It's easy to focus on sales efforts with your floor teams. After all, they're your first line of revenue generation. But it's also important to keep your finger on the pulse of your F&I teams as well. Up-selling in the back office can be just as lucrative to your bottom line. Today, we'll highlight three tips to keeping your Business Managers just as motivated as your sales staff.
Topics: Business Managers
"Your brand is so much more than what you sell." - Jon Iwata
Brand awareness is a paramount factor for the success of any business in today's competitive market. While advertisement and marketing have been considered to be an integral part of business efforts for a long time, the use of social media to propagate one's brand is a relatively new concept. Studies show that 90% of brands worldwide use social media to promote awareness.
Dealerships are responsible for enforcing compliance with numerous State and Federal regulations. Violations of any of these regulations can be a real problem for your dealership, so it's important to have good practices in place when it comes to protecting yourself from liability. What actions can you take to ensure that your dealership is in compliance?
Topics: dealership compliance
In order for dealerships to be set up for success, it is important that the Sales Desk and F&I Department are clearly communicating. The two teams might work separately but maintaining a good partnership will be key to maximizing profit and supporting a better customer buying experience. Here are some ways to ensure there is clear communication between both teams.
Everyone in any industry that involves interaction with another human being can expect to, at some point, interact with an angry customer. This is no different at a dealership. Dealing with angry customers is a skill that employees and bosses should familiarize themselves with. Effectively handling angry customers will increase customer retention, reputation, and overall customer satisfaction. When dealing with an angry customer here's what you should do.
Topics: customer experience
For any dealership, we know the importance of the F&I department. As Wards Auto notes, F&I is "one of the most important profit centers in any dealership" with primary duties being to control the sale and arranging financing for the customer. If our Business Managers can seal those deals, dealerships will maximize on their profit. However, the pressure and responsibility can take a toll on these employees. Here are 3 ways to keep your Business Managers motivated.
Fresh Content Ideas for Your Dealership's Social Media Pages
When it comes to social media efforts for your automotive dealership, it's important to keep it fresh. Sticking to a few tried and true topics with good opportunities for revolving content is an excellent way to gain and retain the interest of both loyal and potential customers.
Staying up to date with the Finance and Insurance field is demanding. Look at it this way: F&I conferences are a yearly investment that reaps benefits in worker productivity and competence. These conferences also provide a venue for networking, promoting brand recognition through product placement, and learning about relevant new technologies.
Car dealerships are faced with disadvantages in today's fast-paced market. The belief that car purchasing can be a painfully long process is based on many old traditions at car dealerships that persist today. Faster sales can be accomplished by improving in three different areas. Each of these areas is based on building strong relationships and effective communication strategies:
Many benefits accrue from partnering with a focus forward Finance and Insurance (F&I) provider when you are in the auto dealership business. With better-managed sales and F&I departments, you can expect high F&I profits for all your vehicle sales. Your company also retains customers due to high CSI and enjoys a reduced employee turnover.