There is really only one secret to success in F&I and that secret is very often right in front of you. Yes, you! The best and most successful F&I professionals all seem to cherish the same things; honesty, integrity, the ability to control their own earning potential and last but certainly not least, they cherish the customer. These financial service professionals are experts at putting the customer first. They fully understand the value of quality customer service. They believe that getting to know and understand the customer’s needs, wants and/or desires is absolutely essential and that you MUST do this before earning the right to present your product or service.
Their success can also be attributed to their ability to formulate questions that allow the customer to tell his or her story. They know that even the most time sensitive customer will share an extra moment or two to talk about their needs. These managers also understand the importance of listening to their customers, validating their feelings and addressing their concerns. They know that to successfully address a customer’s concern about a product you must first know your customer, and be genuinely empathetic to his concern in addition to being an expert on your product. It is not lost on these professionals however, that even the most polished product presentation will not garner a sale if the customer does not see the value or the need.
These F&I experts fully appreciate and respect the today’s time sensitive customer and are very adept at maximizing the time they do have with their customer. They see the value in the time spent in qualifying and doing a good needs assessment and how these steps can help to streamline and minimize the time required to present their product and ask for the sale.
The successful F& I professional is also a team player, a coach and a tremendous source of support for his or her Management team. They readily participate in sales meetings, often bringing an element of training to every meeting. Their love for their fellow teammates and the dealership they work for is only superseded by their love for their customers.
So the next time you sit behind your desk, ask your self this…how deep is your love?
Catherine Meery iA-SAL, Eastern Trainer Please visit us on our website www.iasal.ca