Facts About Buying & Selling
Which stats are most important?
That’s a big question because there are about 100 ‘most important’ facts about the different areas that affect sales. Stats on customers, selling, closing, negotiation, follow up, calls & leads, and facts on prospecting, unsold follow up, retention and more.
Here are the most important when it comes to making your next sale…
Key Buying / Selling Stats
- 8 out of 10 (78%) who look at a vehicle, buy. Average salespeople only deliver 2 (20%) because they either don’t understand, or try to shortcut these stats about buyers & buying.
- 8.5 of 10 (85%) have decided to buy before you even talk to them.
- 7 of 10 (72%) say they aren’t there to buy, mostly because of salespeople’s first question, “How can I help you?”
- 7 of 10 (71%) buy because they like their salesperson – but 85% said their salesperson didn’t build any rapport.
- 7 of 10 (71%) found a vehicle in stock they’d consider buying, but did not buy because they didn’t feel comfortable with their salesperson, or the process.
- 80% of buying decisions are based on 20% of the features on a vehicle. But 85% of salespeople don’t investigate, to find those targeted features / benefits.
- 5 out of 10 (50%) buy on the spot when they get a targeted demo & presentation.
- Only 4 out of 10 (40%) get a demo.
- All (99%) want to drive it before they buy, so … No Demo = No Sale.
- 5 out of 10 (50%) vehicles are sold to women, and 90% of the decision to purchase will be made by, or strongly influenced by the woman in the group.
- 9 out of 10 (86%) do not buy the specific vehicle they planned to buy. They buy a different color, make, model or equipment than planned.
- 8 out of 10 (77%) of Internet shoppers do not buy the specific vehicle they had intended to purchase.
- 0 (0%) … Price didn’t make it into the 2013 J.D. Power “Top 10” Reasons Buyers Choose Specific Models.
- #16 … Once the buyer is on the lot, price comes in at 16th place behind color, equipment & other options.
- 16% pay MSRP or higher.
- 30% pay what they’re asked to pay.
- 9 out of 10 buyers (90%+) will make payments on their vehicle, and if it fits their budget, most will buy, regardless of the price.
- 9.9 out of 10 salespeople focus on price, trade, down & payments to prequalify, or to select a vehicle to present.
- 10 out of 10 (96%) people who get a price or trade value on the lot before they commit to buying, shop the price.
- People pay 8.1% more when they buy from people they like.
- 7 out of 10 (70%) repeat & referral customers buy when they come in.
- 40% … Repeat and referrals also pay $600 more in gross (commission) than walk-in prospects.
- Speed Kills Sales … Spend less than 60 minutes with a customer, 6% buy. At 72 minutes, 31% buy. At 100+, you’ll deliver 57% (6 out of 10).
Copy or print out this page, and read it a dozen times a day for at least 30 days. Internalize these stats and use them as your guide to double your sales and income.
Sell more cars with Joe Verde’s book “Earn Over $100,000 Selling Cars – Every Year.” Go to JoeVerde.com to get a free PDF or order a free soft cover book. Or, find out more about Joe Verde’s workshops and how to sell more cars, have more fun and make more money — now!