Splitting the Deal
Splitting a Deal is something that most people in the car business wouldn’t dream of. It would only happen on a rare occasion when someone was sick or something terrible happened that prevented them from delivering the car or finalizing the deal. It certainly wouldn’t be a choice. However, in my world this is a common occurrence and can be a wise decision for anyone in sales, if it’s done properly.
Let me explain….
I’m fortunate to work with several like minded sales professionals. We have all chosen to specialize in individual brands. This being said, it makes for a great experience for everyone involved, especially the customer. With our arrangement, the client’s are able to buy any of our seven brands, as well as premium trades, and even if they work the deal with me or whomever they are used to dealing with, they are able to take delivery with the brand specialist. We have found that this works beautifully. It allows the customer to crunch numbers with the sales person that they are comfortable with, but in the end, the product specialist is the one to walk them through the car. Ultimately it’s a win-win for everyone involved.
From the sales perspective it’s equally as satisfying. I’m sure you’ve heard the saying “100% of nothing is nothing”, well that definitely applies to my business. By splitting deals you’ve always got revenue coming in. It’s almost like throwing a wider net with fishing, you’re bound to catch more fish this way. The concern I’ve heard from close minded sales people, is that the second sales person will “steal the client”, but we all know that sales is built on relationships, and if you have a strong one with your clientele….they will always come back to you. Here’s an example of how it really paid off in the long run for me…..
Most recently I was invited to attend a golf tournament and bring luxury cars to display and ultimately sell. I looked into it and realized that the crowd attending were from various backgrounds. There were some people on an average income level and some on an elite level. So ultimately, I knew only about 25% of attendees would be able to afford a super luxe car. This being said, I wanted to attend and I wanted to be sure and display product that would appeal to all. I certainly didn’t want anyone to feel left out. So….I called my good friend Alek Ackerman.
Alek is a Jaguar/Land Rover sales specialist for our sister store downtown. Like me, Alek believes in splitting deals. The golf event was happening on his day off, but he graciously chose to spend it with myself and the golfers. We took a Bentley GT, Lamborghini Huracan spyder and a Jaguar XE. But most importantly Alek was there to answer questions and represent the Jaguar and Land Rover side of our business.
Alex and I had a blast! We met a ton of new people, had some great food and just enjoyed the day. The following day I got a call and it was one of my repeat Lamborghini clients. He had attended the tournament and was interested in a full size Range Rover Autobiography. I had introduced him to Alek the day before, but there wasn’t a lot of time to talk as he was scheduled to golf. Long story short, my client purchased the Range Rover, and now his cousin is in the process of purchasing a Jaguar F-Pace S (the new SUV for Jaguar). What’s interesting is that the client’s called me, but wanted to work with Alek on the delivery. This seemed very natural for everyone involved and had I not asked Alek to attend the tournament, I may have spent the entire day there with zero sales.
So ultimately, by teaming up with my friend, I chose to cast a wider net. Alex and I made two deals that day and split both. By introducing a new product I was able to interest a current client and broaden Alek’s client base as well. Now when my client thinks of me, he thinks of Lamborghini….but also the great experience he had with our Jaguar/Land Rover brand.
So at the end of the day, I urge you to remember, life and business is based on relationships, don’t be afraid to work as a team and split deals. As the old saying goes….”Teamwork makes the Dream Work”!