How to Capitalize on Financing and Insurance

How to Capitalize on Financing and Insurance

How to Capitalize on Financing and Insurance

Capitalize On Your F&I

Do you ever get that feeling that you’ve put all your effort into a sale, spent perhaps hours with a client, walking around the vehicle, letting them take it for a test drive— but the second you suggest any form of protection, your client looks at you like you have food stuck in your teeth? Why would they balk? But, in an instant, your prospect goes from willing participant in the conversation, to shutting you down like you’re a stranger and they need to run as fast as they can from you.

Don’t worry. It’s not them.

It’s you.

 

The Atrocity Of Your Handoff

It’s not your smile though. I’m sure it’s genuine. I’m even sure you’ve built the perfect rapport, putting their fears at ease and earned that sale of $40,000. The problem is in that instant, you go from knowledgeable advisor, to sleazy used car salesperson. You’re not being customer-centric.

That’s right. You may as well take a grinder to the hood of the car for all your prospect is going to buy it. Asking whether they wanted to protect that magnificent purchase wasn’t an ask, it was a betrayal. The car is great but, now it’s not? Your finance depart may be a part of your team, but that rapport doesn’t automatically transfer over.

It’s okay though. Financing and insurance don’t have to be as scary as people think. You don’t have to be that salesperson, sliding them into the conversation like you’ve already spoken about them a dozen times.

That’s the answer though. You should be talking about them a dozen times.

Your prospects aren’t comfortable with the conversation because you aren’t. They freeze up like the temperature dropped 50 degrees because you’ve just torn them from a happy dream.

Introduce F&I During the Walk-Around

You can do better with your F&I.

And it isn’t that hard.

What you should be doing is talking about it during the walk around. Qualify them as you have your conversation, not afterwards. You want to promote their intention to purchase. Make it comfortable by asking:

  • What do you do for a living?
  • How many vehicles have you owned?
  • Do you mainly drive on gravel roads, highways, or in the city?
  • Do you have kids?

Those questions will inform how you approach the financial elements of protection.

  • Heavy use may require extended warranty.
  • Volatile jobs may need payment or creditor protection.
  • Gravel roads may be hard on your wheels and tires.

Handing a client to the financial team after you’ve sold them on the vehicle can be jarring if they haven’t been prepared. Who wants to start the whole process over again? That’s not how to build trust with the client or your team. It’s definitely not customer-centric.

Consumers are often well educated about your vehicles before they come through the dealership’s doors. They may not however be so well versed in the protection of those vehicles. As you speak to them, you need to take an holistic approach, educating on the benefits of the vehicle. Promote the concept of ownership so they want to protect them.

Of course, the vehicle is great. Don’t you want to protect it from those gravel chips? Oh, you travel a lot for work? Drivetrain protection would a perfect complement.

Be Customer-Centric

In a customer-centric model, there is only one sale’s process and that includes ALL of the products you sell. It isn’t about what else you can stack on top of their bill, but advice on how to maximize their investment.

The Drive is a video series produce by Jason from Digital Dealership Solutions to assist vehicle dealership take their business to the next level. You can follow his videos here.

 

Thanks for reading! Stay tuned for more content.

Cheers,
Jason Harris

 

Stay in touch with me

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

More

Bigger.Faster.Stronger

Get in TOuch

Ford to Build an Electric Vehicle Using Tech From EV Start-Up

Ford to Build an Electric Vehicle Using Tech From EV Start-Up

The presence of U.S-based car manufacturer Ford in the world of electric vehicles (EVs) is admittedly tiny. But to say that it’s non-existent would be an incorrect statement to make. They’re making small steps to immerse themselves into the EV space in ways that fit Ford seamlessly. They previously announced the planned development of a fully electric F-150 and a crossover inspired by their iconic Mustang. But more could perhaps be put into development sooner than expected.

Ford has recently announced their intentions to invest $500 million into Rivian, an EV startup company. In return, Ford will have a minority stake in Rivian.

This is said to because Ford sees this deal as a “significant opportunity” to put a new EV onto the market sooner than if this deal wasn’t in place.

With this investment, Rivian’s technology will be used in an upcoming EV that’s been designed by Ford.

It won’t affect the previously mentioned vehicles; rather, it’s for a whole new EV. Unfortunately for eager consumers, no other information as to what kind of vehicle it will be has been available. Early speculation had been that it was a pickup truck, but that rumour was promptly squashed. With neither Ford nor Rivian disclosing this information, consumers have been forced to wonder what both companies have in store for them.

As previously mentioned, this isn’t the only thing Ford has done in the EV space. In the past, they announced their commitment to developing other EVs to the tune of a staggering $11 billion. But the American car manufacturer has said that their partnership with Rivian will allow them to learn more about EVs now more than ever before.

