By: Myril Shaw - Dealer Profit Services
This has been an interesting year, to say the least.
For many of us it has meant health challenges for ourselves and those close to us including our fellow workers. It has certainly impacted our friends in the dealerships that we work with. If it has, and you are reading this now, giving thanks is appropriate.
For those of you who may have suffered personal loss in this challenging time, we offer our sympathy and our support and stand ready to help you in any way that we can.
If you are among the lucky who have not had health related challenges, give a BIG thanks!
No matter your personal circumstance, this is the time to give thanks simply for being able to read this (not that this is special) and to engage in your business in a positive way after what has been a wild year.
For the Recreational Industry this year has been strange, unexpected, largely delightful and fully unpredictable. With a normal start and then the expectation of doom through to results we never could have expected and now inventory shortages.
What a year!
So what have we learned?
Digital retaiing really can work…and so can remote F&I. We don't need to be face-to-face literally in order to sell our products and to sell our Protective Products. Remote does not mean remiss – it simply means a new reality.
Has our world changed forever?
Probably! Not in the sense that we will never be face-to-face again but certainly in the fact that we have learned to be much better digital and remote sellers.
We have learned how to present our products online and digitally in a compelling way. We have learned how to sell our Protective Products remotely (haven't we?)
Selling Protective Products remotely takes a particular nuance. It takes a skill that may not be natural to all the in-store Finance Managers. Certainly, these local Finance Managers have the product knowledge. Certainly, they have the sales skills when looking at the customer. It takes something different when that customer is over the phone or on Zoom.
Attaining maximum F&I profit is completely different in the days of COVID than it was in 2019 and before. It can be done…and fundamentally the rules have not changed.
Virtual or physical, there must be 100% Turnover to your Business Manager. In the virtual environment this is even more important ensuring that you are meeting all the compliance standards and requirements. The Business Manager is THE person who can help the customer understand the delight to be obtained through these Protective Products and the lifestyle protection that they ensure.
In the Recreational industry these Protective Products are truly about protecting and enabling the lifestyle. They are far too important to be missed. Face-to-face od remote, they are critical for the enjoyment of the buyers. They MUST be delivered.
If you have not seen a major increase in your F&I profit this year then you definitely need to explore what is wrong. It is important that you do this right now because 2021 will almost certainly face the same remote challenges without the pandemic bump in sales and the inventory challenges will remain an issue.
F&I profit will, or should be, a major contributor and help your bottom line in a significant way in 2021 – will it be?
It has been a year for which there has been much to give thanks and for which there has been much to grieve. Lessons learned…lets make 2021 an absolute year of awesome notwithstanding any of the circumstances.
Dealer Profit Services - Driving Profit Through Fun and Inspiration
Dealer Profit Services, LLC can help you achieve F&I excellence - no matter where you are in the development and/or maturity of your store or stores F&I success model. As the industry's best Finance Solutions Provider and the only one to take your customer to Fun and Inspiration with a Free and Idyllic lifestyle through F&I, thus driving industry-leading levels of F&I profit, Dealer Profit Services can and will equip you with what you need to take that next step in your F&I success - regardless of what that next step might be. Whether you want someone to help you take over take over your F&I and with our experienced personnel just help you drive profit to your store, provide help to you some of the time, need some quick advice, or just provide F&I Training/Consulting, we are here to help you. If you are not fully equipped with all of your Compliance Manuals and Training, Dealer Profit Services can do that too. Contact us anytime at info@dealerprofit.com or give us a call at (470) 326-0966.
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