Free tool from the CPI whitepaper

The Four P’s Close

The customer loved the car, spent two hours with you, and still says they want to think it over. Here is what to ask before they walk.

The objection

“I want to go home and think it over.”

Most closing training takes aim at the price objection. Price matters and has to be addressed, but it is only one of the core principles of closing a deal: Product, Place, Person and Price.

Every customer who comes into the dealership intends to buy. They are not there to waste time. So when a customer spends one to two hours with a sales consultant, running all over the lot, and then says they need to go home and think about it, the chance they come back is slim to none. They will most likely buy at the next dealership they visit.

Instead of counting the customers who left and never came back, focus on the Four P’s.

The first P · Rate it on a scale of 1 to 10

Product

Ask: “On a scale of one to ten, how would you rate this car?”

We ask customers if they like the vehicle, which is common sense. What we don’t do is ask them to rate it. Have the sales consultant ask the customer to rate the product on a scale of one to ten.

Sales Consultant: “On a scale of one to ten, with one being terrible and ten being solid, you love the vehicle, how would you rate this car?”

Customer: “I would give it a 9.”

Practice: what number did the customer give?

Tap a number to see what the whitepaper says to do next.

The first P sets the sales consultant up for success. If the customer says five or six, you may not be on the right car. It could be color, price or packages, to name a few. Offer another option that fits their interest.

A nine is easy to turn into a ten. Ask: “To make it a ten, Mr. Customer, what do we need to add?” The customer might say, “Well, I really wanted the moonroof.” It won’t be the moonroof every time, but it is how you do your best to make the car a solid ten. And you can still close them on a nine.

From CPI’s on-site training

This tool is one piece of a program CPI teaches in the dealership.

Instructor-led, on your drive or sales floor, with role-play and a metric-driven sustainment process after the training so the results last.

Contact CPI

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CPI Whitepaper

The Four P’s Close

“I want to go home and think it over.”

The four questions

1. Product: “On a scale of one to ten, how would you rate this car?”
2. Place: “Is it the place?”
3. Person: “If it’s not the product or the place, is it me?”
4. Price: “You love the car, the dealership and me. What’s left? It must be the price.”

Most closing training takes aim at the price objection. Price matters and has to be addressed, but it is only one of the core principles of closing a deal: Product, Place, Person and Price.

Instead of counting the customers who left and never came back, focus on the Four P’s.

1. Product (Rate it on a scale of 1 to 10)

We ask customers if they like the vehicle, which is common sense. What we don’t do is ask them to rate it. Have the sales consultant ask the customer to rate the product on a scale of one to ten.

Sales Consultant: “On a scale of one to ten, with one being terrible and ten being solid, you love the vehicle, how would you rate this car?”

Customer: “I would give it a 9.”

2. Place (Your dealership)

Dealers often win awards but fail to use those hard-earned accolades to sell their brand. The dealership may be a state of the art facility with incredible amenities and an average rating of 4.7 with over fifteen hundred reviews. Customers read reviews. That may be what brought them in. So if they came, but did not buy, we have to find out why.

Sales Consultant: “Mr. Customer, I know you have spent several hours researching our brand and choosing the car. With so many options out there, we appreciate the opportunity to earn your business here at ABC Motors. We have won several awards for our outstanding customer service, with over fifteen hundred reviews and counting online. We have a state of the art facility, amenities and so much more to offer. Is it the place?”

Customer: “No, not at all. This is a clean dealership. I appreciate you giving my kids popcorn and juice.”

So what’s next? They love the product. They like the place. Is it you?

3. Person (You)

People buy from people. When the sales consultant connects with the customer and builds rapport, the deal is that much easier to close. But rapport does not mean you have a solid deal. Even when a customer has said several times that price is not what’s stopping them, it could very well be the price.

Sales Consultant: “Mr. Customer, if it’s not the product or the place, is it me?”

Sales Consultant: “Have I done something to offend you? I genuinely believe we were having a good time. You have spent a little over two hours with me, and we test drove two of the four options to make sure they had everything you asked for, including CarPlay, which was a must-have in your next vehicle.”

Customer: “Oh my gosh, no. In fact, I was just telling my husband how much we have enjoyed our time with you here at ABC Motors. I’m just concerned with the trade-in value. We have a year left on the loan, and I’m worried I won’t get to the monthly payment I need to make this happen. And if I do go through with it, I want to make sure I get my CarPlay.”

A customer will rarely, if ever, say they don’t like you to your face. They don’t want the experience to be awkward.

Because the sales consultant didn’t back down from the hard question, the customer opened up: it was the price, even though they had said several times that the price was fine.

4. Price (The actual objection)

Customers will say the issue is not the price without even meaning it, and then say they just need to go home and think it all over. This is where many sales consultants let the customer go without taking it one step further.

Now that you have isolated the real objection, it’s time to go for the close.

Sales Consultant: “Mr. Customer, you told me you love the car. You’re happy with the dealership, and with me. What’s left? It must be the price.”

Customer: “Yes, it’s the price.”

Sales Consultant: “I can certainly understand that. To be fair, you haven’t given me the chance to have your vehicle appraised, and before we appraised it I wanted to make sure I had the car you were hoping for, which happens to be a solid 9. Here at ABC Motors, we pride ourselves on excellent customer service, and we will make sure you get an excellent trade-in value. Your vehicle is out of the OEM warranty, isn’t it? A major repair can be as much as $1,600, and if it’s time for new tires and brakes, that can be another $1,200. That could easily translate into as much as an additional $233 in monthly payments, especially since you can’t buy an extended warranty, which starts at $1,200 depending on the coverage. With you commuting one hundred miles a day, don’t you want the peace of mind of driving a brand-new vehicle with the OEM warranty?”

Customer: “Oh, wow. I hadn’t thought of it like that. Now that you mention repairs, I do need new brakes and tires. That’s why I started looking for a new vehicle, because of the mileage. I don’t want to be stranded on the road after a long day at work.”

Sales Consultant: “Exactly. And why spend as much as $350 towing your vehicle, before the cost of the diagnosis or repairs? So can we go ahead and get it appraised? It can take as little as twenty minutes. In fact, how about this: I’ll have my manager appraise the vehicle. In the meantime, why don’t you go to lunch? I remember you saying you wanted to try that barbecue place downtown. By the time you get back, I can have all of the numbers for you. Sound fair?”

Customer: “That sounds great.”

How to get to this point

You can’t get to this point without asking the Four P’s. Had the sales consultant let the customer go without asking about the product, place, person and price, the customer would have left and gone to another dealership, most likely starting that deal on what they can get for the trade-in. The whole experience would revolve around price, not the fact that they truly love the vehicle.

So instead of letting the customer go after one to two hours together, ask the Four P’s.

From the Center for Performance Improvement whitepaper “I want to go home and think it over.” ted@centerforperformanceimprovement.com

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cpi-toolkit-walk-around-v1	CPI (stored in your browser)	Keeps a walk-around checklist you are filling in on this device	Until you clear it
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“I want to go home and think it over.”

This tool is one piece of a program CPI teaches in the dealership.

More tools

Service Walk-Around Checklist

Service Drive Opportunity Calculator

The Service Drive Training Check

The Four P’s Close

1. Product (Rate it on a scale of 1 to 10)

2. Place (Your dealership)

3. Person (You)

4. Price (The actual objection)

How to get to this point