Growing up in Auburn, NY, my dad worked primarily in auto
sales for most of his life. The holiday season was not a time he looked forward
to as auto prospects were typically very hard to come by back in the day. In a
time when most people holiday shopped local stores or did some catalog shopping
-- and prepaid for most of their purchases -- disposable income was devoted
primarily to gifts, festive meals and not much else. Consequently, dealers
pulled in their advertising reins as the year wound down. My father never gave
me much advice but always proclaimed that "the best time to buy a car was
in December, right before Christmas, in the middle of a snowstorm!" The
salesman and the dealer were pretty hard up in that situation and would make
incredible deals according to the old man.
Fast forward 50 or so years, arguably 50 years that have
seen more changes than in any other period in our history. Including (maybe
especially) car sales. As I sat with my coffee watching the morning news today,
in a 15-minute span there were four major auto manufacturer ads on the tube
extolling the pleasures of holiday car shopping. And three of the four were high-end
wheels: Mercedes Benz, Infiniti and Cadillac (Ford rounded out the group).
Apparently what was once a barren time for auto retailers is now among the most
prolific, based on the quality and frequency of the ads they are running. And
TV time at the holidays typically commands the highest rates as avails
shrink.
What changed? A better question might be "what hasn't
changed?" Rebates, cheap leases, 0% financing and mega dealerships have
reshaped auto sales, not to mention the huge impact that online inventories and
information have had on the industry. Plus, there are more brands and models
available today than ever before. But when you cut through all that, it still
comes down to a salesperson, a customer and the perception of value. With some
adaptation and education my father would still fit right in.
Media sales (especially print media) have changed
dramatically, too. We still have our seasonal challenges plus more brands and
models of competition -- and an educated buyer who is looking for the one thing
everyone wants: value. It's the perceived package they get after factoring
price, quality, service, function and return on investment. That never
changes.
Lessons we can learn from our automotive mentors:
1. Create excitement that turns slow times around with
promotions that offer emotional appeal and logical value to buyers.
2. Diversify and expand your product offerings. Something
for everyone.
3. Make it easy to buy: you can't lease advertising but are
there ways to make it easier on the budget that you haven't considered?
4. Remember that in the end, it's one-on-one: a customer and
a salesperson. Train, train, train and always be sure that support ("Let
me talk to my manager!") is always available.
5. Ask for the business! ("What do I have to do to
put you in a car today?")
FCPNY is here to help our members with training and ideas to
help. Call us at 877-275-2726 or email me at tcuskey@fcpny.com. Enjoy the
holidays!
