Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.
In sales and especially in F&I, we have been taught over the years that if you control the process, you will get better results. It may be time to rethink that premise to some degree.
It has been said that control is an illusion, and in car sales I would tend to agree. Our processes in the past were designed to try and control customer behaviors to predict outcomes. And there are dealerships that continue to operate under some of those processes and have been successful in doing so.
However, I do not believe the strategy to control the process to control the customer is sustainable. Whether its sales or F&I, customers now want and expect a certain type of sales experience and demand a say in the process.
Customers don’t want a one-size-fits-all sales and F&I process. No, today customers want a process that is personalized to them. They want the ability to influence and shape the process to address their needs, their goals and their unique situations.
If you think about it, as an industry we have been losing and the customer gaining control over the car-buying process for years. Customers have more information today than ever before.
They know your product and what other customers think of it. They have competitive pricing and know product availability before they ever talk to a salesperson or business development center representative at the dealership.
A Different Approach
I am not advocating giving up complete control of the process to the customer. On the contrary, what I am suggesting is that we approach the customer in a different way when it comes to controlling the sales and F&I processes.
Gaining the customer’s trust should be the No. 1 priority for all those involved in the deal. Giving up some control to the customer can go a long way to gaining trust.
Start by inviting the customer into the process instead of subjecting them to it. Be transparent, explain what you want to do next, why you want to do it, and how it benefits them.
The problem is that many sales managers and F&I managers do not have the patience to consistently try this approach. They want to get a yes as fast as possible and be on to the next customer.
Time-Saving
Saving as much time in the sales process as possible is something customers and automotive sales professionals both want, but this is a great example of when slowing down to speed up is a good strategy.
If you do this, you may find it builds value in the process and your product. It may also help you earn the customer’s trust. If indeed trust is earned, transparency in your process is the first step in earning it.
Giving the customer more control can be as easy as giving him or her choices. When appropriate, let them choose.
Giving the customer choices and options creates a more consultative and collaborative experience. Research tells us that customers want someone they can trust to guide them through the car-buying process and not control it.
Listening Skills
Another way to give the customer control is by actively listening to what the customer is telling you about preferences and verifying understanding by seeking feedback.
This can help the customer feel more in control, less pressured and more open to what you have to say and might recommend. Instead of focusing on closing, focus on facilitating the decision-making process with your customers by providing all the information they need to decide.
Give them multiple choices, options and solutions. By controlling which options and choices are presented to the customer, you are controlling the process, and by asking them what they think is best for them, they control the decision.
Giving up some control to the customer can have a very positive impact on the customer’s experience. When involved, the customer feels better about the purchase, and that positivity will be reflected in your customer satisfaction surveys.
Choosing to give up some control of the vehicle-buying process is a smart decision. If you do, you may find that giving up a little control may lead to happier customers, higher gross profit, and more repeat customers.
John Tabar serves as executive director of training for Brown & Brown.
LEARN MORE: Expect Yes in the F&I Office