When it comes to Rivian, this partnership is sure to be one of their most profitable. But it’s also not their only one. A few months prior, they announced a $700 million investment with corporate giant Amazon. They also received another partnership with German-born car manufacturer Volkswagen. Rivian is said to be developing more models for other companies, although that list of companies isn’t known. The CEO has explained that they’re currently focused on their newfound corporate relationships, as well as launching and executing their products properly.

Ford’s partnership with Rivian is sure to produce a high quality EV that many consumers will enjoy driving. The only questions are what kind of vehicle will it be, and when it will be available for consumers to purchase. It will take plenty of time before those questions and many more will be answered.

 

Until then, consumers can continue to speculate what will come from Ford and Rivian working together.

Source: The Verge

Stay in touch with me

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

More

Bigger.Faster.Stronger

Get in TOuch

5 Things to Avoid a Complete Debacle

5 Things to Avoid a Complete Debacle

Disasters happen

You know those days that just go wrong from the beginning?

It’s like the universe is telling you to stay in bed. They’re the toe-stubbing, forget your pants, lose your keys kind of days. They happen— even to those of us who prepared.

The question is how we deal with them.

When S*@# happens

There are things we can do to make it easier. Some are proactive and some are reactive. What’s important is to stay calm.

Prepare physically and mentally

Some people will create checklists, while others will have everything in duplicate. Yes, that even means two computers. So when the slideshow doesn’t work on one, you can boot up the other. There will surely be something new come up that you haven’t thought of; but when it comes to presentations or events, you can think of a lot things that may go wrong and have a contingency in place.  Then, when you have all the physical planning in place, center yourself so you don’t crack under pressure.

Take it offline

Whether it’s a video you’re presenting or an angry client online, the best thing you can do is get everything offline. Don’t show your emotions, calmly put the computer mouse down, and have printed slides ready to distribute. If it’s an angry client or review, don’t make it personal or emotional. Find a way to communicate with the person directly as opposed to openly ,where everyone can see your responses.

Don't let it stick

It may feel like a gut punch every time something else happens to compound your day, but you have to roll with the punches and not let it affect what you do. Take a minute to center yourself and get back to it. The world waits for no one. Eventually, you’ll be able to laugh at it— the sooner the better, hopefully.

Focus on what's working

It isn’t all bad. You need to focus on what’s working and change on the fly so what people remember of that day is positive.

Press reset

If everything is so bad that you can’t see yourself resurfacing, then do what you can and do it all over again. Make sure to come back when you’re ready to fire on all cylinders. It may be direct by rescheduling a meeting to show a presentation or video again, or indirect by making an excuse to stop in and right all the wrongs you couldn’t get passed.

There are days your pencil will break, you’ll forget the computer cables, your computer will only show the blue screen of death, or you won’t be able to get online. The calamity of errors would be funny if it happened to someone else, right? Well, that’s how you have to think about it. If you can’t laugh at it yourself, you’ll end up crying, and that’s messy.

  

S*@# happens, get back up and do better next time!

Thanks for reading! Stay tuned for more content.

Cheers,
Jason Harris

 

Stay in touch with me

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

More

Bigger.Faster.Stronger

Get in TOuch

Canada’s EV Charging Network Continues to Grow.

Canada’s EV Charging Network Continues to Grow.

With the growth of electric vehicles (EVs) growing at a rapid rate throughout Canada, there’s also a growing demand for electric chargers. After all, having way more EVs driving on the road means that there will need to be more EV chargers available for drivers. The last thing anyone wants is for their car to die out in the middle of nowhere.

Petro-Canada and Electrify Canada- owned by Volkswagen- are currently in the process of building out more EV charging networks.

This is set to take place throughout the year, with the help of provincial utilities and similar adopters. Petro-Canada has revealed that they’re going to build 50 EV charging networks across the Trans-Canada Highway, as well as parts of Northern Ontario and the Prairies.

Meanwhile the latter, Electrify Canada, claims that they’ll have 32 EV charging stations available for consumer usage by the end of the quarter.

These stations are going to be built at the Calgary-Vancouver and Québec City-Windsor corridors. Their chargers are capable of carrying 350 kilowatts- a charge that can add 200 kilometres of range in just eight minutes.

These announcements are respectively large and important, especially to those who own an EV in Canada. But they’re far from the only ones. Ateco- an Alberta-based company- had announced back in February that they were going to build about 20 charging networks south of the province by the end of 2019. Such chargers currently live in both Glacier and Yoho National Parks. Popular American EV company Tesla has already started building their own EV charging network, with both chargers and vehicles that support 350 kilowatts of power. These are much smaller than the previously mentioned initiatives, but there’s still important to mention.

Building all of these EV charging networks ensures that those who own an EV are less likely to be without a place to charge their vehicles. These chargers support a capacity of 50 kilowatts, and can charge 320 kilometres of an EV’s range in about an hour. This is far and away faster than the overnight charging of a 6.6 kilowatt level two charger- a charger that most any EV owner can have installed at their own home. This makes these specific EV chargers more powerful and more reliable.

