Finance and Insurance Departments are a staple of any dealership. They bring in revenue and are a key piece of customer service. But just as the dynamics of sales have changed with technological advancements and online consumerism, F&I is a competitive field that requires active engagement and constant learning to stay ahead. A good way to stay abreast of the best practices in the field and grow your business network is by attending yearly F&I Conferences and Expos with your team. Listed below are 4 reasons an F&I Conference can improve your dealership.
Stay Ahead of Your Competition
It's no secret that competition is fierce in the auto sales industry. To remain competitive, dealership owners, principals, and managers need to focus on improving every aspect of their business, not just sales. Unfortunately, many managers often overlook improvements in the Finance and Insurance Departments, but they shouldn't. F&I business specialists present new consumer products and ideas for department efficiency yearly at Conferences and Expos that can help keep you up to date with the latest improvements in the field. By being an industry leader in products and information, you will win the trust of consumers and establish a reliable reputation.
Expand Your Network
Networking is a tried and true business-builder across all industries, and there's a reason why. Networking allows both individuals and companies to expand their reach in the industry and learn from others who are knowledgeable in the field. Even more importantly, it increases the number of people who know you and your brand. This puts your dealership in an advantageous position when it comes to learning about new products, hiring future employees, and creating future business opportunities. Attending F&I Conferences and Expos also give you and your team the opportunity to bounce ideas off like-minded leaders and share and receive helpful advice.
Raise Brand Awareness
As mentioned in the previous point, brand awareness is a key part of doing business in the auto industry. Strong brand identity will push your company to the forefront as a source of trustworthy information and best practices. When suppliers meet you at conferences, they know that you're invested in doing what's best for your company and will be eager to share their knowledge and information with you straight from the source. Raising your brand's profile will also help attract qualified professionals who want to work for a dealership that cares about doing things right. As word gets out in the industry that your dealership takes things seriously, the positive brand recognition will trickle down to consumers who will see your knowledge and recognition as something that stands ahead of the competition.
Learn and Improve
Whoever said "you're never too old to learn" knew what they were talking about. But this applies to more than just individuals. Although finance and insurance have been around longer than cars, industry leaders are constantly coming up with advancements and better ways of doing things. Keep your dealership up to date with the latest technology and products by attending yearly F&I Conferences so you can stay ahead of competitors and improve the workflow and environment within your team and dealership.
Attending yearly F&I Conferences and Expos will improve your dealership by keeping you ahead of your competition, expanding your network, raising brand awareness in a positive way, and teaching you best practices. With all the benefits there are to gain, missing out on the conferences is missing out on a way to improve your dealership. Contact us today for information on the next F&I Conference and Expo so we can see you there.