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                                                                       .biz




How to Add to
Your Response Rate
                                      Tony Cantrell
BEFORE YOU SPEND
  ANOTHER DOLLAR ON THE
  NEWSPAPER CLASSIFIEDS,
        READ THIS.
   Only 7% of newspaper readers                                                        surpassed the newspaper as the number-one source
   are looking for a used car.                                                         people use to find a car. At AutoTrader.com, virtually all
   A lot of people advertise in the newspaper simply                                   of the nine million monthly visitors are looking to buy a
   because they have for years. But when you really look at the                        car within the next 60 days. Also, the majority of
   number of newspaper readers who                                                                        AutoTrader.com users are looking to
   are actually looking for a car, it’s                                                                   buy within 25 miles of their home. When
   not     very     impressive.        In    fact,                                                        you consider all of this, you’ll realize that
   newspaper         circulation      continues                                                           you can list your car in the newspaper,
   to decline, and the Internet has                                                                       or you can sell it on AutoTrader.com.




                      Still using the newspaper as your main vehicle to reach car buyers?
            It’s time to partner with AutoTrader.com. For more information, call 1-888-249-6860.




©2005 AutoTrader.com is a trademark of TPI Holdings, Inc. and is used under license.
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AutoSuccess Jun05
8
                                                                 A Simple Formula for Internet Success                                                                                     DavidKain

                                         Always Ensure Compliance
                                                                         9                                                                                                                 TonyDupaquier


INSID                                                    Do You Care

                          Ofßine Strategies to Build Online TrafÞc

                                             Full Price is a Fair Price
                                                                        10
                                                                        12
                                                                        13
                                                                                                                                                                                           ScottJoseph

                                                                                                                                                                                           PaulAccinno

                                                                                                                                                                                           KirkManzo


 Brand Yourself in Order to Improve Your Image in the Marketplace 14
   Promote Events Designed to Drive TrafÞc to Your Dealership and                                                                                                                          JeffFishel

                               The Secret of the Perfect Handshake
                                                                        15                                                                                                                 PattiWood

                     10 Directives for Developing Via Delegation
                                                                        16                                                                                                                 TomGegax

                                 How to Add to Your Response Rate
                                                                        18                                                                                                                 TonyCantrell

                                  Increasing Your Earning Potential
                                                                        20                                                                                                                 BrianTracy


                                 Follow Up Your Unsold Customers 22
                                          The Key to Success, Part 2                                                                                                                       ChrisHanson

                                                  What is Leadership
                                                                        23                                                                                                                 SeanWolfington


                              is Like Leaving Cash Out in the Open 24
                       Leaving Consumer Information Unsecured                                                                                                                              StacyDiPiazza

                                           I Want to Think About It
                                                                        26                                                                                                                 AnthonyHall


                           Without Spending More on Advertising 27
                               How to Increase Sales by 20 Percent                                                                                                                         MarkTewart


                            Internet Sales by 300 Vehicles in 2004 28
                                     Schomp Automotive Increases                                                                                                                           RayVelasquez

                                                    Demo for Dollars
                                                                        30                                                                                                                 BrianAnkney


           Realigning Staff Can Breathe New Life Into your Dealership 31
                                                 Promoting Changes                                                                                                                         CarolMartin

          Tools for Developing Lifelong Customer Relationships
                                                                        32                                                                                                                 DanVogel


                                                                                                                                                                                           Zachariah 2:13
                                                                                                                                                                                           “Be still before the Lord.”
                                                                                                                                                                                           Even in the fastest wheel that is
                                                                                          3411 Pinnacle Gardens Drive Louisville, Kentucky 40245
                                                                                                                                                                                           turning, if you look at the center
                                                                                          ! Toll Free: 877.818.6620 " Facsimile: 502.588.3170                                              where the axle is found, there is no
                                                                                                                                                                                           movement. And even in the busiest
                                                                                          Patrick Luck, Editor & Publisher                                                                 life we may dwell alone with God in
                                                                                          • pluck01@autosuccess.biz
                                                                                          Susan Givens, Vice President                                                                     eternal stillness.
                                                                                          • sgivens02@autosuccess.biz
                                                                                          Courtney Hill-Paris, Sales-improvement Strategist                                                Lamentations 5;19
                                                                                          • chill-paris04@autosuccess.biz
                                                                                          Brian Ankney, Sales-improvement Strategist
                                                                                                                                                                                           “Thou, O Lord, remainest forever;
                                                                                          • brian01@autosuccess.biz                                                                        thy throne from generation to
 God Bless America                                                                        Thomas Williams, Creative Director
                                                                                          • twilliams03@autosuccess.biz
                                                                                                                                                                                           generation.”

    AutoSuccess Magazine is published monthly at 3411 Pinnacle Gardens Drive, Louisville, Kentucky, 40245; 502.588.3155, fax 502.588.3170. Direct all subscription and customer service inquiries to 877.818.6620 or
    info@autosuccess.biz. Subscription rate is $75 per year. AutoSuccess welcomes unsolicited editorials and graphics (not responsible for their return). All submitted editorials and graphics are subject to editing for grammar, content, and page length. AutoSuccess
    provides its contributing writers latitude in expressing advice and solutions; views expressed are not necessarily those of AutoSuccess and by no means reflect any guarantees. Always confer with legal counsel before implementing changes in procedures.
    © All contents copyrighted by AutoSuccess Magazine, a Division of Systems Marketing, Inc. All rights reserved. Reproduction in whole or part is prohibited without express written consent from AutoSuccess. AutoSuccess
    may occasionally make readers’ names available to other companies whose products and/or services may be of interest; readers may request that names be removed by calling 877.818.6620. Printed in the USA.
    Postmaster: Send address changes to AutoSuccess Magazine, 3411 Pinnacle Gardens Drive, Louisville, Kentucky 40245.
AutoSuccess Jun05
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                                                                                                                                 DavidKain
                      leadership solution




                        A Simple Formula for Internet Success
                       With all the Internet      1. Combination Internet and floor sales            Consider your own experience when you
                       products and services      person – works fine in a small operation           use the Internet. Was it easy? Was it quick?
                       available for dealers      with few leads but the tendency is to favor       Did you feel confident? When you interacted
                       in the market today,       the floor traffic and not offer the best            with the agents, were they knowledgeable
                       one could assume           service to the Internet customer, which           and able to provide you with the information
                       success is really all      could cause them to go elsewhere.                 you needed? Was the experience something
about choosing the right one. Even the best                                                         you want to tell your friends about? If
product or service is dependent on the focus      2. Internet sales person or Internet sales        you can build your process around these
and commitment of the dealership. I wanted        manager – the most common approach                questions, you will undoubtedly be moving
to use this column to line out a formula that     used in dealerships today. The benefit is          in the right direction.
will consistently deliver results when used       full-time focus on the Internet department
by hard working and smart dealers.                without taking floor ups, and lead handling        D. Marketing and lead generating
                                                  is consistent. This is difficult to scale, and     Once you are set on the structure personnel
1. Decide who is ultimately responsible           turnover stops productivity immediately.          and process, it is time to generate some
This is probably the most important step.                                                           leads. There are essentially four sources:
The Internet is still widely misunderstood as     3. Internet with a call center – this is a
a marketing tool for automobile dealers, and      growing trend and born from the BDC                1. Lead aggregators or providers (Dealix,
it needs an internal champion to shepherd         (Business Development Center) strategy             Autobytel, AutoUSA, etc.) – quickest
it through the formative stages. Preferably       of “call” specialists setting appointments         source with large volume opportunity
this is the general manager or general sales      and turning them over to Internet “sales”
manager at the dealership because they have       specialists. This is the most scaleable            2. Online classifieds (AutoTrader.com,
to weave the marketing and Internet sales         but requires a very effective manager to           Cars.com, etc.) – primarily generate
process into the existing marketing and sales     ensure consistent results.                         phone calls for used vehicles
framework.
                                                                                                     3. Manufacturer leads (FordDirect.com,
2. Outline your Internet marketing and            Consider hiring people                             GMBuyPower, etc.) – solid leads and
sales vision                                                                                         typically excellent value
With the cost of operating an Internet            who are sales oriented
department, it is best to line out your vision    who can warm up                                    4. Dealer Web site – best closing rate but
and goals. Do you want to increase sales and
market share? Do you want to grow owner
                                                  people fast, know the                              volumes are typically low

loyalty? Do you want to be number one in          product and processes                             A. Tools
close rate, sales or profits? Do you want          and greet each day                                The basics: Dedicated PCs for each Internet
to be known as the best Internet retailer
in your town, region or nation? Whatever          thinking of the                                   department employee, high-speed Internet
                                                                                                    connection and a lead management tool.
your vision is, I recommend that it be more       opportunities to sell                             Without these in place and being utilized
than “just sell more cars and trucks.” Think      a vehicle.                                        effectively you will never reach your full
of the tale of the three bricklayers – when                                                         potential.
asked what they were doing one said “laying
a brick,” the next said “building another        B. Personnel                                       B. Metrics
wall,” while the third one said “building a      Depending on your structure, the next              You must measure the following to keep on
cathedral.” Your Internet team should know       decision is what type of personnel is required     track.
what they are building.                          and how should they be compensated?
                                                 Consider hiring people who are sales               Weekly: leads, appointments kept, sales and
3. Line out your strategy                        oriented who can warm up people fast, know         gross.
Your strategy is the heavy lifting and           the product and processes and greet each day       Monthly: all above plus measure the lead
requires you to settle on what steps are         thinking of the opportunities to sell a vehicle.   sources by close rate, cost per lead, cost per
necessary to achieve your vision. The            This is a tough environment and requires           vehicle sold and return on investment.
elements of an effective Internet strategy       optimists who can handle rejection and get
include the following items:                     back up and keep asking for the appointment        It’s not simple but if you follow the plan and
                                                 and the sale. Compensation depends on the          adjust to the challenges you can achieve your
A. Structure                                     structure but I recommend a pay plan that          Internet vision.
When deciding on the right structure, think      focuses on “kept appointments” and the
of what will allow for the best consistency      actual vehicle sale.
                                                                                                    David Kain is the automotive Internet
and scalability? There are many types of                                                            training specialist at Kain Automotive Inc.
structures used by dealerships today and, for    C. Process                                         He can be contacted at 800.385.0095, or
the most part, all of them can deliver good      When deciding on the lead handling process,        by e-mail at dkain@autosuccess.biz, or
results. The most common structures are:         it is important to think like the customer.        visit www.kainautomotive.com.


                                                                                                                  www.autosuccess.biz
  8
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                                                                                                                       TonyDupaquier
                           f&i solution




                                            Always Ensure Compliance
                       To ensure compliance,    the product must be sold on its own.                These are two areas that should save you,
                       a business manager                                                           not burn you.
                       must disclose the base   The menu is a great way to ensure legal
                       payment and how          compliance and it must be correct and               Tony Dupaquier is the director of
                       that base payment                                                            F&I training for American Financial &
                                                consistent. If there is ever a legal issue in the   Automotive Services Inc. He can be
                       was calculated. What     business office, the investigators will look at      contacted at 866.856.6754, or by e-mail at
determines a base payment is the amount         the pattern of behavior and the paperwork.          tdupaquier@autosuccess.biz.
financed, the APR and the term used. The
customer must also know that it is possible
to take delivery of the vehicle with the
base payment. Utilizing specific wording
ensures this is disclosed properly: “Mr/
Mrs Customer, this is the amount you are
financing today, and your base payment is
XX,XXX, for XX months, at XX APR, and
that will deliver your new vehicle today.”

