F&I Menu Systems Help Avoid “Snooze and You Lose”
Eliminate the "L" from the R.I.D.I.L. of customer dissatisfaction
We should all set our clocks to Vince Lombardi time. The famous Green Bay Packers coach was known for operating 15 minutes early. During his tenure, being 15 minutes early was affectionately called Lombardi Time around Green Bay.
The point is: Don’t be late. Be on time for appointments, callbacks, work hours, and planned meetings and interactions with coworkers or management. If you want consumers and colleagues to perceive you as professional—and concerned about their time—punctuality will be your calling card. Better yet, be early: perhaps not Lombardi early, but a few minutes ahead of schedule.
This lesson in the importance of punctuality concludes this series on R.I.D.I.L., an acronym for behaviors that kill consumer satisfaction, with the letter “L” for Lateness. The series has been based on reports in Entrepreneur magazine that touched on behaviors costing businesses money, customer satisfaction, and retention. (Visit www.dealermarketing.com and type “Maxim” in the search field to read the prior installments about Rudeness, Incompetence, Deception, and Inflexibility.)
Lateness is a customer satisfaction wet blanket. About 65% of consumers report that having to wait, such as being kept on hold, is the reason they are dissatisfied with a business. Lateness, which can be viewed as a mask for laziness, may include tardiness for meetings with customers. When you observe such instances, take offenders aside and remind them, with enthusiasm, about their number-one priority: the customers.
Fortunately, modern F&I technology can help dealerships deliver a better, more compliant, and more thorough presentation in less time—but it’s up to staff to be punctual and not keep customers waiting. Research by MaximTrak Technologies reveals that using e-menus and other automated F&I presentation and execution tools can shave 10 or more minutes off a typical F&I presentation. Those minutes may not seem like a lot, but to consumers it’s a big deal.
Software-based F&I menu systems help F&I managers execute repeatable business practices on every transaction. By eliminating manual steps and standardizing the product presentation, this menu system streamlines process flow, speeds up the deal, and makes more money for the dealership.
Such menu systems also:
- Help dealerships make professional F&I presentations, even by less skilled managers.
- Build transparency and compliance into deals and help the dealership comply with regulatory actions governing how aftermarket products and services can be sold through the F&I office.
- Standardize the F&I product presentation. This means consistent presentations that reduce miscommunication and prevent damage to CSI.
- Improve F&I monitoring and measurement, providing managers with real-time information to increase F&I office performance by employees and the product or products they sell.
Dealerships are boosting service contract penetration 33% and more and per-vehicle retail by as much as 27% when using cloud-based F&I menu software to achieve time-saving, repeatable business practices on every transaction.
That’s the kind of savings that not only helps eliminate lateness in the R.I.D.I.L. of customer dissatisfaction in your F&I department, but might just help get your dealership running on Lombardi Time.