Road to Acquisition
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What is Active Prospecting?
Proactive contacting of prospects to turn them into customers
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Don’t wait for customers in the showroom — go out and get them
Don’t be afraid — the three-pointed star opens doors for you
Don’t wait for referrals — ask for them from your customers
Know your market — locate and connect with successful local businessmen
Open your eyes — join local clubs and events to find new customers
Leave your mark — hand over brochures and your name card during each visit
Never let go — always follow up on acquisition activities
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“Every journey of a thousand miles begins with the first step”
Your name
Your dealership
2 Why Active Prospecting?
Remember, not everyone knows Mercedes-Benz,your dealership and you
Focus on the right target group — segmentation increases your chance to close a deal
Cold calls and cold visits — it’s difficult, but rewarding
Direct mailings — very effective if executed correctly
Referrals — ask loyal customers to refer friends, colleagues, etc to you
After sales customers — tap into your dealership’s goldmine
Conquest and social network — stir up interest in Mercedes-Benz (in everyone and everywhere)
Marketing activities — get noticed in your market
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How to do Active Prospecting?
All paths lead to potential customers — the right mix is the key to success
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Referrals
Cold visits
Marketing
Coldcalls
Social network
Directmailings
Conquest
After sales
Customers do not come to Mercedes-Benz “voluntarily” — go out and get them
Customers become increasingly informed and sophisticated
Customers do have alternatives and they don’t hesitate to choose other brands
Mercedes-Benz faces fierce competition
There is untapped potential in every area
In a nutshell: active prospecting helps to pull potential customers to your dealership, i.e. increase showroom traffic
Customer segmentation
Classification of customers increases your success rate
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By product type: e.g. S-class, E-class
By demographics: e.g. age, gender, income level, education, marital status, profession
By psychographics: e.g. hobbies, life-style, interests
By geography: e.g. rural vs. urban area
By behavioral: e.g. re-purchase cycle (every x years)
By importance: e.g. customer life-time value, value of transactions, loyal customers
By vehicle ownership: e.g. current vehicle older than x years
Who is my target group?
Customer segmentation increases your chance to close a deal
Collect and capture customer data continuously and comprehensively
Identify prospect’s unique needs, preferences and requirements
Classify customers according to segmentation criteria
Identify market segments with highest sales potential
In a nutshell: segmentation enables targeted active prospecting and efficient use of resources
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6 7Key success factors
90% of success is based on preparation
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What to achieve by when? — Set clear and realistic objectives
Who to contact when and why? — Determine priorities
When to do showroom and outside appointments? — Plan your day accordingly
What contacts have I had with the prospect? — Know your prospect
How to structure calls and visits? — Structure your calls and visits
Prepare yourself for the prospect (contact history, documents, etc)
In a nutshell: be prepared, enthusiastic, and goal-oriented
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After sales customers are a goldmine to capture new sales customers
Coordinate customer data with your service department — go out and capture all after sales customers
Prioritize your after sales customers through segmentation — e.g. current vehicle older than x years
Establish a first contact — introduce yourself to after sales customers
Manage them — to ensure they buy from you
And remember: follow-up existing sales customers so they also buy from you again!
After sales customers
Tap into your dealership’s goldmine
8There is no second chance to make a first impression
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Structure your call (how to initiate, maintain, and end calls?)
Introduce yourself professionally with “Mercedes-Benz LOCATION. Good day! My name is …”
Give a reason for your call and be prepared to answer “What’s this all about?”
Clarify key questions (find as much information about your prospect as possible)
Professional ending (sum up agreements, secure follow-up contact, offer prospect to call back)
Thank prospect for speaking to you
Document the call upon completion (summary, findings, next contact)
Cold calls are difficult but rewarding
Those who forget to prepare are prepared to be forgotten
Set clear and realistic goals, e.g. invitation to dealership — no one sells a car during the first call
Tidy up your workplace and have note paper ready — a clean start for a promising deal
Avoid any background noises — the basis for an effective call
Determine right time to make your call — not all times are equally effective
Get into a positive mood — people “see” if you smile on the phone
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Mercedes-Benz LOCATION.
