March 2009 - Feature
13 Ways to ‘AccSELLerate’ Your Sales Process
How to get there faster, have more fun and give customers a better experience.
By Mark Rodgers
7. Have an Economy of Words
Record your presentation, your conversions and your
objection responses on a digital voice recorder, and then listen to them
carefully. Can you say more with less? Most of us can.
8. Use the Deal Worksheet to Avoid Mistakes
Don’t run all your
contracts through that Oki Data 321 Turbo Dot Matrix printer only to find out
you got something wrong. Use your deal worksheet to make sure you’ve got the
customer’s surnames and address information correct. Ask the customer if the
information is correct and if this is exactly how he or she would like to have
the motorcycle titled and tagged. Figure all that out before you run
the paper.
9. Pre-Load Your Credit Applications
Pre-load the basic customer information into either your
online or hard copy credit application. The customer’s name, address, co-buyer
information and asset information can be entered onto the application while the
customer is talking with others. Customers would rather have a frontal lobotomy
than watch you hunt and peck their information into the computer.
10. Handle Cycle Insurance Earlier
Many dealers wait too long in the process to arrange for
their customer’s cycle insurance. One F&I professional described this as
having a great meal and then waiting 45 minutes to get the check. Most of us
would be better served if we handled the cycle insurance earlier in the
process.
11. Go Big First
Many dealers are menu
selling, and it’s a great method — good for the customer, the dealership, and
the business manager. Unfortunately, many business managers do two things which
dramatically slow down the process and its effectiveness.
• Start with the smallest package first: This
often requires repeated explanations of products, which can create information
overload for the customer. Start with your largest package first, then use a
trial close. You can always retreat with an offer for the next smallest package
if the customer says no. This approach also leverages a psychological principal
called concessional reciprocity, and reduces redundancies.
• Try to close
every single product: Now the customer must make several decisions instead
of just one.
12. Office Cam Up
Just as making a motorcycle go faster often requires
swapping out some parts in the engine, your business office might require some
retooling to speed up the F&I process. Consider replacing myriad equipment
with a four-in-one printer/fax/copier/scanner. Why? Because once the customer
is in your office, neither of you should have to leave until the deal is done.
Other items to consider include a credit card machine, a small refrigerator
with bottled water, and coloring books and crayons for the kids.
13. Use the Right Tools
I once knew a
business manager who used the “99.9-percent-perfect” close to answer service
contract objections. It’s a common technique involving a pen-and-paper review
of costs. It works, but if you’re really trying to speed up your F&I exchanges,
consider having multiple levels of responses to objections. Level one could be
a quick verbal reply. The second level might be a paper-and-pen example. Level
three might be a review of your evidence binder. The fourth level might be
actually speaking to a satisfied customer. As you can see, each level requires
more time and is more persuasive. So use as appropriate and you’ll speed along
more conversations.
Now more than ever, we need to stand back and take a look at
the role of F&I in the powersports business. If you do, chances are you
will find many opportunities to AccSELLerate the speed with which you work
through F&I transactions. Your customers will be glad you did.
Mark Rodgers is an
award-winning author, trainer and founder of Peak Dealership Performance. He
can be reached at mark.rodgers@bobit.com.