Feb. 12, 2023

THE FERRARI EFFECT (when sales are too easy) - explained by Jeff Sterns with Jim Ziegler


Jeff Sterns  0:00  
I call it the Ferrari effect. And here's what I mean. You know, I was in retail for 27 years prior to getting into this chat space for the last 11 years. But when I was in retail, I ran an exotic car rolls Bentley and Lotus store that was part of a Cadillac. So I was GSM of Cadillac Land Rover for Richard demit. Starting in 9697, proud that we grew the Cadillac 80% and 20% down year and then did our thing with Land Rover. And then we later bought a rolls and Bentley franchise, I think we paid 100 grand. So when I got into the exotic space, it was not easy to sell a rolls or a Bentley because this was like 99. And it was the silver spur. It was the Brooklands, it was the issuer, they were all leaking, they all had engine lights, and what you know, the big square, clunky, whatever. So I dealt with a lot of other exotic car dealers, and of course, some Ferrari stores and all that kind of stuff when you're trading and doing whatever and I was selling gosh, probably 23, four or five used exotics a month, that were a lot of that stuff. Anyway, the Ferrari dealer and this is not I'm not knocking the great Ferrari dealers that do try to please their customer, but let's say stereotype, you know, they're so used to the customer, begging them to move up the line or doing what they need to do to move up the line or bringing them gifts to move up the line or whatever. To me the selling skills, were atrophying and I remember when we were buying a whole bunch of current model titled CL ks and whatever that were, you know, 10 grand over window I used to tell my buddy at the Mercedes store, don't get that Ferrari factor where you're so used to people walking in and laying down for 10 grand over that you're gonna forget how to sell something because it will change you know, the pendulum will swing. So we've had a couple of years I don't want to take anything away from the people out there that are doing a good job and trying hard and prospecting and staying in touch with our customers and returning calls on time and acting like they care and creating a few other sales not just what's flopping into the boat. This has been Jeff Sterns connected through cars

Transcribed by https://otter.ai

James 'Jim' Ziegler

President - Speaker- Trainer

James A. Ziegler, CSP, HSG: Ziegler SuperSystems, Inc. Jim lives in Chateau Elan Country Club, Braselton, Georgia. For 48 years, Jim Ziegler’s been a recognized industry, writer, magazine columnist, professional speaker, and super performer…following a record setting Sales Career, F&I Manager/Director and General Sales Manager with some of the top automobile dealerships in the country his credentials include…

A record-setting manager with several of the top performing dealerships in the country
Associate Professor teaching Automotive General Management at Northwood University
Associate Professor teaching Automotive F&I at Northwood university
Worked with more than 15,000 dealerships nationwide.
Jim is an Eagle Scout
Red Cross Certified Water Safety Instructor five years
125,000 Dealers, Managers and Executives attended his seminars since 1986.
Teaches Seminars on F&I, Sales Management, Sales, and Internet Marketing
He’s worked in more than 1000 showrooms in 200 cities in 49 states. (not Alaska yet)
The featured opening keynote speaker 98 State Automobile Dealer Association Conventions
Rated in top 10 workshop speakers at 17 National NADA Conventions
Featured speaker at 3 J.D. Power Roundtables
Opening keynote speaker 4 AICPA Conventions
More than 150,000 friends and followers on Social Media (mostly automotive)
Speaker at four Digital Dealer Conventions, including Opening Keynote Speaker at DD2
Opening Speaker on the Big Stage Digital Dealer DD22 Tampa
Featured Opening Speaker Digital Dealer 24 Orlando
Widely Read National Columnist, Automotive Retail (AlphaDawgBlog.com)
Respected industry futurist and forecaster
14 Years as the original featured Columnist in Dealer Magazine
Featured Columnist, five years, for Wards Dealer Business Magazine
Lead Columnist for F&I/Showroom magazine
Featured Columnist for Auto Dealer Today magazine
Writes for ADM Community and Dealer Elite online communities
Prolific Automotive Blogger with hundreds of thousands of followers
Jim’s “Internet Battle Plan” events have been attended by thousands of dealers, managers, and automotive executives.
2006 Toastmasters International Leadership National Award for helping others
Jim is regularly called on by top industry executives for his input on dealer matters
2012 Jim was awarded the “Passion Award” for lifetime achievement in the industry
2012 Jim was awarded the ‘AutoCon’ lifetime achievement award
Jim has been awarded the prestigious Dealer’s Choice Gold and Diamond Awards as Automotive Sales and Management Trainer of the Year Voted on by Dealers.
He is the only person to have won this highest-level award five times, 2014, 2015, 2016, 2017, and repeating in 2018
Recipient of the 2019 Edward Bobit Lifetime Achievement Award
May 9th, 2022 Featured Speaker at Digital Dealer Conference, Tampa