Take Additional Steps to Prevent Car Buyers from Leaving Your Dealership Without Buying
CAR-Research XRM recently released findings from its study of the top 10 reasons why car buyers leave a dealership without buying.
Based on the survey results, customers do not always tell the dealership the real reason they are leaving. Instead, they make up a false excuse designed to let them leave the dealership gracefully, such as time or decision maker. So, the sales personnel could misconceive that the potential buyer had no problem with the sales or management staff, when that really is the biggest reason why car buyers leave a dealership without buying.
- Sales and Management Staff Issues (27%)
- Shopping (21%)
- Price (12%)
- Financial (12%)
- Inventory (9%)
- Style (5%)
- Payments (4%)
- Trade (3%)
- Time (2%)
- Decision Maker (1%)
Although some of these reasons may be out of the control of the sales and F&I staff, many can be addressed with training, word tracks and menu selling. The most crucial part of this is the early involvement of the F&I manager. There must be an introduction made on the sales floor, so when the customer is handed off to the F&I department, he or she perceives a seamless transition.
In addition, e-contracting and customer-driven technology tools can help with the salesperson's approach, time management and the customer's difficulty understanding payments. By using an interview and menu selling approach, the customer feels that he or she is in the driver's seat of the sales process. The technology helps to move the process along more quickly and gives the customer a greater sense of transparency for the entire process, especially payment calculation.
The power to get a customer to buy isn't 100 percent in your hands, but with more knowledge and consistent training, you are positioned to give every customer a great experience.