F&I and Showroom, Industry Summit 2014
see no value in them The key to building value in your products is to ask questions that lead to enthusiastic and positive answers To do that you have to use the customers own words instead of a generic word track when talking about the products So make it personal but be sure not to infuse your opinion because nobody is going to purchase anything based on what you think is important to them The real key is identifying what the customer perceives as value Without the knowledge you enter a maze of setup trial closing and objection handling all of which diminish the chance of a sale So when discussing a customers likes and dislikes it makes sense to let them tell you which is which It is a much more fl uid conversation when the customer boasts about certain features of their vehicle and you share how to protect those very features Industry Summit 2014 F I and Showroom 49 negative examples to your customer does not enhance the probability of closing the sale but explaining each products features and benefi ts absolutely will Its a logical approach and it works As a fi nance manager your fi rst goal should be to determine how each customer selected their vehicle The answer can start a conversation that allows value to be built into the product offering With few exceptions every customer is excited about their purchase new or used and should be able to list at least three reasons for their selection Use those reasons to build value in specifi c coverage areas that make sense to them Better yet you will build credibility by starting a real conversation and establishing a rapport Building Value The No 1 reason customers reject protection products is they simply Service Contracts GAP Dealer Participation Training 250 NE Mulberry Lees Summit MO 64086 816 347 0900 800 325 7484 with your products The trial close will begin to make sense as each customer offers more affi rmation on the value of the product That affi rmation signals a true understanding of the product and how it protects their investment The old expression that people buy from people they like is true to some degree More important is that we all buy when we see value in the product and how we can benefi t from it The customers perception of what is important is all that matters Create value with your customers by listening to them and weighing their wants and needs against the real benefi ts each product offers John Vecchioni serves as the national sales director for United Car Care Inc a company he joined in 2005 as director of F I development and national trainer Email him at john vecchioni@ bobit com
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