Tag: used car sales

To buy or not to buy…

Posted on | by Tom Hampton Agency

April showers bring may flowers, but this year’s February freezes brought us auction squeezes! We are seeing prices are far above normal tax-time hikes, with no signs of tapering off. Playing the usual Price Game is the surest way to the poor house in our current market!

 

How are the new car dealerships holding on to high mileage trades and still getting their money for those units? Trust, transparency, and a supply-and-demand mentality! With less inventory on hand, we know that that means every unit we already have needs to get adjusted for retail. Time to re-appraise all your current inventory and start looking at replacement cost / availability.

Trust and Transparency are a symbiotic relationship. The more transparent you become in all your processes and procedures; the more trust is built along the way. Make sure your website is easy to navigate and all your policies and procedures are outlined in detail. Finance options/information should be easy to understand and access and make darn sure it is all secure!

There has been so much success in providing customers with an online credit application. Financing and an approved loan amount first, vehicle second, then delivery in minutes (not hours!) Knowledge of one’s financial abilities in any type of purchase is empowering and removes a lot of fear from the entire process! For us, it removes having to show them 20 different cars, only to find out 3 hours later, they can’t even afford the porters ’98 hooptie!

Find your technique to symbiotically build Trust and Transparency in today’s marketplace and on your website. Remember my friends. Without us, the independent used car dealer – most Americans would be walking! The better you serve your prospects, the greater your client base becomes.

Create-A-Great-Day

Tom

Getting through the slow season: Evaluating our basic operations.

Posted on | by Tom Hampton Agency

This is a shiny new year; It will be what we make of it! Poor sales are rooted in poor foundational business practices. To ensure that our dealerships have constant sales, …10, 20, 30+ units every month… then these 3 paragons of business must be done to perfection. Shall we roll up our sleeves and go to work? 

 

The foundation of any business…Communication.  
Communication, on all levels, must be concise, honest, diligent, and thoughtful in their nature. Give the client what they asked for, after you have listened thoroughly to determine you understand what they need. Provide your customers with plenty of pictures, finance requirements, options for test drive arrangements, and any other information frequently requested by customers. It is vital to get back with them in a timely manner. Try setting calendar reminders for yourself along the way or finding a good phone app by searching “Appointment Reminders.” 

 

Transparency is not just an industry buzz word. It is the future and YOUR present. 
As most business struggle to implement transparency in their operations, for us as dealers, it is very simple. We tell folks what needs to happen, what is going to happen, and hopefully entice their input during the process. Many dealerships are still suffering because they are not transparent. Ask yourself these questions when measuring your company’s transparency: 

 

Is there plenty of access to information?  

Is your website easy to navigate and intuitive?  

Are your company’s core values represented clearly?  

Is your company consistent across all platforms?  

Do you actively engage with customers & employees to encourage  feedback? 

 

The bottom line, transparency makes the buying process easier, less frightening, and much faster! 

 

TRUST, the biggie! 
Just how, my friends, do we convey trust? To start, community is a very crucial key! What your clients say about you, your inventory, your policies/practices, and how you respond when things go sideways, is where the magic happens (or doesn’t). No business is perfect. We all get the occasional black eye on social media or reviews from an unhappy customer. How we deal with those mistakes, (even when they are not our fault) is being closely watched by all those looking to do business with us! Your customer service practices are the quickest way to ensure trust and loyalty in this business (Or any for that matter!).  

 

Communication, Transparency, and Trust: Done well, equals opportunities; More opportunities, naturally more growth! As always, we are here and can assist you in the future growth of your business. Drop us an email, shoot us a text, or just pick up the phone and call to set up a consultation! 

 

Create-A-Great-Day, 

Tom Hampton 

 

Join our Dealer Group on Facebook or send us a friend request! https://www.facebook.com/groups/950701648698454 
We regularly post industry updates & reminders, growth opportunities, and promotions! For a complete list of our services, please visit us at www.TomHamptonAgency.com  

TCPA Violations can cost you BIG!

Posted on | by Tom Hampton Agency

By Tom Hampton

TRUE fact, 95% of texts are read in 90 seconds or less after you send it. Texting is unquestionably an integral tool to engage consumers in 2020, HOWEVER, it is not without extensive legal and regulatory risks.

In order to survive and thrive, businesses must be mindful and play by the rules set forth by the Telephone Consumer Protection Act, known as the TCPA founded in 1991. Car dealerships directly put their business at legal and financial risk each time they text, be it to correspond with a lead, with a customer, for collections, or sending inventory pics…the list goes on! TCPA penalties START at $500 and can go up to $1500 per text sent.

Example:

A customer submits a complaint that 5 texts were sent to without their permission. At a minimum, fees will start at $2,500, likely much more, as well as setting the way to a full investigation looking for compliance violations, often adding more fines.

How can the average dealer keep track of all the texts sent by the entire team, on top of the 5,000 other things they are currently doing? The solution is very simple and so cost effective it is scary! For less than one average auction fee and no long-term contracts, you are covered-7-ways-to-Sunday, 24/7/365.

Just like having a DMS to keep all your paperwork records and compliance, this is also a tool to keep your texting compliant! Did I mention that with this service, you see it all! No more guessing what your employees are texting to prospects, customers, or account holders! No more getting blind-sided by customers who say…’your salesman told me if I did this…. then y’all would do that for me!’

