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In recent months dealerships have utilized this non-traditional source for acquiring new business. Lenders require at least 5 references per loan. As opposed to only asking for 5 the trend has been to ask for 10 "valid " reference so that someone in the dealership can call and solicit new business. In most cases during start up dealers use existing staff from the accounting office to make these calls. After a period of time a dealership may want to consider having a full time telemarketing person for this duty. In one scenario, staff members are paid $10 for each appointment that "shows up" with an additional $25 for the appointments who purchase vehicles. This is a Win /Win situation for the dealership. Existing employees can earn extra income, are more empathetic to the sales process plus work hard to ensure appointments they schedule ride away in a vehicle. In other words we now have increased synergy within the dealership. Sales persons do not mind giving up a small portion of their commission due to the fact that referral customers usually result in higher than average gross profits. |
The following formula indicates how much business is available. A well-managed telemarketing staff will always exceed these projections.
As you can see the numbers continue to grow each month. Even if your dealership only achieves 50% of the above formula the numbers will add up with no advertising expense and better customer service. "START DIALING FOR DOLLARS TODAY!" **** ADDED BONUS IDEA: AS OPPOSED TO PAYING SUB PRIME CUSTOMERS REFERAL FEES OFFER TO MAKE THEIR CAR PAYMENT WHEN THEY REFER A MINIMUM NUMBER OF CUSTOMER THAT PURCHASE. THIS WILL INCREASE YOUR PERCENTAGES ON THE TELEMARKETING. SUB PRIME CUSTOMERS TEND TO LIST REFERALS THAT HAVE SIMILIAL PROBLEMS. 
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