How a Boat Salesman Can Get Better Compensation
Sales is a great way to earn a living, and the boating and watercraft business allows you to combine your passion for the water with your knack for selling. Unlike a pure enthusiast, a boat salesman has the opportunity to explore the latest models and timeless classics up close while growing the industry and connecting people with the open water.
While every business has its high and low seasons, the market fluctuations in watercraft sales can make it especially tricky to keep your commissions up. The average boat salesman is always looking for ways to close more deals and develop their career, and there are several great ways to boost your paycheck and connect with opportunities.
At V20 Recruiting, we’re boating enthusiasts who have turned our passion into a profession helping people in the marine and powersports industries get the most out of the career they love. We’ve put together our top tips and strategies any boat salesman can use to increase their take-home and land their dream job.
Leverage Your Dealership BDC/CRM Software
More and more dealerships have a business development center (BDC) these days. These dedicated call centers help route phone traffic, develop and qualify leads, and maximize your dealership’s revenue opportunities. It’s a powerful tool that can deliver huge returns on the investment.
If your dealership doesn’t have a BDC, they almost certainly have CRM (customer relationship management) software. These systems let you analyze, organize, and optimize your potential customers so you can focus on connecting them with the products they need with a financing package that makes sense.
These tools can help you identify and reach out to various types of customers as opportunities arise.
- High-intent customers: These are people who want to buy soon, have a decent idea of what they’re after, and can afford cash or financing for the purchase.
- Recent sales: After a customer has had a chance to enjoy their new purchase for a little while, a smart boat salesman will reach out to see how things are going. These are opportunities to sell services or supporting products.
- Special Opportunities: You can generate high-intent customers by identifying upcoming sales or used boats that may better fit the budget of a medium- or low-intent prospect.
If your dealership doesn’t have CRM software (or you don’t have full access to it), create your own database. As you chat with customers who are browsing, calling in, etc., politely ask for their contact information so you can build an email list, stay in touch, and set an appointment.
Focus on Improving Back-End Commissions
In addition to the front-end commission you earn on your sales (usually a percentage of the profit on the sale), most dealerships offer a back-end commission as well from other parts of the sale.
Here are a few back-end items that often come with commissions, and you’ll want to make sure that you include them in your sales process. These add up fast in your paycheck while building customer loyalty.
- Service plans
- Extended warranties
- Financing packages
- Accessories
- Tools
- Upgrades
- Trim packages
- Memberships
- Boat towing/emergency assistance plans
Depending on how well you know your dealership’s commission structure, you may be leaving thousands on the table. Explore all your options and remember: it’s all about adding value for your customers.
Know Thy Dealership
By learning as much about your dealership as possible, you begin to uncover new ways to leverage policies, upcoming sales events, etc. to make more money. Here are some examples:
- Marketing: Knowing how your products are being marketed can empower you to better target products to customers. Most people have spent a lot of time on your website before they pick up the phone, and they’ll probably have very specific questions they couldn’t find online.
- Long-term inventory plan: When you know what’s coming in and when, you can further leverage the BDC or CRM software data to identify when a medium- or low-intent customer may become a high-intent one.
- Upcoming sales and special events: You’ll hear about these in monthly team meetings, of course, and you’ll need to stay engaged with the sales community to be on top of what’s going on. This can allow you to plant seeds in customer’s minds for upcoming opportunities, network with peers, and explore other career opportunities.
- Management personality, leadership style, and track record: Knowing this information allows you to better predict what your managers will allow in terms of advance sales, price matching, negotiating, etc. You’ll close more sales, and faster.
- Brand/product line integration and cross-compatibility: Understanding how companies have interconnected all products in a brand or line allows you to sell more relevant SKUs and make cross-compatible substitutions when a primary item is out of stock.
- Dealership’s competition: Investigating what other dealerships are offering with product lines, sales, etc. gives you a powerful edge.
Move Up in the Industry
Climbing the industry ladder is often the best way to turbocharge a boat salesman’s earnings. But maybe you’re maxed out in your current job, looking for more opportunities, dreaming of working with a particular brand, or perhaps you’re just in a lower-earning market and not sure how to climb. There are many possible obstacles in the career path of any boat salesman, and these can be frustrating, difficult circumstances to overcome.
This is where V20 Recruiting can be a lifesaver. We know the boating industry inside and out, and we work with clients across the country 100% confidentially representing the most prestigious watercraft brands. There’s no cost to get your resume on file with us and speak to a recruiter, and we can help you explore the next steps for success. In fact, most of our candidates are already gainfully employed, and we specialize in providing them with opportunities they never knew existed.
We also offer extensive services for our job-seeking clients, everything from resume services, career advice, interviewing techniques, and relocation assistance through our partner Global Mobility Solutions.
V20 Recruiting is ideally positioned to help you find the best and most fulfilling job for you and your family. Contact us today to discuss your next big steps, and start supercharging your career as a boat salesman.