We all know that our industry is irrevocably linked to the new car industry and will FOREVER be subject to “trickle-down”
Two and half years ago the consumer, through social media, brought FIRE to the F&I Departments and our industry felt it in our outside finance sources tightening their belts – We sold less cars and are still recovering from it.
NOW-HEAR-THIS. The next wave of major trickle-down is HERE.
PRICE is dead!!! TRANSPARENCY & VALUE are coming!
Your client knows MORE about your car than you do in most instances. Consumers are now spending upwards of 15 hours of research using the same tools we do. They research reliability, dependability, serviceability, trade values, depreciation, current market values, and a bazillion other things.
Then my friend; they research YOU.
Most of you still cling DESPERATELY to price when ALL your efforts should be in VALUE! Look up Simon Sinek on YouTube. Man has some great things to learn. His concentric circles are one of the BEST I have ever seen to convey and teach what customers REALLY want.
It’s simple folks –
- WHY are you the best person on the planet to buy a used car from?
- HOW MANY people agree!?
What incentive are you enticing buyers with? 90-day warranties don’t cut it. A couple of suggestions,
- Give 1 year free GPS Security Tracking*
- Free oil changes for a year (3k miles= 4 per year)
Look at what you do from the customer’s point of view. Houston area alone has over 4,000 dealers – How do you stand out?
The only thing standing between you and wild success is LIMITED Knowledge and LIMITING Beliefs. Both can be modified. Although knowledge is plentiful, it can be tricky to interpret and implement. As far as Limiting beliefs, MOST simply fade away when YOU choose to do things differently.
Habit and complacency are the top two killers of dealerships that I have ever found over the last 50 years. Now – what are you going to do and what are you going to change? – most importantly WHEN?
Create-a-great-day!
Tom Hampton
*Visit us online to get more information on our selection of GPS Units!