It is imperative to explain the base payment
to each customer. If the customer is
unaware of what the base payment is, then
the payment was “packed,” a practice that               Maximize your buying power and reduce
has been deemed unfair and deceptive in
many states. Even if a state does not have a
                                                                 advertising budget.
specific packing law, many attorney generals
are utilizing unfair and deceptive trade
                                                     You sell cars when you’re face to face with
practice laws to prosecute and fine dealers                  prospects not buying media.
and business managers.
                                                        We customize the campaign, work with
  The menu is a great                                     the media and you sell the cars.
  way to ensure legal
  compliance and it                                  “With High Impact Media handling our advertising and
  must be correct and                                coordinating our promotion we sold 69 cars in one weekend, 34 on
  consistent.                                        Saturday!”
                                                     Ramey Chevrolet, Tazewell, VA
The customer must also know that the
optional products are not required to secure
                                                     “High Impact Media stresses consistent, positive advertising. The
financing. A recommended solution is to               last big promotion they planned we had people lined up at the door
have the customer initial the base payment so        waiting for the dealership to open.”
there is no miscommunication of this fact.           Magic City Ford, Roanoke, VA
Another major concern is that the product            “Not only did we sell a lot of cars, our grosses were fantastic!”
disclosed on the menu is the same product
the customer receives. If a business manager
                                                     Ramey Automotive, Richlands, VA
discloses a 5-year, 75,000-mile exclusionary
policy with a $100 deductible, then the              Call today and one of our consultants can show
customer must receive a contract with the
exact same conditions.
                                                     you how we will reduce your advertising cost.
Bundling the products is another way of                              Only one dealership per DMA
packing. Bundling is when a product is
sold in conjunction with another product.
The product that gets bundled the most
is maintenance agreements. If a business
                                                         866.815.2340
manager sells maintenance agreements, then


june 2005
                                                                                                                                         9
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                                                                                                                            ScottJoseph
              marketing solution




                                                                                                   Do You Care
                      How often do you             Why not handle the call like this: “Thank       You see, “with someone” doesn’t evoke the
                      preach that the little       you for calling us, John’s not here right       same negative vibes as “he’s in a meeting.”
                      things make a huge           now… Then add… maybe in the meantime            Being with someone is OK, being in a
                      difference to the way        there’s someway I can help.”                    meeting is never more important that a
                      you and your dealership                                                      customer. The good news is you can always
                      are perceived? My            Check the change in perception there. It        be with yourself! I’ll explain in a moment.
guess is most dealers or business owners           may seem small but small things can have a
probably preach it every day.                      huge impact on results. Instead of the caller   “May I ask who’s calling?”
                                                   talking with an apologetic little sole who’s    YOU WILL NEVER, EVER HEAR THIS
The reality is that customers decide not           simply giving out information, the caller’s     INTERROGATION OF CALLERS AT
to buy and leave – they don’t bother to            now talking with someone who is prepared        J&L MARKETING FROM THIS DAY
schedule an appointment when talking with          to help.                                        FORWARD. Why? Because it doesn’t
you on the phone – they decide to stop doing                                                       matter who’s on the line. Given that we’re
business with you – for reasons other than                                                         not “with someone”, you have every right
price or product.
                                                     You know what;                                to speak with the person you called. So why
                                                                                                   should we interrogate you?
Almost 70 percent of the time, customers             the simple
                                                     truth is that
take their business elsewhere because of                                                           The fact you are a customer or a potential
perceived indifference. The fact is most                                                           customer is enough. There is no way you
customers leave because they think you do
not care. Do you? Clearly you do, it’s just          they probably                                 should put barriers between you and the
                                                                                                   people you serve.
that the customer thinks you don’t. You
know what, perception is everything!
                                                     can help                                      Does that mean you should take every call?
                                                     enormously.                                   No, because you would never get any work
If you want to really maximize the profit
potential of your advertising then begin with        It’s all part of                              done. First, few of us take time out to think
                                                                                                   strategically – we’re too busy fighting fires.
creating a perceived difference.
                                                     empowering                                    So for the next few weeks try this.

The first step to creating a perceived
difference is to pay attention to the words
                                                     people.                                       Allocate a part of your day to be simply “with
                                                                                                   you”, and instruct everyone else that you’re
we use. Many of the words we use everyday                                                          going to be “with yourself (someone)” for a
convey we don’t care. Most of time we use          “Can I take a message?”                         certain amount of hours.
certain words or phrases on the telephone          Replace it with “maybe there’s some way I
– thus killing any chance of persuading the        can help.” Again the difference is small but    Then when a call comes in for you, it will
prospect to visit the showroom. I wonder           critically important.                           get handled like this: “Thanks for calling,
how many more vehicles we would sell by                                                            John is with someone right now, he tells me
just eliminating certain words or phrases.         By forcing everyone to say, “maybe there’s      he will be free at 10:30. In the meantime,
                                                   some way I can help” you’re forcing             maybe there’s some way I can help.”
Here are some phrases for you to immediately       people (in a nice way, of course) to get
eliminate from your store’s vocabulary:            much more involved. So all of a sudden,         You know what; the simple truth is that they
                                                   your receptionist, your front line people       probably can help enormously. It’s all part
     •    “I’m sorry”                              or whoever answers the phone has to get         of empowering people. Try theses ideas they
     •    “He’s in a meeting”                      involved in helping the caller solve the        really do work.
     •    “May I take a message?                   problem.
     •    “Can I ask who’s calling?”                                                               Next month’s article will discuss more
                                                   The effect of that is immense. Imagine the      specific words and phrases your sales
As I sat down to write this editorial I realized   dramatic skill growth that will come for your   staff can use to increase your percentage
my own company is guilty of a few. Let’s all       prime telephone answerers from forcing          of appointments and sell more cars. What
work together and ban them right now!              them to use that phrase.                        will that do for you? The perception of your
                                                                                                   store from customers, prospects and in your
Let’s look at why.                                 “He’s in a meeting”                             community will dramatically improve and
                                                   Do you know what most customers think           your advertising investment will start to pay
“I’m sorry”                                        when they hear that phrase? “Look … when        you much bigger rewards!
Now clearly you do use that phrase if you’ve       will you people get serious about customers
messed up. But please do not use it in this        and stop having meetings all the time.”
scenario:
                                                   Use this phrase instead, “Thanks for calling,   Scott Joseph is the president of J&L
The caller calls and asks to speak to John         John’s with someone right now” … and            Marketing Inc. He can be contacted
Salesman. John’s not in so you hear… “I’m          then of course, you add on the end, “Maybe      at 866.429.6846, or by e-mail at
sorry, John’s not here right now.”                 there’s some way I can help.”                   sjoseph@autosuccess.biz.

                                                                                                                 www.autosuccess.biz
  10
AutoSuccess Jun05
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                                                                                                                              PaulAccinno
    sales and training solution




                         Ofßine Strategies to Build Online TrafÞc
                        Recently much has           means of reaching the largest number of          with radio. (Customer sees and hears your
                        been      said    about     people for the lowest cost per impression.       ad simultaneously with proper frequency).
                        Search          Engine      Remember, all you are trying to do is market     Again, don’t load the board up with copy.
                        Optimization (SEO).         your URL. Five or ten second spots are all       The main element needs to be your URL.
                        This has proven to          that is necessary …”Need a Car or Truck?         Add your brand logos and some short
be an effective means of building online            Visit valuemotors.com”. Short commercials,       copy. That’s it. Remember, it needs to be
traffic. However, SEO should not be the sole         run a lot of times, will establish good reach    immediately readable from a distance at 60
method of marketing your Web site. There            and frequency and provide excellent market       MPH!
are still a lot of shoppers that process offline     coverage. Most TV and cable stations will
information. According to J.D. Power &              produce this simple spot at no charge when       Direct Mail
Associates”…traditional offline advertising          you place your buy.                              With this medium you can target specific
is an extremely effective way to drive traffic                                                        areas of your market, both geographically
to a Web site”. All you are really trying to do     Radio                                            and demographically, i.e. adults 25-34 within
is establish “top of mind” awareness for your       This medium provides mass reach and can          a 20 mile radius of your store. Even though
Web site address so the customer pops your          be used quite efficiently to market your          the Internet covers virtually everywhere,
URL in the browser first and you do not have         URL through news, weather and sports             your best prospects (better closing ratios,
to rely solely on search engines to find your        sponsorships…”Today’s news is brought to         higher grosses, more repeat business etc) are
Web site.                                           you by valuemotors.com…we never close!”          still going to come from your local trading
                                                                                                     area. It doesn’t have to be an expensive
But we are getting ahead of ourselves,                                                               piece; a postcard with your URL and a brief
because the first step in developing any
strategy for building Web traffic is to
                                                     Regardless of                                   message is all it takes. Start by sending it to
                                                                                                     all your existing customers.
establish an Internet Marketing Budget.              which medium or
Like any budget it should be based on                combination of                                  If you do not want to establish an Internet
potential ROI. There are several ways to
determine an Internet Marketing budget. If
                                                     media you choose                                Marketing Budget, then at least make sure
                                                                                                     your URL is included PROMINENTLY
you are looking to sell 50 cars a month on           (a multi-media                                  in your existing advertising. In TV make
the Internet, and your average advertising           approach is always                              sure you “say” your URL as well as video.
cost per new and used vehicle retailed is
$300, then your monthly budget should be
                                                     more effective),                                In radio be sure to repeat your URL just as
                                                                                                     you would your phone number. In print,
no more than $15,000 per month (which                you need to go                                  you can create a boarder that simply repeats
should include the cost of your Web site             ofßine to drive                                 your URL without using up a lot of space. In
and any third party lead services to which
you subscribe). Another method would be
                                                     trafÞc online.                                  Outdoor, make sure your URL can be read
                                                                                                     at a distance at 60 MPH and in direct mail,
to calculate your budget as a percentage                                                             again make sure it is prominent. Be sure to
of gross profit. Again, using 50 units as an         Newspaper                                        discuss with your advertising agency that
example with an average gross per vehicle           To keep costs reasonable you could run           you want your URL prominent in all your
retailed of $1500 and an advertising to gross       “Business Card” size ads in various sections     advertising. Web addresses have a way of
ratio of 25 percent, your budget would be           of the newspaper...classified, sports, and        disappearing from your advertising if you’re
$18,750 per month. Still another method             business etc. Create them in reverse (black      not paying attention!
could be if your Internet sales are 10 percent      background, white type) and they’ll stand
of your business and you want to grow it to         out and only include your URL and a very         Regardless of which medium or combination
15 percent, simply dedicate 15 percent of           brief message like, Need a Car or Truck?         of media you choose (a multi-media
your ad budget to the Internet. Regardless          Visit www.valuemotors.com.                       approach is always more effective), you need
of how you want to calculate it, and what                                                            to go offline to drive traffic online. Keep
different accepted industry guides you use,         Outdoor                                          one thing in mind...with the advent of the
you need to establish a Internet Marketing          This is an excellent medium for automotive       Internet; there are no more customers...just
Budget before you can successfully build            Internet advertising. The customer is in their   prospects!
Web traffic!                                         car, seeing your URL everyday. Half the
                                                    battle is simply getting them to remember
                                                                                                     Paul Accinno is president and CEO of
Television                                          your Web address and outdoor provides            WorldDealer, Inc. He can be contacted at
While television may seem cost prohibitive          the visual support in a dramatic way. It can     866.429.6826, or by e-mail at
for your ad budget, it is still the most efficient   also be used quite effectively in conjunction    paccinno@autosuccess.biz.

                                                                                                                   www.autosuccess.biz
   12
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                                                                                  KirkManzo
    sales and training solution




                         Full Price is a Fair Price
                      The concept seems             these are absolute minimums. Hopefully you
                                                                                                        THANK
                                                                                                         YOU
                      so foreign to many            can improve to one in five full-price sales.
                      dealerships today. The
                      pendulum appears to           In order to accomplish this, use a payment
                      have swung so far in          & down-payment conversation. This will
                      favor of the consumer         yield better results during your negotiations
that most sales people and desk managers            compared with a trade-difference negotiation.        to all of this year’s
concede defeat before the battle even begins.       Whether you choose a traditional four-square
                                                    format or some other proposal presentation,         attendees, speakers
The person you need to sell on Full Price
being a Fair Price is really who? That’s right,
                                                    the focus needs to be on payment and down
                                                    payment to maximize your profit opportunity.           and vendors who
it’s you. How can you convince your sales
person, let alone the customer, to pay full         Deals go from the desk to the customer. The
                                                                                                          helped make the
asking price if in your mind you have already       sales person will then present the proposal
made a concession? Perhaps some of you              and wait for the customer to respond (react)
believe it is not even possible to sell a vehicle   to our figures thus starting the negotiation.
at the full asking price unless that customer
just fell off a turnip truck.
                                                    This contrasts what many sales people do
                                                    today by taking an offer to the desk to begin       BEST PRACTICES
                                                    negotiations. Remember all deals start at
The best way to gauge whether you have the          the desk.
courage and intestinal fortitude to actually do
this is to just ask yourself, “How many Full        Start the first pencil as follows: Market value
List deals did you deliver in the past 30 days?     (MSRP) less rebates (as they apply), use two              A Great
60 days? 90 days?” If the answer is one or          trade figures ($500 spread) higher figure to
none to any of the three time frames, you may
need to sell yourself first.

