| Mastering the Special Finance BDC | | | | especially the BDC. You don’t “Luck Up” |
| Here is what’s possible in a BDC using Internet | | | | on a good relationship just like you don’t |
| leads as the example. | | | | “Luck Up” on a winning BDC. The BDC’s |
| • 91 of those get set as a solid appointment. | | | | of today simply don’t pencil, and for the ones |
| • 85 of shows close and hopefully fund. | | | | that do, they’re bleeding millions in lost revenue. |
| If you talk to Joe McCloskey, owner of McCloskey | | | | Here are some critical things to consider regarding |
| Motors Inc., a group of new and used car stores and | | | | your BDC. |
| a NAPA Service Center in Colorado Springs, Colo., | | | | • “The room controls your checkbook |
| who uses the Mastery Council BDC system | | | | TM.” Any reception point of a dealer’s inflow |
| exclusively, he’ll show you closing numbers closer | | | | dictates traffic, and as a result, deal count. |
| to 40 percent of appointments that show. | | | | The players on the phone have to be good enough |
| Don’t think it’s possible? I have several | | | | to get someone to send them money via Western |
| stores closing between 18-30 percent of their | | | | Union for no reason. They cannot be just good |
| special-fi leads, and I’m sure they’d love to | | | | enough to set an appointment. |
| hear from you! So with that said here goes the | | | | • If what your saying sounds like the guy across |
| rant… | | | | town then it’s time for an overhaul of the |
| When it comes to the BDC/CDC most anyone that | | | | scripts. |
| knows anything is smart enough to know that | | | | Have your BDR’s sign non-disclosure agreements, |
| anyone who claims there’s a turnkey, 12-step | | | | in case you stumble onto something great. We |
| program to BDC excellence is just trying to get your | | | | require all of our stores to do this as it helps us |
| wallet. Most of the BDC processes of today are a | | | | document the intent to protect copyrights. It works. |
| colossal disaster at best. A collective infection of | | | | • Know your indicators. What’s low-contact, |
| “Debbie The Time Life Operator Syndrome | | | | low-show or too-high of show rate mean? These are |
| TM” meets the car biz. | | | | trend indicators and point to training and performance |
| Performance expectations are weak at best. Current | | | | needs. Know what they are, and what they mean |
| industry benchmarks are setting the bar — not | | | | instinctively. |
| just low, but flat-out under water. Pay plans, tracking | | | | Remember, that it’s not that things work or |
| systems, recruiting techniques, scripts, commonly | | | | don’t work, it’s we work or don’t work. |
| heard objections, rebuttals, CRM philosophies, training | | | | It all comes down to people. BDC’s are |
| programs, room design, employee work hours and all | | | | expensive, which potentially makes them a feast or |
| the way down to the telephone’s being used, | | | | famine venture so be sure to pick a rope and climb |
| are in more dire need of a make-over than my first | | | | it, but make sure to pick the right rope first. Now |
| house. | | | | have a great month! |
| There are no short cuts to this business and | | | | |