Labor Day is more than a holiday. It is a car-selling extravaganza where customers stream in, incentives pile up, and dealerships move models out, often in massive quantities. It is indeed a great time to buy a car, and for at least three powerful reasons:
- Labor Day is the last three-day holiday weekend of the year.
- It’s a new sales month.
- Model year-end sales are in full swing.
This is especially true this year, thanks to a 3.5 percent dip in August sales. According to KBB.com’s Matt DeLorenzo, it’s likely that “heavier incentives will continue not only over the holiday weekend but through the closeout of the 2016 model year.”
This Labor Day? Mind Your Menu Selling
Thanks to all that consumer traffic coming into the showroom to buy cars, it’s a very good time to focus on your F&I product sales in terms of presentation, engagement and compliance. Keep these three tips in mind when you talk to your buyers about aftermarket products:
1. Create a customized and personal presentation experience
Make the experience as personal and custom as possible. For example, preload the menu tablet with the customer’s model – right down to the color. Then hand over the tablet and let the customer complete a survey as they wait to speak with the F&I manager. That will help you build a presentation designed to meet their needs and interests.
2. Encourage engagement throughout the presentation
One of the clear benefits of using a tablet is that it provides high levels of engagement and fosters a sense of control. By handing over the device, or going through it together, you allow the customer to dictate their level of interest in the products – from deep interest to skipping over a product offering altogether. It gives them a sense of control, and gives you valuable information for possible upsell opportunities.
3 Be consistent and diligent
Reduce your risk of non-compliance by presenting 100 percent of your products and creating a consistent presentation, with uniform scripting and up-to-date FAQs. Make sure you gather customer signatures that note their acceptance or rejection of each product, and store them in an electronic deal jacket. That will help to verify compliance by providing an audit trail of all deal activity. And don’t forget, every customer should sign a final menu that clearly shows which products were offered, which were accepted and which were declined.