SOLUTIONS are what we do at Car Guys Agency. Effective, affordable solutions for your dealership. Give me a call or visit www.carguysagency.com

5 Effective Ways to Get More out of Your Website

Posted on | by Tom Hampton Agency
Blue Grey Photo Fitness Blog Graphic

By Tom Hampton             

November is upon us my friends! And shortly, so will be the end of 2020. Can anyone honestly say they will be sorry to see the year go? Actually, I can. 2020 has been the BEST year we have seen in the car business for almost 100 years! The playing field got leveled. Not only did the game change, but so did the rules we used to play by!  

Customers have raised the bar on us at least 10 times in just 7 short months. Test drives became delivered, financing went remote, texting and emails going ballistic overnight. The retailers of the world had to re-invent almost every process in their business to survive and start to grow again as the term in-person became obsolete.  

Which brings us to the topic at hand: Your website. Let’s explore 5 foundational tools your website should offer consumers to be truly impressive!  

1. Ease of navigation 

You do not have to spend a lot of money to have a website that navigates easily. Think about why customers are on your site. What are they looking to learn? They want to see specific vehicles and prices, finance options, reviews, and what steps they need to start the process. Can your customer easily contact you with questions? Each area should be easily identified and navigated to easily! This goes double for your mobile platform, especially as research shows nearly 60% of shoppers are on their devices.  

2. Clear/concise information 

It is really important that your customer can get all the facts from the information you present on your website. Are your photos accurate, good quality, and loading quickly? Is there a condition report posted with each vehicle? Eighty percent of consumers research a product online before purchasing. Providing your customers with both quantity and quality sources of information to make an informed purchase will give your website the advantage over your competitors. It can also really helpful to add a chat box to your website for customer who have questions and want immediate answers from available staff.  

3. Your values 

The values you and your team bring to the used car industry support the vision of your company.  Why should a stranger buy from you? What makes your company stand out? Let your customers know who you and your team are by including short bios, corporate goals and credos, and a commitment to providing an honest, satisfactory experience. Make sure there is a page for feedback from customers. This not only lets your customer feel heard, but also helps you improve the buying experience for future customers.  

4. Easy/Secure access to financing with payment calculator 

The major point to be made here is your customer must become a part of the process and not the subject. Your financing process should be clear, easy to follow, and the steps and required documentation listed. If you aren’t doing your own financing, let your customer know who you do use, with information about their process.   

Consumers nowadays want information about pricing and payments before they take the next step of speaking with a salesman. If you are using WordPress, search for a simple payment calculator plugin to add to your site, so customers can get an idea of what they will be paying.  

5. Transparency  

Transparency boils down to one underlying point…trust. In 2018, The Transparency Imperative Report found that 75% of consumers are more likely to switch to a brand that provided more in-depth product information. The same truth applies today, both to the vehicles you sell and the experience you and your team deliver.  

To conclude, invest the time for a thorough website evaluation. Remember that what you perceive as a value, may not impress your patrons. It is good practice to ask other team members and friends to also evaluate your site periodically and provide feedback of their thoughts and experience. If you are interested in taking your website to the next level, contact us for more information on Auto-Pilot Advertising!  

Create-A-Great-Future…only you can! 

Tom Hampton 

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The Basics

Posted on | by Tom Hampton Agency | 1 Comment on The Basics

There will always be plenty of companies contacting you professing solutions AND profits…and all you need to do, is use THEIR program/process/formula/app, for a nominal fee…. of course!  

My emails (multiple accts), Facebook, and LinkedIn accounts are flooded daily!  

“Do this and you’ll be rich in hours!”   

“Use our system and NEVER fail again”   

…yeah, yeah, yeah! Same rhetoric, different set of words from all the so-called experts.  

Please understand, that I am the first to say money spent to improve yourself and your business are solid investments in your journey to financial success and business stability; I have spent thousands educating myself! Be cautious, however. Financial investments will never return unrealistic and/or extraordinary results with little to no effort. If something promises it will, it is a scam. Change and improvement comes from continuously working at it and staying committed to achieving daily goals.  

Let’s start at the beginning and brush up on the basics! I have found these 4 fundamentals to be the cornerstone to every successful business or venture.  

  1.  Communication  

Communication is one of those things that can make or break your business. I have experienced all types of people and businesses that are not aware that real communication skills are centered around the way the other person learns; Visually, Auditorily, Kinesthetically, or by Reading/Writing. Through my investment in Neuro-Linguistic Programming training, I have learned to how to spot different cues that tell me which learning style a person most likely uses to communicate. For example, if a person’s eyes move up when you ask them a thinking question, they are visual learners and need to see the information I am presenting.  

  1. Listening  

If your customer does not feel like you are hearing them, you might miss out. What I often see happening is people listening only long enough to respond. I like to call it talking at one another. They spot (and often assume) the problem, then immediately supply a solution. After all, providing our customers with solutions IS what we are here for! By not having great listening skills, you could be missing important information that will help you completely understand what your customer wants.   

  1. Customer Service 

With great listening skills, comes GREAT customer service! Providing your customer with a top-notch experience cultivates loyal (and referring) customers. Going back to my Neuro-Linguistic Programming training, by also learning to switch communication style to match the person being engaged, conversation flows naturally, the customers’ needs are all being met, and rapport follows!  

  1. Providing Quality Products 

Being the best you is only the foundation to a great business. At the end of the day, all of that is only as good as the product/service you are providing to your customer. I also suggest investing the time to ensuring your team is well trained and knowledgeable of the products you are selling.  

These four basics of business are paramount for growth to occur. My best advice is to invest in yourself first. The rest will follow. When the time is right, reach out to us and we can get you started on your road to success. For a limited time, I am offering a FREE 30-Minute Kickstart Guidance session! Let’s brainstorm!  

Create a Great Day! 
Tom Hampton