Digital Dealer - July 2018 - 35

their choice. Asking questions like, "How many miles
per year do you drive?" and
"How long do you plan on
owning your new vehicle?"
is a complete waste of time
(at least, early on). There
are far better questions to
ask before presenting F&I
products to your customers.
Your customers buy wants
not needs!
WHAT ARE THE
IMPORTANT F&I
PRODUCTS?

Over the last 15 years,
I can't even tell you how
many F&I presentations that
I have observed where the
F&I manager plainly told
their customers something
along the lines of "You don't
really need these products
here, but I wouldn't pass up
on those ones." I understand that many of these
managers were hoping
that such language would
demonstrate impartiality,
foster some sort of trust
and credibility, and in-turn
cause their customers to
buy. Sometimes they did
buy all the recommended
products but most times
they did not. When all was
said and done, I believe
these managers missed
out on important opportunities to truly serve and sell.
Too often F&I managers
pigeonhole their products
to best fit certain customers
when in reality, whether it's
a vehicle service contract,
prepaid maintenance plan,
guarantee asset protection, credit insurance, or
appearance protection;
F&I products offer benefits
that provide an advantage
for all customers, not just

the first-time buyers, the
budget conscious, or credit-challenged. F&I products
don't just offer financial
peace-of-mind, security,
and simplified budgeting;
F&I products also offer a
uniquely superior customer
ownership experience for
all who purchase them. In
short, all F&I products are
important!

WHAT MAKES AN F&I
PRODUCT COMPELLING?

Compelling customers
to purchase is the primary
goal of every F&I product
presentation. Sadly, many
product sales are blown
in the F&I office because
the manager didn't actually
compel their customers to
buy anything. Some F&I

compelled to buy. There are
three things you must do if
you want to make your F&I
products more compelling:
1.) DEMONSTRATE
WHY THEY SHOULD BUY
THEM. Top F&I produc-

ers don't rely on the what,
instead, they center on the
why. Top producers know
that everything purchased
on this planet is bought to
satisfy one or more of the
six emotional motives to
buy. Are you discovering
and aligning your products
with them?

2.) SHOW THEM HOW
TO BUY. Top F&I producers

know that the decision to
buy takes effort, and their
customers do not want to
think through the process

THE KEY IS TO ASK
THE RIGHT PERSONAL
QUESTIONS SO THAT
YOU CAN MAKE YOUR
PRODUCTS GENUINELY
COMPELLING."
managers assume they
have added value because they fully explained
the features, facts, and
figures associated with
their product. On paper,
these features, facts, and
figures may stand-out, but
customers don't really care.
All that matters are how
each product impacts their
life... literally. It's all about
them! When it's decision
time, what is specific and
personal to your customer
is compelling, but the rest
is just a plain old pitch.
Remember, your customers
can absolutely like a product and still not be sold or

of buying too. Whether it's
increasing their budget,
redefining their budget, or
finding other ways to pay for
F&I products, your customers rely on you to lead the
way.
3.) HELP THEM SEE
THEIR PURCHASE. Top

F&I producers know their
customers don't buy products, they buy how they
envision the products will
make them feel. Therefore,
top producers ask strategic
personal questions, so they
can paint clear pictures
using their customers'
words and examples. Many
managers assume their
D I G I TA L D E A L E R . C O M

enthusiasm for a product will
transfer to their customer, but
it is the customers' mental
picture that reigns supreme.
If your customers cannot
clearly see a favorable
picture of themselves having
bought, they will not buy.
I have never met an F&I
manager who didn't want to
sell more F&I products. F&I
managers have always been
some of the most committed
and driven-for-growth team
members at the dealership.
Unfortunately, there is a lot
of bad information and advice given to F&I managers.
For years, many F&I trainers
have promoted the importance of helping customers
by selling them what they
think their customers need. I
completely disagree!
With the exception of rare
one-offs, all products are
important and valuable, and
you should look to sell every
applicable product on every
deal. The key is to ask the
right personal questions, so
you can make your products
genuinely compelling. What's
personal is compelling, and
the rest is just a plain old
pitch. It's not what you think
your customers' need that's
most important, it's aligning
your products with what your
customers really want! ■
LEARN MORE in Mike
Hirschfield's session, "The Missing Value in F&I!" at the Digital
Dealer 25 Conference & Expo.

MIKE HIRSCHFIELD,
CEO of Cornerstone Dealer
Development, is on a mission
to empower, equip, and exalt
sales and finance teams everywhere! Twitter:
@FoundationToWin. EMAIL:
Mike@FoundationToWin.com

J U LY 2 0 1 8

35
https://twitter.com/foundationtowin http://www.DIGITALDEALER.COM
Table of Contents for the Digital Edition of Digital Dealer - July 2018
