Customers expect a great experience.
In F&I, products are only 25 percent of what you sell. The remainder is an intangible feeling tied to that product. That requires helping the customer experience the benefit of each product on a personal level.
Multiple product presentations are no longer a satisfactory sales process for customers. Instead, customers today are looking to reduce or eliminate unexpected and unforeseen risks. In the F&I office, they want to know why a particular product is important in their unique situation.
While online shopping offers more convenience, it eliminates the personal interaction necessary to make an informed purchase. Customers have made it clear the impersonal efforts of the past will no longer be rewarded with their participation.
When an F&I professional makes a genuine effort to understand their concerns, it results in an open discussion that focuses on product benefits vs. payment and price. When that happens, both the customer and the dealership win. Positive customer experiences are shared on social media, but negative F&I experiences leave a lasting stain on a dealership's reputation.