Sunday, 10 August 2014

Selling a virtue ? Virtuous Selling Passionate Respectful Professional and Committed

A Good news story about Selling for August 2014

Last year the 108 outlets of Vertu Motors Group sold 120,000 cars.   The Group’s brands include Bristol Street Motors, Macklin Motors,  and Vertu Honda . ( well done all at Vertu group)
Predictably the Mail-on-Sunday’s Investment’s editor praise for a car salesman began her piece with a  sceptical back handed compliment.

“There are many adjectives associated with new and used car salesmen, but passionate, respectful , professional and committed are not usually among them. Yet these are some of the pillars on which Vertu   Motors aims to build its business.”

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Investment editor Joanne Hart then continues then more straightforwardly praise founder Robert Forrester (“Chartered Account turned Car Salesman”) for the sales growth of his company since 2006. Of course Mr Forrester has a good record in the sector having been a former MD of Reg Vardy.

The board has been strengthened recently by the newly appointed chairman designate Peter Jones ( former CEO of New Lookers).

Sterling’s strength is helping the company’s procurement  as many of the cars  bought are made on the Continent and when the pound is strong euro-zone car makers pass the savings on to buyers to stimulate sales.

Selling servicing

100% absorption rate

Selling cars is a low margin business but good profits are made from servicing vehicles. Three years ago Vertu set up a monthly service plan to help their customers spread the cost of servicing. It has grown a customer base of 60,000.

This focus on customers Vertu invests in staff training  and analyses positive and negative feedback on a weekly bases.

Sales Leadership support from the top

Forrester hand writes congratulation notes to dealers who are complimented by customers.

The 160 strong call centre in  Team Valley, Gateshead addresses queries, complaints and boosts sales.

As an investment the newspaper’s Midas verdict concluded:

“Turning round under performing  dealerships takes three to four years. About 70 % of Vertu’s outlets are in that process so there should be plenty of profitable growth  as these businesses improve. The firm is gaining from growing consumer  confidence too. At 59p the shares are a long term buy.”

Virtuous selling has a long term future it seems even to the sceptical investment community.

Good selling to all at Vertu and other proponents of Virtuous Selling.

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