How many opportunities did you present in order to sell units last month? Turns out, most salespeople on the floor just don’t know. Today, Jim Fitzpatrick sits down with President and CEO of PCG Digital Marketing, Glenn Pasch, to find out why knowing your numbers is the key to effective selling.
Some dealers are probably used to reviewing their marketing analytics and asking questions like, “How efficient are our tactics?” and “What’s my return on investment with the money I’m spending?” However, dealers don’t seem to be asking similar questions to their salespeople.
Glenn would like to see dealerships use the same metrics to rank their salespeople. Instead of focusing on how many units a salesperson has sold, instead, focus on the percentage of units sold in proportion to the number of sales opportunities overall. And furthermore, relay this information to the salespeople themselves, so they are aware of their selling power as well as the number of opportunities they are not capitalizing on.
So why do the opportunities matter? For one, the majority of dealers are spending so much money to generate opportunities (like sales leads) and they are unable to tell which methods are actually working to bring in customers. Is it showroom advertising, digital marketing, traditional word of mouth?
Secondly, there’s no way to help a salesperson get better at their job if you can’t identify how they are struggling. To maximize the team effort, you need hard data, and that data needs to be broken down into specific points.
Once you have identified how many unsold customers a salesperson has, then you can investigate the reasons why they went unsold. Some reasons are out of the salesperson’s control whether it’s financing, or it’s simply a bad deal. However, some reasons, are well within the seller’s control, and that is where subsequent training should be focused.
Dealers that have made it a point to monitor and relay this information have seen an improvement in sales.