Straub Automotive has solid evidence that its use of mobile technology in the showroom spurs F&I sales. The proof comes by way of Straub Honda in Triadelphia, W. Va., one of the group's five dealerships in the state.
In September 2016, Straub Honda reaped $32,000 in F&I product sales on the 55 vehicles it sold during the month, working out to just under $582 per vehicle. Then it adopted mobile software to simplify the F&I process, and F&I product sales boomed. In September this year, the dealership reaped $78,000 in F&I product sales on the 58 vehicles it sold, working out to just under $1,345 per vehicle.
All five Straub dealerships improved F&I sales as a result of the software, said Kevin Cook, the group's general manager and director of operations.
"We promise [customers] it will be the easiest deal they've ever done," he said. "Our goal is to get them out of the dealership in under one hour. We make the whole deal right at the salesperson's desk."
That's made possible by the software, eMenu for iPad from Dealertrack. There's no need for customers to move from the sales desk to complete the F&I review. Instead, the review comes to them via the iPads. Customers use the eMenu to independently examine F&I product offerings before discussing specifics.
Some customers are uncomfortable with technology and don't want to use eMenu alone. Salespeople stay with those customers and help them operate it, Cook said.
"In the past, customers just became comfortable at [a sales] desk and then were taken away from the area to meet the F&I manager," Cook said. "Now the customer can stay right in place and [use the eMenu] to take a look at everything. It is a smooth presentation and explains everything they need to know."