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The Secret to Averaging $1500 PRU

The Secret to Averaging $1500 PRU Featured Image

Team DealerVERO Blog Author Photo Team DealerVERO - Sep 19, 2018

Ancillary Products Are your Best Bet For Increasing F&I Profits. In today's car shopping experience, customers are looking for a frictionless car buying opportunity. What does this look like? 

Give Information First:

Dealerships who leverage the power of their website to display F&I products drastically increase customer satisfaction and sales. If customers know about the products you offer...they will be more interested in purchasing them during their vehicle sale. This simple self-discovery principle is how automotive buyers in 2018 shop. 

Consistency:

Your prospect has decided to purchase a vehicle from your dealership and they expect consistency in your F&I product presentations. This means using the same products, giving consistent pricing (if you gave this to them before) and providing them with proper media to support the value of the products. 

Educate to Validate:

Once your customers see the consistent information about your F&I products, you are uniquely positioned to become an educational resource for your consumers. Help them see real-life examples of how a protection has helped save a previous customer money. Show your customer examples of the components of their vehicle that would be covered by the protections you are presenting. 

Finally:

The last step is one that 89% of dealerships do not take. FOLLOW-UP. Ensure your dealership has a consistent way of communicating with the customer in their prefered communication medium. This will ensure your customers have an opportunity to consider products they didn't purchase. Our research indicates between 5 - 20 follow-up communications will provide your customer with the number of opportunities to sell your products. Remember to keep these interactions frictionless as we talked about earlier. 

If your dealership does all of these things, you will consistently see a substantially higher PVR and a much higher F&I CSI score. 

Success Mindset Sell More F&I Products

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