E-NEWSLETTER – January 2011
This Month’s Selling Principle:
Calling The Lease End Prospect
Prospecting is usually one of the topics that come up in our one day advanced sales workshops. And although I consider prospecting to be a basic selling skill, unfortunately, it usually isn’t until well into our car selling careers that any of us decide to do any regular disciplined systematic prospecting. And most of us never stick with it because as a rule the benefits, that is additional sales, can be initially slow to come.
The exception to this rule, however, is calling the lease end prospect. Not only are the additional sales quicker to come by (most prospects are near the end of their trading cycle and know it), and most are still highly credit qualified, but also brand and dealer loyalty is statistically highest with lease customers.
So, this month I want to simply share with you our phone script for getting face to face with a lease end prospect. This word track is plucked directly from our Telephone Selling Skills workshop. It can be used, with minor modification, for a client of our own as well as the orphan customer outlined here. It also has many fall back positions based on what you tell us are the typical responses these prospects give you. Here it is:
Calling The Lease-End Prospect
1) (SMILE, our customer can hear it!)
2) Good Morning! or Hello! or Good afternoon! (Any appropriate salutation.)
3) Mr./Ms. Customer? Did I catch you a good time?
4) This is ________ from A B C Motors. Your account has recently been assigned to me and the reason I’m calling, Mr./Ms. Customer, is that the lease on your _____________ (year, model) is scheduled to end on _________ (lease end date). Are you still enjoying your _____________ (make)?
5) If no, then ask: Oh, then, what are you driving now? (or try to address their problem)
6) If yes, then say: That’s good. We need to schedule a time this week to explore and select the lease end option that’s best for you as well as help you with the lease end inspection of your present vehicle. Will this ______ (day) at ______ (time) work for you?
7) If our prospect says: “It’s not for four months, what’s the rush?”, we say: Most of our clients prefer the transition into their next vehicle to be as smooth as possible. By deciding early, Mr. Customer, you’ll avoid any surprises and you’ll also keep all your lease end options open to you. Will _________ (day) work?
8) If our prospect says: “Can’t we do this over the phone?”, we say: It might be possible, however, to optimize the value of your vehicle the best way to do so is to go over the car together. There are critical differences between what is considered normal wear and tear and excessive wear and tear. Simple things like measuring remaining tire tread or inspection of the windshield could make a significant difference. For example, it may be possible to perform a simple $40 repair of a glass chip instead of a $500 or $600 windshield replacement. We need to go over these things together. So, will ______ (day) work?
9) If our prospect says: “What are my lease end options?”, we say: You have several and they are varied. When we get together, what I’d like to do is put on paper all the different lease end options available to you. That way you can see them for yourself, first hand, side by side. After reviewing them all, you can simply pick the one that’s best for you. Does that make sense? If yes, then say: Will _____ (day) work?
10) Got a pen? Please write my name down. My last name is spelled (slowly) _________. And my first name is ______________. Here’s my number ______________. That’s _________ (day) at __________ (time).
11) See you then and thank you!
If we are unsuccessful at setting a specific appointment with our prospect, we then simply offer our name and contact points should they need our assistance in the future, thank them, and get off the phone so we can move onto the next call. Once they come in, we can assist them through our regular selling process.
Obviously, we need to tailor this talk track to our own vocabulary and personality. We also need to take the time to practice it, role playing it several times before using it with a prospect. But please don’t wait until we have it down perfectly. Sometimes we just need to take action. It’ll get easier and more profitable the more we use it.
So, until next time, be well, do good work, and keep in touch,
Michael D. Hargrove
“I suggest that your presence in the world of form has a grand mission and that you can discover and begin thinking, feeling and behaving in ways consistent with that mission.”
Dr. Wayne W. Dyer
Objection of the Month: “How much discount can I get?”