In the early 1900s there was an Italian
                                                    be ACV less $500-750+, payoff to bank, 20
                                                    percent down payment, payment options at 48
                                                    months two figures with a $10 spread. Use an
                                                    average interest rate for your area to start. (10
                                                                                                        SUCCESS!
mathematician and economist named Vilfredo          percent for this example)
Pareto. He studied business, society and the
environment in search of an explanation             Example:
for the natural distribution of results. His        A.     Market value                   $31,987
findings lead to the ratio that bears his name,             Rebate                           $1,500
The Pareto Principle. Most of you are more                  Adjusted Sale price            $30,487
familiar with the ratio itself: 80/20.              B.     Trade in                         $3,461
                                                                                      up to $3,963
The 80/20 rule simply states that a small
number of people often impact the majority of       C.        Payoff                        $2,750
the results. There are examples and nuances to      D.        Down payment                 $6,097
this principle that are too numerous to mention                                       (20 percent)
here. For our discussion, reality dictates that     E.        48 Months                 $587-597
while the majority of your customers will
behave similarly (80 percent) the minority (20      Your sales person will then ask for a check.
percent) differ in their approach and outcome       “Mr./Mrs. Customer just go ahead and
of purchasing a new vehicle.                        write me a check for $6,097, make that out
                                                    to Thompson Motors and I will get your
Within that 20 percent there is both good           paperwork started.”
news and bad news. Approximately half of
them (10 percent) will be a delight, the other      Then shut up and wait for their response.
half (10 percent), well, they are probably why      Realize some will actually surprise you and
your local bartender knows you by name as           write the check for $6,097. If they do not,
you recall your tales of woe.                       well that’s something we will discuss in next
                                                    month’s article.
One in 10 should pay you all the money.
If this is not happening, there is only one         Go make something happen!
reasonable conclusion: you and/or your sales
person never asked them to pay full price.          Kirk Manzo is the general manager
So if you are not even seeing one in 20 (four       at Ziegler Supersystems. He can be
to five per 100) full pop deals, it’s simply         contacted at 800.858.6903, or by e-mail at
because you are not asking. Bear in mind            kmanzo@autosuccess.biz.

june 2005
                                                                                                                           13
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                                                                                                                               JeffFishel
             marketing solution


                            Promote Events Designed to Drive TrafÞc to Your Dealership and
                          Brand Yourself in Order to Improve Your Image in the Marketplace
                        Car shoppers want         So what happens when two dealers in the         To determine your dealership’s brand
                        the best deal now,        same market stage their events on the same      differences, start by asking yourself these
                        and whoever gives         weekend? What if their offers are similar and   questions:
                        them the best deal        they’re selling identical makes of vehicles?
                        now will get their        In this instance, the dealer who has branded      • If I had to pick only one thing I want
                        business. During event    his or her dealership best will win.                the customers in my market to know
promotions, the customers must also act now                                                           about my dealership, what would it
or they will lose out. This sense of urgency is   William Bernbach states: “In advertising,           be?
why event promoting sells cars.                   not to be different is virtually suicidal.”       • What do I do better than the
                                                                                                      competitors in my marketplace?
                                                                                                    • What can I offer customers in my
                                                                                                      market that my competitors can’t?
                                                                                                    • What do I offer my customers that
                                                                                                      translate into real benefits for them?
                                                                                                    • What makes me special in this
                                                                                                      market?
                                                                                                    • Who is my target market and what
                                                                                                      would my competitors not want my
                                                                                                      target market to know about me?

                                                                                                  Your answers to these questions will be the
                                                                                                  first steps in determining your brand.

                                                                                                  Once you have determined and established
                                                                                                  your brand, you must then advertise it.
                                                                                                  This may include using targeted tag-lines,
                                                                                                  uniform graphics, unique print design,
                                                                                                  custom logos and perhaps a jingle (last
                                                                                                  month’s article) all within your radio, TV,
                                                                                                  Internet and print media.

                                                                                                  Plan your advertising months in advance.
                                                                                                  Planning ahead utilizes your entire budget
                                                                                                  most effectively, allowing you to select
                                                                                                  your best event promotional days, weeks
                                                                                                  and months of the year. Moreover, planning
                                                                                                  ahead saves you up to 40 percent in your
                                                                                                  annual media expenditures allowing you
                                                                                                  more budget for your branding campaigns.

                                                                                                  Combining your monthly brand advertising
                                                                                                  with your event promotions is effective
                                                                                                  because the one consists of the urgent deals
                                                                                                  offered to your marketplace during each
                                                                                                  weekly event promotion. And the other
                                                                                                  gives prospective customers the added
                                                                                                  reasons they need in selecting your store
                                                                                                  over your rival’s.




                                                                                                  Jeff Fishel is the national sales director
                                                                                                  for FishMarketingOnline.net. He can be
                                                                                                  contacted at 866.827.6246, or by e-mail at
                                                                                                  jÞshel@autosuccess.biz.

                                                                                                               www.autosuccess.biz
  14
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                                                                                PattiWood
                       leadership solution


                                          The Secret of
                                 the Perfect Handshake
                      If you know the
                      rules, you give a firm      Although the handshake is rapidly becoming
                      three-to-five      pump     an internationally accepted business greeting,
                      handshake in greeting      Americans shake hands more often than the
                      while          standing    people of other cultures. The handshake can
                      approximately        16    serve as an important verb in your body
inches from the person. In business you          language vocabulary. Few things can create
greet someone in this manner and then            such an effective first impression as an
step back to a minimum of two-and-a-half         easily given, gracious handshake. Based on
feet distance, with no other touch in the        research, here is the best way in American
critical first four minutes of the interaction.   culture to have the perfect handshake.
A handshake allows you to form a first
impression of that person or, if you have met    The Perfect Handshake
them before, to form an impression of them       • Rise, if seated. That rule used to apply
for that interaction.                            to men only; now women should rise, as
                                                 well. If you remain seated when someone
In Western cultures, handshaking is used to      is introduced to you, the communication of
greet another person and “seal” a contract or    personal indifference is unmistakable, not
promise. The handshake is also the quickest,     to mention offensive. The only approved
most effective way to establish rapport with     exception to rising to shake hands is if you
another person. It takes an average of three     are eating. If that is the case, you can wait to
hours of continuous interaction to develop       shake hands until after you are done.
the same level of rapport that you get with
a handshake.                                     • Walk up to the person with confidence.
                                                 Keep your head level and your hands at your
                                                 side. Be sure to keep your hands out of your
 A Þrm handshake                                 pockets. Research indicates that we don’t

 that shows                                      trust people with hands in their pockets.
                                                 Make sure your right hand is free to shake
 strength and                                    hands. Always shift any purses, briefcases,

 vigor with
                                                 papers, beverages or cell phones to your left
                                                 hand before you begin the greeting.
 appropriate eye                                 • Smile briefly. Don’t overdo it. If you smile
 contact length                                  too long or too much, you are perceived
 and completeness                                as submissive. An over-extended smile
                                                 can create negative impressions, such as
 of grip is related                              “overeager,” “easily manipulated” or “not

 to a favorable                                  intelligent.” Women need to take special
                                                 care not to over-extend the smile as it can
 Þrst impression.                                reduce personal power and can even be
                                                 misinterpreted as a sexual come on.

We shake hands to show we hold no weapon.        • Make eye contact. There is a substantial
It is thought to have started with the Roman     amount of research showing that good eye
arm clasp. One man would reach out his           contact increases feelings of trust. Don’t
right hand, his weapon hand, and clasp just      stare, but don’t look at your shoes. Making
below the elbow of the man he was greeting.      eye contact as you approach lets the person
With this greeting neither person could yield    know you want to interact. Men need to
a weapon easily. Medieval knights created        extend the eye contact for at least three
the shaking part of the handshake because        seconds without blinking or looking away as
they knew that other knights hid daggers         they shake hands. Women need to be careful
up in their sleeves and that shaking would       of holding eye contact for more than three
dislodge any hidden weapons. So basically        to five seconds at a time with men they have
handshakes are weapon checks.                                              continued on page 34

june 2005
                                                                                                    15
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                                                                                                                                TomGegax
      sales and training solution


                                                                      10 Directives for
                                                             Developing Via Delegation
                      Leaders who feel they      you. Last, there’s the I-might-lose-control        Top 10 delegation directives:
                      lack the time to think     Syndrome. No problem; people love working          1. Transfer ownership. Be clear: “Here you
                      strategically    don’t     for a control freak in an office gulag.             go. This baby’s all yours now.”
                      use the full potential
                      of their employees. A      Good leaders occasionally use overt non-           2. Tell why. An employee who understands
                      manager must know          delegation to deliver a message. I saw this        why he or she is being asked to handle a task
that effective delegation not only adds to       first-hand while I led Tires Plus. Take the         is more likely to execute it thoroughly.
his or her employees’ development, but           Monday morning Eric Randa, our loss-               3. Get the wheels turning. For complex
frees him or her for more profitable business     prevention czar, and Wayne Shimer stopped          projects, help the delegatee develop an
pursuits.                                        by a Wisconsin Tires Plus store. They              action plan by asking open-ended questions
                                                 walked past soda cans and other weekend            like “How do you see this unfolding?” and
Delegating can be summed up in three             detritus spotting the lawn on their way inside     “What roadblocks do you anticipate, and
words: let ’er rip! It develops employees        only to discover the store manager and two         how will you overcome them?”
like nothing else. Hand over anything your       associates standing around. Now, understand
people can do:                                   that we viewed cleanliness as next to              4. Set deadlines. Mutually agree on a
                                                 godliness, which set us apart in an industry       completion date and time. Otherwise, the
  •   better than you;                           synonymous with “grease monkey” and                task may sink to the bottom of the delegatee’s
  •   quicker than you;                          “industrial waste.” Wayne, a vice president        priority list.
  •   at less cost than you;                     and part owner, walked back outside and, for
                                                                                                    5. Ask for a recap. It’s dangerous to assume
  •   that will add to their development;        all to see, picked up the trash. “You never
                                                                                                    the delegatee perfectly understands the
  •   that will free you for more important      saw Wayne have to pick up trash at that store
                                                                                                    assignment. Always double-check: “To
      pursuits.                                  again,” recalled Eric.
                                                                                                    make sure I communicated properly, please
                                                                                                    explain what you’re planning to do and
Under-delegation is rampant. Many people         Nobody ever accused me of under-
                                                                                                    why.” The answer may surprise you.
who manage by the seat of their pants            delegating. “Tom was a dedicated delegator,”
wear their resistance to parceling out tasks     Wayne recalled. “He forced me to be better         6. Monitor (but don’t smother). The
like a badge of honor. Others conceal their      by making me do things I didn’t think I            point is liberation, so don’t micromanage
reluctance behind a wall of bravado. There       could do. The downside was that Tom was            unless the delegatee is untested or timing is
are myriad excuses for under-delegating.         so strong at it he would over-delegate. His        critical. If he or she starts down the wrong
There’s     the   I-can-do-it-better-myself      logic was that he never knew how far he            path, say something like, “That might
Syndrome, which, even if it’s true, doesn’t      could challenge you to find your endpoint,          work, but have you considered going in this
change the fact that your time would be          and Tom wanted to find that endpoint. If            direction? . . . What do you think that could
better spent elsewhere. There’s the classic I-   your optimum capacity was 98, he wanted            yield and why?”
can-save-time-doing-it-myself Syndrome.          you at 97.9.”
It might take a while to train someone to                                                           7.   No take-backs. Don’t retract an
do a repetitive task, but once it’s learned      I do tend to overload people. But that’s so        assignment at the first sign of trouble. That
you’re home free. Do the math - delegating       they learn to unload lesser priorities. Still,     can kill confidence. Setbacks are learning
just one additional assignment each week         there’s a fine line. You have to trust that your    opportunities, so patiently coach the
to seven people who report to you crosses        people will yell “Uncle!” One time, Wayne          delegatee back on track.
30 assignments off your to-do list every         mentioned the time he had 135 items on
                                                                                                    8. Play to a delegatee’s strong suit. Tailor
month. Another malady is the Somebody-           his Goals Activity Report. He couldn’t get
                                                                                                    assignments to people’s strengths. Don’t
else-might-make-a-mistake         Syndrome.      much help because everyone underneath him
                                                                                                    saddle a big-picture thinker with a detail-
Mistakes will be made, but that’s exactly how    already had full plates. “I just became adept at
                                                                                                    intensive project.
people develop the experience needed to free     figuring out what Tom really wanted done,”
you up for more meaningful activities.           Wayne said. “What were the $10 items, what         9. Don’t duplicate. Assign specific duties to
                                                 were the $5 items, what were the $1 items? I       specific people, with zero overlap. If there
Other conditions that cause under-delegation     took the $10 items and worked the heck out         are two people involved, make it clear who’s
include the Fear-of-giving-the-wrong-            of ’em. If he hit me on an uncompleted $5          in charge.
impression Syndrome, marked by concern           item he’d grill me some, but he never brought
that you’ll appear to be carrying less than      up the $1 items. His motto is, ‘Be tough, not      10. Distribute evenly. Up-and-comers need
your own weight. In fact, respect deepens        rough.’ I’m convinced he walked out of the         challenges, too. Avoid the temptation to
when you place your trust in others and focus    building at night smiling and thinking, ‘Let’s     overload your stars.
on big-picture thinking. There’s also the I-     see how he handles this one.’”
                                                                                                    Tom Gegax is founder and chairman
feel-threatened Syndrome - fear of being                                                            emeritus of Tires Plus and founder of
shown up by a subordinate. That leads to a       Tough-not-rough      delegation     benefits        Gegax Management Systems. He can be
mediocrity mindset and an idle, cynical staff    everyone. Before plopping assignments on           reached at 866.210.2832, or by e-mail at
whose poor performance reflects poorly on         desks, do your delegation due diligence.           tgegax@autosuccess.biz.



