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Wednesday
Jan072009

Assuring Your Customers

On November 5, 2008 in Dallas, TX we were sitting around a table with
10 dealers. The topic at hand was "new ways to get your customers to
choose you over other dealers and choose you over doing nothing." We
filled a white board with ideas.

Interestingly, one of the best ideas that came from that session was
the idea of offering some kind of "unemployment protection" --
meaning, if a customer lost his or her job, you'd take the vehicle off
their hands. This way, wary customers could regain the confidence
needed to make a purchasing decision now, rather than later. We hashed
out the tactics, and how to make the offer work.

Now, 60 days later, the industry news says that Hyundai is offering
the Hyundai Assurance program. Basically, they'll take back the car if
you have a big problem like:

—Involuntary unemployment.

—Physical disability.

—Loss of driver's license due to medical impairment.

—International employment transfer.

—Self-employed personal bankruptcy.

—Accidental death.

Great idea. Wish I would have thought of it...


....wait!! I did!

Anyway, I'm sharing this with you now because this is something any of
you can do. Right away. Hyundai found an insurance provider called
Walk Away out of Canada who already provided the program. They just
package this in for 12 months with every vehicle deal. What's cost?
Probably no more than a few hundred per car. A lot cheaper than
rebates or 0 percent or pay off your trade or etc, etc.

But this is the kind of incentive that is appropriate for these times.

The most important part of this message is this: we came up with this
idea 60 days ago. Rich Dealers Executive members were privy to it. If
you had this idea 60 days ago, would you have done something with it?
If you had, would you have sold more cars in November or December
because of it?

If your intention is to remain in business for at least the next 24 -
36 months, and you're willing to fight for it, and aren't willing to
lay down and get bulldozed over by the bad economy, then I would
strongly encourage you to consider getting involved in the Executive
program yourself. Our next meeting is the first week of February, in
Las Vegas.

Call the office (407-275-8667) and speak with one of us if you're
interested in joining us. Don't miss another killer idea.

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Reader Comments (5)

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