What are you offering?
A study by Finaccord, a financial market research group, concludes that during times when car sales flatten out, additional goods and services can determine the profitability of a dealership. Some of these additional goods and services include:
- Extended warranties
- Automobile Service Contracts
- Gap Insurance Coverage
- Creditor Insurance
- Roadside Assistance
The study concludes that warranties, insurance and service contracts are particularly valuable because these renewable multiyear policies bring profits into the current year with no sales efforts on the part of the dealership. Added value is the key to quality customer retention programs.
EFG Companies has 34 years of experience in understanding and predicting consumer behavior. Calling upon its full portfolio of additional products and services, they will help you create a winning situation for your automotive customer retention programs.
Understanding value – Often when one hears the word “value” they instantly want to attach a price. Supposedly, creating value enables you to command a higher price, but the truth is value really has nothing to do with price. The creation of value is not about increasing your company’s bottom line; it means creating value for your customer. While some products are just so good that their value is apparent to the customers, other products have to strive to create a unique individuality that will allow their value to stand out to the customer. They may create value with service delivery, better business interactions, better terms and conditions or outstanding customer service.
This is the case in automobile marketing. While some customers are so brand loyal that your product has instant value, others are looking to see what you have to offer in addition to the vehicle or other products that you are marketing. If the customer understands and appreciates the value you create, then you can demand a higher price for your products that translates into obtaining value in terms of sales for your company. EFG Companies can help you understand how your personal business philosophy has a direct impact on the creation of your products value.
Are you a serious closer or are you a “of service” closer?
Signs of a serious closer
• Only thing that matters is how many deals you close and how big your paycheck is at the end of the pay period.
• Deadline and sales quota driven
• Constantly moving on to the next customer
Signs of a “of service” closer
• More concerned with providing customer service than the close
• Takes time to listen and understand the customer’s needs
• Remains positive and creates product value for customers
• Willing to allow the close to walk away if it is not in the customer’s best interest
EFG Companies, with their added products and services, can help you to further understand and assess what type of closer you are, as well as understand how your personal business philosophy translates into marketing a business philosophy. That philosophy adds value, which will make your automobile marketing a success.