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Make Money Mondays With Sean V. Bradley "Vendors vs Partners"

Posted by Sean V. Bradley on April 29, 2013 at 4:52am


http://www.internetsales20group.com

Make Money Mondays With Sean V. Bradley "Vendors vs Partners"

I just wrote a powerful article for the May issue of AutoSuccess Magazine and explained my opinion of Vendors vs Partners... People, there is a HUGE difference between the two. Watch this video and find out which ones you are working with at your dealership

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Make Money Mondays With Sean V. Bradley - Do You Know The #1 Reason Why People Don't Buy?

Posted by Sean V. Bradley on February 18, 2013 at 9:30am

 

http://www.internetsales20group.com

Make Money Mondays With Sean V. Bradley - Do You Know The #1 Reason Why People Don't Buy?

Nada Says the # 1 Reason why people don't buy a car is because they are LANDED ON THE WRONG Car! Meaning that they were NOT "qualified" properly.

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Do You Have Any Idea How to Make Money in Your Internet Department or BDC? (AutoSuccess Magazine Article)

Posted by Sean V. Bradley on January 17, 2013 at 10:00am

 Do You Have Any Idea How to Make Money in Your Internet Department or BDC?

It is a simple enough question to ask. I am disappointed to have to say that most dealers do not know how to make money in their Internet department or BDC. Some dealers know how to sell cars from their departments, but they don’t know how to build value, which means they cannot make gross on these deals — so they give units away. Even if they are making a little bit of profit, it’s not because of some thought-out strategy, business model or action plan.

If you are reading this article, it means that the world didn’t end. The Mayan calendar had no effect on us. It also means that it is January 2013. 2013. I was selling 110 units online and making gross profits in 1999/2000. If you aren’t crushing it online, it is not because…

  • … of the election. It’s over.
  • … of the economy. People are buying vehicles, and we are having record months.
  • … you can’t make money with Internet prospects. Everyone is an “Internet Prospect” to some degree. More than 90 percent of people go online before they ever step foot in your dealership. If you can make gross on the showroom floor, you have no excuse not to hold gross with Internet or BDC customers.
  • … you don’t have the right manager. If you actually don’t have the right managers, find them.
  • … you don’t have the budget. Make changes with your antiquated marketing and advertising strategy.
  • … you don’t know how or where to even start. Join an Internet Sales 20 Group or hire a consultant — do not settle for mediocrity.

I have a friend who is the dealer principal of a domestic dealership in Chicago. He sells more than 200 units online. He has zero conventional advertising, and his average cost per sale is less than $100 (NADA says average cost per sale is $600 per car). That is how it should be. You should be able to sell more cars, more profitably, more often with Internet sales. I have built hundreds of Internet sales departments all over the country that are ridiculously profitable. It doesn't matter what franchise you have or what region of the country you are in. As long as you set up the business model for your Internet department or BDC the right way, you will make money and lots of it.

Here are some things that you need to make sure you are doing and tracking; if you’re not, you’re probably not making money in your department, or as much money as you should be.

  1. Make sure your average cost per sale with your Internet customers is $200 or less per car. If it’s higher, then that means you have a problem. You either have a problem with your digital marketing or advertising initiatives, or you have a problem with your people not converting the right way. It might be a training or process issue.

 

  1. Make sure that your gestation period is around 20 days, meaning that the average Internet prospect is a 45 to 90 opportunity, but most dealerships’ “average selling ratio” is only seven to 11 days.

Here is how you can check your status. Take your last month’s Internet sales (let’s say you sold 50 “Internet Deals”), then add three additional variables to track: the date the lead came in on, the date the lead closed and the “window period.” Now, go and track that for all 50 Internet sales from last month. Now, I want you to add all 50 Internet sales’ window period, then divide that number by 50. This will give you the “average window period” or “the gestation period.” You want to make sure you are not just selling to the “low hanging fruit.” Think about it: If the average buying cycle for Internet prospects is 45 to 90 days, then why is your average selling ratio to Internet prospects only seven to 11 days? Exactly!