Good day! My name is …
Professional telephone manner
Avoid the following words and phrases…
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Fillers (er, um, you know)
Qualifiers (actually, perhaps, maybe, sometimes)
Repetition (repeating what has been said)
Conditionals (could, would)
Negative words (unfortunately, never, not, cheap, bad, difficult)
Suppositions (I’m sure you are aware that…, I bet you…)
Set phrases (may I ask, to be honest)
Condescending phrases (now then, now you listen to me)
Inferences (I think, I believe)
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er, um, you know, actually,
perhaps, maybe, could, would, unfortunately, never,
not, cheap, bad, difficult, sometimes, I’m sure you are aware that…, I bet you…,
may I ask, to be honest, I think, I believe
Linguistics
Treat every call as if it’s your only one
Listen actively by re-confirming what the prospect says
Speak slowly and briefly pause between sentences
Ask only one question at a time
Pause after every question to prompt answers
Address prospect by name
Avoid fillers, conditionals, repetitions, etc
Get to know the customer (e.g. hobbies, interests, etc)
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Cold visits
The three-pointed star opens doors to new customers
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Find potential customers in your area (individuals/companies) via the internet, newspaper, etc
Make yourself familiar with the potential customer (address, contact person, current business, etc)
Set clear and realistic goals for the visit, e.g. invitation to the showroom
Reinforce positive contact with a speedy follow-up, e.g. a face-to-face appointment in the showroom within one week
In a nutshell: prepare thoroughly for the cold visit and follow-up activities
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Introduce yourself professionally with “Mercedes-Benz LOCATION. Good day! My name is …”
Enquire if contact is willing to discuss matters at hand — only continue in light of confirmation
Identify prospect’s needs and offer tailored benefits
Wrap up the visit professionally (sum up agreements and next steps, leave name card and brochures)
In a nutshell: be a professional Mercedes-Benz brand advocate
13 Ask for referrals
Loyal customers will help you grow your prospect base
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Loyal customers can bring you new customers — so ask for referrals
Loyal customers may become your brand advocate — ask them to promote you
Thank your customers for each referral and keep them up-to-date
Treat every referral as a potential customer
In a nutshell: keep your customers happy and loyal and they will expand your business
12 Direct mailings
Don’t send it if it is not personal or relevant
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Make it personal and relevant to the customer
Secure interest with an appealing beginning and highlight key messages
Attach response cards to facilitate interaction
Include “Call for action/I will contact you…” to indicate follow-up activity
Keep in mind the best days to mail
Reinforce positive contact with a follow-up, e.g. an appointment in the showroom within one week
Invitation
Invita
tion
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All employees’ network has potential customers
Advocate Mercedes-Benz and your dealership at every opportunity
Stir up interest in Mercedes-Benz — in everyone and everywhere
Join local clubs and events — there are always occasions to meet prospects
If prospects show interest, gently push for a face-to-face appointment in the showroom
Offer your social network to contact you at any time
In a nutshell: be a Mercedes-Benz brand advocate – everywhere and anytime
Social network
Bring the “Star” out to the field15Conquest
Induce competitors’ customers to buy Mercedes-Benz
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Locate competitor’s customers — e.g. during events or external data bases
Know our products and know the competitors’ products — then advocate our advantages to prospects
Highlight the presence of your dealership — not everyone knows about you
Proactively contact prospects — cold calls and visits are a perfect start
Secure face-to-face appointments in the showroom — the ideal place to present Mercedes-Benz
Don’t be afraid of objections — you are trained to overcome them
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Know your area (affluent residential neighborhoods, promising companies, etc)
Identify potential customers (individuals, companies, fleet, etc)
Keep yourself up-to-date with your area (newspapers, magazines, internet, etc)
Manage your area (schedule cold visits, customer visits, courtesy visits, etc)
Always aim to secure a face-to-face appointment in the showroom
Continuously show presence and care about your prospects and customers in your area
Area sales person
Your area is your business, so manage it well
16 Marketing activities
Acquiring customers directly and out of the crowd
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Highlight presence of your dealership — at events, advertising, direct mailings
Advertise in local media — newspaper, radio
Arrange special events at the dealership — sneak previews for new products
Execute acquisition strategies — cold calls, direct mailings, cold visits
Sponsor events — concerts, golf tournaments
Utilize local VIPs and opinion leaders — to raise the profile of your dealership
In a nutshell: marketing activities increase showroom traffic in many ways
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Give your prospects the feeling that you really care about them — at all times
Show them you are not just selling a car
Become your prospect’s best friend — together with your service colleagues
Ideal follow-up activities after establishing contact — one week after initial contact
Always deliver on your promises — commitment is binding in the long run
Always exceed your customer’s expectations with surprising gestures
Be there for them — always
Follow-up all your prospects, regularly
Match your prospect management with the first-class products you sell
18 Closing on prospects
Signing of the contract — the beginning of a life-long relationship
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Personally intensify the relationship over time — and the next decision is in favor of Mercedes-Benz
Propose concrete offers and solutions to your prospect’s individual needs
Let the customer feel like the vehicle’s owner and then gently push to close the deal
Never let customers leave without asking whether he wants to buy the car (“Would you like me to reserve it for you?”)
After signing the contract, always re-enforce your customer’s decision as a wise choice
Remember: “No” means “Not yet” — keep up the spirits and provide more benefits
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21 Always remember
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The definition of ‘to sell’ is:
To establish faith, confidence and belief in the value of Mercedes-Benz vehicles
Sales people think price is the most important factor in a sale….
Customers say it is the salesperson
Never look for excuses — it’s up to you
20 Planning/Controlling/Evaluation��Successful acquisition can be managed by thorough planning, monitoring, and evaluation of activities:
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Number of calls�Number of visits�Number of follow-up activities�Lost sales analysis�Closing rate on acquisition�Number of showroom visits�Number of test drive conversions�Number of sales conversions�Cost-benefit analysis of activities
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Remember:
Dissatisfied customers never buy again and will tell 10 friends about their bad experience
Satisfied customers may buy again and will tell only few friends about their good experience
Loyal customers always buy again and will praise you and the brand to all of their friends
Being with your customer means being with success
Customer relationship management
You can make the difference between customers and loyal customers
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