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Road To Acquisition (E)
- 1. 03.2005 Road to Acquisition
- 2. Your name Your dealership Every journey What is Active Prospecting? of a thousand miles 1 Proactive contacting of prospects to turn them into customers begins with the 鍖rst step Dont wait for customers in the showroom go out and get them Dont be afraid the three-pointed star opens doors for you Dont wait for referrals ask for them from your customers Know your market locate and connect with successful local businessmen Open your eyes join local clubs and events to 鍖nd new customers Leave your mark hand over brochures and your name card during each visit Never let go always follow up on acquisition activities
- 3. Cold visit rk s Social netwo Col es al dc rs alls Af te Referrals Direc t mai lings est Marketing Conqu 2 Why Active Prospecting? Remember, not everyone knows 3 How to do Active Prospecting? All paths lead to potential customers Mercedes-Benz, the right mix is the key to success your dealership and you Customers do not come to Mercedes-Benz voluntarily go out Focus on the right target group segmentation increases your chance to close a deal and get them Customers become increasingly informed Cold calls and cold visits its difficult, but rewarding and sophisticated Customers do have alternatives and they Direct mailings very effective if executed correctly dont hesitate to choose other brands Mercedes-Benz faces fierce competition Referrals ask loyal customers to refer friends, colleagues, etc to you There is untapped potential in every area After sales customers tap into your dealerships goldmine In a nutshell: active prospecting helps to pull potential customers to your dealership, i.e. increase showroom traffic Conquest and social network stir up interest in Mercedes-Benz (in everyone and everywhere) Marketing activities get noticed in your market
- 4. 4 Who is my target group? Customer segmentation increases your 5 Customer segmentation Classification of customers increases chance to close a deal your success rate Collect and capture customer data continuously and comprehensively By product type: e.g. S-class, E-class Identify prospects unique needs, By demographics: e.g. age, gender, income level, education, marital status, preferences and requirements profession Classify customers according to segmentation criteria By psychographics: e.g. hobbies, life-style, interests Identify market segments with highest sales potential By geography: e.g. rural vs. urban area In a nutshell: segmentation enables By behavioral: e.g. re-purchase cycle (every x years) targeted active prospecting and ef鍖cient use of resources By importance: e.g. customer life-time value, value of transactions, loyal customers By vehicle ownership: e.g. current vehicle older than x years
- 5. 6 Key success factors 90% of success is based on preparation 7 After sales customers Tap into your dealerships goldmine What to achieve by when? Set clear and realistic objectives After sales customers are a goldmine to capture new sales customers Who to contact when and why? Determine priorities Coordinate customer data with your service department go out and capture all after sales customers When to do showroom and outside appointments? Plan your day accordingly Prioritize your after sales customers through segmentation e.g. current What contacts have I had with the prospect? Know your prospect vehicle older than x years How to structure calls and visits? Establish a first contact introduce yourself to after sales customers Structure your calls and visits Prepare yourself for the prospect Manage them to ensure they buy from you (contact history, documents, etc) In a nutshell: be prepared, enthusiastic, And remember: follow-up existing sales customers so they also buy from and goal-oriented you again!
- 6. Mercedes-Benz LOCATION. Good day! My name is 8 Cold calls are difficult but rewarding Those who forget to prepare are There is no second chance to make a prepared to be forgotten first impression Set clear and realistic goals, e.g. invitation to dealership no one sells a Structure your call (how to initiate, maintain, and end calls?) car during the first call Introduce yourself professionally with Tidy up your workplace and have note paper ready a clean start for a Mercedes-Benz LOCATION. Good day! My name is promising deal Give a reason for your call and be prepared Avoid any background noises the basis for an effective call to answer Whats this all about? Clarify key questions (find as much Determine right time to make your call not all times are equally effective information about your prospect as possible) Professional ending (sum up Get into a positive mood people see if you smile on the phone agreements, secure follow-up contact, offer prospect to call back) Thank prospect for speaking to you Document the call upon completion (summary, findings, next contact)
- 7. er, um, you know, actually, perhaps, maybe, could, would, unfortunately, never, not, cheap, bad, difficult, sometimes, Im sure you are aware that, I bet you, may I ask, to be honest, I think, I believe 9 Linguistics Treat every call as if its your only one 10 Professional telephone manner Avoid the following words and phrases Listen actively by re-confirming what the prospect says Fillers (er, um, you know) Qualifiers (actually, perhaps, maybe, Speak slowly and briefly pause between sentences sometimes) Repetition (repeating what has been said) Ask only one question at a time Conditionals (could, would) Pause after every question to prompt answers Negative words (unfortunately, never, not, cheap, bad, difficult) Address prospect by name Suppositions (Im sure you are aware Avoid fillers, conditionals, repetitions, etc that, I bet you) Get to know the customer (e.g. hobbies, interests, etc) Set phrases (may I ask, to be honest) Condescending phrases (now then, now you listen to me) Inferences (I think, I believe)
