Why 1st Pencil Desking?
When developing 1stPencil, we noticed a couple of common threads throughout the industry.
- Salesperson turnover impacts overall Dealership closing ability
- Their best profit opportunity was usually during the first visit
- First visit closing rates in most Dealerships were less than 20%
- Most “first visit” Customers that didn’t buy bought elsewhere
- Salespeople didn’t do a good job on follow-up
- Business Development Centers were expensive to staff
- Real BDC returns were difficult to track
The solution: Sell more Customers
on the first visit.
That way, your Salespeople won’t have to struggle with process of trying to get their Customers back into the Dealership. Your Salespeople can now focus on Customer satisfaction and referrals.
We’re not saying don’t follow-up, but if some of the things we outlined above sound familiar to you and may be happening in your Dealership then the obvious next question should be “How can we do that?”
First of all, the process many Dealers have used since the beginning to sell cars puts the Customer and the Salesperson in an adversarial position.
This typically involved old-style selling methods that started with the questions: “Where do you want your Payments?” and “How much did you want to put Down?” and then ultimately ended with a “4-Square” presentation which is designed to be confrontational and puts the Dealership at risk since it does not include legally required disclosures.
Many Salespeople are literally intimidated by the process of presenting numbers since this is where the relationship, they had built, with the Customer up to that point could change. We all know that when the Salesperson doesn’t have confidence in the numbers the likelihood of a sale decreases dramatically.
1st Pencil provides a fresh approach to selling cars and presenting numbers. We help you teach your Salespeople not to ask the questions that will ultimately undermine the sale at the negotiation stage.
The 1st Pencil software helps you instantly create a Customer-Friendly presentation that helps you get off of price and onto Payment and Down Payment which are the motivating factors in most Car buying decisions.
Finally the presentation helps the Salesperson explain the relationship between Payment and Down Payment and helps the Salesperson get additional Down Payment because of a simple stair-stepped approach. Putting this presentation in the hands of the Salesperson has a huge impact on their confidence.
The 1st Pencil approach will help you Sell the Customer the first time.
The 1st Pencil Selling Process
If the Salesperson stumbles during the process of initially presenting numbers to the Customer the likelihood of a positive outcome decreases dramatically.
The 1st Pencil presentation provides a “Confidence Tool” for the Salespeople since it provides a simple, non-threatening way for them to start the Deal.
The 1st Pencil presentations focus on Payment and Down Payment rather than Price. Payment and Down Payment are typically the driving factors in the buying decision and presenting them in the right way can dramatically impact Gross Profits.
Dealers tell us that in many cases the Customer simply circles the Payment or Down Payment combination they want, and Price is not an issue.
The presentation provides an easy way for the Salespeople to introduce the concept of additional Down Payment.
This not only reduces Monthly Payments it also increases the quality of the paper you send to your finance providers.
The 1st Pencil presentations help increase Down Payments since they provide an easy way for the Salesperson to introduce the benefits.
The presentations help the Customer understand the impact of Down Payment and the relationship it has on Monthly Payments.
Because the 1st Pencil presentations are interactive and non-confrontational, they reduce the stress that can occur during the negotiation process. The ultimate result is happier Customers, more referrals and higher CSI ratings.
1st Pencil software utilizes a web-based, secure database that allows the Dealer to access the solution from any computer with an internet connection.
This eliminates the need for complex network configurations and allows multiple Managers and authorized Salespeople to share access.
The beauty of this process is that it works just as well with one-price operations as it does with Dealerships that utilize a negotiated price process.
The 1st Pencil software is designed to handle either a single Dealership or an Enterprise consisting of multiple Dealerships. The software is easily configured to provide access as either a user or administrator to either specified Dealerships or all of the Dealerships in the Enterprise.
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