Page 18 - GIADA-Sept-2018-Final

SALES

How to Convert on the 3 Customer

Buying Signals

Salespeople don’t always know the best way to capitalize on available data, missing
key opportunities to improve the customer’s experience and close the deal

By Mo Zahabi, Senior Director of Sales and Product Consulting, VinSolutions
We live in an age where technology provides same vehicle for several years, there could 3. WEBSITE BEHAVIOR
dealerships with an immense amount of be an opportunity to get them in a new car The final—and maybe the most obvious—
data about what customers want—but only without increasing payments. buying signal is website behavior.
if they read their buying signals correctly. Dealerships can and should record all
It’s the dealer’s job to let customers know online data so that they know what each
Even though this data is available to the if they are in positive equity because they customer is looking for based on their
sales staff, salespeople don’t always know may not realize it themselves. Alerting online activity.
the best way to capitalize on it, missing key customers to their positive equity could
opportunities to improve the customer’s help create desire for a new vehicle, and Some CRMs have a web behavior–tracking
experience and close the deal. where there is desire, there could be a deal. tool, which can help dealers easily see
what customers are searching for on their
So, how can dealers ensure their sales Rebates and incentives change every day, website. With information on website
operation takes full advantage of the so a customer’s equity may be changing browsing history in hand, salespeople
technology and data available to it? daily too. Dealers should be proactive and can gain unique insights, allowing the
use the CRM to alert customers when their dealership to present the most relevant
It starts with understanding that technology equity becomes positive, and then convey vehicles and features consumers are already
is changing how dealers interact with how it can correspond to new deals and interested in.
customers. Random cold calls are offers.
obsolete when there is ample background Dealers need to be cautious with this data,
information collected in your CRM to 2. SERVICE ACTIVITY however, and look for repeat behavior
create a more timely and personalized The second buying signal is service activity. across multiple visits instead of contacting
conversation with customers. Maybe a customer’s old car is due for an someone who has only looked at one car on
expensive repair, or a customer keeps the website.
Information such as customer sentiment, repairing the same part in a car.
what cars customers have looked at online, In this increasingly competitive
what their budget is, what type of car they Or maybe the customer simply has had the environment, proactivity will get dealers
are looking for, etc., all can help create an same car for a long time. A variety of service ahead. Having the right tools to help dealers
intelligent interaction when reaching out to lane behaviors can indicate a customer turn data into insights and technology
or responding to the customer. might be ready for a new vehicle. will enable them to read the signs that
customers are ready to buy.
The most successful dealers are indeed the If a dealership’s CRM is connected to the
proactive ones. For dealerships that use service side of the business, dealers can Once dealerships can read the signals
their CRMs religiously and enforce the read service signals right off the CRM on correctly, it will help them close more deals
process, all customer data that is needed to the service appointment dashboard. Access and increase their bottom line. n
be successful is available in the tool. to service activity data allows dealers to
proactively reach out to customers with Mo Zahabi is the senior director of sales and
When dealers are armed with data from the special offers, or meet them in the service product consulting at VinSolutions, a Cox
CRM, customers’ three key buying signals drive for a conversation to gauge their Automotive brand that seamlessly integrates
are easier to pick up on. appetite for a new car. systems and tools to deliver a single view of
the customer across a dealership, so dealers
1. EQUITY STANDING All of these interactions, whether the can maintain relationships and make more
The first buying signal is positive equity customer moves forward or not, must be repeat sales.
standing. If a customer has positive equity recorded back into the CRM to inform the
and has been making payments on the next exchange.

16 | GIADA Independent Auto Dealer SEPTEMBER 2018