Victory tops 2010 Pied Piper PSI study
Prospect Satisfaction Index measures effectiveness of dealers
The fourth-annual Pied Piper PSI study examines how effectively a brand’s dealerships help potential buyers. The Monterey, Calif., based Pied Piper Management Co. sent 2,014 anonymous “mystery shoppers” into dealerships across the country between July 2009 and April 2010. The 2010 report examined 14 brands. Brands were rated based on a number of factors to produce an overall score.
The motorcycle industry as a whole earned a rating of 103, up two points from the 101 scored in 2009. Victory’s rating increased by five points 107, moving it to the top spot and leapfrogging last year’s leader, Ducati and the 2007-2008 leader, Harley-Davidson.
Victory dealerships scored high for doing the little things like asking for a prospective shopper’s name and contact information. Victory dealers led all brands in asking follow-up questions, explaining what makes the brand unique and encouraging shoppers to sit on a motorcycle.
Ducati lost a point from the 2009 study, scoring 106. Ducati salespeople were the most likely to be able to answer all product questions and were most likely to ask how a motorcycle would be used and by whom. Harley-Davidson also scored 106 and its dealers rated highest in staying attentive and focused on a customer and addressing features and benefits that meet the shopper’s needs.
Suzuki, Kawasaki, Honda, Aprilia and KTM improved their scores from last year though they all remain below the industry’s 103 rating. Husqvarna held steady at 90 points while Moto Guzzi dropped a point to 89, putting it at the bottom of the brands included in the study.
|2010 Pied Piper Prospect Satisfaction Index|
The study found salespeople put in more effort than before as the on-highway motorcycle industry declined by 40%. Salespeople were 42% more likely to ask about a trade-in than they were in the 2009 study. Dealers were also 23% more likely to ask what factors are stopping a customer from making a purchase and 22% more likely to mention what features made their brands unique from the competition.
“Sales process improvement leads to retail sales improvement,” says Fran O’Hagan, president and chief executive officer of Pied Piper Management Co., LLC. “The most successful brands are the ones where prospects hopefully buy during their visit, but if not, they still leave as a fan of the brand and dealership.”
The study also found some areas that need improvement. Only 48% of dealers asked customers for contact information and only 35% of them gave compelling reasons to buy from their dealership. Financing options were only mentioned 52% of the time.