Author: efgmarketing

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Business Growth

eLeads = Opportunity!

Glenice Wilder Vice President EFG Companies
Contributing Author:
Glenice Wilder
Vice President
EFG Companies

EFG Companies recently completed its second national consumer research study regarding consumer buying habits. The data from 1,457 respondents clearly showed the importance of an online presence when it comes to selling powersports. Specifically,

  • 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 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.

These data points should come as no surprise, especially if you consider your own online shopping habits. But one question should arise. Do you have the right team with the right skills to convert these eLeads into sales?

Selling in a Digital World

We’ve all been coached on email etiquette and hopefully have mastered professional online communication. But, converting a basic inquiry to a dealership visit, and a sale, involves more than an automated email response.

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Categories
Featured Powersports Market

Training Pre-empts a 911 Call

Glenice Wilder Vice President EFG Companies
Contributing Author:
Glenice Wilder
Vice President
EFG Companies

I don’t know if you are a fan of the 9-1-1 television series on the FOX network, staring Angela Bassett, Peter Krause, and Connie Brighton. If you DVR-it like me, the 10th episode which aired March 21 should give every powersports dealer pause. The storyline included a scenario where a man purchases a new motorcycle, and rides off without the dealer checking for a license or training. In mere TV minutes, the actor is involved in a horrific crash, prompting a call to 911.  The lesson for powersports dealers is clear. Always check to ensure the buyer is licensed for a motorcycle before delivering the bike! And always be sure the buyer is trained to ride the bike they just purchased!

Internal Training First

It’s easy for the sales team to “assume” the customer is fully prepared to enjoy that new bike. They asked all of the right questions and even mentioned several previous motorcycle experiences. But customers are often unwilling to admit their shortcomings or lack of knowledge. Therefore, your entire dealership team must be responsible for ensuring the buyer is fully prepared.

Take the opportunity to check the driver’s license early in the sales process. Confirm they are actually licensed to ride a bike. “Oh, I’ve ridden a bike for years!” is not sufficient. Almost every state notes a motorcycle on the license itself. Also, a quick check to the DMV database will flag the appropriate certifications.

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Uncategorized

Documenting Processes: More than Just Compliance

Steve Roennau Vice President Compliance EFG Companies
Contributing Author:
Steve Roennau
Vice President
Compliance
EFG Companies

Over the past few years, you’ve probably heard a lot about the importance of documenting your processes. Even with the changes at the CFPB, this importance is not diminished. Remember, the CFPB does not have jurisdiction over most powersports dealerships. State Attorney Generals, the DOJ, and the FTC do. And, these government bodies haven’t undergone significant changes.

Therefore, if you haven’t already begun the process of documenting your processes, it’s time to get that project started. I’ve spoken with a lot of dealers who thought documenting processes would take an investment of thousands of dollars and a legal team. This does not have to be the case. It simply starts with taking a process that your team completes every day and writing down the steps.

Of course, with the numerous, ongoing processes in a dealership, not everyone knows where to begin. This is especially true for those processes that are simply just part of the routine. Many dealers haven’t even conceptualized how to define them beyond, “just do it”.

Just like with any big project, think about tackling this project one bite at a time. Start with the checklist on your deal jackets. Define and write down the process behind each item on the list. Each process should consist of three components:

  • What you do
  • Why you do it
  • How you do it
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