Your main focus and commitment should still centre around offering thoughtful and transparent customer service.
As the automotive retail sector continues to navigate its way through COVID-19, many aspects of how we do business have changed as part of our collective new normal — not the least of which is the dealership’s approach to Finance and Insurance (F&I).
Personally and professionally, the past year has been one of adapting to the evolving nature of the pandemic — but continuing to connect in the most authentic way possible has been critical, both for our own peace of mind and because it’s a critical aspect of how we engage consumers.
In some respects, our reliance on Zoom or other virtual video conferencing platforms means that we are communicating in a more personal manner than ever before because, after all, interactions bring you into someone’s private home space.
In the automotive retail sector, the past year has been one in which sales plummeted at the outset of COVID-19, but in the ensuing months, sales trended in a positive direction and today, consumers are largely back — buying or leasing vehicles at a healthy rate, which in turn has created a steady surge of demand for new inventory.
However, where sales have traditionally occurred almost entirely on the showroom floor — that process has undergone a dramatic change, with more reliance than ever before on new technologies such as Zoom. As a result, the essence of building, nurturing, and maintaining a consumer connection remains a cornerstone.
The fundamentals of a customer relationship start with a review of your F&I performance and a list of prospects. Be strategic and prioritize follow-ups based on those clients who have shown interest, but have not yet made a purchase.
Give clients an opportunity to rate your auto finance online to help raise public awareness of your quality service. Feedback also helps improve performance.
Ensure you have the proper tools and insights that are required to play the critical role of connecting online car shoppers into appointments. Insights, like household and vehicle ownership information, make for a more informed sales team — a more clearly defined pitch, and as a result, a better prospect of converting the engagement into a sale.
When marketing to prospective clients, remember that one size does not fit all — and nor should your approach. Identify and profile your target market, and tailor your messages appropriately. After all, different models of vehicles are going to have different target consumers. Car enthusiasts may look for aesthetic and performance information as opposed to new families who may prioritize fuel efficiency and economical prices.
Ensure your social media business page and website create the kind of interactive presence that you might be seeking. Today’s consumers are well-informed, so be sure to post information that goes beyond the basics and includes tips or practical information about financing options or innovations. Give clients an opportunity to rate your auto finance online to help raise public awareness of your quality service. Feedback also helps improve performance.
And finally, and perhaps most importantly, never underestimate the importance of the personal touch, regardless of the circumstance. When engaging a client, don’t wing it. Put your best foot forward to address questions or concerns. Explore the latest finance rates, deals, service loyalty programs and insurance options that best meet their needs.
Should issues or conflicts arise with a current or potential customer, don’t hide behind email or text. Connect on a personal level and put your skills and knowledge to work. And stay sharp. Don’t allow your approach or that of your sales team to grow stale or apathetic, because you can never recreate a first impression.
F&I can be complex, but it doesn’t need to be complicated — as long as the sole focus and commitment continues to be thoughtful and transparent client service.
