If you’ve ever hosted a private sale in the past, you know you can’t just send out invitations and wait for crowds to pour in. Each event takes time, effort, and dedication.
The steps you take before your event might mean the difference between a successful and an unsuccessful sale. Have you considered how you will mark your vehicles? Have you talked to your staff about the purpose and intent of this event? Are you banking on past success?
It’s important to consider how a private sale will help you reach your goals and what steps you can take to ensure its success.4 Ways You Need to Prepare for Your Private Sale Click To Tweet
Know Each Detail
A few weeks before your promotion, familiarize yourself with the details of your event. This will give you a chance to ask yourself any questions you may have about your event.
As you prepare and plan, you should engage your employees, ask them questions and encourage them to take part in the preparations. It’s critical that your employees know every detail about your private sale.
You want your employees to understand that this is not “just another private sale”. When they talk about your private sale, they should add credibility and spread word-of-mouth advertising.
Engage Your Team
Engage your team by holding a meeting to organize the private sale and assign tasks. Make sure that every member of your team knows exactly what their responsibilities are, where to be and what to expect. They need to understand why this event is important and how their involvement will affect the sale.
This way, they can give your customers quality customer service. Your meeting will train your employees and/or BDC on the ins and outs of your event and how to take advantage of the influx of customers and phone calls.
During your meeting, you should discuss every detail of your event from dates and times to private sale themes and incentives. How will you mark your vehicles. How will you greet your customers? Every person on your staff should walk away with an assignment.
If you want to make your private sale a success, you need to be creating energy and hype around it. You need your customers to talk to an employee who is knowledgeable and excited about the private sale. When your employees are involved in the details of your private sale, they’ll create an infectious buzz around the dealership. It will raise the curiosity of your customer.
Contact Your Customers
Did you know that winning a new customer costs a dealership 10 times more than retaining and selling to an existing one? By contacting your previous customers and informing them of your upcoming private sale, you can make money before it even begins. If 10 people on your sales staff calls 10 of their customers each day in the five days preceding your private sale, you’ll reach 500 previous customers.
If you set appointments with 20 of those customers and close half of them, you will sell 10 vehicles on top of whatever you sell during your private sale.
In fact, if your sales people call a customer three days before a private sale, you will see a 20 percent increase in attendance.
Your employees also need to know what to say and how to say it. It’s critical that a positive first impression is created so your customer will listen to the information you have to offer. 71 percent of customers say they buy their vehicle because they like, trust, and respect their salesman. Make sure your staff know their goal: schedule an appointment!
Mark Your Vehicles
Marking your vehicles is an easy way to gain your customers’ trust. If you have communicated that your vehicles will be clearly marked: DO IT.
Place price tags on in visible locations like car windshields or windows. Make sure you’ve deducted any rebates from the sale price so your customer gets the most relevant information.
Today, more than ever, it is easy to get information. Customers now have instant access to the lowest possible prices anywhere in the country. Don’t make it difficult for them to find deals at the one place that it should be the easiest – your dealership!
Your vehicles should be on sale! You want to make sure you meet your customers’ expectations. You don’t want your customers to be disappointed by your private sale or feel that it was not marketed accurately.
A recent study showed that every dealer involved in a successful event used aggressive markdown techniques. They made sure that their prices were lower than any advertised price. The benefits of lowering their prices were worth the cost.
Being aggressive with your price reductions will help you meet your sales goals. Your salespeople will spend less time negotiating prices and more time closing deals. You’ll even see higher response rates due to word of mouth.
This means that you’ll sell more cars and gain more customers. These are just a few of the benefits to drastically reducing your prices during a private sale.
Take the Next Step
It’s time to host your private sale! You’ve learned each detail, engaged each team member, contacted each customer and marked each vehicle. You’re almost there!
At J&L Marketing, our goal is to drive traffic to your showroom and provide the perfect setting for you to sell more cars. During our 25 years of experience, we’ve studied each of our private sales to ensure that our process goes smoothly and gets the best results. We’re here to help!
Remember, every private sale is different and is a learning experience. Take notes and consider what went well and what needs to improve. Call us if you have any questions.