By Carl Sconnely on 2/27/2009 3:54 PM

If you haven’t heard of e-mail lead parsing, you are missing out on one of the easiest ways to increase closing percentages for online leads.   The process of  ”parsing” an e-mail lead consists of breaking down the contents of an e-mail and categorizing the data (Name, Phone Number, Unit, etc.) automatically into your Customer Relationship Management (CRM) Program or Dealership Software.  Thus, instead of the information just sitting as a message in someone’s e-mail inbox, it is instantly transformed into a working and trackable prospect.  All lead information is instantly captured into your system and is never overlooked or lost. 

Leads can be parsed from a variety of different sources such as your own dealership’s website, 3rd party lead generating websites (RV Trader, RV Search, RV123, etc.), and manufacturer websites.  Without parsing, leads received from these sources typically drop into a designated employee’s inbox as a simple e-mail. Unfortunately, this puts your online prospects at the mercy of that employee. What happens when your internet manager goes on vacation or calls in sick? ...

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By Lorraine Mariotti on 2/26/2009 4:18 PM

Selling skills are just as important during the closing process as they are when selling the deal to the lender. If you can’t close the customer, than the approval you’ve worked so hard for is wasted. In order to close your customers and maximize the profit potential you must have a plan of attack.

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By Greg Gerber on 2/26/2009 11:38 AM

The Wall Street Journal today published an amazing piece of research that proves, once and for all, the folly around the notion that America can have anything it wants, as long as it taxes the rich.

The current administration has formed its platform around the idea that rich people should pay their "fair share," and new tax proposals are aimed directly at the pocketbooks of "the rich."

But, according to the Wall Street Journal, if the government confiscated EVERY DIME above $75,000 earned by American citizens, it would generate just over $4 trillion -- slightly more than the total federal budget proposed for 2010.

The other dirty little secret is that, thanks to this economy, there are fewer rich people today than there were in 2006. The tax burden of our current spending spree will choke the very life out of the econony for many years to come.

With the unbelievable level of fiscal irresponsibility coming out of Washington this year, it will be much harder to isolate "the rich." We will all need to be rich if we have any hope of pulling ourselves out of this hole.

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By Chuck Marzahn on 2/24/2009 4:21 PM

You know I’m not a rumormonger. 

I’ve been really clear about that....

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By Greg Gerber on 2/24/2009 3:19 PM

As manufacturers begin to introduce their 2010 models in February, some dealers are already barking up my tree suggesting that this could be the nail in their coffins this year.

You'd think a new product might just generate more interest in what dealers are trying to sell. But, apparently, in this market, it actually works to their disadvantage.

Starting March 1, some banks will only finance 2008 models at wholesale prices. So, if a dealer hopes to make a profit on the sale of a 2008 model, the consumer will need a larger downpayment. That means he will likely have to spend more out of pocket to buy a 2008 model than he would to buy a 2009 or 2010 model, especially with other manufacturer discounts factored in.

One dealer is concerned that such a move will force dealers to lie to banks about equipment that is installed on 2008 units.

The issue of new model introductions has generated conflict within the industry for years. But manufacturers seem reluctant to agree to a specific window for new model releases, and once the first cat is out of the bag, a chain reaction of events goes into place to reduce the value of inventory on the lot -- whether or not an RV dealer has a new model on its lot.

Before advocating that RVIA and RVDA take action to address this concern, I'd like to know how big a problem new model introductions will be this year. Any ideas?

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By Mike Whitty on 2/24/2009 10:59 AM

I have found that those prospects coming to dealerships who do not go through the sales process get bogged down in the very first step - the Meet and Greet. This happens when the salesperson says "can I help you?" or "What can I do for you today?" and the customer responds with, "I'm just looking." Too many times this dialogue ends with the salesperson saying something like, "Ok, if you find anything you are interested in or have any questions let me know - I'll be right over here."

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By Carl Sconnely on 2/20/2009 1:55 PM

The RV Industry is becoming customized.  Widespread product customization and personalization marketing to consumers is nothing new and was originally developed back in the early 1990s, with the introduction of personalized shopping carts and home pages on the internet.  Since then, one industry after another – from department stores to restaurants – has adopted this business practice successfully and increased sales.  Consumers, especially younger generations, have come to appreciate and even expect a certain level of personalized service and recognition.
 
The automotive industry capitalized on this expectation years ago and began allowing consumers to build their perfect vehicle on the web. Shoppers would know every feature they wanted and what they could afford before ever stepping foot in a dealership. Toyota’s Scion brand has experienced great success and taken this even further by focusing primarily on build-to-order units, based on customer specifications, that speak to the younger consumer’s focus on uniqueness and individuality. 
 
This spotlight on personalization has since filtered down to the RV industry....

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By Lorraine Mariotti on 2/19/2009 9:10 AM

Setting expectations with your customers, especially in today’s lending environment, will undoubtedly help you deliver more units. An experienced F&I Manager should be familiar enough with lender guidelines to anticipate what may be needed to secure an approval.

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By Greg Gerber on 2/18/2009 1:03 PM

I hope US Bank CEO Richard Davis has a team of bodyguards, or sleeps with a very big dog.

Davis went on the offensive this week against the federal government for their portrayal of how TARP money was supposed to be spent, and for how the feds are trying to micromanage companies that received federal bailout money.

After describing the Troubled Asset Relief Program as being "lousy," Davis told business leaders at a forum Tuesday that US Bank was told, not asked, to accept the federal money.

When the banks received the "bailout" money in October, we were lead to believe that the money was destined to loan offices around the country. But, when banks began buying other banks, they were portrayed as the evil profiteers standing in the way of greater good. The whole thing became a campaign issue.

But, if Davis is to be believed, the federal government approached US Bank and Wells Fargo specifically because they were healthy organizations. Rather than allow smaller banks to fail, which would have cost the FDIC billions in guarantees, the feds wanted the good banks to acquire smaller unhealthy institutions.

This whole situation puts us in the unusual position of having to believe bankers or government officials. All we need now is a lawyer and we have the foundation for a bad joke.

You want to know why consumers can't get loans to buy RVs this spring? It's because consumers are the big pawns in a massive game of chess taking place in Washington, D.C. for domination of the country. And banks are the rooks.

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By Mike Whitty on 2/18/2009 9:48 AM

One of the complaints I consistently get from salespeople is in the area of splitting deals. I think that this has become such a problem in many dealerships because there are no clear cut policies for what constitutes a split deal, and how it should be handled when the issue arises. My rule behind splitting deals is easy - if the other salesperson does 50% of the work, he/she deserves 50% of the commission. But here's what has happened. Some salespeople think that just because they help you deliver an RV, or help your customer on an inventory walk, even though they're just sitting around do nothing, deserves a split deal. I'd hate to think that the only time they'd help another salesperson would be for compensation. But apparently that's where we've come.

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