Auto Dealer Monthly Magazine is the daily operations publication serving the retail automotive industry. This automotive publication serves dealer principals, officers and general managers with the latest best practices.
Issue link: http://autodealermonthly.epubxp.com/i/79640
in the beginning viewpoints What Training Has Impacted Your Sales and / or Finance Process the Most? Mike Davis Finance Director BMW of Sudbury Sudbury, MA I think the training that has most positively impacted my sales results is objection handling. As a salesman—and yes, F&I; managers are salespeople—our job starts when the customer says no. Anyone can present an arsenal of prod- ucts or a menu, but a true salesperson will turn those no's into sales. We need to find out why the customer is saying no (the objection) and overcome it. Maybe the customer has had a bad experience with a similar product, or they may think they won't use it. Whatever the objection, we need to differentiate ourselves and our products from our customers' possible preconceived ideas and help them make the determination they will benefit from that product. Roger Laughary Desk Manager Suzuki of Wichita Wichita, KS Our process alone is substantially differ- ent than most dealerships around the country, which means we have to take bits and pieces of [training information] and decide what can be implemented in our store and aligned with our overall store processes and culture. We have a merged floor (sales and F&I;), which can substantially speed up the buying process. We also believe it to be more pro-customer. We handle both good and challenged credit, all on one floor. This does, however, make it very important to cross-train the entire sales floor to be able to speak intelligently with our customers. That being said, the biggest 8 impact that we as a dealership [make] on a day-in and day-out basis is [in our] mandatory morning sales meeting … where we go over daily training topics such as credit track, new programs available, how to set up a warranty and GAP up-front by choosing the right vehicle and selling it early and often, etc. We also role play on handling objections [and] word tracks (scripts), and [we] use a continuous, on-the-job training strategy to train our closing managers from the desk on every transaction, including F&I; product presentation. We implemented an early turnover process where every customer gets to meet a manager within 10 minutes to make sure the transaction is going in the right direction. Spency Walters Finance Director Antonino Auto Group Groton, CT For us at Antonino Auto Group, we have seen the largest impact through really just getting back to the basics of cus- tomer interviews and menu sales. We constantly train on doing an appropriate customer interview before the customer comes into the business office. If my business managers don't know the customer's driving and ownership habits, then we are driving blindly into menu sales and won't know what products or services to offer. Spending a few minutes with the customer at the salesperson's desk, or wherever the customer is comfortable, is key. Business managers have but a few minutes to gather all the information and create the rapport needed to present an appropriate menu to our customers and explain the busi- ness office process. This is why we have spent so much time focusing on the customer interview and menu process. If a customer walks into a hardware store looking for a hammer, the salesperson certainly won't show them a screwdriver. So why would we show a seven–year, 100,000-mile service contract to a customer who only plans on keeping their vehicle for three years and drives 50,000 miles per year? Tailoring a menu to the customer's needs, wants and desires is how we have become more successful, and that is what has impacted our finance process the most. Mike Mondato Special Finance Manager Sharpnack Chevrolet Buick Willard, OH Before I engaged in the car business, I worked for several telemarketing companies. I started when I was 16, sell- ing newspaper subscriptions for a local newspaper. When I first started, I was afraid to talk on the phone. Once I was done with training and hit the phones, I learned very quickly how to handle objections. I would listen in between my calls to the top dog handle his calls. After a couple of months, I felt like a pro; I had all the word tracks down. When I started in the car business, I implemented what I had learned from telemarketing and just revamped it. I feel that helped me jump- start my career in the car business. What Training Has Impacted Your Sales and / or Finance Process the Most and Why? Go to www.AutoDealerPeople.com and tell us what you think.