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By Grant Dunning

On behalf of Dealers across the nation, I am fortunate to have the opportunity to survey hundreds of thousands of car buyers on an annual basis. This summer I tallied the results of a sampling that represented a cross section of Dealers throughout the United States. The results are truly remarkable.

Over the 3 month period of July through September 2000, we collected 6,020 surveys from car buyers throughout the nation. Let me clarify the content of the survey – they specifically deal with:

As I share the results of this sampling, I want you to calculate the potential dollars that are being generated by this simple survey. Out of the total of nine questions, I am going to focus on the results of just two.

EXTENDED SERVICE POLICY

Out of 6,020 surveys returned, a total of 3,674 car buyers were interested in learning more about extended service policies. That’s right, an amazing 61% wanted additional information on these opportunities for increased revenue. This gives these dealers the chance to sell additional policies that were not sold at the time of delivery. The average consumer believes that the only opportunity to buy an extended service policy is at the time of purchase. Many customers change their mind after the delivery process. Asking this simple yet effective question allows you the opportunity to gain business that would otherwise be lost.

REFERRALS

This statistic is astounding. On the 6,020 surveys returned, we received a total of 1,050 names of potential customers who were interested in buying another vehicle. What is that worth? Fresh referrals from your most recent customers…this type of lead generation is priceless. For every 100 cars sold is your sales staff receiving 18 referrals? The answer is probably no.

ASK THE QUESTIONS

The statistics above are a result of asking the questions. If you want to sell more extended service policies…ask the question. If you want to generate more referrals from your customers…ask the question. If you want to find out where your advertising is working…again, ask the question. I can continue to give examples, but you get the point. The statistics I’ve provided for you are genuine. The information was gathered directly from car buyers across the country. You must have a process to ask these important questions and gather this information. If you don’t, you are missing out on opportunities to incrementally increase your sales!