You’ve heard the saying, “The customer is always right.” I’m here to say that the market is always right. The market requires two people to agree on something for money. The businessperson has all the right in the world to decide if the exchange isn’t worth the money — and so does the customer. That’s the market. It’s always right.
I’m going to propose a debate on the topic, in which I favor one side. Keep in mind, I’m not bold enough to even come close to determining the driving force behind people’s belief systems.
What I do know is that the customer is always serious. This is something every dealership owner needs to recognize. I’ve interacted with customers my entire career as a salesperson, a manager, a small business owner — you name it. And I still interact with customers. Yes, I see the crazies. But I always believe the customer is serious about what they are saying. And if the feeling is mutual, you and the customer will both walk away having made the best decision for each.
If you don’t believe your customers are serious, ask them relevant questions in a polite way, as a professional does: “What do you mean? Tell me your concerns.” When you’re asking that
question, regardless of topic, you’re asking for more information to solve their problem. If you’re trying to solve multiple problems, you need to break them down, one by one, and ultimately find agreement.
If you judge a customer’s seriousness, you’re very likely to offend them, which can agitate their emotional state.
Get to the seriousness of the problem and all the things that go with it the way the customer explained them. If something doesn’t make sense, ask how the customer connected those things.
Probe until you find a solution that makes sense. (It’s just like running a diagnostic.)
What about price objections? Well, what about them? Until you clear up all possible reasons a customer is bringing up the subject of price, the customer is telling you that price is a priority.
Ask,“Is price a concern for you?” If the customer says, “Of course, it is,” you have their serious answer, right now. Think of another question or agree to terms. If you can’t think of a question the customer is willing to talk about, you haven’t been listening.
Always let them answer seriously. The beauty of the open market is both parties are allowed to make equal decisions and hold equal power. It’s fair. If someone values price over all the other things you offer, you’re a commodity to them. If you don’t stand out as being worth the price, you have to fix that perception or move on to the next customer. Don’t waste the customer’s time and don’t waste yours. That doesn’t mean you should prioritize speed over accuracy. Speed over accuracy leads to mistakes and mistakes take the longest to fix.
Monitor the customer’s reaction. When people get impatient, they are valuing their time over what you offer. When people go silent, they are either thinking it over or have retreated to silence as a defense mechanism. If they are avoiding a decision, they are usually valuing relationships over time. If they tell you “yes” or “no,” they have evaluated everything and have decided.
Try to reverse that with new information or don’t. But always take them seriously.
The market has proven its resilience in pricing where both parties — the business and the customer — are happy. We’ve raised prices in the face of extraordinary storms and have persisted. The market for skilled technicians remains tight and even sales and management roles are getting harder to fill. This is good news for your pricing. Your challenge is making sure a good thing doesn’t become a problem, so make sure you hire the best or teach them
the best practices.
In this market, you need to stand out better than the others to capture market share at the prices you enjoy. Making decisions in this market is about the prioritization of needs.
Good luck next year. I think you’ll find favorable enough conditions in the market to ensure your continued success. Outside of things you can’t control, it should be a solid year or better. All market indicators are set for at least that
