Welcome to the New Year rush! At your dealership, you’re trying to move out those older units while negotiating for new models. You’re also connecting with key business partners to review and finalize plans and projections for 2025. And last – but not least – you have a calendar chock full of social commitments with friends and family! But what if I told you we could give you MORE in 2025? Let me explain.
While 2024 was not optimal on many fronts, there were some areas of improvement. Inventory on your lots started to stabilize with units your customers actually want…not just whatever rolled off the factory floor. OEMs began to feel the market softness and started to offer incentives that were attractive to previously hesitant consumers. And your customers started to feel a bit more optimistic about the state of the economy and their own financial situation.
All these market movements translate to one clear reality – it’s a buyer’s market now. In more ways than one, the consumer is firmly in charge of the make/model of the vehicle they want to purchase, how they want to purchase it, and from whom. Fortunately, we have some guaranteed methods to help you reach MORE customers, close MORE deals, and generate MORE revenue.
MORE fundamentals
In 2025, stay focused on the fundamental skillsets of meeting the customer’s needs. This means understanding that customer, matching them with the right vehicle for the right price, and supporting them through the life of that vehicle. Customer return and repeat sales are based on relationships, and yours starts from the first encounter. This mindset shift requires some very targeted training to get rid of some bad habits that set in during the pandemic when you didn’t have to work to make a sale. Remember, this environment is likely new to your current sales team or has been forgotten by your veterans. Our Training Services team goes beyond the traditional methodologies, helping F&I trainees produce up to $206,400 in additional revenue per year – a 100x return on your initial investment.
MORE differentiation
With more inventory and deals to be had, consumers have choices. And they may not pick you if you don’t make targeted, strategic efforts to differentiate yourself from the dealership across town – or across the country! We live in a digital world now, and buyers have options at the click of a button. Give them a reason to buy from you with programs and offers that deliver transparent, tangible value the customer can easily understand. Again, training is critical here to ensure your sales – and service team – are masters at effective digital communication. With a proven track record of improving NET PRU by up to 75% through our award-winning client engagement model, F&I development, and consulting practice, we guarantee you’ll hit your PRU target. Or we pay you!
MORE reasons
Finally, it’s no secret your customers are keeping their vehicles longer. If they haven’t yet, they will likely be impacted by expensive repair bills. While you’re building a long-term relationship with the customer, spend time educating them on the true value of protection products that will save them money in the long run. Discuss products like Drive Forever Worry Free that will ease their concerns about being able to afford unexpected repairs down the road. Make sure that a visit to your service drive is easy and pain-free. Give them MORE reasons to purchase from you through a team of people trained to really care.
While you’re taking these steps in 2025, you’ll be doing more than connecting more with customers. You’ll be training your employees to generate more revenue more efficiently, boosting their self-esteem and fostering leadership skills. You’ll also make more time to have a greater impact on the community. And there’s a chance you might find more time with friends and family, all while making more revenue and improving your reinsurance position.
As we step into the new year, we want to thank you for the trust you place in us. For almost 50 years, you have depended on EFG to help achieve your profitability goals and we are honored by the opportunity. At EFG Companies, we’re more than an F&I provider, we’re your business partner in the retail automotive industry. Together, let’s make more in 2025.