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Michael T Glynn

Michael T Glynn, Editor

   

Reading List

 

Featured Items:  

  • How to Win Friends & Influence People
    How to Win Friends & Influence People
    by Dale Carnegie
  • The Secret
    The Secret
    by Rhonda Byrne
  • Little Red Book of Selling: 12.5 Principles of Sales Greatness
    Little Red Book of Selling: 12.5 Principles of Sales Greatness
    by Jeffrey Gitomer
  • Getting Things Done: The Art of Stress-Free Productivity
    Getting Things Done: The Art of Stress-Free Productivity
    by David Allen
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Automotive Resources
Monday
Apr262010

Make Your Product Presentations Interactive

  People, unlike businesses, purchase cars based on their emotions. They do it because they like the car, want the car, and believe they will enjoy having the car. All of the analytical stuff they do is mere rationalization to make themselves feel good about the 'smartness' of their decision. With this understanding, the goal of any walk-around or product presentation is to produce an emotional connection between your customer and the car you're showing. Some people are very open with their emotions while others barely show them at all, but make no mistake about it - they all buy because of them. People buy when they can picture in their minds an image of themselves driving the car and enjoying its features, and that image makes them feel good. Done. Nobody ever buys because you were able to rattle off more specs than anyone else.

  Walk-arounds and product presentations should be interesting, memorable, and emotionally engaging, not a boring recitation of features and benefits. The objective is not to prove things, but to educate your customers in a captivating way that creates real emotional desire for the vehicle. There are three levels on which you can present features and benefits. You can tell your customers about what some feature does and they will hear it (sort of boring). You can show your customers what some feature does by demonstrating it and your customers will see it (much more interesting). Or you can teach your customers what some feature does by having them do it and your customers will experience it (engaging and memorable). Your customers will give you feedback such as "yeah, I can see what you mean - that really is easy to operate" or "That's a pretty cool feature, I really like that." These types of responses indicate both approval and an emotional buy-in.

  Customers decide to buy when they can easily picture themselves operating the car and that image makes them feel good. Your customer may have a list of criteria that they would like their next vehicle to meet and you should select a vehicle that comes as close as you can to doing this. But once you have picked the car, stop focusing on fulfilling items on a checklist and instead focus on how your your customer feels about different aspects of the vehicle. And the best way to get your customers to start feeling good about the car is for you to make your product presentations an interactive experience for them.

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Thursday
Apr152010

The Hunters And The Trappers

  When it comes to selling cars, there are two kinds of salespeople - the trappers and the hunters. A trapper sets his trap and waits for his prey. Lots of creatures may come and go, but the trapper does not spend any energy pursuing them. Instead, he just waits. He is waiting for the easy prey - the one that comes right to him and takes immediate interest in what is in his trap. The hunter is not so selective about his prey. The hunter does not wait - when he spots his prey he goes after it. The hunter is focused and relentless. Once the chase is on, he pursues his prey with all his energy until he either has it or it escapes.

   The hunter is the prospector - he does not wait for a deal to come to him, he makes it his mission to find the next buyer. The trapper just waits for the next up, hoping one will turn into a real buyer. For the hunter, all of his prospects may not be buyers, but he treats them all like they are. For the trapper, all of his prospects are buyers, but he treats them like they are not. The trapper pre-qualifies. The hunter does not. The trapper is passive. The hunter is aggressive. The trapper has time to complain. The hunter is always on a hunt. Are you a hunter or a trapper? And who sells more cars?

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Monday
Mar152010

6 Phrases That Destroy Trust

  You know, we say things all the time, you know, that can sometimes - you know - include a lot of extra words or phrases that - you know - we don't even even realize that we're saying - you know? Phrases like "you know." People who do this don't realize just how often they do it (constantly!) or sometimes they don't believe they do it at all. Most of the time it's perfectly harmless because these phrases don't mean anything. But not always! Some of these phrases do have meaning, and can damage your sales presentation. They are particularly dangerous for sales because they imply the exact opposite of what is actually being said. The following 6 phrases must be purged from your selling vocabulary forever:

1) "Trust me on this one"

(Gee, up until now I had been trusting you on all of them!)

