DALLAS, TX (February 12, 2019) EFG Companies, the innovator behind the award-winning, Hyundai Assurance program, today announced results from several independent firms’ research and auditing efforts. In EFG’s bi-annual Client Satisfaction Study fielded by national research firm Troubadour Research and Consulting, 99 percent of EFG’s dealer clients stated they would highly recommend EFG, resulting in a Net Promoter Score* higher than Nordstrom, Ritz Carlton, and Amazon. Additionally, BenchmarkPortal, a global leader in the customer service center industry, certified EFG Companies as a Center of Excellence for the fifth year in a row. Lastly, in its 2018 risk examination as the company’s backstop underwriter, Assurant, Inc. – a global provider of risk management products and services – recognized EFG’s efficiency in claims’ adjudication. For more information, visit http://bit.ly/2pdueVX.
Category: Featured
LOVE (Learning Opps Through Virtual Engagement) Supports F&I Producers After Training and Helps Maintain Performance Improvements
EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced that the average EFG trainee generates an additional $204,605 per year in F&I income through a 22 percent performance increase. To help sustain this performance increase, EFG Companies also announced the launch of EFG Learning Opps Through Virtual Engagement (LOVE), a dynamic digital portal designed to boost F&I Producer knowledge, reinforce training learnings, and reduce the cost of a poor hiring decision for a dealership. To see one of the many training videos featured on EFG LOVE, visit http://bit.ly/2LgOnVY.
Many dealer principals and general managers complain that their past experience in sending F&I producers to training only impacts per-month results in the short term. In addition, when training is not reinforced in the dealership, improvements are quickly negated by diminishing returns. EFG Companies conducted a six-month analysis of the true impact of its industry-leading, behavior-based F&I training combined with its award-winning, in-store engagement model. The company compiled a series of metrics, both pre- and post-training, with both the trainees and their dealership management. EFG trainee performance showed:
- EFG’s guided-discovery training represented $204,605.00 in additional F&I income per producer per year, based on 80 turns per producer per month
- Average trainee F&I performance increased 22 percent
- PRU increased from $967 to $1,180 on average
Online Reviews, Pricing, & Quality of Vehicle Inquiry Responses Can Make or Break a Sale
EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today the results of its second national consumer research study revealing the critical role of a dealership’s online presence in making a sale. According to the 1,457 respondents, their buying research process goes well beyond simply narrowing down their vehicle selection, and the smallest mistake can eliminate a dealership from consideration. The softening market coupled with a growing Millennial/Gen Z consumer, demands an increased focus on the dealership’s digital eLead process to increase conversions. For more information, visit http://bit.ly/2GGG93K.
The research revealed seven key data points on the average consumer’s first point of contact with a dealership:
- 50 percent of customers check a dealer’s online customer reviews prior to considering them for a potential vehicle purchase.
- 71 percent compare dealership website prices before deciding which dealership to visit.
- 83 percent expect a response from the dealership within 24 hours of sending an online vehicle inquiry, and 16 percent want information immediately or within the hour.
- 43 percent say the more information you can provide online, the more apt they are to visit the dealership.
- 45 percent rank poor spelling, grammar and punctuation as a top three reason to eliminate a dealership from consideration.
- Only 9 percent want a phone call from the dealership after they’ve submitted an online request.