Category: Dealership Training

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Dealership Training The Transcend Group

Strategies for Sales with an Influx of Inventory

In order to compete in this buyer’s market while trying to make year-end sales, it is imperative to have strong strategies for sales with an influx of inventory.  As domestic and foreign manufacturers ramp up their advertising and promotions in an attempt to win more market share and increase demand, dealerships must be prepared to clear the lots as quickly as possible to accommodate increased inventory.  Dealerships need strong teams to successfully manage a more difficult buyer’s market rather than trying to rely on a few top performing salespeople to get the job done.  This makes recruiting and training the best talent to effectively build customer relationships more important than ever.

According to Stephen Roennau, Vice President, Training Services, EFG Companies, “When clearing the lot is a priority, it is an automatic reaction for sales teams to ignore customers’ wants and needs and just push the deal.  This reaction is a classic mistake made by most sales teams.  In a buyer’s market, it is even more important to establish relationships with the customer.”

When a customer can go to any dealership to get the vehicle that they want at the price they want, the ability of sales teams to build relationships makes all the difference.  People often give away tidbits about their lives during discussions about the vehicles they are considering purchasing.  A good listener will pick up on these details and use them the help the customer find exactly what they are looking for.  For example, “I understand you are looking for a vehicle for your family; I know I would want my family members to be in the safest car on the road, and because of that, I would go with this car for these reasons.”  It is also helpful to use reflective listening in conversation and repeat some of what the customer says to ensure understanding by both parties.

Teaching members of the sales team how to build relationships by transforming the mindset from overcoming objections to reflective listening gives dealerships the edge that they need to stand out in a buyer’s market.

For more information about EFG Companies, please contact us or join our social communities.

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Dealership Training EFG Companies F&I The Transcend Group

F&I Training: Four Ways to Keep the Customer Engaged

A crucial part of F & I training is learning how to keep customers engaged while they’re in the finance office.  At EFG Companies, we recommend offering extensive training to your new staff to make the process as efficient and productive as possible.

Every aspect of the sales process should focus on the importance of building a relationship with the customer rather than simply trying to push a sale.  The time spent in the finance office is no exception.  The first step is to make sure that you are always mindful of respecting the customer’s time.  Offering F&I services should be done efficiently so that the customer doesn’t lose interest before the products or services are even offered.

  1. Ask a series of simple questions to determine which products or services best fit the customer’s needs, and focus on those rather than overwhelming the customer with a detailed description of everything.
  2. Offer the customers a variety of options that fit their driving habits and needs.
  3.  Clearly explain how each option could benefit the customer in the long term, based on their identified needs.  This is another opportunity to build a lasting, trusting relationship with the customer.
  4. Before you attempt to respond to any resistance, listen and clarify the objection, make sure to justify your point based on their specific circumstances

It is critical that dealers select the right F&I products for their dealership in order to maximize dealership profitability.  As the innovators behind the award-winning Hyundai Assurance program, our industry-leading assortment of products includes everything from Vehicle Service Contracts to our Drive Forever Limited Lifetime Powertrain Protection. 

For more information about EFG Companies, feel free to contact us or join our social communities.

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Dealership Training EFG Companies F&I

EFG Companies to Partner with New York Times Best-selling Author, Grant Cardone

The innovators behind the award-winning Hyundai Assurance program, EFG Companies, and international sales expert, trainer and New York Times best-selling author Grant Cardone announced today a new strategic partnership in which Grant will create online training material for EFG’s programs, beginning with EFG’s Drive Forever powertrain program.

When dealers sign up for Drive Forever, they will receive an initial install training course from Grant.   EFG will then conduct ongoing, individualized programs to enhance the ongoing impact of top sales performance in dealership.

By partnering and co-marketing our products and training services, our goal is to facilitate increased auto dealership profit and higher customer satisfaction. We will better enable dealers to improve sales and leadership skills, drive sustainable performance improvement and increase in-dealership engagement.

“With the start of the year-end share war upon us and a tough 2012 ahead, dealerships are looking to supplement their teams with the best training and tools available. We are privileged to have Grant’s endorsement of the Drive Forever program,” stated John Pappanastos, our CEO. “This long-term relationship combines his unrivaled training and our ongoing engagement to exponentially drive higher profitability for both of our client bases.”

“I’ve consulted for players in the automotive industry and provided practical tools to maximize opportunities, achieve goals and develop the skills necessary for phenomenal success,” said Grant Cardone.  “EFG has an incredible reputation and track record of dealer success, built upon 34 years of insight into consumer purchasing behavior of auto protection products.  I look forward to working with them to take their results to a whole new level.”

To learn more about Grant Gardone and his incredible sales expertise, please visit his website and YouTube channel. For more information about EFG Companies and our extensive range of products and services, feel free to contact usand join our social communities.