2) "Truthfully?" said in response to a question

(No, I lie to me! I prefer to be misled... duh??)

3) "To tell you the truth"

(So you haven't been telling me the truth?)

4) "In all honesty"

(What you said before wasn't really honest?)

5) "To be honest with you"

(Were you being dishonest with me up until now?)

6) "I can tell you in good faith"

(You weren't speaking in good faith before?)

  Words are a salesperson's most powerful tool. A professional salesperson is a wordsmith. Our goal is to select the best possible words and phrases to craft a custom presentation for our customer that will maximize their desire for our product and influence them to want to purchase from us. In other words, we should only say stuff that makes them want to buy! But in order to do this, we must first be aware of what we are actually saying.

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Monday
Feb152010

The Partner Close

  When you are selling to a couple, why should you have to do all the closing work yourself? Here is a technique known as the partner close. The partner close is a strategic exit by you during the negotiations, when one of the two parties will convince the other party to buy. This technique must be applied selectively - it is not for all situations. The partner close is useful under the following conditions:

  1. You are selling to a couple.
  2. You have treated both parties equally (addressed both of their needs and wants and had both parties drive).
  3. You are certain you have a solid selection - they both clearly want the car.
  4. You have built good rapport with them - they both like you and trust you.
  5. They have agreed to buy the car today if they are satisfied with the price.
  6. You have already given them a discounted price and they are not buying. Furthermore,
  7. One party seems OK with the numbers and the other party is on the fence or undecided (This is not a good technique if the other party is clearly against the transaction)

  Under these circumstances, you have 2 choices - you can immediately go for an offer (lowering your gross and your paycheck) or you can continue to attempt to close on the discounted price you already gave your customers. This is when you should employ the partner close. Rather than immediately going for an offer, instead, politely excuse yourself, saying to your customers as you leave them, "It's a great deal. Why don't I give you folks a few minutes to discuss this by yourselves... I'll be back in a few minutes."

  In most circumstances, while you are away, the party who is OK with the price will talk the neutral party into doing the deal. When you return and ask them how they made out, more often then not, they will inform you that they have decided to go ahead with the deal (and you didn't have to give up one more penny of gross). Why does this work? Isn't it dangerous to leave your customers alone? Ordinarily you should not leave your customers, but the partner close works because the other party is not against the deal. Remember, they both want the car. And while one person approves of the price, the other person is not against the price - they are merely undecided. There is no strong position against the deal. In fact, not only should you leave them for a short time - it is the only logical thing you can do. If you stay, it will seem as if you are taking the side of the person who is OK with the figures and are ganging up on the other party. Your attempts to convince the other person will just make them defensive and even more reluctant to buy.

  Once a person wants the vehicle but is undecided on the price, there are only 2 reasons for this. Either they are concerned that they cannot afford it or they believe the price may be too high. Your presence does not help either situation. If they believe they cannot afford it, the only possible resolution is a private discussion with their partner about their personal finances. If you do not give them this opportunity while they are in your dealership, then they will certainly not buy today and tell you they need to "think about it" - so they can have a private discussion at home later. This is not to your advantage - better to have the discussion now while they are still fresh with the excitement of just having driven that new car. If the undecided person's concern is that the price may be too high, your willingness to tell them to decide what they want to do and then walk away sends them a very strong message. It implies that this price is both very fair and non-negotiable. This technique gives your customer a great deal of confidence in the price you have given them. In most instances, enough confidence to say "yes."

  What if you return and they do not decide to buy? You are no worse off than you were before.  To seamlessly resume the price negotiations, simply begin a dialogue as follows: "You seemed like you were ready to buy this vehicle and now you're not sure. I thought you liked this car?" (Customer: Oh, we do like the car...) "Well, have I done something to offend you?" (Customer: Oh no, it's not you...) "Is it the price?" (Well, yeah...) You are now exactly where you left off before you attempted the partner close, ready to go for the offer.

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Monday
Dec212009

Happy Holidays for 2009

Wishing everyone a Merry Christmas & Happy Hanukkah this holiday season.

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If you're looking for great gifts for the holidays, you can't go wrong with just about anything written by Brian Tracy, Seth Godin, or Zig Ziglar. Enjoy.