                                                                                                                  www.autosuccess.biz
  16
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fs       feature solution
                                                                                                                             TonyCantrell




                                                           How to Add to
                                                      Your Response Rate
Simple additions to your direct mail            your potential customers excited and prompt        in exchange for the free gift. Many sales
campaigns can easily increase your response     them to look for your invitation in the mail.      the following week and month come from
rates and lower your cost per sale. Every       Messages up to thirty seconds long can be          what some would call, “Gift Grabbers.”
store wants more bodies in the showroom         left to convey to your customers the exciting      NADA says that 72 percent of people buy on
as a result of their marketing efforts.         opportunity that is soon to arrive in their        impulse. Gifts can range in price from $.25
Direct mail is one of the quickest and most     mailbox. Messages can be used to condition         to $100 and more. How much is your next
cost effective means to do this. It can be      the customer to call the dealership to set an      sale worth? Adding gifts to your campaign
measured, so continuous improvement is          appointment the day the invitation arrives so      will bring more potential customers in the
possible. Several methods and many new          they can be sure to receive the special rates      door. The Vertis Customer Focus® 2005:
tools have made results possible that dwarf     and/or pricing the invitation makes available      Automotive study, reveals that the number
those only a couple years ago.                  to them. Some dealers and managers like to         one reason for many consumers to buy a new
                                                personally invite the customer to come in and      car is simply because they want one. For 36
One such improvement is Internal Voice          meet them face-to-face so they can receive         percent of the new car purchasers, desire for
Response (IVR). IVR is an automated             the special gift that is waiting for them.         a new automobile will lead them to make a
telephony system that allows potential                                                             purchase within the next 12 months. The

                                                  ... the number
customers to be pre-qualified for an auto                                                           study also revealed that 43 percent of adults
loan based on the factors selected by the                                                          who plan to purchase a new vehicle responded
dealership. The system will ask questions
                                                  one reason                                       to direct mail by visiting the dealer in person,

                                                  for many
such as monthly household income, desired                                                          28 percent visited the sender’s Web site and
monthly payment and job time. Some systems                                                         14 percent called an 800 number. Since direct
are voice responsive and will understand
                                                  consumers                                        mail from an automotive dealer can help

                                                  to buy a new
and move forward based on the customer’s                                                           educate consumers on future purchases, it is
voice answers. Other systems require that                                                          also an effective medium to increase future
the customer respond using the touch-
tone keys on the phone. Bilingual systems
                                                  car is simply                                    dealership traffic.

make this convenience available to your           because they                                     Promotional Insurance is used for exciting
Spanish-speaking customers as well. Next
the system will ask for permission to pull        want one.                                        and incredible giveaways. Large giveaways
                                                                                                   will increase response rates of direct mail
the customer’s credit so you can have access                                                       campaigns by bringing in the buyer who
to the maximum amount of information            Promotional gifts have been used for               feels lucky. How many of your customers
before the customer visits the lot. When        sometime, and remain effective when                pay for lottery tickets? When a car or a
the customer has completed the process,         properly presented in the voicemail and            large cash prize is given away, insurance
the dealership is notified immediately by        direct mail offers. Promotional gifts also         can be purchased for as little as 6 percent of
fax or email. Advanced IVR systems have         remain an inexpensive and effective way to         the cash value. Insurance is available up to
a web interface that allows users to go in to   increase response rates and to promote the         $1,000,000. Insuring a percentage of a car or
the call records, listen to them, assign them   carnival like atmosphere and excitement            cash giveaway gets you the same attention
to salespeople and even tag leads with their    level that can lead to buying frenzies. The        and publicity with less risk and little
status in the sales process.                    gift will also bring in the buyer who is riding    additional expense. Take the time to find out
                                                the fence or just deciding to enter the market.    if promotional insurance is right for you.
Another innovation that improves the            This justifies the visit and if nothing else this
effectiveness of direct mail is Voice Mail      customer will often feel obligated to give         The effectiveness of Web surveys has grown
Broadcasting (VMB). A VMB tool will get         you a chance to earn his or her business           exponentially over the past couple of years.




                                                                                                                 www.autosuccess.biz
  18
Web surveys are very similar to internal            planning on buying a new vehicle             while Generation Y adults are six
voice response programs but instead of the          within the next 12 months because            percent more likely than total adults
phone, they use the computer. Customers             they need one for work, while 4              to be motivated by the same factor.
are directed to a Web site that will ask the        percent need one because they have a       • Of the Younger Baby Boomers
questions needed to get the customer pre-           new driver in the family and 3 percent       (1956-1964) surveyed, 21 percent
qualified. Questions about their wants and           can afford a better car.                     said a rebate offer motivates them to
needs give the dealership the ammunition          • Only 5 percent of new car purchasers         visit a dealer when shopping for an
to deliver these customers when they                are planning on making a purchase            automobile, compared to 16 percent
arrive for their scheduled appointments. A          within the next 12 months based on           of total adults.
multiple-choice format allows the customer          lower prices, lower interest/financing      • Generation Y adults are 5 percent
to design their own close by sharing the            or price incentives.                         more likely than total adults to be
types of incentives and discounts that                                                           motivated by a special trade-in offer.
motivate them to make a buying decision.        Men More Likely to Purchase a New Car.
When the survey is completed the customer         • 24 percent of single Generation Y        What Makes Auto Loan Applicants Open
is informed that they have won a prize and          (1977-1994) men stated they plan         Direct Mail?
they are directed to the dealership Web site        to purchase a new vehicle within the       • 66 percent of direct mail readers who
or showroom floor. Upon completion, the              next 12 months.                              plan to apply for an auto loan said
results are immediately faxed or emailed to       • In comparison, 16 percent of                 they are more likely to open a package
the dealership for follow-up. These are the         Generation Y women have plans to             that looks interesting.
hottest leads and should be called within 15        purchase a new vehicle within the          • Of the direct mail readers who have
minutes with a deal structured the way the          next 12 months.                              plans to apply for an auto loan, 64
customer said they like to buy.                   • 20 percent of men with a household           percent are more likely to open a piece
                                                    income of $75,000+ and some college          based on the timing of its arrival.
There are a number of ways to compliment            education have plans to purchase a         • For 60 percent of direct mail readers
a direct mail campaign. Economies of scale          new automobile within the next 12            who plan to apply for an auto loan,
can be realized by finding a company that            months.                                      having their name on the front of the
is large enough to handle every step of the       • Similarly, 15 percent of women with          envelope will influence their decision
process. Direct mail will increase the sales,       a household income of $50,000+ and           to open.
profits, and most importantly, bottom line.          some college education reported they       • 57 percent of direct mail readers who
                                                    plan to purchase a new automobile            plan to apply for an auto loan are
When considering direct mail, keep in               within the next 12 months.                   more likely than total adults to open
mind these useful statistics provided by the                                                     packages that contain a special offer
Vertis Customer Focus® 2005: Automotive         Main Incentives Motivating Adults to Visit       or discount.
study.                                          a Dealership.
                                                  • 32 percent of Generation X (1965-
Top Reasons Why Adults Are Buying                   1976) adults were motivated to visit a
New Cars                                            dealership based on price incentives;
  • 8 percent of the new car purchasers             five percent more than the average
    said they are motivated to purchase a           adult.
    new car because of their current auto’s       • Generation X adults are 9 percent        Tony Cantrell is the president and CEO
                                                                                             of Automotive Consulting Co. He can be
    mechanical problems.                            more likely than total adults to be      contacted at 800.901.2859, or by e-mail at
  • 11 percent of new car purchasers are            motivated by a special financing offer,   tcantrell@autosuccess.biz.




june 2005
                                                                                                                                  19
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                                                                                                                                     BrianTracy
    sales and training solution




                                Increasing Your Earning Potential
                      Throughout most of            field is probably doubling every five years,         ability is largely determined by the perception
                      human history, we             this means that fully 20 percent of your           of excellence, quality, and value that others
                      have been accustomed          knowledge and your ability in your field is         have of you and what you do. The market
                      to evolution, or the          becoming obsolete each year. Ask yourself,         only pays excellent rewards for excellent
                      gradual changing and          “What parts of my knowledge, skills and            performance. It pays average rewards for
                      progressing of events         work are becoming obsolete? What am I              average performance, and it pays below
in a straight line. Sometimes the process           doing today that is different than what I was      average rewards or unemployment for below
of change was faster and sometimes it was           doing one year ago and two years ago?” What        average performance. Customers today want
slower, but it almost always seemed to be           are you likely to be doing one year, two years,    the very most and the very best for the very
progressive, from one step to the other,            three years, four years and five years from         least amount of money, and on the best terms.
allowing you some opportunities for planning,       today? What knowledge and skills will you          Only the individuals and companies that
predicting and changing.                            need and how will you acquire them? What           provide absolutely excellent products and
                                                    is your plan for your economic and financial        services at absolutely excellent prices will
Today, however, the rate of change is not only      future?                                            survive. It’s not personal. It’s just the way our
faster than ever before, but it is discontinuous.                                                      economy works.
It is taking place in a variety of unconnected      We are now in the knowledge age. Today, the
areas and affecting each of us in a variety of      chief factors of production are knowledge          To earn more, you must learn more. You
unexpected ways. Changes in information             and the ability to apply that knowledge to         are maxed out today at your current level
processing technologies are happening               achieving results for other people. Your           of knowledge and skill. However much you
separately from changes in medicine, changes        earning ability today is largely dependent         are earning at this moment is the maximum
in transportation, changes in education, changes    upon your knowledge, skill and your ability        you can earn without learning and practicing
in politics and changes in global competition.      to combine that knowledge and skill in such        something new and different.
Changes in family formation and relationships       a way that you contribute value for which
are happening separately from the rise and fall     customers are going to pay.                        And here’s the rub. Your accumulated
of new businesses and industries in different                                                          knowledge and experience is becoming
parts of the country. And if anything, this         The Law of Three says that you must                obsolete bit by bit, day by day. The knowledge
rate of accelerated, discontinuous change is        contribute three dollars of profit for every        in your field is doubling every three to five
increasing. As a result, most of us are already     dollar that you wish to earn in salary. It costs   years. That means that your knowledge must
suffering from what Alvin Toffler once called,       a company approximately double your salary         double every three to five years just for you
“future shock.”                                     to employ you in terms of space, benefits,          to stay even.
                                                    supervision, and investment in furniture,
You can’t do very much about the enormity           fixtures, and other resources. For a company        The solution to the dilemma of unavoidable
of these changes, but the one thing that you        to hire you, they have to make a profit on what     change and restructuring is continuous self-
can do is to think seriously about yourself and     they pay you. Therefore, you must contribute       development. Your personal knowledge and
your basic need for security and stability. In no   value greatly in excess of the amount you          your ability to apply that knowledge are
area is this more important than in the areas of    earn in order to stay employed. To put it          your most valuable assets. To stay on top
job security and financial security. You must        another way, your earning ability must be          of your world, you must continually add to
give special attention to your ability to make      considerably greater than the amount you are       your knowledge and your ability. You must
a good living and provide for yourself in the       receiving, or you will find yourself looking        continually build up your mental assets if
months and years ahead.                             for another job.                                   you want to enjoy a continuous return on
                                                                                                       your investment. And only by building on
Above all, to position yourself for tomorrow,       To position yourself for tomorrow, here is         your current assets do you stop them from
you must think continuously and seriously           one of the most important rules you will ever      deteriorating.
about your work today, your earning ability,        learn: “The future belongs to the competent.”
and the work that you will be doing one,            The future belongs to those men and women          By engaging in continuous self-improvement,
three, and five years from today. You must           who are very good at what they do. Pat Riley,      you can put yourself behind the wheel of your
plan to achieve your own financial security,         in his book The Winner Within, wrote that, “If     own life. By dedicating yourself to enhancing
no matter what happens.                             you are not committed to getting better at what    your earning ability, you will automatically
                                                    you are doing, you are bound to get worse.”        be engaging in the continuous process of
Charles Kettering said that you should give         To phrase it another way, anything less than       personal development. By learning more, you
a lot of thought to the future because that is      a commitment to excellent performance on           prepare yourself to earn more. You position
where you are going to spend the rest of your       your part is an unconscious acceptance of          yourself for tomorrow by developing the
life. One of the greatest mistakes that people      mediocrity. It used to be that you needed to be    knowledge and skills that you need to be a
can make, and the one with the worst long-          excellent to rise above the competition in your    valuable and productive part of our economy,
term consequences, is to think only about the       industry. Today, you must be excellent even to     no matter which direction it goes.
present and give very little thought to what        keep your job in your industry.
might happen in the months and years ahead.                                                            Brian Tracy is the chairman and CEO
                                                    Excellence, quality, and value are absolutely      of Brian Tracy International. He can be
Imagine what your job will look like five            essential elements of any product or service,      contacted at 866.300.9881, or by e-mail at
years from today. Since knowledge in your           and of the work of any person. Your earning        btracy@autosuccess.biz.

