> Ok Still need some help..
Ok Still need some help..
Here's a break down of Last month for you guys so you get general idea.
of my contacts)
20 (27% of my contacts)
Total Contacts 72
Phone Ups that came in:
Contacts in Person 30
Phone-ups that Bought:
Closing Ratio of phone ups)
Lot-ups that Bought
08 (40% Closing Ratio of Lot ups)
12 (47% Total Closing Ratio)
Face to Face Contacts: 30
F2F that bought: 12
(40% Closing Ratio)
My Closing Ratio is decent when I have customer in front of me. But I am still failing to convert the mass majority of my contacts to face to face. 72% of my contacts are on the phone yet I only get 19% to come in. Once their in its no problem. Any suggestions? - by jrboyd
of my contacts)
20 (27% of my contacts)
Total Contacts 72
So an UP is a prospect. A LOT UP is someone who visits your dealership cold ... a phone up is someone who calls and then visits is not a LOT UP ... right?
F2F is obviously every LOT UP plus the PHONE UPS who SHOW UP (forgive the pun), correct?
And you feel you have a low conversion rate of PHONE UPS to actual visits or face-to-face (F2F)?
If the above is clear, meaning I got it ...
How are you closing for a F2F on phone ups?
And (and this is missing), how many prospects do you create yourself? In other words, when no one is there, why not try to generate some prospects yourself?
These are the two areas you can improve on. Closing will come with time and application of technique - the better you get the more confidence you will have - snowball effect.
What you need is more closing situations. But you are clearly stating that, which is critical/good.
My guess is you are not closing on interest ... that you give too much information on the phone. And that you never prospect on the phone yourself.
The latter I would do from a CELL, not from the phone at your desk with a deal to make sure that calls get put through even if they see you talking on the cell. So you don't miss a PHONE UP.
The biggest area that sales people miss out on is prospecting. - by Gold Calling
For f2f on phone ups closing I am at 40% delivery. A little higher sold but can't get financed. As for trying to generate leads, most of those fall under phone ups. I'll get some classified as lot ups for ones who get my card at a resteraunt but I'd say 90% fall under phone up cold calling. Not to worried about closing the sale because there I have closed 20 of the 30 that have come in but only able to get 12 of them financed. So I at about 66% closing ratio when it comes to actually getting them submitted to finance. However that number isnt to realistic because the ones with bad credit usually know it and will close at any payment pretty much, they just want to get bought. So realistically I would say that my closing ratio is probably high 50's to low 60's.
I just don't like the fact that 72% of my prospects are phone and I have a 19% chance of getting them in. Especially with the economy slow, and I spend around 60% of my time trying to generate these leads. If market was better with more foot traffic on the lot I would spend most of my time on the lot where I am strongest. Unfortunately not the case. - by jrboyd
... 72% of my prospects are phone and I have a 19% chance of getting them in.
So, this is a little confusing still.
You say you are cold calling to generate prospects. And this results in approximately one in five (19%) actually showing up.
I have to read this differently. I am assuming that one in five of the people you talk to, including those who call the dealership of on their own, are coming in - in other words not just from your own outbound calling but both.
If many of them were calling in of their own volition, showing interest at some level, and you get one in five, that is low - I think you are correct to work on this end of your skill set.
Now - what do you use to close for the face-to-face meeting? What is the actual technique or techniques. We cannot help you increase your close for appointment ratio without knowing this!
In other words, let me and others here assess what you are doing ineffectively. Help you correct it and make it more effective. Because, if I am understanding the situation correctly, there is no doubt in my mind that you can increase your conversion rates. - by Gold Calling
You are understanding it correctly on the 1 in 5 coming in, either from me calling them or them calling in.
As for what I do to close them in F2F, I just use the Sales process, and my closing. I use alot of the psycholgical theories on buyers as well including buyers having a lost pervention mind-set, and reading the 4 personality styles of the consumer. I am usually able to read a customer within the first 3 mins of a conversation, and have a pretty good idea of who I am working with. Basic profiling, so I know how to present each customer.
As for on the phone, I have no problem closing them on an appointment. Standard Either or Closes (Today or tomorrow? Morning or Afternoon) I'd say I can get the customer to commit to an appointment on the phone about 80% of the time, but getting them to show up is where I lose them. - by jrboyd
As for what I do to close them in F2F, I just use the Sales process, and my closing. I use a lot of the psychological theories on buyers as well including buyers having a lost prevention mind-set, and reading the 4 personality styles of the consumer. I am usually able to read a customer within the minutes of beginning our conversation ...
I think we should work on your prospecting skills. This appears to be your best opportunity to close and the same thing is true for most sales people who show decent to good - even excellent - closing skills. It is prospecting that holds them back from setting income records.
As for on the phone, I have no problem closing them on an appointment. Standard Either or Closes (Today or tomorrow? Morning or Afternoon) I'd say I can get the customer to commit to an appointment on the phone about 80% of the time, but getting them to show up is where I lose them.
Verbal commitment is one thing, showing up is another.
The best skill in selling in this phase is called OBLIGATION. It is not understood and perhaps opne of the least commonly applied selling skills, which is odd, as it works very well.
However, there is a catch, you have to be part actor to handle it. In other words, borrowing words from teh late great J. Douglas Edwards; "are you good enough to do this one?"
Edwards prefered to teach closing - not prospecting. Arguably that is why my father became a great training. Because for all but prospecting he used "Douggies" stuff ... nearly verbatum.
Are you interested in l;earning OBLIGATION
? will you be good enough ... are you good enough to pull off advanced skills? I need a serious answer to this question.
Before I go into this, in addition, I want to know more about what happens during your calls. Since most often they call you, I am thinking you are being asked quite a few questions on the phone. Are you often involved in the price question? If so, how do you handle it? What else comes up frequently? - by Gold Calling
Great question jrboyd...........
When my stats were near yours, the boss answered my question with this statement............
'Work to be different than every other person who answers the phone'
It took a bit of thought and closely working with my mentor, although the results were worth the effort.
Hope this helps................. - by PiJiL
New Phone script
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