Kelly’s Korner: Step Selling
Currently I am step selling F&I products. Although my production is respectable, I am not satisfied with the rate of sales growth. What changes do you think I need to implement?
A.Think process, rather than step, selling. The most critical time is when the customer is waiting to get into the F&I office. The sales representative for the most part is out of words, and the customer thinks all the decisions are made. Minutes easily become hours in the mind of the waiting customer, and as the clock ticks so does the level of anxiety. By the time the customer does get into the F&I office the ten minute deal the sales person promised has turned into hours and the customer’s patience has run out. If this is the case at your dealership, ask yourself, how much quality selling time does the F&I manager have? The answer is not much. With a few changes to the process, you can use time to your advantage to build rapport and present all the products.
Meet the customer at the sales representative’s work area. Review the sales figures. Begin to build rapport with the customer. Chances are you know someone they know, especially if you live in a small town. Identify yourself and the process that lies ahead — title work and lending issues. Invite the customer back into your office.
Step selling is all right if you are selling only one product. However, with the number of products in today’s marketplace, you need to be able to interview the customer on the fly and determine the customer’s needs before you present your products. Present the benefits of all the products before you quote a price and how it will affect the monthly payment. Your customers buy what your products can do for them. Your effectiveness will increase when you match your products to the customer’s needs.
Do you use a presentation book or try to juggle all the product brochures? Placing the brochures inside a presentation book allows you to stay on task and engage in 100% solicitation 100% of the time. Remember that the F&I presentation is equal to the sales demo ride.
Use the rules of negotiation and package your presentation. Ask for the business, and address any concerns the customer has. Collect current proof statements that apply to your policies. Some customers will want to review these statements before they make a purchase decision.
The process is as simple as A-B-C: Approve the sales figures, present the products by the Book, then give your customer a Choice of plans. Address the customer’s concerns and then watch both your CSI and profitability increase.
Oregon IADA, October 2003, p. 11