Dealership Training EFG Companies F&I The Transcend Group

Sales Philosophies – Value

Understanding value – Often when one hears the word “value” they instantly want to attach a price.  Supposedly, creating value enables you to command a higher price, but the truth is value really has nothing to do with price.  The creation of value is not about increasing your company’s bottom line; it means creating value for your customer. While some products are just so good that their value is apparent to the customers, other products have to strive to create a unique individuality that will allow their value to stand out to the customer.  They may create value with service delivery, better business interactions, better terms and conditions or outstanding customer service.

This is the case in automobile marketing.  While some customers are so brand loyal that your product has instant value, others are looking to see what you have to offer in addition to the vehicle or other products that you are marketing.  If the customer understands and appreciates the value you create, then you can demand a higher price for your products that translates into obtaining value in terms of sales for your company. EFG Companies can help you understand how your personal business philosophy has a direct impact on the creation of your products value.

Are you a serious closer or are you a “of service” closer?

Signs of a serious closer

•    Only thing that matters is how many deals you close and how big your paycheck is at the end of the pay period.

•    Deadline and sales quota driven

•    Constantly moving on to the next customer

Signs of a “of service” closer

•    More concerned with providing customer service than the close

•    Takes time to listen and understand the customer’s needs

•    Remains positive and creates product value for customers

•    Willing to allow the close to walk away if it is not in the customer’s best interest

EFG Companies, with their added products and services, can help you to further understand and assess what type of closer you are, as well as understand how your personal business philosophy translates into marketing a business philosophy. That philosophy adds value, which will make your automobile marketing a success.


EFG Companies F&I

Encourage the ‘Hand-Me-Down Culture’ with Proper Services

Statistics show that, on average, consumers are keeping their vehicles longer. This may be attributed to several things:

  • Quality vehicles are being made to last longer than their predecessors.
  • The tight economy and weak job market has people more skeptical about taking on debt.
  • More dealers are offering automobile service contracts that are extending the life of vehicles.

EFG Companies has a full range of added products and services that can help you and your dealership create customer retention programs designed to educate your customers regarding the importance of automobile service contracts.  The contracts sell themselves when the customers understand the following.

  • Their investment is protected – For most consumers their vehicle is the most important asset they own.  It meets all of the transportation needs of the family, and the last thing they need is a large, unexpected repair bill.  A service contract alleviates this worry.
  • Repairs to fit into their tight budgets – By having a service contract that helps with major repairs, they are able to make payments over time versus the typical one-time large payment due when the repair is completed.
  • Vehicle value increases – A vehicle that has been serviced on a regularly scheduled basis usually has a higher resell value than one that has not.  The automobile service contract encourages consumers to regularly schedule service appointments, which, in turn, will not only increase the value of the vehicle but also increase the dealership’s bottom line
  • Vehicles last longer – The average automobile service contract covers many different parts of a vehicle and often goes beyond the manufacturer’s warranty. Continued coverage on vital components means that they are serviced as needed, which will increase the lifespan of the vehicle and lead to a more reliable performance. This enables consumers to keep their vehicles longer and pass them on to the next generation, which will increase brand loyalty in your dealership.

EFG Companies helps create lifetime customers.  We can assess your current customer retention programs and assist you in creating a winning situation that will have your customers returning for generations to come.

Dealership Recruiting Dealership Training EFG Companies The Transcend Group

EFG Companies Combats Dealership Turnover

A new Automotive News article, published June 6, 2011, says that sales staff turnover at dealerships is lower than ever. In the past two years, dealerships lost an average of 34 percent of their total sales force. Smaller dealerships in rural areas had even lower sales staff turnover of about 24 percent. Historical figures average closer to 45 percent turnaround.  There are a few reasons for this trend, the article claims, but Enterprise Financial Group, Inc. (EFG) has its own viewpoint.

According to the Auto News article, people are disinclined to quit their jobs during tough economic times. After General Motors and Chrysler went bankrupt, there became fewer places for job-hoppers to turn. Plus, the tumbling housing market is directly tied to salesmen sticking around as well.

Dealers are looking at this as a good thing. Lower turnover in any business is desirable, but there is another aspect that holds even greater importance. In order for the business to stay profitable, dealerships must ensure that their sales staff is comprised of people who are the most productive. The Recruitment and Workforce Solutions services provided by EFG Companies are incredibly important for retaining the right employees, in the right jobs, for the highest level of productivity.

Why you should look into EFG Companies:

  • For every Poor Hiring Decision ( your dealership makes, you experience a loss after the turnover. When advertising, interviewing, training, lost sales, and lost service revenue are factored in, your dealership could easily lose upward of $75,000 per employee that ends up not being the right match for the job.
  • A recent poll taken of dealership owners revealed that a majority of respondents (65 percent) said that recruiting, hiring, training, and retaining top-quality sales team members is the most difficult challenge they face.

Solutions offered by EFG’s Recruiting Services:

  • Top Performer Profiling – The behavior traits of salespeople across the country have been profiled so that future top performing sellers can be profiled and compared to currently successful ones. In this way, top performers can be identified before they’re ever hired.
  • Recruiting Process – Every part of the recruiting process is handled by EFG.  Specific areas include advertising, questionnaires, personality profiling, reference checks, interviews, and placement.
  • Tracking and Monitoring – EFG’s web-based recruiting platform tracks the entire recruiting process.  This allows thousands of jobs applicants to be screened every year.
  • Refined Process – Thanks to EFG’s 30-plus years in this business, the recruiting process has been completely refined.
  • Workforce Solutions – EFG offers everything from PDP Certification and Mentor Training to Effective Communications and Leadership Skills workshops. These solutions not only make sure you have the right people in the right roles, but that those people are accurately trained to the highest standards to ensure success for the whole company. Our training programs and workshops will teach people how to leverage their natural strengths and learn the strengths of their coworkers and teach them how to work together. We believe dealerships are a social organization run on people, and our workshops are developed to give those people all the tools they need to be successful.

All dealerships are unique, and your current recruiting and employee retention practices may be effective for you.  Therefore, EFG will perform a quick, complimentary analysis of your current methods. If you’re tired of lost revenue from high sales staff turnover, you have nothing to lose by getting in touch with EFG Companies today, where lower turnover and increased productivity occur with 96 percent of our clients.

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