Contributing Author: Ken Overly, Vice President, Operations, EFG Companies
If you follow industry trends, you probably expect the vehicle sales momentum of the past few years to continue through 2015. The first quarter started strong, with year-over-year sales up 13.7% in January, according to Autodata. The market will level out eventually, however, and smart dealers are utilizing the increased foot traffic to turn new customers into repeat customers.
While this starts within the dealership with service incentives, referral campaigns, etc., cultivating repeat business also extends into the F&I space and the customer experience with product administrators. Customers associate the selling dealership with the vehicle ownership experience . . . and F&I product administration. Service provided by the F&I product provider that reflects the dealership’s high service standards fortifies the customer’s relationship with the business.
Good experience with an F&I product goes beyond claims paid. It extends to customer service provided to your customers and your service center. Think of your own experience with call centers. The ones you hate are those that keep you on hold too long, don’t address your questions, or keep transferring you between departments. Good customer service includes answering calls immediately, listening to customer concerns, and responding to all questions politely.