                                                                                                                      www.autosuccess.biz
  20
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AutoSuccess Jun05

  • 1. Read this month’s and previous issues online at www.AutoSuccess.biz .biz How to Add to Your Response Rate Tony Cantrell
  • 2. BEFORE YOU SPEND ANOTHER DOLLAR ON THE NEWSPAPER CLASSIFIEDS, READ THIS. Only 7% of newspaper readers surpassed the newspaper as the number-one source are looking for a used car. people use to find a car. At AutoTrader.com, virtually all A lot of people advertise in the newspaper simply of the nine million monthly visitors are looking to buy a because they have for years. But when you really look at the car within the next 60 days. Also, the majority of number of newspaper readers who AutoTrader.com users are looking to are actually looking for a car, it’s buy within 25 miles of their home. When not very impressive. In fact, you consider all of this, you’ll realize that newspaper circulation continues you can list your car in the newspaper, to decline, and the Internet has or you can sell it on AutoTrader.com. Still using the newspaper as your main vehicle to reach car buyers? It’s time to partner with AutoTrader.com. For more information, call 1-888-249-6860. ©2005 AutoTrader.com is a trademark of TPI Holdings, Inc. and is used under license.
  • 3. ATTENTION DEALER C M Rey Rey & w e b s y s t e m s Cobalt dealers!! Dealer Websites Lead Management Web Marketing Upgrade to Dealer.com wins again!! Dealer.com with Congratulations on winning the NO set up fees GOLDEN Award for best dealer during June, websites nationwide!!! ** See these websites at www.dealer.com/winners/ Why are more dealers switching to Dealer.com??..... 5 simple reasons! 1 We offer the best search engine marketing system on the planet! Generate leads for under $15 and brand YOUR dealership! 2 Dealer.com is the most recent NADA award winner for best new car dealer websites, nationwide! 3 More features: Media rich broadcast email tools, specials builders, better inventory listings, plus several new vehicle configurators to choose from! 4 More automation for more profits! Automated inventory updates, SmartCoupons™, and Automated follow up emails with vehicle info & photos 24-7! 5 We offer FREE 24-7 support from real people, free training from the most experienced internet sales pros in the industry! Contact Dealer.com today to receive a free demo and up to 75 website samples of your dealership website the same day! Email: Sales@dealer.com Learn The Power of 1 Website: www.dealer.com Phone: 888-807-9116 **Website award awarded by AutoDealerMonthy annually to the best providers nationwide.
  • 4. Are you tired of struggling to train salespeople? Burned out from chasing untrained salespeople around? Revolutionary Distance Learning Program: “Puts Sales Training on Auto-Pilot So You Can Sell More Vehicles!” “We use Mark Tewart’s Would you like to be able to train your salespeople to properly sell more vehicles Distance Learning Program without all the hassle usually involved? Do you have the time or patience to spend endlessly training new salespeople how to sell or retrain old dog’s new tricks? every day and our sales and gross proÞt keep going up If you’d like to have complete control over your training process, regardless of your schedule, how much business you do or don’t have or any other condition and put because of it.” an end to the endless grunt work of training, keep reading. Chad Hawkes, Dealer Do you get tired of sending salespeople to the latest and greatest feel-good, rah- Hawkes Motor Co. rah seminars that give your salespeople the Sunburn-Effect? You know what I’m Pryor , OK talking about, the salespeople get hyped-up but it wears off after two weeks stuff that leaves their heads and their wallets empty. If you would rather be able to have your salespeople trained everyday automatically “We love the training, it’s and have a built-in accountability tool to gauge the training and evaluate the simple, effective and this salespersons results from the training, Well, It’s finally here! has cut our training costs while increasing our skills Distance Learning Program from Tewart Enterprises This new technology allows your salespeople to train from any computer with and sales. The bottom line is speakers and an internet connection 24 hours a day - 7 days a week. Plus it allows simple, THIS WORKS!” you to hold the salespeople accountable for when and if they did the training! Ernie Parisi, Manager Increase Sales, Profits and Customer Satisfaction, Bradenton Hyundai While You Also, Decrease Costs, Hassles and Wasted Time. Bradenton , FL That’s not all - No Contracts, No Commitments, and No Problems! For More Information and a Simple Demonstration: “Frankly, this is a no- 1. Call our office at 888 2 tewart (888-283-9278) brainer. The information 2. Email us at info@tewart.com is Þrst class. It’s simple to 3. Fax a copy of your business card with the word use, convenient and we training written on it to 513 934-4588 have increased sales by P.S. Contact us by June 24th and receive a Free Special Report: “How to Recruit, 20 vehicles a month and Hire, Train and Dream Team of Salespeople” increased gross proÞt by $200 per car. It’s not by P.P.S. BONUS - The first 10 people to sign up for this revolutionary training from this notice will receive Mark Tewart’s NEW DVD accident” Seth Silger, General “HIGH PERFORMANCE SELLING” Manager With Over 6 Hours of AWESOME information. - A $597 Value for Free Ward Chrysler P.P.P.S. For a Free newsletter go to: www.tewart.com and click on subscribe Carbondale, IL Tewart Enterprises Inc. 1999 Kirby Rd. Lebanon, OH. 45036 888 2 Tewart / 513 932-9526 email: info@tewart.com web: www.tewart.com
  • 6. 8 A Simple Formula for Internet Success DavidKain Always Ensure Compliance 9 TonyDupaquier INSID Do You Care Ofßine Strategies to Build Online TrafÞc Full Price is a Fair Price 10 12 13 ScottJoseph PaulAccinno KirkManzo Brand Yourself in Order to Improve Your Image in the Marketplace 14 Promote Events Designed to Drive TrafÞc to Your Dealership and JeffFishel The Secret of the Perfect Handshake 15 PattiWood 10 Directives for Developing Via Delegation 16 TomGegax How to Add to Your Response Rate 18 TonyCantrell Increasing Your Earning Potential 20 BrianTracy Follow Up Your Unsold Customers 22 The Key to Success, Part 2 ChrisHanson What is Leadership 23 SeanWolfington is Like Leaving Cash Out in the Open 24 Leaving Consumer Information Unsecured StacyDiPiazza I Want to Think About It 26 AnthonyHall Without Spending More on Advertising 27 How to Increase Sales by 20 Percent MarkTewart Internet Sales by 300 Vehicles in 2004 28 Schomp Automotive Increases RayVelasquez Demo for Dollars 30 BrianAnkney Realigning Staff Can Breathe New Life Into your Dealership 31 Promoting Changes CarolMartin Tools for Developing Lifelong Customer Relationships 32 DanVogel Zachariah 2:13 “Be still before the Lord.” Even in the fastest wheel that is 3411 Pinnacle Gardens Drive Louisville, Kentucky 40245 turning, if you look at the center ! Toll Free: 877.818.6620 " Facsimile: 502.588.3170 where the axle is found, there is no movement. And even in the busiest Patrick Luck, Editor & Publisher life we may dwell alone with God in • pluck01@autosuccess.biz Susan Givens, Vice President eternal stillness. • sgivens02@autosuccess.biz Courtney Hill-Paris, Sales-improvement Strategist Lamentations 5;19 • chill-paris04@autosuccess.biz Brian Ankney, Sales-improvement Strategist “Thou, O Lord, remainest forever; • brian01@autosuccess.biz thy throne from generation to God Bless America Thomas Williams, Creative Director • twilliams03@autosuccess.biz generation.” AutoSuccess Magazine is published monthly at 3411 Pinnacle Gardens Drive, Louisville, Kentucky, 40245; 502.588.3155, fax 502.588.3170. Direct all subscription and customer service inquiries to 877.818.6620 or info@autosuccess.biz. Subscription rate is $75 per year. AutoSuccess welcomes unsolicited editorials and graphics (not responsible for their return). All submitted editorials and graphics are subject to editing for grammar, content, and page length. AutoSuccess provides its contributing writers latitude in expressing advice and solutions; views expressed are not necessarily those of AutoSuccess and by no means reflect any guarantees. Always confer with legal counsel before implementing changes in procedures. © All contents copyrighted by AutoSuccess Magazine, a Division of Systems Marketing, Inc. All rights reserved. Reproduction in whole or part is prohibited without express written consent from AutoSuccess. AutoSuccess may occasionally make readers’ names available to other companies whose products and/or services may be of interest; readers may request that names be removed by calling 877.818.6620. Printed in the USA. Postmaster: Send address changes to AutoSuccess Magazine, 3411 Pinnacle Gardens Drive, Louisville, Kentucky 40245.
  • 8. sts ms ls fis sf DavidKain leadership solution A Simple Formula for Internet Success With all the Internet 1. Combination Internet and floor sales Consider your own experience when you products and services person – works fine in a small operation use the Internet. Was it easy? Was it quick? available for dealers with few leads but the tendency is to favor Did you feel confident? When you interacted in the market today, the floor traffic and not offer the best with the agents, were they knowledgeable one could assume service to the Internet customer, which and able to provide you with the information success is really all could cause them to go elsewhere. you needed? Was the experience something about choosing the right one. Even the best you want to tell your friends about? If product or service is dependent on the focus 2. Internet sales person or Internet sales you can build your process around these and commitment of the dealership. I wanted manager – the most common approach questions, you will undoubtedly be moving to use this column to line out a formula that used in dealerships today. The benefit is in the right direction. will consistently deliver results when used full-time focus on the Internet department by hard working and smart dealers. without taking floor ups, and lead handling D. Marketing and lead generating is consistent. This is difficult to scale, and Once you are set on the structure personnel 1. Decide who is ultimately responsible turnover stops productivity immediately. and process, it is time to generate some This is probably the most important step. leads. There are essentially four sources: The Internet is still widely misunderstood as 3. Internet with a call center – this is a a marketing tool for automobile dealers, and growing trend and born from the BDC 1. Lead aggregators or providers (Dealix, it needs an internal champion to shepherd (Business Development Center) strategy Autobytel, AutoUSA, etc.) – quickest it through the formative stages. Preferably of “call” specialists setting appointments source with large volume opportunity this is the general manager or general sales and turning them over to Internet “sales” manager at the dealership because they have specialists. This is the most scaleable 2. Online classifieds (AutoTrader.com, to weave the marketing and Internet sales but requires a very effective manager to Cars.com, etc.) – primarily generate process into the existing marketing and sales ensure consistent results. phone calls for used vehicles framework. 3. Manufacturer leads (FordDirect.com, 2. Outline your Internet marketing and Consider hiring people GMBuyPower, etc.) – solid leads and sales vision typically excellent value With the cost of operating an Internet who are sales oriented department, it is best to line out your vision who can warm up 4. Dealer Web site – best closing rate but and goals. Do you want to increase sales and market share? Do you want to grow owner people fast, know the volumes are typically low loyalty? Do you want to be number one in product and processes A. Tools close rate, sales or profits? Do you want and greet each day The basics: Dedicated PCs for each Internet to be known as the best Internet retailer in your town, region or nation? Whatever thinking of the department employee, high-speed Internet connection and a lead management tool. your vision is, I recommend that it be more opportunities to sell Without these in place and being utilized than “just sell more cars and trucks.” Think a vehicle. effectively you will never reach your full of the tale of the three bricklayers – when potential. asked what they were doing one said “laying a brick,” the next said “building another B. Personnel B. Metrics wall,” while the third one said “building a Depending on your structure, the next You must measure the following to keep on cathedral.” Your Internet team should know decision is what type of personnel is required track. what they are building. and how should they be compensated? Consider hiring people who are sales Weekly: leads, appointments kept, sales and 3. Line out your strategy oriented who can warm up people fast, know gross. Your strategy is the heavy lifting and the product and processes and greet each day Monthly: all above plus measure the lead requires you to settle on what steps are thinking of the opportunities to sell a vehicle. sources by close rate, cost per lead, cost per necessary to achieve your vision. The This is a tough environment and requires vehicle sold and return on investment. elements of an effective Internet strategy optimists who can handle rejection and get include the following items: back up and keep asking for the appointment It’s not simple but if you follow the plan and and the sale. Compensation depends on the adjust to the challenges you can achieve your A. Structure structure but I recommend a pay plan that Internet vision. When deciding on the right structure, think focuses on “kept appointments” and the of what will allow for the best consistency actual vehicle sale. David Kain is the automotive Internet and scalability? There are many types of training specialist at Kain Automotive Inc. structures used by dealerships today and, for C. Process He can be contacted at 800.385.0095, or the most part, all of them can deliver good When deciding on the lead handling process, by e-mail at dkain@autosuccess.biz, or results. The most common structures are: it is important to think like the customer. visit www.kainautomotive.com. www.autosuccess.biz 8