 

  1. Make sure that you are attempting to contact prospects during prime time, which is between 6 and 8 p.m. I am shocked that dealers all over the country close at 6 p.m. or 7 p.m. This is like making it to the Super Bowl and saying “no, thank you,” or making it to the Super Bowl halftime and saying “Thanks, we have had enough; we’ll try to see you next year!” This just doesn't make any sense. Think about it: What do you expect if you keep calling someone’s home number during work hours and they are at work? Exactly — you will not reach them. Now, does it matter if you are calling them for 30 straight days, numerous times a day? No, it won’t. Please remember, its not just about working hard. It is also about working smart.

I can seriously go on and on about this subject, but at the end of the day, it’s about making money. If you are not making money in your Internet department or BDC, or if you have no clue if you are really making money or not, e-mail me or call me ASAP.

Sean V. Bradley is the founder and CEO of Dealer Synergy, a nationally recognized training and consulting company in the automotive industry. He can be contacted at 888-3-SYNERGY, or by e-mail at sean@dealersynergy.com 

 http://www.autosucconline.com 

http://www.internetsales20group.com 

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No Matter How Smart You Are, Your Mistakes Can Make You Look Pretty Stupid - Karen Bradley

Posted by Karen Bradley on November 28, 2012 at 9:59pm

Attention email composers, bloggers and content writers (just about all of us):


I was instantly inspired to write this article after reading an article titled, "Poor Writing Is No Laughing Matter". As a business owner, I can most definitely relate.  I find myself repeatedly reminding my staff that grammar is extremely important and it does in fact matter. Not only is it a direct representation of you, but your entire organization too! Each and every person should take pride in their writing. You may not realize you are being analyzed by your writing skills and grammar, but trust me, you are!
 
I can especially appreciate the part of the article where it stated, "Good grammar is credibility, especially on the internet. In blog posts, on Facebook statuses, in e-mails, and on company websites, your words are all you have. They are a projection of you in your physical absence”.

Here at Dealer Synergy, we teach our clients the importance of the "Science of Communication", which states that there is only a 7 percent communication effectiveness through text and the words we use. I repeat, only 7 percent! Yet, for most dealerships, it is the highest form of communication used and emails are constantly being sent out with poor grammar, shorthand and misspellings. Let's think about this for a second. We expect our customers to trust us with the second largest purchase they will make in their lifetime, yet we can't even press spell check or proofread our work before we send it? We live in an industry where perception is reality. Heck, we live in a world where perception is reality! Don’t let a false perception become an undeserved reality.
 
Here are a few of my personal tips:
  • ALL emails should be created equal. Show respect for the person on the other end of the email (the receiver). I don't care if you are writing an email to your 4 year old child or the President of the United States. Treat them just the same! 
  • Practice good writing and grammar habits, ALWAYS. This includes Facebook, Blog Posts, twitter (as long as you can still remain within the character limit) and even text messages! As we are all aware, it is much easier to develop a bad habit than to break one! 
  • The spell check button is your best friend. You wouldn’t ignore your best friend, would you? We’ve all heard the phrase “you only get one shot at making a great first impression”. What impression are you making on your prospects? Or better yet, what impression are the other people in your organization making on your behalf?
  • Do not use shorthand with your prospects. It may seem like the coolest and latest thing to do, but please do not type "u" instead of "you", "yw" instead of "you’re welcome", or "ttys" instead of "talk to you soon". Or “Mr. Customer, I was hoping to get you the 411 on the car you wanted, but smh, I checked our inventory and it is GFN.” You get the point.
  • Invest the time. I recommend reading through your email 3 times before hitting the send button. Check for both spelling and grammar corrections. Spell check will not identify the difference between to, two and too. They are all spelled correctly, but defined differently. 
  • Read the email out loud. If you stumble on a word or phrase, the reader will too. 
The use of correct grammar, punctuation and spelling pertain to more than just email correspondences with your prospects. Any form of communication visual to the public eye should be examined thoroughly.  This includes, your company website, email templates, Social Media posts, blog posts and even your recruiting initiatives!
 
No one is perfect and not all of us are English majors and professional writers, but if you follow the tips above, you will have the best shot at making the best first impression possible.  We may not be seeking out a Pulitzer Prize, but why can’t we make our prospects feel like we are? 
 
If you would like to hear more on this subject, have comments or questions, please email me at  karen@dealersynergy.com.
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