The simple word track, “Compared with” will help any Team Member overcome the Clients “too high” price objection.
In most scenarios, when your Team Member presents the initial pricing figures to your Client, the Client will inevitably say that the price is “too high”. A lot of Team Members upon hearing that the price is “too high” will immediately want to “lower” the price.
Instead of instantly “lowering” the price, instruct your Team Member to ask the Client, “the price is too high compared with….???”
The Client may be comparing the price with:
What they paid on a previous transaction.
What they think they can afford.
What the other (same brand) is offering.
What the other (different brand) is offering.
What they previously paid with a higher down payment.
What they previously paid with a lower down payment.
What a lower priced vehicle is offering.
What a higher priced vehicle is offering.
What the internet told them to pay.
What their friends say they should pay.
What they paid for their first house.
The list goes on and on.
The point is, instead of your Team Member immediately wanting to drop the price, “Compared with” lets your Team Member find out exactly why the Client wants to get a lower price. Sometimes it is the only objection a Client may have. It may be only a QUESTION that the Client has and not a REAL objection to the sale.
The Client is always going to simply ask to lower the price. If your Team Member has done a great job of presenting your product and built a lot of value in the product, the objection can be easily overcome.
When your Team Member is quick to lower the price, the Client will believe that there is even more negotiating that can be done. Using the word track, “compared with” will find out what the REAL objection may be. Knowing what the REAL objection is your Team Member and Management can overcome the objection and retain more gross profit!
“Compared with”, a simple yet powerful word track you can teach your Team Members!
About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.
You can follow me on:
My website: www.JimKristoff.com
Twitter: @jimkristoff
WordPress blogsite: http://jimkristoff.wordpress.com/
Blogspot blog: http://jimkristoff.blogspot.com/
DealerElite.net: http://www.dealerelite.net/profile/JimKristoff
Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff
Youtube: www.youtube.com/user/jimkristoff
Love the recent blogs Jim! Very easy to read, easy for sales people to apply and STRONG!
ReplyDelete-Mike