How To Attract & Sell More Trade-In Leads (PART 1)
TRANSCRIPT: Hi, this is Steve Stauning with another Steve Stauning Short & Sweet video training lesson. Today’s lesson: How to attract and sell more trade-in leads today. This was originally an Undeniable Advantage live webcast. So if you want to take advantage of our next Undeniable Advantage live webcast, you can register for free at UndeniableAdvantage.com.
In today’s lesson, we broke it up into 14 parts to make it easy for you and your team to digest. If you’ll follow the advice that I give you in this original Undeniable Advantage webcast, I guarantee you will triple your sales from trade-in leads.
Hi again. This is Steve Stauning, and thank you for joining me for Undeniable Advantage. We’re going to teach you today how to attract and sell more trade-in leads. Now, let me give you some things what to expect today. This is a fact-based training. This means everything I’m going to show you is based on verifiable facts or studies, unless I tell you it’s just my opinion. If I say something works or I say something doesn’t work, it’s because we’ve reviewed the tests and studies, we’ve conducted some of these on our own, our clients are using these, and I am giving you the results of all of that research.
Now, by popular demand, we will have a bio break today. We will be taking a 4-minute break in the middle of the material, so please stay with me as long as you can. Those of you who had a lot of coffee this morning, please stick with me until we get to the break. It will be right in the middle of the material.
Now, know the laws, please. I’m not an attorney nor do I know the laws governing every car dealer, power sports dealer, motorcycle dealer, RV dealer, and the marketing in your city or state, your province or your country. I don’t know the laws that cover any of that. Know the laws before you implement anything I’m going to teach you today because as you know, “Steve Stauning said” is not a defense. “Steve Stauning said” is not even a defense in my own house.
Let me take a few minutes to walk you through a couple of resources that I want you to be aware of. If you’re not already aware of stevestauning.com and undeniableadvantage.com, and what we have for you on those sites for free, let me take you through just a couple of things on these sites. On stevestauning.com, for example, if you go to the website, if you’re a car dealer, motorcycle dealer, RV dealer, it doesn’t matter. You go to stevestauning.com, you scroll down in the right margin, you will get to a curriculum guide, and it will say, “Suggested Training Curriculum for Car Dealers”.
Now, when you go to Suggested Training Curriculum for Car Dealers, you can click on through that. You will see all of the classes that we have on stevestauning.com that are 100% free, that’s right, 100% free. They’re all video training for your team, but we’ve broken them up on that page by job title. If you’re a general manager, and you want to know which classes you should take, they’re on there. If you want your internet manager to take some classes, those are on there. Your BDC agents, your internet sales people, your floor sales people, even classes for your receptionist. That’s at stevestauning.com, and those classes apply whether you’re a car dealer, motorcycle dealer, power sports dealer, it doesn’t matter. All right.
Now, let’s look at undeniableadvantage.com because I want you to understand everything about that site as well. There are a couple of places that I want you to focus on, and they’re all in this simple menu. There’s only 3 menu items: Recommended, Webcast, and About. Under Webcast is where we’ve put all of our webcasts that we’ve done in the past. We’ve got webcasts there now. This one will be there after we record it, and clean it up a little bit. We’ll post it there probably in about a week, and you can go there at any time to see the full webcast broken out.
The other point that I want to focus in on is the Recommended. When you go to recommended, that will show you all of the recommended products and services. Now, I want you to understand that I’ve personally vetted every one of these products, every one of these companies, every one of these services. I know that they work. This is how we pay for Undeniable Advantage. This is how we pay for stevestauning.com. This is how we pay for all of that free training is we’ve got the recommended products under undeniableadvantage.com.
I want to ask you a favor. I want you to go there first when you’re looking for something to add for your dealership, whether it’s a car dealer or a motorcycle dealer. The products and services that I recommend are all listed there. They’ve been fully vetted. Some of them have special offers that you cannot get anywhere else other than through undeniableadvantage.com. If you’re thinking of adding a product or service, see if you can find it there first, contact the vendor through my website, undeniableadvantage.com, and then I will earn a small referral fee. My company will earn a small referral fee, and then we’ll be able to keep doing this free live webcast.
Now, but here’s one more thing. Here’s the WIFM, right? What’s in it for me? Here’s your WIFM. If you order these products through undeniableadvantage.com, I will continue to support that product for you. If you’re having an issue with the vendor, which I doubt you will because I’ve personally vetted these vendors, if you’re having an issue on how to get the most out of a product that you’ve bought through undeniableadvantage.com, you can contact me, Steve Stauning, and I will talk you through it. I will help you through it. I will help your team get the most out of this.
You can go to the vendors directly. I love these vendors. That’s why they’re on this website. If you go through my website, undeniableadvantage.com to contact the vendor, we’ll earn a small referral fee, but you will also get my expertise from that vendor on anything that that vendor sells. All right.
Let’s talk about what we’re going to cover today. We’re going to talk about the best and worst trade practices out there. We’re going to teach you how to attract more trade-in leads than you’ve ever thought possible. We’re going to teach you how to get those trade customers to actually take your phone call. Then we’re going to teach you how to set real appointments that actually show with those trade-in customers. Finally, we’re going to show you how to close those trade-in customers that do show up 80% of the time.
Now, let me give you some reality on trade leads, okay? The average dealer closes about 7% of their total leads. This is the average car dealer, closes about 7% of all their leads, their entire lead bucket. That’s what you see in the blue. That same average dealer closes their website leads above 20%, 20% or better. These are average dealers, folks. Now, that’s in the green, but that same average dealer closes their website trade leads at around 6%. That’s in the yellow.
You got to be asking yourself, “Wait a minute, Steve. Aren’t these trade leads, aren’t they website leads? Why don’t they close it 20%?” There are 2 reasons that you’re not closing your website trade-in leads the same way that you’re closing your total website leads. One is you’re following the wrong processes. We’re going to teach you the right processes today. Two is you’re using the wrong word tracks. Again, we’re going to teach you the right word tracks today, so that you can get out of this dilemma, but you know what? There’s actually a bit more than that.
It’s not just enough to get you from a 6% to a 20% closing rate because there are lots of other ways to grow your sales from trade leads. Just bear with me on this chart for a minute. The blue represents the trade leads that you currently get today. When you add in the right e-mail marketing, and you do instant retargeting, you can grow your trade leads by 40% to 60%. Then if you’ll employ a better website trade tool, you can actually double your trade leads, okay? You can grow it by another 100% to 200%.
Then finally, when you’re using the correct talk tracks, when you’re setting real appointments that actually show, and when you’re conducting the perfect appointment, you’re going to be able to grow by another 150% from your original trade lead. This is how you’re going to be able to more than triple your sales from your existing trade leads.
Now, one thing I want to keep you focused on, whenever you’re dealing with anything in the dealership, but even and especially trade leads, every step of your process from attracting to selling a trade lead should have one goal. Each step of the process only has one goal. Until we get a trade lead, our goal is to attract trade leads, and we’ll take you through how to get more of these trade leads.
Once I get a trade lead, I have one goal, and it’s not to sell a car. Once I have a trade lead, my goal is to connect with that prospect, the prospect who had said, “Buy my car.” I have one goal, and that’s to connect with them. Once I connect with them, I have one goal, and that’s an appointment that shows. That’s my only goal when I have someone on the phone is an appointment that shows. Now, once I get them to show up, that’s when I have the one goal, which is to sell them a car, to transact business. Every step of the way, we have just one goal.