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Guest Concepts' 1stPencil software simplifies the creation of Customer friendly presentations that provide multiple finance and/or lease alternatives which helps Salespeople get a purchase commitment using a non-confrontational approach. The Guest Concepts process makes it easier to start at full price, ask for down payment and ask the Customer to buy. This helps increase gross profits, speeds negotiation times, increases Customer satisfaction and enhances Salesperson closing abilities.
Compliance
Many compliance experts agree that the initial Sales process is a potential compliance land mine in most Dealerships today. The Guest Concepts process and presentations help Dealers maintain compliance by fully disclosing all of the legally required aspects of the deal.
Profitability
By starting at full price and providing capabilities to automatically include and fully disclose additional accessories our Dealers see increases in both front and back-end gross averages. In many Dealerships today, the deal has already been compromised by the time it reaches the desk. This is because Salespeople typically ask two questions that undermine gross profits: "How much did you want to put down?" and "Where do you want your payments?" Unfortunately we already know the answer to these questions the vast majority of the time. What this means is that the Customer is starting the negotiations, often with limited knowledge of what the numbers really should be. It's our job to educate the Customer in a non-confrontational manner that helps us start at the top rather than at the bottom. Most of our Dealers tell us that their combined gross averages increase by $400 - $700 using the Guest Concepts process.
Customer Satisfaction
When Customers are given options, it makes it easier for them to choose and makes the process less confrontational. The Customer actually feels in control. Negotiations take less time and they don't feel like they've been beat-up. Satisfied Customers refer their friends, relatives and co-workers. There is nothing quite as powerful as when a Customer tells their friends how easy it was to buy a vehicle at your Dealership.
Reduced Negotiation Times
Dealers tell us that up to 20% of their Customers simply circle a payment, often in just a couple of minutes. We hear stories from our Dealers on a regular basis where they look up and the Salesperson is back immediately with a commitment and a deal.
Meets Customer Information Demands
In today's information based society, Customers often want to know what alternatives look like. Should I take the low APR or the Rebate? What happens if I put another $500 down? The Guest Concepts presentations provide this information in a professional format that answers Customer questions and often leads to a commitment by providing a choice close.
Enhanced Salesperson Closing Ability
The primary script used to present the Guest Concepts presentation consists of three sentences, which is something virtually any Salesperson can master with a few minutes of practice. The Salesperson shares a presentation with their Customer that provides down payment, term and payment alternatives which lead to a non-confrontational but effective closing question. This process makes it easier to train new Salespeople and increases the skills and effectiveness of existing Salespeople.
Our Dealer Customers include everything from Kia to Aston Martin and handle both Finance and the various Lease alternatives and calculations. They use the presentations in virtually all types of sales scenarios from retail, internet, fleet, special finance and OEM sponsored vendor and employee purchase programs.
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