The idea behind installing more EV chargers isn’t just to make the lives of their owners easier. It’s to also help encourage potential consumers from buying one. The psychology behind this is that a potential consumer will realize that the fear of being unable to keep their EV properly charged is unfounded. Not just because of the growth of Canada’s EV charging network, but also the current size of the charging network. There’s already over 500 fast chargers across Canada from over 400 level two and level three charging sites. These sites can be found in behind buildings, near garages, and in parking lots, just to name a few locations.

If you don’t own an EV- or simply don’t care about them- then this move may be seen as a surprise.

But the effort of increasing Canada’s EV charging network is not a surprise for the federal government. The Liberal government had previously committed about $130 million for five years to build chargers and grow charging networks in underprivileged areas of the country. There’s speculation that they’re going to receive some flack from companies for the EV charging network growing. This is due to the high price, increased strain, and reduced battery life from an overheated charger. There’s almost a struggle to find and maintain a balance of power density and energy density.

It’s clear that it’s going to take several years for Canada’s EV charging network to grow to as big as many wish it could be now. It’s also going to be a lot of work to try and keep consumers and companies both happy with their respective wants and needs regarding the matter.

But with the right people dedicated to making it happen, there’s no doubt that Canada will be growing their EV charging network at an alarming rate.

Source: CTV News

Stay in touch with me

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

More

Bigger.Faster.Stronger

Get in TOuch

The fundamental elements of internet marketing

The fundamental elements of internet marketing

The fundamental elements of internet marketing

SEO or SEM

Internet marketing is complex.

In fact, Google and Bing— the two largest search engines— are constantly changing the rules so techniques that work today may not work tomorrow. It’s been known to happen that those changes make a company fall overnight, losing both ranking and income in the blink of an eye. No dealership can afford that loss.

When it comes to internet marketing, there are two acronyms that every dealership should get comfortable with; SEM and SEO. SEM— search engine marketing— and SEO— search engine optimization— are two sides of the same coin. While many marketers have a preference, it’s essential for your business to understand both and determine which has more value to you.

SEM

With search engine marketing, your goal is to increase the visibility of your website on search engine results pages (SERPS). You accomplish this through a combination of advertising such as pay-per-click (PPC) and optimization like SEO. Because SEM includes SEO, many people improperly use them interchangeably. However in a traditional sense, we use it to refer to primary advertising on search engines.

At the risk of opening Pandora’s box, you should also understand PPC, which is a process of placing ads on the search page— usually at the top or bottom— and linking them to landing pages like the ones you use for Facebook marketing. Your cost is based on how many clicks you get.

SE0

When searching for a website, the results come in two forms. The first are the ads at the top and bottom of the page, and the second are the listed items in the center of the page. SEO is the process of increasing your ranking in the center section.

SEO can be accomplished in two ways— what you do with the content on your page and what you do off your page like building links to other similar pages. Think of SEO as going up to the tallest skyscraper and shouting as loud as you can so everyone hears after you created the content on your website. Why shout? Because if you create all your content and don’t tell anyone about it, then how will they know?

SEM VS. SEO

On its own, PPC advertising may not work if your audience isn’t inclined to click. Some demographics specifically shy away from ads, navigating to the organic list. When that’s the case, spending the effort to elevate your ranking can be invaluable. Organic SEO takes much longer to establish a good ranking, especially as more of your competition works on their own positioning. As it is based significantly on the importance of doing the right thing for your audience, you’ll establish credibility in the process.

While we’ve already discussed how to come to your overall budget, understanding the concepts of SEM and SEO will help you decide to split your budget so you don’t get pulled in both directions. You should never think of the process as either or, but how they can complement each other.

SEM cannot succeed without organic SEO, and SEO takes time and effort to rank well.

The good thing about the whole process is that digital marketing offers clear feedback so you can determine what resonates with your audience. Google and Bing business accounts offer you the opportunity to see what people are searching for, how much your competition is spending on direct ads, and whether the audience is navigating towards organic search or paid ads.

How much is a client worth to you?

Just like the superstructure of a vehicle, it’s always advisable to start with content and SEO. While much of the process you can do yourself, because of the ever-changing nature of SEO, it can quickly become necessary for an agency to take over. Once you have that cost, you can proceed to the paid portion of SEM. When you understand how much the market is paying for PPC advertising on Google and Bing, compare it to how much you’re willing to spend to obtain a lead. You’ll know whether it’s worth your investment and adjust accordingly.
                                                                                                                                                                                                                       

Thanks for reading! Stay tuned for more content.

Cheers,
Jason Harris

 

Stay in touch with me

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

Be inspired through Jason’s Instagram

Build your brand with Jason’s Facebook.

Learn weekly from Jason’s YouTube

Get inside Jason’s head with Twitter.

More

Bigger.Faster.Stronger

Get in TOuch