4 psychological phases customers may experience that can prevent a sale

On the latest episode of Mind Your Own Business, host Jonathan Dawson, founder of Sellchology, discusses the risk some dealers are putting their businesses in right now. The marketplace is going to shift and here are four psychological stages customers may experience.

The first phase is resistance to the price or market. There are customers who are resistant to the limitations of the marketplace. They don’t want to pay the price or compromise on the vehicle you’re offering them.

The second phase is the reluctance to the sale. They’re asking themselves, should I be doing this now?

The third phase is remorse over the purchase. They’re customers who are purchasing cars and are immediately feeling, buyer’s remorse. They buying their car out of reluctantly but also out of scarcity, urgency, and necessity.

The fourth phase, which is the most dangerous of them all, is retaliation. Dawson believes if you’re not fully prepared, and adding massive value, you’re going to have customers retaliate, the next time, they are in the market for a vehicle.

Dealers ask yourself, how are you adding value for your customer? The metric you should be measuring today is the customer experience. How many reviews and customer testimonials are you getting? Today, revenue and sales don’t matter. What matters is how happy was the customer at the end of the sale?

Dawson says to gather your team and map out the customer experience on a timeline and add value. Consider a gift basket or welcome basket for customers who visit your dealership. Give your customers a ‘first class’ experience. Now is the time to roll out the red carpet during the delivery. Out experience your competition, and create a raving fan today.

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