The podcast episode can be found here: Activating Your F&I and BDC to Improve Dealership Performance
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In this episode of the KPI Cafe, Laurie Foster of Foster Strategies Group challenges the status quo to dealerships' sales process. With compressed margins, increased competition from new players like Carvana, and the fluctuating circumstances of the economy, it's more important than ever that your process gives you more at-bats with every opportunity.
Part of that means activating your finance managers earlier in the process because you know that in-market car shoppers have questions regarding financing and leasing; part of that means thinking about your Business Development Center as more than a call center.
Laurie also gives insights about how to get buy-in from your team with these fundamental questions, as well as some tips about compensation for the new duties assigned. In the end, it's all about alignment.
3:22 Laurie’s Automotive Origin Story
4:45 Foster Strategies Group
6:37 Context for the Episode
7:03 Activating Your F&I
16:40 Good Customer Experience. Better Results
21:18 Getting Buy-In
24:00 Training for Comfortability
25:26 Managing Other Staff Concerns
27:53 What Does the Whole Process Look Like
29:40 Optimal BDC
31:41 Alignment on Shifts in Roles
33:51 Perception vs. Reality
35:43 Customer-Centric. Dealer-Centric.
37:17 Better Together
38:45 Breaking Down the Silos
44:06 The Hiring Process
46:01 What’s Coming Up with Laurie