  • 9. sts ms ls fis sf TonyDupaquier f&i solution Always Ensure Compliance To ensure compliance, the product must be sold on its own. These are two areas that should save you, a business manager not burn you. must disclose the base The menu is a great way to ensure legal payment and how compliance and it must be correct and Tony Dupaquier is the director of that base payment F&I training for American Financial & consistent. If there is ever a legal issue in the Automotive Services Inc. He can be was calculated. What business office, the investigators will look at contacted at 866.856.6754, or by e-mail at determines a base payment is the amount the pattern of behavior and the paperwork. tdupaquier@autosuccess.biz. financed, the APR and the term used. The customer must also know that it is possible to take delivery of the vehicle with the base payment. Utilizing specific wording ensures this is disclosed properly: “Mr/ Mrs Customer, this is the amount you are financing today, and your base payment is XX,XXX, for XX months, at XX APR, and that will deliver your new vehicle today.” It is imperative to explain the base payment to each customer. If the customer is unaware of what the base payment is, then the payment was “packed,” a practice that Maximize your buying power and reduce has been deemed unfair and deceptive in many states. Even if a state does not have a advertising budget. specific packing law, many attorney generals are utilizing unfair and deceptive trade You sell cars when you’re face to face with practice laws to prosecute and fine dealers prospects not buying media. and business managers. We customize the campaign, work with The menu is a great the media and you sell the cars. way to ensure legal compliance and it “With High Impact Media handling our advertising and must be correct and coordinating our promotion we sold 69 cars in one weekend, 34 on consistent. Saturday!” Ramey Chevrolet, Tazewell, VA The customer must also know that the optional products are not required to secure “High Impact Media stresses consistent, positive advertising. The financing. A recommended solution is to last big promotion they planned we had people lined up at the door have the customer initial the base payment so waiting for the dealership to open.” there is no miscommunication of this fact. Magic City Ford, Roanoke, VA Another major concern is that the product “Not only did we sell a lot of cars, our grosses were fantastic!” disclosed on the menu is the same product the customer receives. If a business manager Ramey Automotive, Richlands, VA discloses a 5-year, 75,000-mile exclusionary policy with a $100 deductible, then the Call today and one of our consultants can show customer must receive a contract with the exact same conditions. you how we will reduce your advertising cost. Bundling the products is another way of Only one dealership per DMA packing. Bundling is when a product is sold in conjunction with another product. The product that gets bundled the most is maintenance agreements. If a business 866.815.2340 manager sells maintenance agreements, then june 2005 9
  • 10. sts ms ls fis sf ScottJoseph marketing solution Do You Care How often do you Why not handle the call like this: “Thank You see, “with someone” doesn’t evoke the preach that the little you for calling us, John’s not here right same negative vibes as “he’s in a meeting.” things make a huge now… Then add… maybe in the meantime Being with someone is OK, being in a difference to the way there’s someway I can help.” meeting is never more important that a you and your dealership customer. The good news is you can always are perceived? My Check the change in perception there. It be with yourself! I’ll explain in a moment. guess is most dealers or business owners may seem small but small things can have a probably preach it every day. huge impact on results. Instead of the caller “May I ask who’s calling?” talking with an apologetic little sole who’s YOU WILL NEVER, EVER HEAR THIS The reality is that customers decide not simply giving out information, the caller’s INTERROGATION OF CALLERS AT to buy and leave – they don’t bother to now talking with someone who is prepared J&L MARKETING FROM THIS DAY schedule an appointment when talking with to help. FORWARD. Why? Because it doesn’t you on the phone – they decide to stop doing matter who’s on the line. Given that we’re business with you – for reasons other than not “with someone”, you have every right price or product. You know what; to speak with the person you called. So why should we interrogate you? Almost 70 percent of the time, customers the simple truth is that take their business elsewhere because of The fact you are a customer or a potential perceived indifference. The fact is most customer is enough. There is no way you customers leave because they think you do not care. Do you? Clearly you do, it’s just they probably should put barriers between you and the people you serve. that the customer thinks you don’t. You know what, perception is everything! can help Does that mean you should take every call? enormously. No, because you would never get any work If you want to really maximize the profit potential of your advertising then begin with It’s all part of done. First, few of us take time out to think strategically – we’re too busy fighting fires. creating a perceived difference. empowering So for the next few weeks try this. The first step to creating a perceived difference is to pay attention to the words people. Allocate a part of your day to be simply “with you”, and instruct everyone else that you’re we use. Many of the words we use everyday going to be “with yourself (someone)” for a convey we don’t care. Most of time we use “Can I take a message?” certain amount of hours. certain words or phrases on the telephone Replace it with “maybe there’s some way I – thus killing any chance of persuading the can help.” Again the difference is small but Then when a call comes in for you, it will prospect to visit the showroom. I wonder critically important. get handled like this: “Thanks for calling, how many more vehicles we would sell by John is with someone right now, he tells me just eliminating certain words or phrases. By forcing everyone to say, “maybe there’s he will be free at 10:30. In the meantime, some way I can help” you’re forcing maybe there’s some way I can help.” Here are some phrases for you to immediately people (in a nice way, of course) to get eliminate from your store’s vocabulary: much more involved. So all of a sudden, You know what; the simple truth is that they your receptionist, your front line people probably can help enormously. It’s all part • “I’m sorry” or whoever answers the phone has to get of empowering people. Try theses ideas they • “He’s in a meeting” involved in helping the caller solve the really do work. • “May I take a message? problem. • “Can I ask who’s calling?” Next month’s article will discuss more The effect of that is immense. Imagine the specific words and phrases your sales As I sat down to write this editorial I realized dramatic skill growth that will come for your staff can use to increase your percentage my own company is guilty of a few. Let’s all prime telephone answerers from forcing of appointments and sell more cars. What work together and ban them right now! them to use that phrase. will that do for you? The perception of your store from customers, prospects and in your Let’s look at why. “He’s in a meeting” community will dramatically improve and Do you know what most customers think your advertising investment will start to pay “I’m sorry” when they hear that phrase? “Look … when you much bigger rewards! Now clearly you do use that phrase if you’ve will you people get serious about customers messed up. But please do not use it in this and stop having meetings all the time.” scenario: Use this phrase instead, “Thanks for calling, Scott Joseph is the president of J&L The caller calls and asks to speak to John John’s with someone right now” … and Marketing Inc. He can be contacted Salesman. John’s not in so you hear… “I’m then of course, you add on the end, “Maybe at 866.429.6846, or by e-mail at sorry, John’s not here right now.” there’s some way I can help.” sjoseph@autosuccess.biz. www.autosuccess.biz 10
  • 12. sts ms ls fis sf PaulAccinno sales and training solution Ofßine Strategies to Build Online TrafÞc Recently much has means of reaching the largest number of with radio. (Customer sees and hears your been said about people for the lowest cost per impression. ad simultaneously with proper frequency). Search Engine Remember, all you are trying to do is market Again, don’t load the board up with copy. Optimization (SEO). your URL. Five or ten second spots are all The main element needs to be your URL. This has proven to that is necessary …”Need a Car or Truck? Add your brand logos and some short be an effective means of building online Visit valuemotors.com”. Short commercials, copy. That’s it. Remember, it needs to be traffic. However, SEO should not be the sole run a lot of times, will establish good reach immediately readable from a distance at 60 method of marketing your Web site. There and frequency and provide excellent market MPH! are still a lot of shoppers that process offline coverage. Most TV and cable stations will information. According to J.D. Power & produce this simple spot at no charge when Direct Mail Associates”…traditional offline advertising you place your buy. With this medium you can target specific is an extremely effective way to drive traffic areas of your market, both geographically to a Web site”. All you are really trying to do Radio and demographically, i.e. adults 25-34 within is establish “top of mind” awareness for your This medium provides mass reach and can a 20 mile radius of your store. Even though Web site address so the customer pops your be used quite efficiently to market your the Internet covers virtually everywhere, URL in the browser first and you do not have URL through news, weather and sports your best prospects (better closing ratios, to rely solely on search engines to find your sponsorships…”Today’s news is brought to higher grosses, more repeat business etc) are Web site. you by valuemotors.com…we never close!” still going to come from your local trading area. It doesn’t have to be an expensive But we are getting ahead of ourselves, piece; a postcard with your URL and a brief because the first step in developing any strategy for building Web traffic is to Regardless of message is all it takes. Start by sending it to all your existing customers. establish an Internet Marketing Budget. which medium or Like any budget it should be based on combination of If you do not want to establish an Internet potential ROI. There are several ways to determine an Internet Marketing budget. If media you choose Marketing Budget, then at least make sure your URL is included PROMINENTLY you are looking to sell 50 cars a month on (a multi-media in your existing advertising. In TV make the Internet, and your average advertising approach is always sure you “say” your URL as well as video. cost per new and used vehicle retailed is $300, then your monthly budget should be more effective), In radio be sure to repeat your URL just as you would your phone number. In print, no more than $15,000 per month (which you need to go you can create a boarder that simply repeats should include the cost of your Web site ofßine to drive your URL without using up a lot of space. In and any third party lead services to which you subscribe). Another method would be trafÞc online. Outdoor, make sure your URL can be read at a distance at 60 MPH and in direct mail, to calculate your budget as a percentage again make sure it is prominent. Be sure to of gross profit. Again, using 50 units as an Newspaper discuss with your advertising agency that example with an average gross per vehicle To keep costs reasonable you could run you want your URL prominent in all your retailed of $1500 and an advertising to gross “Business Card” size ads in various sections advertising. Web addresses have a way of ratio of 25 percent, your budget would be of the newspaper...classified, sports, and disappearing from your advertising if you’re $18,750 per month. Still another method business etc. Create them in reverse (black not paying attention! could be if your Internet sales are 10 percent background, white type) and they’ll stand of your business and you want to grow it to out and only include your URL and a very Regardless of which medium or combination 15 percent, simply dedicate 15 percent of brief message like, Need a Car or Truck? of media you choose (a multi-media your ad budget to the Internet. Regardless Visit www.valuemotors.com. approach is always more effective), you need of how you want to calculate it, and what to go offline to drive traffic online. Keep different accepted industry guides you use, Outdoor one thing in mind...with the advent of the you need to establish a Internet Marketing This is an excellent medium for automotive Internet; there are no more customers...just Budget before you can successfully build Internet advertising. The customer is in their prospects! Web traffic! car, seeing your URL everyday. Half the battle is simply getting them to remember Paul Accinno is president and CEO of Television your Web address and outdoor provides WorldDealer, Inc. He can be contacted at While television may seem cost prohibitive the visual support in a dramatic way. It can 866.429.6826, or by e-mail at for your ad budget, it is still the most efficient also be used quite effectively in conjunction paccinno@autosuccess.biz. www.autosuccess.biz 12
  • 13. sts ms ls fis sf KirkManzo sales and training solution Full Price is a Fair Price The concept seems these are absolute minimums. Hopefully you THANK YOU so foreign to many can improve to one in five full-price sales. dealerships today. The pendulum appears to In order to accomplish this, use a payment have swung so far in & down-payment conversation. This will favor of the consumer yield better results during your negotiations that most sales people and desk managers compared with a trade-difference negotiation. to all of this year’s concede defeat before the battle even begins. Whether you choose a traditional four-square format or some other proposal presentation, attendees, speakers The person you need to sell on Full Price being a Fair Price is really who? That’s right, the focus needs to be on payment and down payment to maximize your profit opportunity. and vendors who it’s you. How can you convince your sales person, let alone the customer, to pay full Deals go from the desk to the customer. The helped make the asking price if in your mind you have already sales person will then present the proposal made a concession? Perhaps some of you and wait for the customer to respond (react) believe it is not even possible to sell a vehicle to our figures thus starting the negotiation. at the full asking price unless that customer just fell off a turnip truck. This contrasts what many sales people do today by taking an offer to the desk to begin BEST PRACTICES negotiations. Remember all deals start at The best way to gauge whether you have the the desk. courage and intestinal fortitude to actually do this is to just ask yourself, “How many Full Start the first pencil as follows: Market value List deals did you deliver in the past 30 days? (MSRP) less rebates (as they apply), use two A Great 60 days? 90 days?” If the answer is one or trade figures ($500 spread) higher figure to none to any of the three time frames, you may need to sell yourself first. In the early 1900s there was an Italian be ACV less $500-750+, payoff to bank, 20 percent down payment, payment options at 48 months two figures with a $10 spread. Use an average interest rate for your area to start. (10 SUCCESS! mathematician and economist named Vilfredo percent for this example) Pareto. He studied business, society and the environment in search of an explanation Example: for the natural distribution of results. His A. Market value $31,987 findings lead to the ratio that bears his name, Rebate $1,500 The Pareto Principle. Most of you are more Adjusted Sale price $30,487 familiar with the ratio itself: 80/20. B. Trade in $3,461 up to $3,963 The 80/20 rule simply states that a small number of people often impact the majority of C. Payoff $2,750 the results. There are examples and nuances to D. Down payment $6,097 this principle that are too numerous to mention (20 percent) here. For our discussion, reality dictates that E. 48 Months $587-597 while the majority of your customers will behave similarly (80 percent) the minority (20 Your sales person will then ask for a check. percent) differ in their approach and outcome “Mr./Mrs. Customer just go ahead and of purchasing a new vehicle. write me a check for $6,097, make that out to Thompson Motors and I will get your Within that 20 percent there is both good paperwork started.” news and bad news. Approximately half of them (10 percent) will be a delight, the other Then shut up and wait for their response. half (10 percent), well, they are probably why Realize some will actually surprise you and your local bartender knows you by name as write the check for $6,097. If they do not, you recall your tales of woe. well that’s something we will discuss in next month’s article. One in 10 should pay you all the money. If this is not happening, there is only one Go make something happen! reasonable conclusion: you and/or your sales person never asked them to pay full price. Kirk Manzo is the general manager So if you are not even seeing one in 20 (four at Ziegler Supersystems. He can be to five per 100) full pop deals, it’s simply contacted at 800.858.6903, or by e-mail at because you are not asking. Bear in mind kmanzo@autosuccess.biz. june 2005 13
