Kirk Manzo - In the F&I office, increasing efficiency and product sales revolves around increasing product penetration (particularly service contracts), shortening the time your contracts are in transit, introducing the F&I manager to customers early on in the sales process, and maintaining compliance.
Kirk Manzo - In Chet Holmes’ bestselling book, “The Ultimate Sales Machine,” he identifies that the reason many organizations struggle is because “management attempts to implement 4,000 different ideas. When all they really need to dominate any market is to identify their core strategies (usually about 12) and repeat them 4,000 times until everyone in the organization has mastered them!”
Kirk Manzo - There are many strategies that have developed over the past several years to positively influence customer retention. Customer loyalty programs with a points reward system and special discount pricing on select dealership services provide some level of success.
Kirk Manzo - The practices of reviewing deal jackets on a regular basis (once a month at minimum, once a week is preferred), analyzing production reports, and conducting daily managers’ save-a-deal meetings continue to be the gold standards for our industry.
Kirk Manzo - The root of the word “motivation” comes from the Latin word “motivus” meaning to move or take action. So what moves your people to take action?
Kirk Manzo - As we approach year’s end, now is a good time to examine your processes and procedures in all areas of the dealership including sales and F&I. The interaction between these two areas of the dealership is the life blood for future growth.
Kirk Manzo - Ask every manager at your store to write down the complete sales and F&I process. How many different versions might you receive? How well-defined is your sales and F&I process?
Kirk Manzo - Mastering the skills needed to perform at the highest level of anything requires time and effort. When was the last time you actually worked on your business rather than just in it?
Kirk Manzo - For generations, people have passed down the details of history not in written form, but rather with the spoken word. Stories of how the conquerors were vanquished and the village was saved abound. This simple method of communication has allowed others to learn from the past.
Kirk Manzo - The customer will have a well-prepared story about why they should not buy. This begs the question, are you going to buy their story (objections), or will they buy your story of why they must have this coverage? ...