Four Ways to Put Your Customer at Ease
View PDF | Print View
by: goreahard
Total views: 57
Word Count: 2005
With all the warnings customers get from 20/20, consumer reports and
their local credit union about deceptive sales practices and "hidden
profits" dealers make in the F&I department, some days it feels
like there is a big yellow warning sign outside the F&I office that
reads "Caution: F&I Manager Ahead!" I travel in airplanes all the
time. Occasionally, I'll get into a conversation with my seatmate.
Invariably, at some point, they all ask the same question,"So, what do
you do for a living?"You ought to see the look I get when I tell them I
train finance managers for car dealers.You'd think I was a terrorist.
Their eyes get big, they swallow hard and they start looking around for
a U.S.Marshal to throw me off the plane. After a few seconds of awkward
silence, they feel compelled to relate the sordid tale of the last time
they bought a car, and the horrible experience they had in the F&I
office.
Many complain about having been forced to wait 20 to 60 minutes just to
get into the finance office. Once they are finally allowed an audience
with the F&I "god," they perceive him to be pushy, less than honest
and focused on his own agenda (i.e., trying to sell them something).
Often, they describe F&I managers as unprofessional and
confrontational.
Even worse, if the customer doesn't immediately agree to buy what he is
selling, the F&I
professional becomes downright rude.
Today's customers don't want to wait 30 minutes just to get into the
finance office. They want the paperwork to be easy to complete and
understand, and they want their questions answered. They want to deal
with a knowledgeable able professional who treats them with courtesy
and respect, whether they buy anything or not. Customers expect to be
able to choose from a variety of financing plans and options, and they
want to feel like they got a "fair deal." They don't want to feel
pressured to buy something they don't want.
The only way to change the customer's perception of the financial
services process, as well as the media's perception of F&I,is by
changing the way we do business. We must create a measurable difference
in the mind of the customer that separates us from the competition in a
positive way.
Today's financial services professional must utilize a dialogue
approach to sales, as opposed to a memorized or canned product "sales
pitch." You can't just whip out a brochure and launch into a sales
pitch if the customer isn't interested in the product. A financial
services professional must focus on the customer and their unique
needs,not merely product benefits. We want to exceed customer
expectations and delight customers by providing a more satisfying and
enjoyable purchase experience, while increasing dealer profits through
a customer-focused financial services process.
Every dealership, every customer, every sale is unique; and every
F&I presentation must be tailored to that customer's unique needs.
To ensure every customer receives a thorough explanation of their
options in the minimum amount of time, with the maximum chance of
F&I product sales, there are four keys to ensuring a customer
focused financial services experience. Let's explore each one.
GET DOWN OFF YOUR THRONE
For a customer, going back to the F&I office is like going to see
the Wizard of Oz. Remember that scene, when Dorothy, the Tin Man, the
Lion and the Scarecrow shook and trembled as they walked down that
ominous hall to see the Wizard? We can eliminate the customer's fear of
the unknown by getting down off our throne, coming out from behind the
curtain and greeting them where they're relaxed and comfortable (i.e.,
in the salesperson's office).
Sometimes, greeting the customer is the hardest part of your entire
presentation, especially if it's 9:30 at night and you were supposed to
get off at six. But when you have a customer, it's "Showtime at the
Apollo." Every customer deserves a good show. The customer's first
impression of you is critical because it sets the tone for your entire
interaction with that customer. Be enthusiastic. Put on a smile and
have a spring in you step. Shake everyone's hand. Get on a first name
basis if at all possible. More importantly, have FUN with the customer!
Have you ever walked by a salesperson's office and heard a customer
laughing and talking? You know the next place you'll see that customer
is in your office to discuss how they'll finance the vehicle. It's no
different in the F&I office. If you can get a customer to laugh in
the first two minutes, they'll buy F&I products!
DON'T MAKE CUSTOMERS WAIT
One of the most important things you can do to change the customer's
perception of the financial services process is to stop making them
wait to come into the F&I office. Unless you already have someone
in your office, there is no excuse for making a customer wait. As soon
as the salesperson completes the buyer's order or worksheet, go out and
greet the customer in the salesperson's office. Put the customer at
ease immediately. Introduce yourself. Tell them who you are, what
you're going to do, how long it's going to take, and offer them
something to drink.
"Hi, I'm John Smith, the financial services anager here at ABC Motors.
It's my job to complete the paperwork for the Department of Motor
Vehicles, arrange your financing,
if any, and take care of all the legal documents. This should take
about 30 or 40 minutes. Before we get started, what can I get you to
drink: coffee, bottled water, a soft
drink, maybe something with an umbrella in it?" The key here is to be
urgent to serve -not urgent to sell!
