“How Can I Maximize Gross with Trade Walk?”
We all know that a profitable trade walk approach is a critical component of the sales process, but how and when you execute this step could determine whether it makes you money or costs you money.
The Pitfalls of the Old-School Method
Traditionally, many salespeople were taught to conduct a silent walk-around of the customer’s car after the demonstration drive. This method has significant drawbacks. By spending time building rapport and getting the customer excited, only to then critique their trade-in, you risk deflating their enthusiasm just before negotiations.
Introducing the Un-Silent Walk-Around
At the Kintz Group, we teach what we call the un-silent walk-around. With this system, the trade walk is done before the demonstration drive, allowing us to find common ground with the customer right off the bat. We chat with them about why they’re looking for a new vehicle, how many miles their trade has, and whether they purchased it new or used. As we walk around the car, we can look for bumper stickers, car seats, golf clubs, tow hitches, ski racks, and anything else that reveals information about the individual and their needs. Sometimes, the trade may be spotless and running on empty, which indicates they’re ready to make a purchase.
Building Connections With Customer-Centric Trade Walk
As you walk around the car, engage the customer in conversation about:
– Why they are looking for a new vehicle
– The mileage on their trade
– Whether they purchased it new or used
Look for personal touches like bumper stickers, car seats, golf clubs, tow hitches, and ski racks. These details provide insight into their lifestyle and needs, allowing you to tailor your sales pitch effectively. Sometimes, the trade may be spotless and with an empty tank, which tells us they’re ready to make a purchase.
Creating a Comfort Zone
Conducting the trade walk at the customer’s vehicle puts them in their comfort zone. Just like a safe base in a childhood game of tag, being at their car allows them to feel more relaxed. You can ask questions about the vehicle’s condition—like whether they’ve had estimates done for any dents or about the state of their tires—without completely deflating their excitement.
Streamlining the Sales Process with an Efficient Sales Walk-Around
Doing the trade walk before the demo saves valuable time. You can scan the VIN number and the customer’s driver’s license right there, populating all necessary information into your CRM. This means that when you return from the demo, the customer remains in a state of excitement, and you don’t waste time inputting information.
Speeding Up Negotiations
Slow negotiations can kill a deal. By adopting this method, you expedite the entire sales process. When it’s time to negotiate, the customer is still emotionally engaged. The number one complaint customers have is how long negotiations take. By shortening this time, you reduce the likelihood of buyer’s remorse, which often occurs when negotiations drag on.
Achieving Happier Customers
A more efficient sales process not only leads to easier negotiations but also results in happier customers. Walking around the customer’s trade before the demo allows you to be more effective in your negotiations, ultimately leading to greater success overall.
In conclusion, rethink the trade walk. Embrace the un-silent walk-around, build connections, streamline your process, and maximize gross with trade walk!
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