Boost Your F&I Sales through Your Auto Dealership’s Rewards Program
Finance and Insurance (F&I) is a crucial department in an organization. The department should be effective, especially in sales and service delivery. The impact of a strong F&I department to your auto dealership can bring repeat sales. Not many auto dealerships are aware of this, and the best thing to do, is to start now. Before executing an F&I program, see how to incorporate it into your employees’ mindset across all departments, and into your auto rewards program.
Why Start an Auto Rewards Program?
In 2019, we may be looking at soft sales in the auto dealership industry. To counteract this situation, your dealership needs to look at your sales process across all departments and integrate each to drive sales.
Another important item your dealership needs to look at is what can differentiate your dealership from the competition in your area. This is when having a custom branded auto rewards loyalty program will make your auto dealership stand out. But, it’s not just the custom branded program that helps your dealership stand out, it’s also AutoAwards’ process of integrating all departments, including F&I, and our Keep It Local program that engages and benefits your local community.
Involving Your Teams Across Departments
When you create a custom branded loyalty program with AutoAwards, we train your team to always involve customers in your loyalty program. It’s proven that the rewards program will help you close deals, lock in vehicle maintenance and service with your customers, drive new sales, and generate F&I profits.
You not only have your sales team involved in training, but your team in all departments. Since the rewards program works across departments, you begin to develop a mindset and culture of rewards that drive sales. Your entire dealership team works to build the enthusiasm and engagement in your customer base no matter what department they visit.
F&I for the Sales Team
With your sales team, they may talk about a different F&I plan than your service department. For example, the sales team can speak to how GAP protection can cover the difference between what they owe and the actual cash value, if they are involved in an accident. The benefits of F&I should be available to all departments, as well as the rewards program, to tie in points for each purchase the customer makes.
F&I Products for the Service Team
Training service personnel on F&I products and the rewards program is also beneficial to your auto dealership. Involve your service team in understanding how F&I products and the rewards program serves customers, retains them and increases profits.
A smart service consultant should easily explain the importance of a vehicle maintenance plan to the customer. With AutoAwards’ prepaid vehicle maintenance programs, we tie in the rewards program and work with you to customize the program. With both the plan that benefits the customer, and the rewards program, it’s a great opportunity for your service personnel to retain customers.
Learn more about how AutoAwards helps your business drive sales by calling us at 302-696-6000.
Since our founding in 1991, AutoAwards has been widely recognized as the industry-leader in automotive and marine loyalty marketing, earning longstanding relationships with many of the industry’s most successful dealer groups and OEMs. AutoAwards understands the #1 predictive factor for dealer growth and profitability. Customer loyalty is the most successful way to build revenue. AutoAwards has always recognized the need for top notch, highly creative, effective loyalty strategies in large and small businesses alike. Contact us online to talk about dealer loyalty or call 302-696-6000.