When it comes to selling cars, it’s not a one-size-fits-all scenario. Each individual buyer has their own needs and wants. With that being said, those needs and wants can be heavily influenced by their generational cohort. While no single person fits a specific mold, buyers do tend to fall in line with their generation’s tendencies. By studying these tendencies and preferences, you can better suit your selling style to your buyer. This helps you not only close the sale, but provide better service to your customers.
If you’re considering enrolling in an auto sales program, read on to discover how to sell to each generation.
How to Sell Cars to Baby Boomers after Auto Sales College
Baby Boomers are big spenders, especially when it comes to cars. According to Business Insider, 80 per cent of surveyed retailers stated that 50 per cent of their sales proceeds come from Boomers’ wallets. It’s also no secret that Baby Boomers have the most disposable income. As stated by consulting firm president Dennis DesRosiers, “[Baby Boomers are] retiring in record numbers. The kids are gone, the college costs are gone, the housing costs are paid for and they’re treating themselves to vehicles. Nice vehicles.”
So how can students in auto sales college sell to the Baby Boomer generation? Baby Boomers love good customer service. Having grown up in an era where cell phones and the internet didn’t exist, Boomers value face-to-face human connection. To really impress a Boomer who walks into your dealership, start by building trust right away with a firm handshake and eye contact. Building strong rapport in the beginning will go a long way to closing the deal later.
Tactics for Selling Cars to Generation X after Auto Sales College
Generation X is commonly forgotten among professionals with automotive sales careers. Born between 1965 and 1980, Gen X bridges the gap between Millennials and Baby Boomers. Pinpointing specific qualities of Gen X buyers is difficult, because they have a mix of Boomer and Millennial purchasing habits.
Previously plagued with what seemed like an anti-car virus, Gen X is picking up steam and starting to purchase vehicles. Generation X is the second most likely generation to purchase a new car because they want one, not because they need one. As a seller, keep this in mind. When showing cars to Gen X buyers, you should appeal to their wants and not always their needs.
A recent study conducted by Shullman Pulse showed that although Gen X only makes up 25 per cent of adults, they have 31 per cent of total income dollars. So how do you appeal to Gen X and tap into that spending power? Surveys show Gen X is worried about three things: providing for their families, taking care of themselves, and playing it safe. This is reflected in their desire for practical vehicles (even if they are more of a want than a need!).
You can sell more effectively to Generation X by demonstrating how vehicles will meet those three core concerns. Showcase options that have extra safety features that will keep their family safe. Most importantly, tell a story with what you’re selling. Show your Gen X buyers how this car will not only provide safety and security, but also help to make lasting memories with their family.
How to Sell Cars to Millennials After Auto Sales College
Born between 1981 and 1999, Millennials are digital savvy, brand-conscious, and expect some bang for their buck. According to Helms, Millennials will purchase 40 per cent of all new cars by 2020. They tend to show interest in smaller vehicles that have better fuel-efficiency and are easier on the environment. Millennials’ purchasing decisions are heavily influenced by price, so you can better sell to Millennials by taking a value-based approach. To help justify the cost, instead of listing off a vehicle’s features, explain how each feature is valuable and addresses that buyer’s needs.
Millennials do a lot of research online before going to a dealership. In fact, 43 per cent of Millennials will rely on word-of-mouth recommendations. Chances are, when a Millennial comes into your dealership they already have a good idea of what they want to purchase. However, 49 per cent of Millennials indicated that they mainly rely on the expertise of a salesperson. So you can help cement a sale by reinforcing the positive aspects of a vehicle and even upselling to include features your buyer didn’t realize they wanted.
Are you interested in enrolling in car sales training in Toronto?
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