"Eliminate Pre-Qualifying and watch Your Sales Soar "
 Drive past most dealerships in America and you will likely find a group of salespeople standing there discussing the “positive” qualities of the dealership and waiting for a customer to drive in. Then a customer pulls in and they all scatter because they are driving a one year old vehicle. They must owe more on their trade in than it's worth, right? Even better, the low producers determine the customer's beacon score from fifty yards! Am I exaggerating? Maybe, but all of us have been guilty of pre-qualifying customers. Let's look at three times it happens and some tips for avoiding it.
On the Lot
I think it's probably human nature to want to decide what type of customer it is and whether they can or can't buy. You must learn to fight that tendency because it costs you sales and commissions. How many times in your career have you told another salesperson to go ahead and take that customer only to see them delivering a vehicle a couple of hours later? How much does that hurt?
Here are three things to tell yourself on EVERY customer:
- These people are here to buy a vehicle!
- These people have excellent credit!
- These people own their current vehicle free and clear!
Before you begin to think I am delusional, let me ask you something. If you assumed everyone was there to buy, would you more effectively follow the sales process and show enthusiasm? Will anything about their credit or trade payoff change between now and when you get inside after following the process? Oh, and have you ever put a sale together on someone with poor credit or negative equity? Then quit pre-qualifying and start selling!
When you present the numbers
How many times do you walk to the office to present numbers to the customer thinking: “There's no way they'll pay this”? After all, they've convinced you they can't or won't go over a certain price or payment. If you present the numbers with that attitude, you'll be right!
During the initial sales process there are two sales taking place. You are selling them and they are selling you. If you have done your job and built value in the vehicle, you can confidently present the numbers. After all, what is the worst thing they could say? That's right – no. Realize that no means I don't KNOW enough to make an informed decision. Handle their objection, add value and new information and ask them to buy again.
When you follow up unsold prospects
The third time we pre-qualify is when we do our follow up of people who came in and didn't buy. We start to think through what happened and think that they won't come back. We think we were too far apart to put it together or maybe that they weren't very nice the first time in so why call them back. Then we start to justify and put off the call until we get the “oh you did” phone call. You know, they bought somewhere else.
You have to follow up all unsold prospects to make the most sales. Let's look at a quick example. Let's say that you talk to 12 people in a week. You sell 3 of them leaving 9. If you will call all 9, you'll get about 1/3 rd back in or 3. Of the 3, you should sell 2 because the closing ratio on a be-back is 67%. That means you have 2 extra sales per week or about 8 per month . What impact would that have on your paycheck?
The Bottom Line
The above three examples of pre-qualifying are all costing you money. You can change your work habits by changing your attitude about the customers that are walking in. Sure, you'll get some who can't or won't buy. That's sales! But you will pick up extra sales that will improve your overall income and make it a little easier to take the ones you miss. Look outside, is that a customer? What do you think are they here to buy?
Call me at 877-651-1032 and let me know how you are doing or if you have questions. In the meantime, Good Selling!
Email me at jimmy_atkinson@assurant.com
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