Digital Dealer - June 2018 - 48

FINANCE & INSURANCE

By Mo Zahabi
Director of Product
Consulting,
Dealertrack F&I
and VinSolutions

The Consultative Approach to Selling
While digital retailing
in automotive is on
the rise, dealership staff
still play an important role
in customers' car-buying
experiences. Six in 10
consumers would still
want help from dealership
staff even if they could
purchase online, according to the Cox Automotive
"Future of Digital Retail"
study.
What has changed is
the roles of the salesperson and F&I manager.
In the past, dealership
staff members were only
there to make money off
a customer. Oftentimes,
the customer knew more
about the vehicle than
the salesperson. Today's
dealership staff, on the
other hand, have responded to customer needs and
shifted to a much more
product-oriented approach. According to the
same study, today's car
buyers prefer staff who
are product specialists
- people who are highly
knowledgeable about
features and technology
who will also act as consultants and listen to their
needs in a low-pressure
environment.
This consultative
approach is particularly
important in F&I, where
consumers are critical of
the traditional pitch, according to the 2015 Digital
48

JUNE 2018

"F&I Experience" study.
To connect with your customers - and make the
sale - you have to take
a more personal, friendly
approach to F&I selling.

EMPOWER INDEPENDENT LEARNING

In the old approach to
selling, there was a oneway flow of product information: the salesperson
would tell the customer
information as they sat
in front of them. It was

and also give your customers opportunities to do
their own research once
they are in your store.
Mobile menu selling solutions enable independent
customer learning. These
technologies allow you
to load a tablet with key
F&I product and payment
info, giving customers
the opportunity to digitally
explore your F&I offerings
on their own - and better
understand the value of

...63% SAY THEY WOULD BE MORE
LIKELY TO PURCHASE F&I PRODUCTS
IF THEY HAD THE OPTION TO LEARN
ABOUT THEM BEFORE FINALIZING
THEIR VEHICLE PURCHASE.
a belly-to-belly, in-yourface approach. Today's,
consumers, however, are
hungry for resources that
allow them to do their
own research. 71% of car
shoppers would prefer to
do F&I research at home
prior to purchase, and
63% say they would be
more likely to purchase
F&I products if they had
the option to learn about
them before finalizing their
vehicle purchase, according to the Cox Automotive
"Maintenance & Repair"
study.
Consider offering F&I
product information on
your dealership website,

D I G I TA L D E A L E R . C O M

F&I products.

SIT SHOULDER TO
SHOULDER

Most people use the
phrase "shoulder-to-shoulder selling" figuratively,
and that imagery is
important when thinking
about your approach.
Customers need to know
you're not selling at them,
you're consulting with
them.
The literal sense of the
phrase is important too.
Literally sitting shoulder
to shoulder with your customer as you review F&I
product information can
change the entire mood of
the presentation. With-

out the physical barrier
of the desk, the "me vs.
you" mentality that can
leave customers feeling
intimidated in the F&I
office is removed. Consider implementing menu
selling technology that is
specifically developed for
tablets, which enables you
to sit shoulder-to-shoulder
with your customers -
figuratively and literally.
LEVERAGE YOUR
NETWORK

Today's customers
know there are many
options for everything they
can buy, and they want to
know that they're getting
the best option available.
Make sure you're familiar
with the network of aftermarket providers powering your dealership's
F&I selling solution and
don't be afraid to explain
to your customers where
your product offerings
are coming from. They'll
appreciate the transparency, and an increased
understanding of how the
process works certainly
won't hurt your chances of
making a sale.
MO ZAHABI is the Director
of Product Consulting
at Dealertrack F&I and
VinSolutions, where he
educates dealers on best
practices and ensures their
offerings exceed industry
expectations. EMAIL:
Mo.Zahabi@vinsolutions.com
http://www.DIGITALDEALER.COM
Table of Contents for the Digital Edition of Digital Dealer - June 2018