These are just a few of the most common strategies shared at the workshops we’ve conducted all across North America and attended by thousands of the top sales people in our field. Please keep in mind that nothing works all the time, and no one thing will work for everybody. Each of these strategies, of course, need to be tailored to the individual user, to the specific customer, and the particular situation. Also, this is by no means the definitive work on overcoming this particular objection and it’s not intended to be.
a. “They don’t normally discount this model, by the way, who’s going to drive this car most of the time, you or Mrs. Customer?” (This is simply a version of the Bypass technique.)
b. “I don’t know but we’ll check with the manager in just a moment to find out. My first job is to make sure we find just the right car for your wants and needs. Did you want the four door or the coupe?”
c. “I know discounts are important. It’s important to me too, Ms. Customer, when I’m the buyer. It’s also important to me when I’m the buyer that I get just the right item I’m looking for. Let’s first make sure this is the right truck for you, then we’ll work out the very best figures we can. Does that sound fair?”
d. “Adjusting numbers is the easy part of my job, Ms. Customer. We adjust numbers all day long. What I can’t adjust, however, is your taste. So, first let’s find just the right car for you and then I’ll show you just how easy it is to do business with us. Now, tell me, were you looking for a 5 speed or an automatic?”
e. “We’ll definitely get to the numbers part of your purchase when we go inside together. While we’re outside, though, let’s make sure you’re not paying for stuff you won’t need or missing stuff you will. Actually, that’ll effect the price too, won’t it?”
f. “I’m sure that we will be able to save you some money, and if for some reason we can’t arrive at a discount amount that’s acceptable to you, then I wouldn’t expect you to do business with us. That’s fair isn’t it?”
g.“Sounds like you’re ready to do business! C’mon in, bring your checkbook and I’ll have you out in this car in about twenty minutes!” (Then we turn and walk towards the showroom. If our customer balks we say:) “You’re right. I am getting ahead of myself aren’t I? Did you want a two door or a four door?”
h. “Exact discount amounts are fluctuating all the time. Once we find your next car, we’ll then be able to find out how much discount the current market will allow us. It’s an easy process. Now, what do you mean when you say ‘fully loaded’?”
Next month’s objection will be: “I don’t have a lot of time.” We need YOUR input! Please forward your ideas on this one, or your suggestions on which objection to cover next, to email@example.com.
“I only play well when I’m prepared. If I don’t practice the way I should, then I won’t play the way I know I can.”
“Keep Your Goals in Sight”
by Author Unknown, A 2nd Helping of Chicken Soup for the Soul
When she looked ahead, Florence Chadwick saw nothing but a solid wall of fog. Her body was numb. She had been swimming for nearly sixteen hours.
Already she was the first woman to swim the English Channel in both directions. Now, at age 34, her goal was to become the first woman to swim from Catalina Island to the California coast.
On that Fourth of July morning in 1952, the sea was like an ice bath and the fog was so dense she could hardly see her support boats. Sharks cruised toward her lone figure, only to be driven away by rifle shots. Against the frigid grip of the sea, she struggled on – hour after hour – while millions watched on national television.
Alongside Florence in one of the boats, her mother and her trainer offered encouragement. They told her it wasn’t much farther. But all she could see was fog. They urged her not to quit. She never had . . . until then. With only a half mile to go, she asked to be pulled out.
Still thawing her chilled body several hours later, she told a reporter, “Look, I’m not excusing myself, but if I could have seen land I might have made it.” It was not fatigue or even the cold water that defeated her. It was the fog. She was unable to see her goal.
Two months later, she tried again. This time, despite the same dense fog, she swam with her faith intact and her goal clearly pictured in her mind. She knew that somewhere behind that fog was land and this time she made it! Florence Chadwick became the first woman to swim the Catalina Channel, eclipsing the men’s record by two hours!
“Simply fix your eyes upon your goal — visualize it with every ounce of your being; enjoy the prospect of it — and courageously set out toward it.”
Upcoming Public Events:
Retail Automobile Sales: The Professional’s One Day Workshop
“No matter how many times I attend Michael Hargrove’s seminars, I come away with more than I came with. Not only more knowledge and skills but with more sense of purpose and reasons to lead a more productive and meaningful life.”
David C. Coquillette, Salesman – Mercedes Benz of Fresno
“What a joy to spend a day with a man so willing to share his vast store of knowledge and insight. This seminar helps fill in the blanks which provide me with a continuity of process unavailable anywhere else. Thank you and God bless.”
Greg Belemjian, Sales – Fresno Lexus
“I love going to Michael’s workshop each year because I’m always reminded of a ball I’ve not had my eye on, a ball I’ve dropped and need to pick back up again (& continue to juggle). Way more than a refresher course, something new is taught and learned every year!”
John Yager, Internet Manager – Honda North
Date(s): February 8th & 9th, 2011
Location: Piccadilly Inn Fresno University
4961 North Cedar
Fresno, CA 93726
Date(s): March 22nd & 23rd, 2011
Location: Owyhee Plaza Hotel
1109 Main Street
Boise, ID 83702
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