F&I and Showroom, February 2014
Finance Insurance ISTOCKPHOTO COM DEKLOFENAK THE MILLENNIAL EFFECT As it turns out Millennials only want what their predecessors want a process thats quick and easy The Father of the F I menu weighs in By George Angus T he F I professionals my fi rm works with have been telling me quite often lately how successful theyve been with younger customers using our approach And yes the numbers back their claims Thats not to say Im some kind of Millennial whisperer Its taken a lot of research and development to get a bead on what moves these younger generations See since my fi rm undertook its fi rst process development project in the early 1990s an endeavor that lead to the introduction of the fi rst F I menu concept our research and process development program has worked with a revolving group of students pursuing a masters in 32 F I and Showroom February 2014 business administration These individuals serve as interns for my fi rm And just having their perspectives has had an infl uence on the approach and techniques we employ when developing our training programs and process An added benefi t of working closely with these interns is that they have given me insights into what makes them tick Thats not to say I understand them completely as this group remains a mystery to us mature generations As a matter of fact even 30 somethings can fi nd this new breed of 20 somethings somewhat puzzling They are a moving target at least culturally and every year we see a new group of buyers come of age that present a whole new set of challenges Too Pitchy These younger generations are frustrating and perplexing to F I professionals especially when they are attempting to upsell them Millennials are different and they are immediately put off by anything that smacks of a sales pitch especially from someone older But dont mistake their objection to being upsold as impatience or even fl ippancy about fi nancial matters See this younger generation isnt stupid not by a long shot In fact young people today are the most educated in American history They are knowledgeable and intellectual
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