Conquering Objections Part 4: I Had One Before
In the latest installment of Accelerate’s Conquering Objections series, we cover customers who had a previous poor experience with a vehicle service contract. When a customer declines coverage because they had a service contract before and they didn’t get the value they expected, a few simple yes or no questions can get you over the hump.
Oftentimes, customers don’t fully understand their vehicle service contract coverage when they drive off the lot. Because of this, when it comes times for a claim, a customer may be left feeling underwhelmed. This can lead to a poor perception of the dealer who sold the service contract, and a feeling that they wasted their hard-earned money on a product that didn’t help them in their time of need.
In these instances, a few pointed questions can help you explain service contract coverage more clearly than the dealer that came before you. Here’s how.
Do you know what kind of coverage you had? Sometimes a customer might not even know what they purchased. All they claim to know is that they thought they’d be covered and they weren’t. If the answer is yes, ask for details about what was covered. Eventually, you’ll get to an opportunity to clarify an advantage of the coverage you’re offering. If the answer is no, take this opportunity to clearly illustrate why you feel the coverage you’re offering is superior. Highlighting specialty components, roadside assistance, towing or other benefits can do the trick.
Do you know the company from which you had coverage? The company that provided the coverage that disappointed your customer could shed light onto why they had a poor experience. If the answer is yes, try to get a name. You can then compare reputations side by side with the provider you’re offering, highlighting the length of time in business and online reviews. If the answer is no, rattle off why you feel so strongly about the reputation of the provider you are offering.Do you know the quality of the coverage you purchased? Even if the customer knows what kind of coverage they had in the past and the company from which they purchased it, they may not have realized the different options available. If the answer is yes, showcase a comparable coverage level that you offer while highlighting all that it is missing compared to a higher level of coverage that you can provide. This can prove to be a great upsell opportunity. If the answer is no, you have an open door for a traditional menu sell. Work backwards from the best option you have to offer, highlighting the coverage that drops off as you move along. Finish by providing two or three options, none of which is to fully decline coverage, and asking for the sale.