Moving From Good To Great
Business cycles aside, our industry succeeds when we focus on follow-up to take the sales process from good to great. Sales, F&I and service are all key players.
Make a difference
It all starts with sales managers who make it a habit to personally telephone all customers to (1) thank them for coming to the dealership to either buy or look at a vehicle, (2) ask their impression of the dealership’s sales process, and (3) end the conversation with the big question: “If there was one thing we could have done differently in order to make it possible for you to purchase this vehicle from us, what would that have been?” If the request makes sense and you can do it, set an appointment for the customer to return and make the deal.
Take a second look
Follow-up is not just a sales department theme. It also needs to be fully employed in the F&I function. Just because someone did not purchase a service agreement at the time of delivery does not mean we can never ask that customer to take a second look.
In accordance with the national “Do Not Call List,” we have 18 months to contact our customers to request they reconsider a service agreement. Perhaps their vehicle has just been in the shop for servicing, or maybe they have observed another customer in the shop with a repair bill.
Notice the signs
Service personnel are key in helping F&I and sales personnel to establish and maintain value in the F&I products throughout the dealership. Do you have a sign in the service drive that clearly identifies that you accept service agreements for covered repairs and prompts customers to advise the service writer of their policy?
At the point of closing out a service ticket, does the cashier place a notice on the customer copy of the repair order saying, “Alert! Your factory warranty is about to expire! Do you have a service agreement?”
Don’t be afraid to follow
F&I personnel should send a follow-up letter to customers who did not purchase a service agreement at the point of delivery and who have a new vehicle that is probably still within factory warranty. Follow up the follow-up letters with follow-up calls. Overkill? Hardly. Your customers may still have concerns about this coverage and a personal telephone call may just be the ticket to convert their concerns to commitment.
Customize and critique your follow-up process. Monitor your performance, track your results, and make adjustments to maximize your effort. Everyone wants to be remembered and made to feel special. When you tailor your follow-up to each individual customer, your ROI will move from good to great!
World of Special Finance Magazine , January ’05, p. 34