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.”
What are the adjectives one should associate with
Salespeople? ‘Anatomy ‘ of Salesperson Attributes Skills and Knowledge
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.
Good selling to all at Vertu and other proponents of Virtuous Selling.
Related Links
No comments:
Post a Comment