The Road to ROI with F&I

Employees' reduced levels of commitment, energy, and drive translate to reduced productivity. Consequently, employee motivation is critical for business success. At a dealership, employees face challenges that can quickly lower their morale. As such, there is a need for dealership owners and managers to motivate employees constantly. Here are six strategies you can use to encourage and motivate dealership employees.

Hiring the wrong applicant can erode morale, decrease productivity, and corrode the dealership’s image, not to mention the considerable expenses spent and lost in the hiring and training process.

Whether you are starting out or already have a thriving business, you might have heard time and again that the cost of acquiring new customers is five times more than retaining the existing ones. That's true for many businesses amid the intense competition, especially in the crowded e-commerce arena, where purchase rate is of paramount concern.

Have you ever had an employee call out sick or not show up for their shift? Or worse, have someone quit on the spot? These are all situations that can leave a dealership scrambling. Having a fill-in F&I specialist on-call can help combat these emergency issues. Here are a few things to know about F&I specialists:

Customer service plays a huge role in the success of any dealership; it's one of the top reasons why people go to dealerships and tell their friends and family members about their experiences there. Dealerships have realized that good customer service can make all the difference in increasing referrals, word-of-mouth promotion, and repeat business. However, most dealerships are still short on providing excellent customer service, which can be an easy fix with these three simple tips.

Dealership success can be significantly aided by enthusiastic participation from all staff members. Employees are most productive when they are constantly encouraged and motivated. As a dealership decision-maker, you are responsible for creating strategies that will maintain constant staff enthusiasm for the company’s goals and objectives. This, however, begs the question: how?

Every business’s success, including that of your automobile dealership, greatly depends on its team members- a business is only as successful as its staff. No matter how effective the management is, it is the employees who make or break a business. They are the company’s lifeblood who carry out your mission and interact with customers to generate revenue and strengthen your brand.

Customer service is an important but often overlooked aspect of running a successful dealership. Here are five ways to improve your dealership’s customer service.

There are state and federal regulations that every car dealership is required to comply with. The automotive industry has multiple regulations that are overwhelming for most dealerships. However, our consulting firm is here to guide you on the best ways to maintain compliance when operating your dealership. Let's discuss the three ways to achieve this!

Clear communication between the sales desk and the F&I department is vital to a company. Bringing together the team to work in unity takes effort. A cohesive unit is key to maintaining a good brand and attracting profits while providing a conducive work environment for employees.

We have discussed three sure ways to enhance clear communication between the F&I department and the sales desk.