Prevent Price Objections With These Pro Tips
Salespeople in every industry face objections. And in the auto industry, one of the most common complaints involves the seller’s the trade-in offer. The Automotivaters blog has some tips for sales reps when it comes to this type of objection. Written by Warren Cederberg, the blog post points out common issues that reps commit when discussing this topic with customers. “Yes, we all have to be good at justifying the trade value when the objection comes up but how many dealership teams actually ‘sell’ their trade appraisal process beforehand?” He makes an excellent point: Objection-resolving conversations are typically reactionary.
Share the Process
You can change this by familiarizing the customer with your trade-in and appraisal processes before the vehicle is appraised. Cederberg explains that in his experience, customers will follow your lead if they know where you are going and how it benefits them. By framing the entire process of appraisal and trade-in so they have a clear picture, it ceases to be a reason to object. Instead, it’s just part of the service you’re providing. He goes on to suggest a few ways you can add value to the appraisal process:
- Meet with the customer for a sit-down talk prior to the appraisal
- Walk through and explain the inspection process, as well as any tools or resources used
- Invite the customer to participate and ask questions the entire time, especially when discussing their vehicle
Having a thorough, transparent process that involves the customer will help them see your trade-in offer as more than just a “number.” They will appreciate the professional assessment being made and see more value than just being given a price. “As a result, their trust can only increase and we obtain easier acceptance of the true market value,” Cederberg writes. “Will this eliminate all trade value objections? Of course not, but it will help reduce objections and make it easier to justify the trade value when they do occur.” You’ll find that the transparency will benefit both your business and the customer’s overall satisfaction.