- 8. 11 Cold visits The three-pointed star opens doors to new customers Find potential customers in your area (individuals/companies) via the internet, Introduce yourself professionally with Mercedes-Benz LOCATION. Good day! newspaper, etc My name is Make yourself familiar with the potential customer (address, contact person, Enquire if contact is willing to discuss matters at hand only continue in light of current business, etc) con鍖rmation Set clear and realistic goals for the visit, e.g. invitation to the showroom Identify prospects needs and offer tailored bene鍖ts Reinforce positive contact with a speedy follow-up, e.g. a face-to-face appointment Wrap up the visit professionally (sum up agreements and next steps, leave name in the showroom within one week card and brochures) In a nutshell: prepare thoroughly for the cold visit and follow-up activities In a nutshell: be a professional Mercedes-Benz brand advocate
- 9. tion Invita n tio ta vi In 12 Direct mailings Dont send it if it is not personal or 13 Ask for referrals Loyal customers will help you grow relevant your prospect base Make it personal and relevant to the customer Loyal customers can bring you new customers so ask for referrals Secure interest with an appealing beginning and highlight key messages Loyal customers may become your brand advocate ask them to promote you Attach response cards to facilitate interaction Thank your customers for each referral and keep them up-to-date Include Call for action/I will contact you to indicate follow-up activity Treat every referral as a potential customer Keep in mind the best days to mail In a nutshell: keep your customers happy and loyal and they will expand Reinforce positive contact with a follow-up, e.g. an appointment in the your business showroom within one week
- 10. 14 Conquest Induce competitors customers 15 Social network Bring the Star out to the field to buy Mercedes-Benz Locate competitors customers e.g. during events or external data bases All employees network has potential customers Know our products and know the competitors products then advocate Advocate Mercedes-Benz and your dealership at every opportunity our advantages to prospects Stir up interest in Mercedes-Benz Highlight the presence of your dealership not everyone knows in everyone and everywhere about you Join local clubs and events there are always occasions to meet prospects Proactively contact prospects cold calls and visits are a perfect start If prospects show interest, gently push for a face-to-face appointment in Secure face-to-face appointments in the showroom the ideal place to the showroom present Mercedes-Benz Offer your social network to contact you at any time Dont be afraid of objections you are trained to overcome them In a nutshell: be a Mercedes-Benz brand advocate everywhere and anytime
- 11. 16 Marketing activities Acquiring customers directly and 17 Area sales person Your area is your business, out of the crowd so manage it well Highlight presence of your dealership at events, advertising, direct mailings Know your area (affluent residential neighborhoods, promising companies, etc) Advertise in local media newspaper, radio Identify potential customers (individuals, companies, fleet, etc) Arrange special events at the dealership sneak previews for new products Keep yourself up-to-date with your area (newspapers, magazines, internet, etc) Execute acquisition strategies cold calls, direct mailings, cold visits Manage your area (schedule cold visits, customer visits, courtesy visits, etc) Sponsor events concerts, golf tournaments Always aim to secure a face-to-face appointment in the showroom Utilize local VIPs and opinion leaders to raise the profile of your dealership Continuously show presence and care about your prospects and customers in your area In a nutshell: marketing activities increase showroom traffic in many ways
- 12. 18 Closing on prospects Signing of the contract the beginning 19 Follow-up all your prospects, regularly Match your prospect management with of a life-long relationship the first-class products you sell Personally intensify the relationship over time and the next decision is in Give your prospects the feeling that you really care about them at all times favor of Mercedes-Benz Show them you are not just selling a car Propose concrete offers and solutions to your prospects individual needs Become your prospects best friend together with your service colleagues Let the customer feel like the vehicles owner and then gently push to close the deal Ideal follow-up activities after establishing contact one week after initial contact Never let customers leave without asking whether he wants to buy the car (Would you Always deliver on your promises commitment is binding in the long run like me to reserve it for you?) After signing the contract, always Always exceed your customers expectations with surprising gestures re-enforce your customers decision as a wise choice Be there for them always Remember: No means Not yet keep up the spirits and provide more benefits
- 13. 20 Planning/Controlling/Evaluation Successful acquisition can be managed 21 Always remember by thorough planning, monitoring, and evaluation of activities: Number of calls The definition of to sell is: Number of visits To establish faith, confidence and Number of follow-up activities belief in the value of Mercedes-Benz vehicles Lost sales analysis Sales people think price is the most Closing rate on acquisition important factor in a sale. Number of showroom visits Customers say it is the salesperson Number of test drive conversions Never look for excuses its up to you Number of sales conversions Cost-benefit analysis of activities
- 14. 22 Customer relationship management You can make the difference between customers and loyal customers 息 MBCL /DCAG. Not to be reprinted, translated or otherwise reproduced, in whole or in part, without written permission. Remember: Dissatisfied customers never buy again and will tell 10 friends about their bad experience Satisfied customers may buy again and will tell only few friends about their good experience Loyal customers always buy again and will praise you and the brand to all of their friends Being with your customer means being with success