Click to Call
 

The Digital F&I Menu Selling Template

The Digital F&I Menu Selling Template Featured Image

How to educate customers and increase sales.

Team DealerVERO Blog Author Photo Team DealerVERO - Nov 30, 2018

Car sales do not happen by luck or any stretch of chance. They are the product of optimized, proven and results driven templates that are repeated to achieve results. The same applies to your dealership F&I menu presentations. The issue that many dealerships have is that they are using a process that is very outdated and is no longer parallel to the experience a customer wants. This causes friction in the process as we discussed in this article about reducing friction in your sales process

There is a solution to these issues, and simple steps that all dealerships can take to ensure they have a 2018 strategy to help buyers understand the f and i protections that are available to them, without using a traditional menu presentation. At DealerVero we call this DealerFinance. Let's look at a few ways your dealership can focus and utilize modern digital technology that enables your customer to shop for financial protection products where-ever they are. 

Transparency and Informational Should be Your Motto: 

Gone are the days of customers entering the dealership misinformed. Today's vehicle buyers (especially millennials, generation-x and generation-z) interact with technology on a daily basis. It's not enough to simply have a menu selling strategy that converts your paper menu to a digital drag-and-drop format. You need a system that matches the shopping experience that your consumers are used to. 

Think of how you reserve a room on Hotwire or order a new pair of shoes on Amazon. These processes are simple and allow the customer to interact with the product, pricing information, and reviews transparently. This informational approach allows consumers to safely explore these products and purchase them when and where they are comfortable. Your dealership can use this same strategy with F&I products. How? Partner with a provider that enables you to showcase your financial protection products on your website. Bonus: partner with a provider that can display pricing information for these products, and capture leads from interested buyers. This will show consumers that your dealership is different from the typical one-page finance section on a dealer website. It will show your commitment to providing information to your consumers. 

Consistency During the Financing Process

Once the customer enters your dealership, provide consistent information. The information you provide on your website should be the same as the information you have in your store. Use the same videos, text, and images to create a consistent experience. When the customer is reviewing their protection options in your store, you should have a system which allows the customer to drive the presentation. Allow them to shop and easily add products to their purchase cart. Answer their questions and help guide the conversation as if you are in a round-table discussion, not giving a keynote. 

This process will work especially well if you have a single provider, like DealerVero, that manages your website product showcase, as well as your in-store/remote F&I presentation. This will ensure that the customers a sense of continuity; which, will be another trigger that they are doing the right thing. Remember, you are like an instructor in an MBA course, you are facilitating conversation and discovery. 

Bonus: Training Training Training

Your dealership and sales staff need to be product experts and receive regular training on every product you sell. After your customers have the opportunity to review vehicle on your website, find one that meets their wants and needs and visit the store; they will have questions. This is where your dealership will either shine or sink. The "I am not sure, but let me check" will signal to your prospective buyer that you are not a product expert. This leads to confusion and a sense that something is not right. This often surfaces in phrases like "I want to think about it" or "Let me call my husband/wife and see what they think". 

In F&I, the importance of training is magnified 10x. This is where customers are the most uncomfortable, and if you can't answer every question that they have, then you risk losing their interest and trust. Don't get me wrong, not everyone knows everything, we are only human. I have personally had experiences as a consumer in stores where I know more than the dealership staff member, from my 10 minutes of research. Partner with an agency or income development group that is dedicated to your success as a product professional, and constantly provides training and resources for you to further your expertise. 

The 2018 template to successful menu selling is a simple template. Be transparent with your product information online, ensure consistency with your presentation during the financing and get your sales staff and F&I managers the right training to ensure the highest level of success. The dealerships that put the customer in the driver's seat and provide recommendations on the options available will be the leaders in this new digital automotive age. 

 

 

 

F&I Menu Template Transparent F&I F&I Training

People who read "The Digital F&I Menu Selling Template" also read:

Sep 23, 2018
When should you be talking about F&I products?
Nov 30, 2018
Success in car sales do not happen by luck or any stretch of chance.
Mar 25, 2018
Let's walk through a traditional F&I sales experience at an average dealership.
 
  • About

    At DealerVero, we build smart technology for every part of the vehicle purchase cycle: research, sale, and ownership. Our F&I solutions are utilized by dealerships in the automotive, RV, power sports, and motorcycle industries.

© 2019 DealerVero | Privacy & Terms