Some of you may remember using the above as a close back in the day. “Well Mr. Customer, you said this is the exact car you want, the trade value is also what you wanted, and the payment fits your budget. What is there to go home and think about or what are you going to keep looking for?”
I know it worked for me maybe partially out of sheer confusion but often it worked because it’s 100% accurate. I bring this up because our industry probably for the first time ever is all on the same page. Grosses are better than ever, any customer walking in to buy will be paying sticker if not more. And of course, the scariest piece of the puzzle, there is little to no selling that needs to be done; we just need to be the best waiter and take the order correctly.
With all the positives of the industry however, everyone seems to share the same troubles. “I don’t have enough staff to handle phone calls, my internet leads are the highest they’ve ever been, and I am missing deals, we need more inventory, etc.” Inventory will be back, please remember OEM’s want to sell vehicles and soon enough all those complaining about inventory will be complaining about having to take additional allocation they don’t want. This ebb and flow, much like a hot streak in Vegas, will come to an end.
So, why not manage the end control the things we still can? Too many calls or leads to be handled? Hire a Virtual BDC! 9 out of 10 times its more cost effective without all the extras that go with hiring a new employee. Not happy with how your phones are currently being handled by your staff? Don’t dare to ask your managers to coach and train them, they’re busy making money and they’re NOT trainers. Why not invest a couple bucks a month into phone coaching and training NOW? And I don’t want to hear we have no cars to sell and cannot afford it, because all I hear right now is how much money everyone is making.
It’s it easier to spend it when you have it rather than try and “make room in the budget” when you finally decided to look into it once the word “MSRP” becomes offensive again. We are an industry of extreme highs and lows; business is either excellent or terrible. The 2 things I mentioned above are negligible in the larger scheme of things, if you don’t’ know where to start or have additional questions let’s chat!
Remember, an expense is only an expense if there’s no ROI…. Otherwise, it’s an investment. Proper training and ongoing coaching IS an investment.