Now that we’re deep into the second quarter of 2019, GWC Warranty recently offered a refresher in an effort to help dealerships gain more sales traction in the F&I office.
With vehicle affordability becoming more a challenge, GWC Warranty emphasized that selling more service contracts and higher quality F&I products all starts with how store personnel present them to customers.
“If you do it right and do it often, you stand to make big-time gains in the F&I office,” the company said in this post on its Accelerate Blog.
“It’s been proven time and again that running through your menu of service contract options in a strategic way is the best way to land more VSC sales. Stick to the plan, and you can look forward to a profitable uptick in F&I business,” GWC Warranty continued.
With that strategy in mind, GWC Warranty shared a trio of suggestions to make that plan come to fruition.
1. Consistency is key
GWC Warranty stressed that a menu sell is going to work if you do it every time with every customer.
“Anything less and it’s nothing more than a shot in the dark,” the company said. “You won’t land a VSC sales every time, but your chances only improve with each time you go through the full presentation — not to mention the practice you get along the way.
2. Start from the top
GWC Warranty insisted that executing a masterful menu sell starts at the highest level of coverage you offer.
“Working your way backwards through the menu highlights the components and coverages that drop off as you decrease the coverage level,” the company said. “This points customers in the direction of making a decision on what certain components and coverage perks are worth to them.
“And when a customer makes the decision on their own, they’re more likely to feel like they bought something rather than being sold something,” GWC Warranty added.
3. Ask the right questions
GWC Warranty noted that it’s important to tell a story to help customers understand why they need a VSC. The company recommended asking questions to understand what matters to a customer.
“Are they looking for a commuter car? Or maybe it’s a customer that prioritizes style and image. Whatever it is, digging in to understand what customers find important about their vehicles can shape your story,” GWC Warranty said.
“For the commuter you can sell practicality and protecting their job. For the image-conscious buyer, a VSC helps protect their investment and get the vehicle back on the road quickly,” the company went on to say.