The Generation Gap…
What’s most important to…Baby Boomers, Gen X & Millennials?
There’s a lot of commotion about the differences between these age groups. If you really listen to them though, they’re really almost the same when it comes to actually buying the vehicle.
The biggest difference between these groups is understanding how they shop for a car, and what it takes to get them into your dealership for a chance to make a sale – not what happens once they show up on the lot.
With all groups, price matters. Some want the cheapest car, some want the best, and others the coolest – but they all want the price to match the value, and that’s the problem 80% of the time.
No matter what a person says on the phone, to an online lead, or when they walk on the lot, assuming price is most important will cost you more sales with any type of buyer than anything else.
Price matters to everyone because what they pay has to equal the value they feel they’re getting, and that’s true whether someone’s 25, 50 or 75. It’s simple…
When they feel the price is too high, it’s because the value is too low.
Of course price comes up with just about every customer, but it isn’t most important. Even better, when you learn to handle it correctly, price is one of the easiest issues you have to deal with to make a sale when it’s based on value – and you control the value as long as you do your job correctly.
“Correctly” is why 80% of salespeople and managers spend a career selling price instead of the product – they were never taught how to handle it so they could focus on value instead.
Price is so embedded in salespeople’s and managers’ selling habits, that when we get to the price section in class and on JVTN® – some almost can’t even hear us at first.
Those who listen to understand, ‘get it’ very quickly and learn the correct process to deal with price questions, price concerns, and price objections. Once they apply what they learned, their sales are easier, their gross and commissions are higher, and their customers are happier.
Because we were all so conditioned to believe that price is most important, price is what almost every salesperson focuses on to sell, and it’s what almost every manager focuses on when they’re working the deal.
Learn to listen to your customers, and they’ll tell you everything that’s more important to them than the price.
Then just focus on what they tell you.
Count ‘Em…
Price is #16 in importance to them!
Of course price matters. But if you replay 90% of your conversations with customers, most go sort of like this…
“We’re looking for a…
1) white
2) Tahoe, with
3) leather,
4) the cold weather package with
a) the heated seats and
b) heated steering wheel,
5) twin buckets in the second row,
6) 3rd row seating with
7) power folding option, we want
8) the navigation system with
9) the rear camera, plus
10) the rear entertainment package to keep the kids occupied on trips
11) a tow package for our jet skis,
12) the power tailgate,
13) the roof rack and a big container,
14) a sunroof, and
15) the 22” wheels…
16) so what’ll that cost all decked out?”
• The problem…of those 16 things what’s the only one most salespeople hear? Exactly, “What will it cost?”
• Worse…Was #16 a price question, a price concern or a price objection?
It was just a question that could have easily been answered correctly. If handled incorrectly though, it will quickly turn into a price concern, and then a full-blown price objection that will cost you a sale most of the time.
Even when price seems most important to a customer, 90% of the time it isn’t.
Because 90% make payments, budget (down & payments) always matters most.
Selling is way more fun when you handle price correctly. So get to our sales workshop and we’ll show you how easy it can be to sell more cars.
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