Now it's time to bring them back to your office. Remember, you're not
on some top secret assignment back there. So, let them see what you're
doing. Examine the buyer's
order and let them see you verify that all the figures and information
are correct. It's also a good idea to review the customer's statement
and credit bureau report. The key here is to understand the
circumstances and details surrounding any adverse credit information
disclosed by the customer or the credit bureau report. And this needs
to be
done prior to submitting the credit application.
Why? You need to find the reasons why this customer is a good risk to
help your paper-buyer justify an approval or a changing of the tier
level.
Ask open-ended, needs-discovery questions as you enter customer
information into the computer to understand their wants, needs and
concerns. The key is to be
genuinely interested in the customer. You can do this by engaging the
customer in a conversation. Do this to find out why your customer needs
your products.
Remember, if you expect a customer to be interested in what you have to
say, you must first be interested in what they have to say!
CHANGE THE ENVIRONMENT
Changing customer perceptions also demands a change in environment.
I've told dealers for years to make sure there's a distinct difference
from the tiled showroom floor and the floor inside the F&I office.
Often, I suggest that dealers add a one-inch pad under the carpet
inside the F&I office. That way the customer knows they've left the
sales environment once their feet touch that soft, padded carpet.
Your office must also contain a picture of your family. A customer
needs to know you're just like him or her.He or she needs to know you
also have a family, a brother, a sister,
a spouse, kids, a dog and a cat. If you don't have a family, go down to
Walgreen's and buy a frame. It'll have a family in it.
Your office should also contain a conversation starter; something
unique or unusual that will help you break the ice with the customer.
It could be an autographed picture of
someone famous, a baseball or golf club. It can even be that "computer
on wheels"device that helps customers understand the need to buy a
vehicle service contract. A scenic picture on the wall will help relax
the customer.A live plant also helps change the environment. It tells a
customer a lot about you. The great thing about having a healthy plant
in your office is you have to take care of it. This makes you a
caregiver. A candy dish makes a customer feel welcome. It says,"We're
glad you're here!"
Some things your office should NOT contain include manufacturer's
promotional materials or sales awards. And there should be absolutely
NO product brochures
visible when they walk into your office. A brochure immediately tells a
customer you're going to try and sell them something. It's also a
ticket for the be-back bus because it
communicates the fact they don't have to buy today. What it says is
they can take the brochure home and think about it.
CHANGE THE EXPERIENCE
Selling our products isn't something we do to someone, it's something
we do for and with them. In the F&I office, understanding a
customer's wants, needs and concerns must always precede any attempt to
sell them something. Selling F&I products isn't just about helping
the dealership, it's about helping the customer! Selling F&I
products to an informed consumer depends upon your ability to find and
fill his or her needs … NOT on your ability to get people to buy
something they don't want, and don't think they need. If you're not
genuinely trying to help the customer, then the F&I process is
adding no value to his or her purchase experience. If the F&I
process is not adding value to the purchase experience, then it is
alienating your customers. And that hurts customer satisfaction. There
are two questions you need to answer: How can you ensure you're
helping as many customers as possible, and how can you remove the
pressure customers feel when going through the F&I process?
Easy … use a menu to present every product to every customer every
time. Give the customer options, not sales pitches. The use of a menu
can dramatically reduce the amount of time customers spend in the
F&I office. A menu allows customers to select the products they
want,and ask questions or voice concerns about the ones they don't
think they need. This allows us to focus on what is important to the
customer, and give him or her a chance to discuss why that product may
be especially important to them. Rather than "selling," you're simply
reviewing options, and trying to help the customer make the right
decision based upon their unique situation. Getting rid of that warning
sign requires the F&I process to be an enjoyable part of the
purchase experience.
A financial services professional must get down off his or her throne,
bring that customer back to the F&I office as quickly as possible
and remember the most important part of your job is to help customers.
This is achieved by changing the environment, as well as changing the
experience. That means helping every customer make the best decision
for him or her and his or her family. If your customer doesn't leave
your office with a smile, there's a good chance that warning sign might
just be outside your office the next time he or she is looking for a
vehicle. ?
Ron Reahard is president of Reahard & Associates Inc., an F&I training and consulting
company. He conducted the workshops "Objections Are A Great Thing!" and
"Using All The Tools In Your Toolbox!" at the 2006 F&I Conference
and Expo in Las Vegas. You can contact Ron at 866 REAHARD. DEALER
SATISFACTION Some things your office should NOT contain include
manufacturer's promotional materials or sales awards.
About the Author
Author Bio
Rick McCormick is senior training consultant for Reahard &
Associates Inc.,which provides customized in-dealership F&I
training, F&I Training, Auto Dealership Training
F&I Products, F&I Sales Menu, Menu Selling F&I Menu Training F&I Classes
This article is provided by the author exclusive for Article-Zine.Com website.You are free to distribute this article only if you made a clear statement on your website or print, which clear mark the original source of the article to be http://www.article-zine.com
Rating: Not yet rated
