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Jim Kristoff

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What is the “Level of Expectation”?? (Part 3 of 4) – F&I/Business Manager

 

What is the “Level of Expectation”?? (Part 3 of 4) – F&I/Business Manager

 
 
In (part 1) of this blog, we talked about the experience you receive when you go to a restaurant for lunch.
 
In (part 2) of this blog, we talked about the “Level of Expectation” process in your Sales Department.
 
Now….lets talk about setting the “Level of Expectation” in your Dealership’s F&I/Business Manager Process.
 
The “Level of Expectation” allows you to guide your customer through a series of steps that are clearly outlined for their understanding and review.
 
Your customer will know exactly WHAT will happen, WHAT ORDER it will happen in, HOW LONG it will take and the information they will RECEIVE to make an intelligent purchasing decision in a TIMELY fashion!!
 
Today’s customers demand a process that is both professional and transparent!
 
Today’s customers also want the process to go as quickly as possible!
 
F&I/Business Manager processes vary from dealership to dealership throughout the country.
 
Let’s outline an example of an F&I/Business Manager process and how to set the “Level of Expectation for your customer and employees!
 
EXAMPLE:
 
Upon completion with the selling of the vehicle with all of the appropriate purchase and sales agreements signed, your F&I/Business Manager comes out onto the showroom floor to execute a “pre-interview” with the customer.
 
The pre-interview allows the F&I/Business Manager to get acquainted with the customer.
 
However, the customer has very little idea of what will happen going forward. Let’s give the customer that information!
 
The F&I/Business Manager, during the pre-interview, begins to set the level of expectation of what will happen from this point forward.
 
 
·        Loading computer with customers personal data – 10 minutes
·        Dealership and customer reviewing Motor Vehicle/Title Paperwork – 5-10 minutes
·        Dealership and customer reviewing optional products – 5-15 minutes
·        Dealership and customer reviewing Finance/Lease documents and contracts -  15-25 minutes
 
The F&I/Business Manager can then relate to the customer what is going to transpire at how long it should take, (35-60 minutes to go through all the steps completely)
 
DON’T let your customer get frustrated and upset by “thinking” that the process is taking too long!
 
Remember, the customer has no idea of what the process is or how long it takes unless YOU tell them. And isn’t a calmer customer more easy to speak with than an upset and frustrated customer??
 
Will you have point of sale material around your showroom to aide your team in conveying your Dealerships F&I/Business Manager processes to the customer?
 
·        Banners
·        Table toppers
·        Posters
·        Video explanations on Salespersons computers
·        Video explanations on F&I/Business Mangers computers
·        Video explanations on your Dealership website
 
 
By providing a “Level of Expectation” in your F&I/Business Manager’s office it will do two things.
 
1.     It will give the customer a clear and professional expectation of what will transpire on their visit and how long it will take.
 
2.     Your F&I/Business Manager will clearly, professionally and consistently give the same exact presentation and process to all of the customers.
 
 
By setting the “Level of Expectation”, your Dealership will quickly become proficient, consistent and professional!
 
 
 
About the Author: With 30 years in the retail Automotive Industry, from a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.
 
You can follow me on:
 
My website: www.JimKristoff.com  
Twitter: @jimkristoff
WordPress blogsite: http://jimkristoff.wordpress.com/

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