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Full Episode Blog: Interviewing The Owner of the #1 Volume Mitsubishi Dealer In The US
Are you looking for the best car sales tips to help you sell more cars, hold more gross, and make more money? The top sales associates not only market and sell themselves, but they also sell cars in service. With the right automotive sales training, branding, subprime & special finance deals, and the service drive are the best ways to do so.The Millionaire Car Salesman Podcast Presents: Interviewing The Owner of the #1 Volume Mitsubishi Dealer In The US This week, the Millionaire Car Salesman Podcast focuses on exactly that. Sean V. Bradley and L.A. Williams talk to the owner of the #1 volume Mitsubishi dealership in the US.
Mike Dorazio built his automotive empire on those principles. With proper automotive sales training, branding, and focusing on special finance, Mike has made waves in the automotive industry.About Mike Dorazio
Mike Dorazio is the owner of Platinum Central Pennsylvania. Mike started Platinum eight years ago with one employee on a 35 car lot. Since then, he has grown from the 13 cars he sold each month. Now, Mike has grown Platinum to four locations and sells over 400 cars each month.
Mike, a veteran of the United States Marine Corps, started selling cars when he left the service. Quickly working his way up, he was eventually recruited to another store. And, at the age of 32, Mike became the GM of a car dealership.
Mike also spent a short stint as a partner of a Ford dealership before leaving the industry completely to work on the banking side of the auto industry. Mike spent almost 10 years working for Westlake Financial before taking the leap and become an owner of a car dealership.
While Mike has experienced tremendous growth, he isn’t slowing down. Mike has plans on adding a 5th location in the near future. He believes that while he has had many accomplishments, they are in the past. Simply put, he is looking for many more accomplishments in the future.Show Notes: Car Sales Tips #1: Automotive Sales Training & Education Is Important
You have to constantly educate yourself. Additionally, you must surround yourself with the right knowledge, education, and people. You are not the smartest person in the room. And, once you understand that, then you have to learn.
Mike does not consider himself anywhere near the smartest person in the room. He has had many accomplishments, but those are behind him. In order to have more accomplishments, Mike knows he has to continue to educate himself and surround himself with the people who will make him better.
The moment you think you know everything. The minute you have a closed mind. When you start thinking you know it all and become a dictator. That is when you will start to fail.Car Sales Tips #2: Branding – You Have To Market Yourself
Learn as much as you can possibly learn. Additionally, absorb everything you can possibly absorb. Additionally, look at yourself as an industry. Mike tells his team all the time to push yourself on social media. He started this company with 35 cars. He was heavy on social media and promoted himself and he now sells over 400 cars per month. If every sales person marketed themselves in that fashion, that they are the brand, they would sell more cars.Car Sales Tips #3: Do Not Let Your Surroundings Affect You
Do not get affected by your surroundings. Bad managers, bad operations, bad inventory, bad situations, they can all easily affect you. However, you must not let it get to you. Sales associates do not need to rely on any of this. They only need to rely on themselves. Especially if they are their own brand.Car Sales Tip #4: Build Leverage Through Your Brand
Building your brand will give you leverage. You are building leverage with everyone around you. But, you have to also bring that leverage with you. When you come to the table, bring that leverage.
If you are renegotiating your pay plan, bring that leverage with you. Also, if you are in a job interview, bring that leverage with you. Most importantly, if there is something happening at work that you don’t like, bring that leverage with you.
If you want to get to the next level, you need to have a brand and leverage. Whether you want to become a GSM, GM, owner, or dealer group owner, this is where it all starts.Working the Service Drive is One of The Best Car Sales Tips! You Need to Sell Cars in Service
NADA says that service customers are 7 times more likely to purchase a vehicle from the same place they service their car at. The problem is that sales associates do not see it as an opportunity. Not only is it an opportunity to build a relationship, but it will eventually turn into a sale. People need to shift their mind on the way they approach a customer. It needs to be a relationship based approach.The Benefits of The Service Drive is About Relationships
The benefit is the relationship is going to lead the customer into buying a car off of you. Offer service customers a cup of coffee or a bottle of water. Also, ask them about their car. “I see you are driving a 2018 Outlander. Have you seen the new 22 Outlander. I am not trying to sell you one, but did you want to come sit in one. They just came out.”The Service Drive is About Relationships
A lot of times the sales department separates themselves completely from service. Ultimately, it means the sales department is ignoring the customers that are seven times more likely to buy from you. Ignoring the service department is a mistake that will prevent everyone from selling more cars.
It’s not just ignoring the customer relationship either. If you want to be a great sales associate, service is your biggest resource. The stronger your relationship with the service department employees, the people having contact with the customer, the more opportunities you will have.Special Finance & Subprime Deals is Another One of The Best Car Sales Tips! You Don’t Have To Sell Price
Everyone today is in the price game; the race to the bottom. However, the niche that is not being taken care of is subprime. This is where the most opportunity lies. Not just for growth, but also for gross profit.Special Finance Deals Take Work, But Subprime Customers Are The Best
Why is the subprime market not a primary focus at other dealerships? Because it is hard. Everyone wants the easy deal. Additionally, they do not want the “nightmare” subprime deal. However, anything worthwhile in life is hard. The same is true in the automotive industry.
The hard deals. The ones you have to grind out to get done. Those are the best deals. Not only in the gross profit on that particular deal though. But also with acquiring the most loyal customers.
The loyalty and gratitude from subprime customers after taking them through that journey is significantly greater than prime customers. Moreover, they will be the biggest advocates of the dealership, referring everyone they know to you.Special Finance Customers Do Not Mean Special Treatment
Mike’s whole business was built upon the subprime market. They always go to Platinum for their vehicle needs. Essentially, Mike and his staff treat all customers the same. From 380 credit scores to 800 credit scores, everyone receives the same treatment.
Other dealerships treat subprime customers as “second rate” customers. Additionally, other dealerships will broom them off the lot. They won’t follow up with them. Nor will they call them back. This further drives Platinum’s repeat customer and referral sales.More About the Millionaire Car Salesman Podcast's Hosts & Guests Sean V Bradley | L.A. Williams | Mike Dorazio Resources For More Car Sales Tips & Automotive Sales Training
The Against All Odds Radio Show: Hosting guests that have started from the bottom and rose to the top. Also, join The Against All Odds Radio Show Guests & Listeners Facebook Group for the podcasted episodes.
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