Here’s an old one, but the message remains very relevant!
Let’s go through some numbers. How many people a day do you speak to as a car salesperson? Two or three is about average, in which case you are probably speaking to between 700 and 1,000 prospects over the course of a year.
Now let’s compare that to the typical customer. They tend to change their car every two to three years or so and nowadays visit a lot fewer dealerships than they did in the past, before we had the internet. Industry research suggests that the number of dealerships visited by the average buyer has fallen dramatically.
In other words, where you are speaking to 1,000 a year, the customer is speaking to one dealer a year on average. I call it the Expertise Ratio, in this example it’s 1,000:1.
So think about that the next time you’re about to start negotiating with a customer – especially if you ever get nervous before offering them a deal, or asking them a trial close question.
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