  • 14. sts ms ls fis sf JeffFishel marketing solution Promote Events Designed to Drive TrafÞc to Your Dealership and Brand Yourself in Order to Improve Your Image in the Marketplace Car shoppers want So what happens when two dealers in the To determine your dealership’s brand the best deal now, same market stage their events on the same differences, start by asking yourself these and whoever gives weekend? What if their offers are similar and questions: them the best deal they’re selling identical makes of vehicles? now will get their In this instance, the dealer who has branded • If I had to pick only one thing I want business. During event his or her dealership best will win. the customers in my market to know promotions, the customers must also act now about my dealership, what would it or they will lose out. This sense of urgency is William Bernbach states: “In advertising, be? why event promoting sells cars. not to be different is virtually suicidal.” • What do I do better than the competitors in my marketplace? • What can I offer customers in my market that my competitors can’t? • What do I offer my customers that translate into real benefits for them? • What makes me special in this market? • Who is my target market and what would my competitors not want my target market to know about me? Your answers to these questions will be the first steps in determining your brand. Once you have determined and established your brand, you must then advertise it. This may include using targeted tag-lines, uniform graphics, unique print design, custom logos and perhaps a jingle (last month’s article) all within your radio, TV, Internet and print media. Plan your advertising months in advance. Planning ahead utilizes your entire budget most effectively, allowing you to select your best event promotional days, weeks and months of the year. Moreover, planning ahead saves you up to 40 percent in your annual media expenditures allowing you more budget for your branding campaigns. Combining your monthly brand advertising with your event promotions is effective because the one consists of the urgent deals offered to your marketplace during each weekly event promotion. And the other gives prospective customers the added reasons they need in selecting your store over your rival’s. Jeff Fishel is the national sales director for FishMarketingOnline.net. He can be contacted at 866.827.6246, or by e-mail at jÞshel@autosuccess.biz. www.autosuccess.biz 14
  • 15. sts ms ls fis sf PattiWood leadership solution The Secret of the Perfect Handshake If you know the rules, you give a firm Although the handshake is rapidly becoming three-to-five pump an internationally accepted business greeting, handshake in greeting Americans shake hands more often than the while standing people of other cultures. The handshake can approximately 16 serve as an important verb in your body inches from the person. In business you language vocabulary. Few things can create greet someone in this manner and then such an effective first impression as an step back to a minimum of two-and-a-half easily given, gracious handshake. Based on feet distance, with no other touch in the research, here is the best way in American critical first four minutes of the interaction. culture to have the perfect handshake. A handshake allows you to form a first impression of that person or, if you have met The Perfect Handshake them before, to form an impression of them • Rise, if seated. That rule used to apply for that interaction. to men only; now women should rise, as well. If you remain seated when someone In Western cultures, handshaking is used to is introduced to you, the communication of greet another person and “seal” a contract or personal indifference is unmistakable, not promise. The handshake is also the quickest, to mention offensive. The only approved most effective way to establish rapport with exception to rising to shake hands is if you another person. It takes an average of three are eating. If that is the case, you can wait to hours of continuous interaction to develop shake hands until after you are done. the same level of rapport that you get with a handshake. • Walk up to the person with confidence. Keep your head level and your hands at your side. Be sure to keep your hands out of your A Þrm handshake pockets. Research indicates that we don’t that shows trust people with hands in their pockets. Make sure your right hand is free to shake strength and hands. Always shift any purses, briefcases, vigor with papers, beverages or cell phones to your left hand before you begin the greeting. appropriate eye • Smile briefly. Don’t overdo it. If you smile contact length too long or too much, you are perceived and completeness as submissive. An over-extended smile can create negative impressions, such as of grip is related “overeager,” “easily manipulated” or “not to a favorable intelligent.” Women need to take special care not to over-extend the smile as it can Þrst impression. reduce personal power and can even be misinterpreted as a sexual come on. We shake hands to show we hold no weapon. • Make eye contact. There is a substantial It is thought to have started with the Roman amount of research showing that good eye arm clasp. One man would reach out his contact increases feelings of trust. Don’t right hand, his weapon hand, and clasp just stare, but don’t look at your shoes. Making below the elbow of the man he was greeting. eye contact as you approach lets the person With this greeting neither person could yield know you want to interact. Men need to a weapon easily. Medieval knights created extend the eye contact for at least three the shaking part of the handshake because seconds without blinking or looking away as they knew that other knights hid daggers they shake hands. Women need to be careful up in their sleeves and that shaking would of holding eye contact for more than three dislodge any hidden weapons. So basically to five seconds at a time with men they have handshakes are weapon checks. continued on page 34 june 2005 15
  • 16. sts ms ls fis sf TomGegax sales and training solution 10 Directives for Developing Via Delegation Leaders who feel they you. Last, there’s the I-might-lose-control Top 10 delegation directives: lack the time to think Syndrome. No problem; people love working 1. Transfer ownership. Be clear: “Here you strategically don’t for a control freak in an office gulag. go. This baby’s all yours now.” use the full potential of their employees. A Good leaders occasionally use overt non- 2. Tell why. An employee who understands manager must know delegation to deliver a message. I saw this why he or she is being asked to handle a task that effective delegation not only adds to first-hand while I led Tires Plus. Take the is more likely to execute it thoroughly. his or her employees’ development, but Monday morning Eric Randa, our loss- 3. Get the wheels turning. For complex frees him or her for more profitable business prevention czar, and Wayne Shimer stopped projects, help the delegatee develop an pursuits. by a Wisconsin Tires Plus store. They action plan by asking open-ended questions walked past soda cans and other weekend like “How do you see this unfolding?” and Delegating can be summed up in three detritus spotting the lawn on their way inside “What roadblocks do you anticipate, and words: let ’er rip! It develops employees only to discover the store manager and two how will you overcome them?” like nothing else. Hand over anything your associates standing around. Now, understand people can do: that we viewed cleanliness as next to 4. Set deadlines. Mutually agree on a godliness, which set us apart in an industry completion date and time. Otherwise, the • better than you; synonymous with “grease monkey” and task may sink to the bottom of the delegatee’s • quicker than you; “industrial waste.” Wayne, a vice president priority list. • at less cost than you; and part owner, walked back outside and, for 5. Ask for a recap. It’s dangerous to assume • that will add to their development; all to see, picked up the trash. “You never the delegatee perfectly understands the • that will free you for more important saw Wayne have to pick up trash at that store assignment. Always double-check: “To pursuits. again,” recalled Eric. make sure I communicated properly, please explain what you’re planning to do and Under-delegation is rampant. Many people Nobody ever accused me of under- why.” The answer may surprise you. who manage by the seat of their pants delegating. “Tom was a dedicated delegator,” wear their resistance to parceling out tasks Wayne recalled. “He forced me to be better 6. Monitor (but don’t smother). The like a badge of honor. Others conceal their by making me do things I didn’t think I point is liberation, so don’t micromanage reluctance behind a wall of bravado. There could do. The downside was that Tom was unless the delegatee is untested or timing is are myriad excuses for under-delegating. so strong at it he would over-delegate. His critical. If he or she starts down the wrong There’s the I-can-do-it-better-myself logic was that he never knew how far he path, say something like, “That might Syndrome, which, even if it’s true, doesn’t could challenge you to find your endpoint, work, but have you considered going in this change the fact that your time would be and Tom wanted to find that endpoint. If direction? . . . What do you think that could better spent elsewhere. There’s the classic I- your optimum capacity was 98, he wanted yield and why?” can-save-time-doing-it-myself Syndrome. you at 97.9.” It might take a while to train someone to 7. No take-backs. Don’t retract an do a repetitive task, but once it’s learned I do tend to overload people. But that’s so assignment at the first sign of trouble. That you’re home free. Do the math - delegating they learn to unload lesser priorities. Still, can kill confidence. Setbacks are learning just one additional assignment each week there’s a fine line. You have to trust that your opportunities, so patiently coach the to seven people who report to you crosses people will yell “Uncle!” One time, Wayne delegatee back on track. 30 assignments off your to-do list every mentioned the time he had 135 items on 8. Play to a delegatee’s strong suit. Tailor month. Another malady is the Somebody- his Goals Activity Report. He couldn’t get assignments to people’s strengths. Don’t else-might-make-a-mistake Syndrome. much help because everyone underneath him saddle a big-picture thinker with a detail- Mistakes will be made, but that’s exactly how already had full plates. “I just became adept at intensive project. people develop the experience needed to free figuring out what Tom really wanted done,” you up for more meaningful activities. Wayne said. “What were the $10 items, what 9. Don’t duplicate. Assign specific duties to were the $5 items, what were the $1 items? I specific people, with zero overlap. If there Other conditions that cause under-delegation took the $10 items and worked the heck out are two people involved, make it clear who’s include the Fear-of-giving-the-wrong- of ’em. If he hit me on an uncompleted $5 in charge. impression Syndrome, marked by concern item he’d grill me some, but he never brought that you’ll appear to be carrying less than up the $1 items. His motto is, ‘Be tough, not 10. Distribute evenly. Up-and-comers need your own weight. In fact, respect deepens rough.’ I’m convinced he walked out of the challenges, too. Avoid the temptation to when you place your trust in others and focus building at night smiling and thinking, ‘Let’s overload your stars. on big-picture thinking. There’s also the I- see how he handles this one.’” Tom Gegax is founder and chairman feel-threatened Syndrome - fear of being emeritus of Tires Plus and founder of shown up by a subordinate. That leads to a Tough-not-rough delegation benefits Gegax Management Systems. He can be mediocrity mindset and an idle, cynical staff everyone. Before plopping assignments on reached at 866.210.2832, or by e-mail at whose poor performance reflects poorly on desks, do your delegation due diligence. tgegax@autosuccess.biz. www.autosuccess.biz 16
  • 17. Ever wonder where your profits went after your software flopped? Our proprietary technology can increase your profits. Why risk using software that isn’t specifically created for your dealership’s unique needs? At Chrysler Financial, our entire business is based on knowing your business. From Electronic Funds Transfer and RouteOne to AutOrigination® and ACE, our people, products and services are solely dedicated to helping you sell more vehicles. In fact, we’re completely invested in your long-term success. So choose the one financial company that smokes the rest of them. AutOrigination is a registered trademark of DaimlerChrysler Corporation. Chrysler Financial is a member of the DaimlerChrysler Services Group.
