Your Store Should Have a 70% Closing Rate

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Yes, your store should have a closing rate of 70 percent, says Jamie Wood of rep firm Perpetual Marketing, which conducts training sessions to help you get there.

Perpetual Marketing TrainingThere’s some leeway depending on whether you are selling more high end goods, and less $79 head units, but that’s the basic rule of thumb says the Alpine rep out of Lutz, FL, whose one-day training seminar can boost retail revenues by 8 to 15 percent, he claims.

BrandsMart USA has seen a 9 percent rise in car audio sales compared to last year since taking the training, said Wood .

If you are wondering why CEoutlook is harping on training, consider this.  Only last week, Best Buy’s new CEO, Hubert Joly said employee training is the key to reviving the mega store.

Training will make Best Buy blue shirts “an undisputed point of reference” for customers, he told Bloomberg News.  So if you want to keep up with Best Buy, you might want to invest in sales training.

The first half of Perpetual Marketing’s seminar focuses on general sales techniques.  “Dealers don’t know how to close the sale; they don’t know the closing signs.  It’s almost a fear to ask for the sale.  The process is that every step of the way you should be asking for the order.  It can be as simple as, ‘Do you like the way this looks’  or ‘How do you imagine this in your car,” said Wood.

The rep flies in dealers at its own expense for the day because it’s more effective to train dealers in small groups without interruptions. “We found that in doing roadshows, and we’ve done many, when you are in a group of 30 to 40 people, there’s not a lot of interaction.” And if you train someone at the store before or after hours, the salesmen are tired or distracted.

He also trains other reps who may, in turn, train other dealers.

The second half of the day is product training on Alpine equipment. He teaches how to sell features but also how products are manufactured: the quality differences in D/A converters and between different power amplifiers.

“We’re also the Marantz McIntosh rep.  We have a presentation room for those brands. We’ve taken an Alpine PDX F6 amp and let these guys listen to the expensive Marantz system.  They think they’re listening to a $25,000 system,” but Wood substitutes the Marantz amp with a PDX and the dealers can’t tell the difference.

After the training, salesmen usually see better high end sales.  “Instead of entry level amps, they start selling the higher end.  When you have the spirit that the product is better than others you can imbue that in the customers,” he said.

Wood also teaches strategies in using Facebook and email marketing.

For more information contact (813) 949-9385.

Source: CEoutlook

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3 Comments

  1. To really be of benefit the article who need to list some of the metrics used hit 70% or measure to that. Otherwise it’s a bit of a sensationalist title.

  2. BTW… for Hubert Joly, “Training will make Best Buy blue shirts “an undisputed point of reference” for customers”… you better walk into one of your stores, at least in Northern california and realize that the only thing close to 70% is the amount of stores Best Buy will lose if they continue hiring terrible employees. I love having Best Buy down the street from my shop…. it’s a great way to get customers to come over after they walk… or after Best Buy damages their vehicles. A once great company has decided that crappy employees are now trainable? I call bullshit.

  3. As a former rep, long time retail employee, and now business owner… I find some trainings to be informative… but the problem is, most trainers are absolutely terrible in this industry. Isn’t the key ingredient to training in any profession motivation? When you have people who are miserable in their chosen profession there simply isn’t any reason to get excited, regardless of product. What’s laughable about this situation is trainings hardly make you a better sales person. Do you honestly believe giving your average consumer tech specs that go in one ear and out the other really helps? Perhaps to your atypical consumer… but a majority of the customers just want reassurance that they will thoroughly enjoy their purchase. It’s about getting people excited… being passionate, and giving enough information where the consumer can digest it and understand it.

    Bottom line is… take care of your customers and you’ll close deals. Think long term and show your employees that it’s all about the consumers and not just a quick buck or two. And more importantly… give your employees reasons to be excited as well… they’re extensions of the busines. Trainings do help… but short term. And a good closing rate is in the 85-90%… not 70%. I’d fire someone for walking that many people.

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