that particular audience.

What is your goal?What do you want to accomplish? Do you want people to recognize the brand of your company’s name? Do you want them to see your kind of car or dealership as the best of the best? Do you want them to know where you are located? Do you want to fi sh for a business lead or push further for a sale? Do you merely want a good response to the question, “What do you do?” Now that you know the value of a good elevator speech and you have answered these questions, you are ready for next month’s article on “How to draw a stranger into a conversation,” and the fi nal article on “How to write and deliver an elevator speech.” Until next time, notice all the opportunities you have in your life to meet people and have a great elevator conversation.

Patti Wood is the president of Communication Dynamics. She can be contacted at 800.849.3651, or by e-mail at [email protected].

continued from page 18


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