Marketing Perspective: Direct Marketing success comes from permission—permission to communicate directly to the prospect. Getting permission and building rapport become central to the process. It’s labor intensive, but worth it—particularly in the case of working your portfolio of end-of-lease customers.
Technology Perspective: None of this works without a solid CRM loaded up with all your lease-term customers. This is truly a database driven process. You need to know who to call, when to call and a full accounting of any previous conversations, emails and other related notes.
Results Perspective: Measuring effectiveness can present challenges. Traditional closing ratios don’t apply because of the long sales cycle. The best closing-ratio formula: sales-current-month / prospects-whose-term-ends-current-month.
Timing: Starting from one year before the end of their lease term
Purpose: Assist in getting customers coming out of their leases into a new vehicles
Key to Success
❒ Stay focused on the goal of getting them into a new car ASAP while maintaining the sense of customer service.
❒ Listen to what they say. How they say it. Even—in some cases—what they don’t say. Isolate obstacles and objections to the goal.
Step 1. Enthusiastic Greeting
Hello, this is •Your Name• calling from •Store Name•
I’m calling about •Your Model• Is this •Client Name•?
Do you have a minute, or shall I call back a bit later?
Goal: Get permission to continue.
Step 2. First Call Introduction (Skip once you’ve made first real contact)
This is just a courtesy call regarding the upcoming end to your lease. Many customers begin to have questions at this point and we just wanted to assist you with any questions or concerns you may have.
• Have you been satisfied with your vehicle?
• Was this your first •Make/Model•?
• How are you doing on your mileage? Are you over or under?
• Have you given any thought to replacing your •Your Model• sooner-than-later?
Goal: Get a conversation rolling. Gather insights to identify selling opportunities. You’re qualifying the lead.
Step 3. Promising to Get Back to Them
… Okay, here’s what I’m going to do. I’ll give this information to •Whomever•. And he/she will get right back to you. How long will you be available at this number? If we can’t call back to you before then, is there another number I should use? Okay. Bye.
Goal: Create a sense of responsiveness and timeliness without making promises that you can’t keep.
Step 4. Assess the Call
❒ Do you feel they have the ability and desire to replace their vehicle in the near-term? If “no” explain why.
❒ Is there any possibility of getting them out of their vehicle sooner-than-later? If “no” explain why.
❒ What do we need to do to earn their business?
❒ What actions do I need to take now to give us the best chance of earning their business?
Goal: Create a follow up strategy and a sales approach that best fits this customer’s needs.