Back to Basics: The Imperative of Training in Automotive Dealership Sales
In an ever-evolving landscape, automotive dealership sales and F&I sales teams must continuously adapt quickly to thrive. However, one enduring truth remains: our success is rooted in mastering the basics. The retail automotive industry has experienced considerable changes in recent years, bringing a host of new people into the industry and dealerships. While fresh talent is an asset, the rapid growth and the consistent changes have meant many newer employees lack fundamental sales training and experience. It's time to shift the focus back to basics, reinvigorating the sales force with targeted training.
Understanding the Need
Automotive sales aren’t what they were five years ago, and they aren’t what they were a year ago. Today's sales professionals compete against multiple dealerships and against a clientele armed with internet-acquired knowledge and savviness about pricing, features, and F&I options. Salespersons must sell value versus price, requiring a level of expertise that can only be gained through comprehensive training. It's about sharpening skills in walkarounds, test drives, and negotiations, reinforcing that art of salesmanship.
Earning business is once again a focal point. It's essential for salespersons to comprehend the ebb and flow of the industry and respond accordingly. Many new to the industry employees may not yet realize how hard working in a dealership can be. It's a world that rewards knowledge, persistence, and resilience.
Comprehensive Training Across Key Areas
There are several key areas that dealership sales teams should focus their training efforts on. Firstly, finance: a fundamental understanding of the finance domain is invaluable. Training should cover aspects such as conducting effective interviews, performing valuations, and building value products.
Customer service is another crucial component of the training matrix. This involves learning how to slow it down, truly engage with customers, and understand their needs. As part of this, employees should be equipped to handle follow-up surveys (CSI) and use them as a tool for improvement.
Product knowledge is essential, and that includes keeping abreast with the latest in banks, compliance, and technological nuances that can enhance customer service. Today's customers demand an efficient, easy, and straightforward process, and dealership teams must be prepared to deliver.
Identifying Areas for Improvement
It's time for dealers to sharpen their skills, enrich their processes, and regain striking power. Sales earnings have been buffered by promotions in the recent past, but as market conditions change, those who are not prepared could experience culture shock. In an environment where front-end grosses are getting tighter, finance teams must learn to sell more with less. Full disclosure should become standard practice.
Reinventing Training Methods
Training is a continuous process that should take place at all times. This means bringing trainers into stores, attending local training classes, engaging with social groups, and utilizing resources like podcasts, books, and videos. It's beneficial to partner with a reputable firm that offers various levels of customized training to ensure that everyone on the team receives the continuous support they need.
It’s time to return to basics and refocus on training. Like professional boxers, it’s time to bring it in and get into our best fighting weight. Customers have the liberty to choose where they buy a car, and it's up to us to make sure they choose us. The time is perfect for a renaissance in automotive dealership training, where the elements of salesmanship are valued as much as innovative strategies and approaches.
If you would like to learn more insights about training strategies at your dealership, you can reach Kristin Jones at kristin@wfisinc.com or via Linkedin.