As the year comes to a close we should all look back at events and
opportunities of the past to reflect on what could have been done to bring
different results for our Dealerships. For example, look at the ratio of actual
on-site demonstrations performed by your sales people during the last year; how
many demonstrations resulted in actual sales? How many were lost .... and why?
Without in-depth evaluation of the year's performance by your individual sales
people and the sales team as a whole, you will not improve your sales and
procedures. Your Dealership will not grow!
Evaluate your teams as a whole.
Do they work well together? Are there individuals who have exceeded
expectations and how was it achieved by them? Can you duplicate their tactics,
resulting in the same success for others on the team? What improvements can be
made to the presentations your sales people give? The answer to these questions
and others will mold your sales guidance and procedures for the following year.
By brain storming these important observations and reviewing the resulting
sales (or Lack Of!!) can develop new tactics for the following year. You can't
do much to change the past but you can sure make certain that the past is used
to make the present and future much more successful.
Take a survey of your products and the focus of your dealership.
Which are the products that create your highest profits and have the highest
demand? Look at your "repeat revenue" items as this is an area many
dealerships overlook. Most of our revenue comes from new business but it is
very foolish for a dealership not to develop "repeat revenue" items
such as popular supplies, software sales and service contracts. Try something
new such as creating a data processing center for your new customers; new
customers are sometimes overwhelmed just learning equipment but what can scare
away a deal is the fear of data-processing! Eliminate this fear by creating an
entity in your dealership that can process your new customer's data for a fee,
while they learn and adjust to operating their new equipment. Once they are
comfortable move them into their own software and processing. By doing this you
have increased your value to the customer and stood out above the average
competitor you will face.
When "the time comes"
that you need to create a "value" for your dealership most of it will
be based on your regular flow of repeat revenue and sales volume. It is the
repeat revenue and loyalty areas that pay the bills, so don't neglect them !!