The Road to ROI with F&I

A Process with Clear Communication is Key Between F&I and Sales

Posted by Vanguard Dealer Services on Jul 20, 2020 9:30:00 AM

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While the ignition is the key to starting a vehicle, the sales desk is the key to approaching and earning a customer's trust. It's that trust that helps customers feel confident to commit to purchasing a vehicle. Beyond the commitment to purchase a vehicle, a customer's journey within your dealership is only just beginning.

A Key Factor in Customer Satisfaction: Easy Transition from Sales to F&I

Next, the customer must feel confident with a dealership's F&I department. How can the sales staff successfully transition each customer over to F&I staff? Clear communication between the Sales Department and the F&I Department is the key when moving a customer beyond the sales floor.

Maybe you already have a process in place, but the numbers are not resulting in budgeted goals. Maybe, there is no consistent process at all. Bad communication, or no communication at all, can have a negative impact on your internal team moral, dealership profits, and even your brand. Here are a few suggestions that can help you ensure that both departments are on the same page.

  1. Develop a Teamwork Process 

Before we go any further, here is an interesting success story, found on AutoSuccess

  • What information should the salesperson gather about the customer to offer the options that are affordable? 
  • How and when should the F&I team get involved? What's the information they need to quickly move the customer through the process?
  1. Learn from Customer Feedback

Showing customers that you care about their buying experience is important to you is an excellent way to end a buying process. Offer a questionnaire and let them know their input is vital to making improvements. Customer feedback is vital to a dealership's success, as explained on izmocars.

  • Offer customers different ways or channels to leave comments and feedback. 
  • Make it a priority to respond to every customer response, whether bad or good. 
  1. Build Internal Moral and Keep Interactions Upbeat

Everyone is on the same team, and everyone's goal is to make a sale and improve profits. CBT Automotive Networks details out eight steps to building a well-oiled dealership team. 

  • Establish regular meetings to openly discuss problems and to acknowledge successes. 
    • Where are the dealership's numbers compared to last month, last quarter, and last year? 
      • If worse, open up discussion for team solutions.
      • If better, celebrate together!

At Vanguard Dealer Services, we're a hands-on operation, and we teach by showing. We're here to help your dealership establish the process that will help your sales and F&I staff focus on the best car solution(s) for every customer.

Topics: F&I, F&I Managers, F&I Specialist, Sales Motivation, Dealership Sales

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