  • 18. fs feature solution TonyCantrell How to Add to Your Response Rate Simple additions to your direct mail your potential customers excited and prompt in exchange for the free gift. Many sales campaigns can easily increase your response them to look for your invitation in the mail. the following week and month come from rates and lower your cost per sale. Every Messages up to thirty seconds long can be what some would call, “Gift Grabbers.” store wants more bodies in the showroom left to convey to your customers the exciting NADA says that 72 percent of people buy on as a result of their marketing efforts. opportunity that is soon to arrive in their impulse. Gifts can range in price from $.25 Direct mail is one of the quickest and most mailbox. Messages can be used to condition to $100 and more. How much is your next cost effective means to do this. It can be the customer to call the dealership to set an sale worth? Adding gifts to your campaign measured, so continuous improvement is appointment the day the invitation arrives so will bring more potential customers in the possible. Several methods and many new they can be sure to receive the special rates door. The Vertis Customer Focus® 2005: tools have made results possible that dwarf and/or pricing the invitation makes available Automotive study, reveals that the number those only a couple years ago. to them. Some dealers and managers like to one reason for many consumers to buy a new personally invite the customer to come in and car is simply because they want one. For 36 One such improvement is Internal Voice meet them face-to-face so they can receive percent of the new car purchasers, desire for Response (IVR). IVR is an automated the special gift that is waiting for them. a new automobile will lead them to make a telephony system that allows potential purchase within the next 12 months. The ... the number customers to be pre-qualified for an auto study also revealed that 43 percent of adults loan based on the factors selected by the who plan to purchase a new vehicle responded dealership. The system will ask questions one reason to direct mail by visiting the dealer in person, for many such as monthly household income, desired 28 percent visited the sender’s Web site and monthly payment and job time. Some systems 14 percent called an 800 number. Since direct are voice responsive and will understand consumers mail from an automotive dealer can help to buy a new and move forward based on the customer’s educate consumers on future purchases, it is voice answers. Other systems require that also an effective medium to increase future the customer respond using the touch- tone keys on the phone. Bilingual systems car is simply dealership traffic. make this convenience available to your because they Promotional Insurance is used for exciting Spanish-speaking customers as well. Next the system will ask for permission to pull want one. and incredible giveaways. Large giveaways will increase response rates of direct mail the customer’s credit so you can have access campaigns by bringing in the buyer who to the maximum amount of information Promotional gifts have been used for feels lucky. How many of your customers before the customer visits the lot. When sometime, and remain effective when pay for lottery tickets? When a car or a the customer has completed the process, properly presented in the voicemail and large cash prize is given away, insurance the dealership is notified immediately by direct mail offers. Promotional gifts also can be purchased for as little as 6 percent of fax or email. Advanced IVR systems have remain an inexpensive and effective way to the cash value. Insurance is available up to a web interface that allows users to go in to increase response rates and to promote the $1,000,000. Insuring a percentage of a car or the call records, listen to them, assign them carnival like atmosphere and excitement cash giveaway gets you the same attention to salespeople and even tag leads with their level that can lead to buying frenzies. The and publicity with less risk and little status in the sales process. gift will also bring in the buyer who is riding additional expense. Take the time to find out the fence or just deciding to enter the market. if promotional insurance is right for you. Another innovation that improves the This justifies the visit and if nothing else this effectiveness of direct mail is Voice Mail customer will often feel obligated to give The effectiveness of Web surveys has grown Broadcasting (VMB). A VMB tool will get you a chance to earn his or her business exponentially over the past couple of years. www.autosuccess.biz 18
  • 19. Web surveys are very similar to internal planning on buying a new vehicle while Generation Y adults are six voice response programs but instead of the within the next 12 months because percent more likely than total adults phone, they use the computer. Customers they need one for work, while 4 to be motivated by the same factor. are directed to a Web site that will ask the percent need one because they have a • Of the Younger Baby Boomers questions needed to get the customer pre- new driver in the family and 3 percent (1956-1964) surveyed, 21 percent qualified. Questions about their wants and can afford a better car. said a rebate offer motivates them to needs give the dealership the ammunition • Only 5 percent of new car purchasers visit a dealer when shopping for an to deliver these customers when they are planning on making a purchase automobile, compared to 16 percent arrive for their scheduled appointments. A within the next 12 months based on of total adults. multiple-choice format allows the customer lower prices, lower interest/financing • Generation Y adults are 5 percent to design their own close by sharing the or price incentives. more likely than total adults to be types of incentives and discounts that motivated by a special trade-in offer. motivate them to make a buying decision. Men More Likely to Purchase a New Car. When the survey is completed the customer • 24 percent of single Generation Y What Makes Auto Loan Applicants Open is informed that they have won a prize and (1977-1994) men stated they plan Direct Mail? they are directed to the dealership Web site to purchase a new vehicle within the • 66 percent of direct mail readers who or showroom floor. Upon completion, the next 12 months. plan to apply for an auto loan said results are immediately faxed or emailed to • In comparison, 16 percent of they are more likely to open a package the dealership for follow-up. These are the Generation Y women have plans to that looks interesting. hottest leads and should be called within 15 purchase a new vehicle within the • Of the direct mail readers who have minutes with a deal structured the way the next 12 months. plans to apply for an auto loan, 64 customer said they like to buy. • 20 percent of men with a household percent are more likely to open a piece income of $75,000+ and some college based on the timing of its arrival. There are a number of ways to compliment education have plans to purchase a • For 60 percent of direct mail readers a direct mail campaign. Economies of scale new automobile within the next 12 who plan to apply for an auto loan, can be realized by finding a company that months. having their name on the front of the is large enough to handle every step of the • Similarly, 15 percent of women with envelope will influence their decision process. Direct mail will increase the sales, a household income of $50,000+ and to open. profits, and most importantly, bottom line. some college education reported they • 57 percent of direct mail readers who plan to purchase a new automobile plan to apply for an auto loan are When considering direct mail, keep in within the next 12 months. more likely than total adults to open mind these useful statistics provided by the packages that contain a special offer Vertis Customer Focus® 2005: Automotive Main Incentives Motivating Adults to Visit or discount. study. a Dealership. • 32 percent of Generation X (1965- Top Reasons Why Adults Are Buying 1976) adults were motivated to visit a New Cars dealership based on price incentives; • 8 percent of the new car purchasers five percent more than the average said they are motivated to purchase a adult. new car because of their current auto’s • Generation X adults are 9 percent Tony Cantrell is the president and CEO of Automotive Consulting Co. He can be mechanical problems. more likely than total adults to be contacted at 800.901.2859, or by e-mail at • 11 percent of new car purchasers are motivated by a special financing offer, tcantrell@autosuccess.biz. june 2005 19
  • 20. sts ms ls fis sf BrianTracy sales and training solution Increasing Your Earning Potential Throughout most of field is probably doubling every five years, ability is largely determined by the perception human history, we this means that fully 20 percent of your of excellence, quality, and value that others have been accustomed knowledge and your ability in your field is have of you and what you do. The market to evolution, or the becoming obsolete each year. Ask yourself, only pays excellent rewards for excellent gradual changing and “What parts of my knowledge, skills and performance. It pays average rewards for progressing of events work are becoming obsolete? What am I average performance, and it pays below in a straight line. Sometimes the process doing today that is different than what I was average rewards or unemployment for below of change was faster and sometimes it was doing one year ago and two years ago?” What average performance. Customers today want slower, but it almost always seemed to be are you likely to be doing one year, two years, the very most and the very best for the very progressive, from one step to the other, three years, four years and five years from least amount of money, and on the best terms. allowing you some opportunities for planning, today? What knowledge and skills will you Only the individuals and companies that predicting and changing. need and how will you acquire them? What provide absolutely excellent products and is your plan for your economic and financial services at absolutely excellent prices will Today, however, the rate of change is not only future? survive. It’s not personal. It’s just the way our faster than ever before, but it is discontinuous. economy works. It is taking place in a variety of unconnected We are now in the knowledge age. Today, the areas and affecting each of us in a variety of chief factors of production are knowledge To earn more, you must learn more. You unexpected ways. Changes in information and the ability to apply that knowledge to are maxed out today at your current level processing technologies are happening achieving results for other people. Your of knowledge and skill. However much you separately from changes in medicine, changes earning ability today is largely dependent are earning at this moment is the maximum in transportation, changes in education, changes upon your knowledge, skill and your ability you can earn without learning and practicing in politics and changes in global competition. to combine that knowledge and skill in such something new and different. Changes in family formation and relationships a way that you contribute value for which are happening separately from the rise and fall customers are going to pay. And here’s the rub. Your accumulated of new businesses and industries in different knowledge and experience is becoming parts of the country. And if anything, this The Law of Three says that you must obsolete bit by bit, day by day. The knowledge rate of accelerated, discontinuous change is contribute three dollars of profit for every in your field is doubling every three to five increasing. As a result, most of us are already dollar that you wish to earn in salary. It costs years. That means that your knowledge must suffering from what Alvin Toffler once called, a company approximately double your salary double every three to five years just for you “future shock.” to employ you in terms of space, benefits, to stay even. supervision, and investment in furniture, You can’t do very much about the enormity fixtures, and other resources. For a company The solution to the dilemma of unavoidable of these changes, but the one thing that you to hire you, they have to make a profit on what change and restructuring is continuous self- can do is to think seriously about yourself and they pay you. Therefore, you must contribute development. Your personal knowledge and your basic need for security and stability. In no value greatly in excess of the amount you your ability to apply that knowledge are area is this more important than in the areas of earn in order to stay employed. To put it your most valuable assets. To stay on top job security and financial security. You must another way, your earning ability must be of your world, you must continually add to give special attention to your ability to make considerably greater than the amount you are your knowledge and your ability. You must a good living and provide for yourself in the receiving, or you will find yourself looking continually build up your mental assets if months and years ahead. for another job. you want to enjoy a continuous return on your investment. And only by building on Above all, to position yourself for tomorrow, To position yourself for tomorrow, here is your current assets do you stop them from you must think continuously and seriously one of the most important rules you will ever deteriorating. about your work today, your earning ability, learn: “The future belongs to the competent.” and the work that you will be doing one, The future belongs to those men and women By engaging in continuous self-improvement, three, and five years from today. You must who are very good at what they do. Pat Riley, you can put yourself behind the wheel of your plan to achieve your own financial security, in his book The Winner Within, wrote that, “If own life. By dedicating yourself to enhancing no matter what happens. you are not committed to getting better at what your earning ability, you will automatically you are doing, you are bound to get worse.” be engaging in the continuous process of Charles Kettering said that you should give To phrase it another way, anything less than personal development. By learning more, you a lot of thought to the future because that is a commitment to excellent performance on prepare yourself to earn more. You position where you are going to spend the rest of your your part is an unconscious acceptance of yourself for tomorrow by developing the life. One of the greatest mistakes that people mediocrity. It used to be that you needed to be knowledge and skills that you need to be a can make, and the one with the worst long- excellent to rise above the competition in your valuable and productive part of our economy, term consequences, is to think only about the industry. Today, you must be excellent even to no matter which direction it goes. present and give very little thought to what keep your job in your industry. might happen in the months and years ahead. Brian Tracy is the chairman and CEO Excellence, quality, and value are absolutely of Brian Tracy International. He can be Imagine what your job will look like five essential elements of any product or service, contacted at 866.300.9881, or by e-mail at years from today. Since knowledge in your and of the work of any person. Your earning btracy@autosuccess.biz. www.autosuccess.biz 20