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Other Added - Maximize Your Retail Customer Profits
When I was working more than 45 hours a week in a job with a two hour commute each day, the challenge of a new husband, new step children, two beagle dogs and maintaining a home was more than a stretch! Something had to give, and unfortunately I was the one starting to not be able to hold it together!It was a Catch 22 situation. We had an expensive home near the city center with large mortgage costs, which demanded feeding through joint incomes. So we took (what seemed) a gigantic leap of faith and sold the house, buying a less expensive one further into the suburbs. This house i
High-volume businesses can offset these costs in revenue, but for small or client-based businesses, a print advertisement can mean the difference between profit and loss--and not to your business's advantage.Radio or TV advertising is also a popular option for many businesses: for a few hundred dollars, you can buy advertising space in popular programs or between music playlists. Radio and TV advertising has the potential to reach an even wider audience than print advertising, and the increased technological possibilities--music, a good announcer, even short skits or memorable j
1. Build Value
A Purdue University study showed that when the customers perceived value exceeds the
price (meaning that customers feel that they are getting more than they are paying for),
eight out of ten will buy. So where and how do we build value? Look to build value in
each of the three Ps…Product, Place and Person.
PRODUCT
Know your product inside and out. Find the interesting details that customers might not
be aware of. When doing your walk around, don’t just spout off features. Make sure you
tie features to your customers’ hot buttons. Use the phrase (or something like),”And what
that means to you is…” It is best to talk about an average of three features per walkaround
position. It may seem like more is better, but studies show that customers tend to
get overloaded and can have a negative reaction if too many features are presented.
Spend at least 15 minutes a day on boosting your expertise, learning something new
about your product, reading owners manuals and articles about your product, walking the
used car lot, or talking to a mentor in your dealership. Do what it takes to be an “expert.”
PLACE
Ask yourself what sets your dealership apart. “Have we been in business for 40 years?”
“Are we a family business?” “Are we a “no hassle” dealership?” “Do we have more
inventory than our competitors?” In other words, how are we distinct? Once you have
answered that question, make sure your customers know how your dealership is different.
Does your dealership have a mission statement? Do you know what it is? Learn it and
talk about the goals of
For many corporations change management is a time of controversy and chaos and yet it need not be. Is all change management like this? No, those teams that understand change management also understand smooth transitions and they also understand the shadowing of those that are leaving and fostering of those who will be remaining in the division or department.The biggest issues in change management occur with abrupt changes such as a death or a resignation due to a dispute. Often with this there are hard feelings on the way out and that disrupts the communication change and you
A Purdue University study showed that when the customers perceived value exceeds the price (meaning that customers feel that they are getting more than they are paying for), eight out of ten will buy. So where and how do we build value? Look to build value in each of the three Ps…Product, Place and Person.
PRODUCT
Know your product inside and out. Find the interesting details that customers might not
be aware of. When doing your walk around, don’t just spout off features. Make sure you
tie features to your customers’ hot buttons. Use the phrase (or something like),”And what
that means to you is…” It is best to talk about an average of three features per walkaround
position. It may seem like more is better, but studies show that customers tend to
get overloaded and can have a negative reaction if too many features are presented.
Spend at least 15 minutes a day on boosting your expertise, learning something new
about your product, reading owners manuals and articles about your product, walking the
used car lot, or talking to a mentor in your dealership. Do what it takes to be an “expert.”
PLACE
Ask yourself what sets your dealership apart. “Have we been in business for 40 years?”
“Are we a family business?” “Are we a “no hassle” dealership?” “Do we have more
inventory than our competitors?” In other words, how are we distinct? Once you have
answered that question, make sure your customers know how your dealership is different.
Does your dealership have a mission statement? Do you know what it is? Learn it and
talk about the goals of
What a lot of people do not understand is that almost any form of marketing is niche marketing. If you aim at a target audience for your product or service then you are effectively targeting a niche. Most people need to focus on their marketing efforts and choose a proper niche instead of trying to “spread the net” and aim at a bigger audience instead of targeting a smaller niche.When you market towards a target audience you are always going to get more targeted leads which will effectively convert in to targeted buyers. This is why picking a niche and marketing to it effectively
PLACE
Ask yourself what sets your dealership apart. “Have we been in business for 40 years?”
“Are we a family business?” “Are we a “no hassle” dealership?” “Do we have more
inventory than our competitors?” In other words, how are we distinct? Once you have
answered that question, make sure your customers know how your dealership is different.
Does your dealership have a mission statement? Do you know what it is? Learn it and
talk about the goals of
In today’s competitive world, it is important for every organization to market or advertise their products efficiently. It is not possible to reach as many people as possible, in a short span of time, without the help of a medium. Thus, commercials are a platform to connect to innumerable people, with varied tastes and wants. Commercial agencies use different forms of media to promote their clients' businesses or organizations. These include advertisements in magazines, newspapers, radio and TV.These agencies offer a full range of advertising services. They also give advice based
PLACE
Ask yourself what sets your dealership apart. “Have we been in business for 40 years?”
“Are we a family business?” “Are we a “no hassle” dealership?” “Do we have more
inventory than our competitors?” In other words, how are we distinct? Once you have
answered that question, make sure your customers know how your dealership is different.
Does your dealership have a mission statement? Do you know what it is? Learn it and
talk about the goals of
This is the second article in the series: Marketing to make your message stick:In the first article, we discussed promoting your company through branding and message. One of the ways to make your message stick is through the use of the ad specialty item.An ad specialty item needs to be useful, durable, and visible.Useful, because if it isn’t useful, what happens to your item? It goes in the trash.Durable - so it won’t wear out the first time it gets used and end up where? In the trash.
PERSON
The most important element of the three Ps is to build value in doing business with you.
First of all, you are the only thing that you have to offer that they can’t get anywhere else.
Your willingness to go the extra mile, be patient, and be well informed, will help the
customer buy a vehicle, rather than having you “sell them” one. These practices will go a
long way towards setting you apart from your competitors.
The world is changing fast. Make sure you are aware of new technology that will help
you stay connected to your customers.
Check your negative attitude at the door. Your customer is making a decision about you
in the first 90 seconds that they spend with you. Your smile, eye contact, warm
handshake and enthusiastic greeting will prove to them that you are someone that they
want to do business with over and over again.
2. Stay in touch
This is where most sales consultants drop the ball. We are so busy dealing with ups that we
forget that our most valuable and easiest customers are the ones who have already bought
from us. Get a customer management program such as ACT and use it. Call your customers
within 24 hours after the purchase to make sure everything is ok. If there is a problem, move
heaven and earth to fix it immediately.
Write a handwritten thank you note, then check in (with their permission) via a phone call,
email or newsletter at regular intervals. Make that contact personal. Use the information you
learned previously to continue building rapport. Ask how Johnny did in little le
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