September 10, Presented By. Ron Reahard. Name

Transcription

1 September 10, 2015 Presented By Ron Reahard Name

2 Right Clicking In A Left Click World Today s Expectations Fast and Easy Make buying a vehicle faster, easier and more user friendly. The mouse makes using a computer faster, easier, and more user friendly. A click of the left mouse button quickly performs a desired action, while a click of the right button produces a drop down menu of additional options that enable you to complete other commonly performed tasks. Today your F&I has to do the same thing for customers as right clicking their mouse. Provide customers a drop down of additional options to enable them to complete their vehicle purchase. Make them want to know more about those options! Help them determine which options they. We Are the Connected Generation Two recent surveys of more than 10,000 consumers in ten countries found: use the internet for vehicle research before they start shopping. are initiating the car-buying process online, before entering a dealership. An online retail Finance & Insurance Study of consumers by Make My Deal found: believe F&I products have real value. are interested in learning more about F&I products. would be more likely to purchase F&I products if they could learn more about them on their own time, before finalizing their vehicle purchase. We re all now worshiping the God of Google. We ve gone from a need to know information to a need to information. Showrooming Using their mobile device to shop elsewhere while they re at the dealership. When a customer is waiting to go into the F&I office, they re you! When it is their research, it s always! Copyright 2015 Reahard & Associates, Inc. Page 1

3 F&I Must Engage the Customer Early, Often and Throughout Website List of all finance sources Menu of F&I products F&I product details Credit Application Payment calculator Affordability calculator Offer financing tips - Include helpful links Create interest in talking to a Finance Manager - Provide answers to FAQ Online Customers From Initial Contact On Chat? Following submission of a Credit Application Upon customer commitment to buy Page 2 Copyright 2015 Reahard & Associates, Inc.

4 F&I Must Engage the Customer Early, Often and Throughout (cont.) On the Showroom F&I manager reviews the credit application & conducts credit interview prior to submission to a lender Parameters for the desk Practice Transparency F&I is responsible to convert customers to dealership financing! F&I submits every deal F&I discloses actual payment upon lender approval In the F&I Office Add to the purchase experience. F&I Managers must engage the customer in the process. F&I Managers must use visual aids. Have conversations about their options, stop making presentations. F&I Managers must allow the customer to self-discover the value. Copyright 2015 Reahard & Associates, Inc. Page 3

5 Eliminate the Wait Bring the customer back to the F&I office immediately! Unless they already have someone in the office, there is no excuse for making someone wait! If you can t bring the customer back immediately: Tell them how long it will be. Manage their wait time. Keep them informed. Eliminate the showroom interrogation. Ask needs-discovery questions as preparing/printing forms. Every customer asks himself or herself What is the purpose of this conversation? Stop customizing menus in! Customizing the menu with the customer allows them to see we re there to help them by adjusting the products, coverage and payment based on their wants, needs, and concerns! Offer every product every time! Use auto-fill menu. If your menu software is not easy to customize with a customer, If your menu software is not DMS integrated, If your menu software is not saving the customer time, If your menu software is not saving you time, Page 4 Copyright 2015 Reahard & Associates, Inc.

6 Reduce Their Fear Put the customer at Who you are What you re going to do How long that s going to take Offer to serve Change the Create an atmosphere that ensures every customer has an enjoyable, stress free experience Clean office, comfortable chairs, family photo, a plant, a scenic picture, a candy dish A conversation starter NO ADVERTISING! Change their Care Customers don t care how much you know, until they know how much you care. Have fun! Collapse confrontation Scratch their record Eliminate all sales pressure Change your asks about YOU! from selling to helping. There are three questions every customer 1. Can I trust you? 2. Do you know what you re talking about? 3. Do you care about me as a person, or are you just trying to sell me something? Put Customer at Ease Change the Environment Change Their Perception Change Your Focus Copyright 2015 Reahard & Associates, Inc. Page 5

7 Stop the Disconnect Today s consumers spend a huge amount of time reading product reviews and researching their purchase. They are NOT interested in someone reading them coverage from a brochure or watching an infomercial. They are looking for accurate, unbiased and information. They demand transparency. They do need someone to help them analyze, evaluate, and filter through information. They their questions to be answered. They still run their decision trusted family members for confirmation. When someone at the dealership questions the validity of their research or the decisions they ve made as a result of that research, rather than debate it, they assume that person is either wrong, uninformed, or, and they don t buy whatever that person is selling. Page 6 Copyright 2015 Reahard & Associates, Inc.

8 Discover Their Needs Selling F&I products is like building a house - Just as the most important part of a house is its foundation, the most important part of a sale is the needs discovery process. If we don t discover any customer needs, we have no foundation on which to build the sale of our products. Use a blueprint Make a list of questions you re going to ask every customer. Get organized Where are you going to ask those questions? Become genuinely interested in them! Understanding a customer s wants, needs, and concerns must always precede any attempt to sell them something. What are they really saying? Recognize that is something you must do for personal and professional success. It gets you the information you need to sell your products. Want to listen better! Every human being is unique. So are their needs. Any F&I product presentation should be tailored to that customer s unique needs How will this product help them? What end result benefit will it provide? What problems will it solve? What problems might it create? Selling a tangible product requires creating. Selling an intangible product requires discovering a. Selling intangibles is need fulfillment! If they don t need it, you can t sell it to them! Copyright 2015 Reahard & Associates, Inc. Page 7

9 Create Customer Interest Close the communication gap Technology has changed the form of communication, but not what the communication is. Whether communicating with a customer via text, tablet, cell phone or faceto-face, anyone seeking to influence someone else must: is the currency of today s customer. Commit to transparency. Be a Consultant, not a car salesman. Embrace Open-Source Selling. Sell based on the customer s. Sell every product from a position of strength. Make em. Focus on their needs, not your needs Use the internet. It provides credibility. For example: autoconsumerinfo.com. Let them learn more about F&I products Let them see when their factory warranty will expire Let someone else tell them why they need a service contract or GAP The best piece of advice which can be given to would-be persuaders is this: Arouse in the other person an eager want. One who can do this has the whole world with him. One who cannot, walks a lonely way H.A. Overstreet, Influencing Human Behavior Page 8 Copyright 2015 Reahard & Associates, Inc.

10 Right Clicking in a Left Click World Means Selling F&I Products Today Demands That: 1. F&I must engage the customer early, often, and throughout the entire sales and F&I process. 2. We eliminate the wait; so F&I is viewed as expediting, not prolonging their purchase experience. 3. Reduce the fear every customer has when it comes to buying a car. 4. Stop the disconnect between their online and dealership experience. 5. Discover their needs so we can fill those needs. 6. Create customer interest in our products, so we re not selling, we re explaining their options and answering their questions to help them make the right decision for their family. Notes: Copyright 2015 Reahard & Associates, Inc. Page 9