I worked in a popular car brand in which I discovered a lot of tricks to generate income aside from the monthly salary.
It's not that easy to sell a brand new car. You need to have a strong interpersonal skill to connect with prospecting clients and to build a long term relationship. I want to show you the flow of the routine in sales.
If your in the showroom:
You need to prepare the following:
1. Your prospect list (noted from your organizer or record book)
2. If you have a tablet, ipad or laptop, that would be an easy access
3. A gel pen or sign pen for signatures (How about Parker)
4. Computation sheet
5. Clearbook with set of brochures or flyers for any updated marketing campaign.
6. Brochure of accessories
7. Ofcourse, your Smartphone (All Networks would be better, the Smartest price smartphone, you're "IN")
4 Ways to gather prospects:
1. Walk in
2. Inbound Call (Direct call to the dealership)
3. Sales Call out of the showroom
4. Courtesy call to bank managers
Once you were able to gather list of prospects, that's the time you will make follow up calls. Variation would be 3 days, 7 days or after a month. During the first conversation/visit, your target is to close the deal. But if the client still undecided, you need to maintain a database of the client's information under your name. Every car dealership, they have their own software for database.
Strategy on providing quotation/computation to the clients:
The dealership has their own discounting. The discounting is been formulated by the higher department as part of the Marketing strategy. The Sales Consultant/Sales Executive/Marketing Professional sometimes give the full discount depends on the client's profile. The discounts can be converted to accessories. Then you will get a commission of selling the accessories for the vehicle. Other strategy is to save at least 5-10K for the tipster fee. Some of the dealerships not allowing agents to allocate tipster fee, but some are giving this privilege.
What is a Tipster Fee?
The tipster fee is a legally approved fee to be given to a specific person who assisted to close the deal with the client. The tipster should have a close communication with the prospect. The tipster should have a bank account and a TIN number. The fee shall be deposited to the Tipster account. Some agents look for a tipster (A dummy) to deposit the account.
How the commission computation goes:
For financing, the agent can get 1% to 5% sales incentive to be given by the company, but there are banks giving more than 5% if direct loan. There are dealership has an in-house financing that giving out 2.5% on the amount financed.
Example:
Unit Price: 1,000,000
Down payment: 20%: 200,000
Amount Financed: 800,000
Commission: 2.5%: PHP 20,000
Then if outside insurance: Range 3,000 to 10,000 depends on how expensive the car.
Plus accessories: Maybe 10,000
Plus Unit Commission: 1,000 to 5,000
And other bonuses.
See, that is only for one car. If you work hard, you can definitely get what you want. Enjoy selling! :-)
