Issue link: https://read.dmtmag.com/i/183375
46 • October 7, 2013 • Powersports Business DANTZLER 44 CONTINUED FROM PAGE 49 percent entertainment. The content is out there in other places, but the manner of delivery is all mine. It's my damn good show that I don't discount. How about you? Yes, there are times that you can give the most amazing show/experience in the world, and people will still ask for a discount. Then what? First off, recognize that this is in the minority of situations, as most will graciously pay retail if the show is worth it. However, there are two fundamental strategies that should be used to overcome this. Remember, these are to be used AFTER the full show has been given, and as a last resort to actually discounting the fresh, current inventory. Rebate program — Rebate programs are SOLUTIONS everywhere, as they are such a better option than discounting for your customers. Hotels, airlines and even frozen yogurt stores are getting in on the action. Spend money today and earn freebies to come back to use later. Rebate programs trump discounts for three major reasons. 1) A 10-percent discount on a $100 item is $10 in real dollars that you didn't recognize today. With a 10-percent rebate instead, you recognize today's extra $10, and give the customer $6 Monopoly money (assumes a $10 coupon and a 40 percent margin in your store) to use later. 2) To get that customer back in the store, where the discount program doesn't encourage repeat business. 3) Most people will come in and up-sell themselves, knowing the first $10 is "on the house." The math actually works out such that a 20 percent rebate costs the dealership less www.PowersportsBusiness.com than a 10 percent discount. More importantly, it's much cooler to carry the motorcycle dealership's card in my wallet over that of the local Fro-Yo yogurt store! Have a discount or clearance area — This strategy works well to direct the customer to products that need to go away, and AWAY from the inventory that you don't want to discount. The idea is never to discount your fresh inventory, but have ample alternatives to refer customers to who may be looking for a "deal." "Oh you're looking for a smoking deal? Well let me show you these jackets, then. This is the best deal in the dealership!" The customer's ego will not let him buy the cheaper one at the discount as opposed to the one he really wants at retail. Years ago I went whitewater rafting down the Chattooga River in North Carolina. We were coming up to five class-V rapids in a row at the end of our six-hour trip, and the woman next to me asked the guide "What should I do if I fall out of the boat in there." The guide looked at her and said simply, "Well, just don't do that." It was good advice. At the end of the day, the best way to overcome a customer asking for a discount is to not have a customer ask for a discount. Create such a relationship with the customer that asking for a discount would be embarrassing or outlandish based on the experience they just received. The better the experience, the less chance a discount conversation will ever come up. Embracing the notion that you sell an escape and NOT a tangible good refocuses conversations on people, not things. PSB Sam Dantzler is the founder of Sam's Powersports Garage, a membership website dedicated to best practices and all-staff training. He can be reached at sam@samspowersportsgarage.com. EDITOR'S CHOICE Selling to her emotional brain BY LESLIE PREVISH CONTRIBUTING WRITER Brain scans don't lie. When women make decisions, they usually access both rational and emotional parts of their brain. Most men make faster, less-emotional decisions. Here are two ways to sell to her emotional side using memories and future aspirations, which can be applied in-store during the sales process and online via website, email and social media marketing. BRING UP THE PAST Many women are introduced to powersports via close friends and family members in their lives — fathers, brothers, sisters, boyfriends, etc. My dad gave me my first ride when I was 8, and sadly passed away a few months afterward of a sudden heart attack. Mom sold the bike, but that seed was planted and has directed my life in ways I never imagined. When she comes in your store, ask her to talk about her favorite experiences in the past, and who has inspired her. Listen as she tells you why she wants to get into the sport, or upgrade to a new model. Post motivating stories on your website, social and email avenues about local women and their journeys. Include quotes of who encouraged them and the incredible benefits they've realized from the sport. 50 Powersports Dealers will be recognized in the industry for business operations, customer service, marketing tactics & more! ARE YOU A POWERSPORTS BUSINESS POWER 50 DEALER? SEE YOURSELF NOW Live life today. It's a theme amplified after 9/11, and has spurred thousands of women — and men — to stop putting off their dreams and embrace the now. Ask her how long she's wanted to buy a new model, or upgrade, and what's kept her from it. Knock down the barriers by highlighting the emotional benefits she'll realize from the purchase. Family is important. Help her envision herself enjoying your product or service with family members, whether it's a husband, kids, grandkids, sister or even nieces and nephews. In your marketing efforts, highlight photos of family members enjoying quality time on the road, water or trail. Include stories of how their time together has strengthened their relationships and created memories emblazoned upon their hearts. PSB FIND OUT WHO IS. COMING OCTOBER 17, 2013 06113S Sponsored by P44x46-PSB13-Solutions.indd 46 READ MORE of this column from longtime Harley-Davidson employee Leslie Prevish online at PowersportsBusiness.com. 9/25/13 12:25 PM