On the latest episode of CBT Now, we feature Sean Gardner, an esteemed instructor and sales trainer from the Joe Verde Group. Today, Gardner shares his expert insights on handling the persistent “out-the-door price” objection that many salespeople face. Discover how his strategies can shift customer conversations from price-focused to budget-friendly, ultimately driving more successful sales outcomes.
Key Takeaways
1. Customers often ask for the “best out-the-door price,” but what they really want to know is if they can afford the vehicle within their budget. Therefore, Gardner encourages salespeople to probe deeper to uncover true financial concerns rather than just focusing on the total price.
2. Since most customers buy based on monthly payments, not the total price, salespeople should redirect the conversation toward payment affordability. This approach aligns better with how customers evaluate their purchases.
3. To clarify the customer’s true needs, Gardner suggests asking questions like, “Are you planning to pay cash, or are you more concerned about the monthly payments?” This helps shift the conversation from price to budget and opens up more productive negotiation paths.
4. Emphasize negotiating within the customer’s budget rather than just lowering the out-the-door price. This involves exploring various options like higher down payments, longer loan terms, or leases to make the deal fit the customer’s financial situation.
5. Nevertheless, Gardner advocates for a customer-friendly negotiation process focusing on budget rather than price. By presenting solutions that fit within the customer’s budget, salespeople can close deals more effectively and enhance their earning potential.
