Gotta F&I Before You Buy
As the guide of your customer’s journey, it should be your goal to help them optimize their experience, Today’s customer is better informed and prepared than ever before, but they are often still in need of straightforward information to help them make informed decisions about how they can best execute the transaction, while getting the most for every dollar spent.
Obviously this readily applies to F&I products, because, unless the customer is paying with cash, they have to F&I before they buy. Furthermore, if value added services like maintenance plans are bundled in to the transaction, then their customer is more likely to have a successful experience throughout the lifetime of the vehicle.
Despite this obvious fact, there is a tendency in the industry to shy away from emphasizing F&I early on in the customer’s journey.
To maximize the ROI of your marketing spend, F&I should be emphasized throughout the sales funnel and especially in the transition of the customer from an online lead to an in showroom appointment.
BDC United values the effect that promoting F&I early and often contributes to the sales process, and champions the methodology’s effectiveness both in making the sale and in increasing customer retention and loyalty for service et al.
“According to internal APCO data 70 percent of customers who purchase a service contract will return to the selling dealership for service. That number jumps to 80 percent when a customer has tire and wheel protection and 92 percent for covered oil changes. What should get sales really excited is that customers who service their vehicles at a dealership are 86 times more likely to buy their cars from that dealership.”
Rob Volataire is Senior Vice President, Managing Director, EasyCare at APCO Holdings
Pump up the Power of your dealerships to capture, retain, and maximize the lifetime value of every lead your hard earned marketing dollars attract. Scan the QR code below to learn more about BDC United’s industry leading solutions
https://digitaldealer.com/sales-variable-ops/how-to-create-a-path-for-fi-before-the-vehicle-sale/