Author: efgmarketing

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Featured

EFG Companies Launches Innovator of the Year Award-Winning Products

Packaging Service Drive Retention and Repeat Purchase In One Mobile App

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced the launch of Driver’s Advocate, a mobile app representing the culmination of both the 2015 and 2016 Northwood University Innovator of the Year Award winning products. Driver’s Advocate was designed to foster greater consumer loyalty through service drive retention, while also providing theft protection and inventory management. For more information, visit: http://bit.ly/2AN4kO2.

Driver’s Advocate provides consumers with:Desktop-Header

  • a service scheduler;
  • direct, mileage-based messaging with service and maintenance reminders;
  • a loyalty point tracker, where loyalty points can be used for discounts on services provided, and/or as a down payment towards their next vehicle purchase with the selling dealership;
  • a theft tracker that alerts consumers when their vehicle moves while they are not in it;
  • an easy-to-use fuel finder, and much more.
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Categories
Industry Trends

Managing the Shifting Retail Automotive Landscape

Contributing Author: James Ganther, Esquire Co-Founder & President Mosaic Compliance Services, LLC
Contributing Author:
James Ganther, Esquire
Co-Founder & President
Mosaic Compliance Services, LLC

As a retail automotive dealer, do you feel like the very nature of your business is changing right in front of you? Advances in technology are making it possible to conduct a good deal of the vehicle-purchasing transaction online. A new generation of car buyers who want more digital resources is rising in buying-power. Change is in the air.  How will technology change the way F&I professionals ply their trade?

To answer that question, I have to go far from the realm of retail automotive to the cerebral world of TED talks.  The third-most viewed TED talk of all time is Simon Sinek’s “How Great Leaders Inspire Action.”  More than 35 million people have invested 18 minutes to watch an English/American author explain what he calls the “Golden Circle.”  If you haven’t seen it, you can look it up on ted.com.  It’s worth the watch.

One of my take-aways from Sinek’s talk has more to do with what he did than what he said.  Sinek didn’t have any high-tech A/V presentation to back up his words.  He used a flip chart on an easel and a fat black marker to illustrate his points.  Sinek wasn’t an artist and his handwriting wasn’t all that good.  Midway through his talk, his microphone failed and he had to be handed a new one.

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Categories
Compliance

F&I Compliance Training

Contributing Author: David Robertson, Executive Director, Association of Finance & Insurance Professionals
Contributing Author:
David Robertson, Executive Director, Association of Finance & Insurance Professionals

One Size Doesn’t Fit All

Watch a couple of TV programs and you’ll likely catch at least one commercial for an online college degree. The boom in online training is true for our industry, as well. Given the emphasis on formal dealership CMSs, the ranks of online training providers are growing.

E-training can be a cost-effective and convenient instructional tool. However, it’s not a one-size-fits-all proposition.

Online training with self-testing – as a standalone method – appears to be conducive to human resources, occupational safety and administrative procedures. Areas where the focus is directed inward – the implementation of task-specific directives by individual employees.

F&I activities, on the other hand, are directed outward. In addition to the practitioners themselves, other people are key components of the compliance equation. Chief among them are hundreds of prospective customers, as well as funding source paper-buyers, aftermarket product service reps – and sales managers and vehicle sales personnel.

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