Insights To Help Close The Deal
BBDS recently sponsored a qualitative sales process consumer exploration focus groups across 13 states in the South, West, Midwest, and Northeastern United States (in other words, focus groups on the F&I menu process). Consumers were selected based on that they had either made a purchase in the past 12 months or considering a purchase in the next 6 months.
We asked for feedback in three key areas: Time, Product and Process. We gained a large amount of consumer insights. Below are just a few interesting insights gained from the groups.
- Customers expect to spend 15 to 30 minutes in the F&I office.
- Consumers are interested in the products offered and want to hear about options offered. However, they do not want to be sold or pitched. The more transparent, consultative, and visual the approach the more open consumers are to consideration.
- Key products of interest within the groups were Gap, Road Hazard and Vehicle Maintenance.
- Consumers believe protection products offer savings, peace of mind and protection from the unexpected.
- Consumers want more information about products on the dealer’s website so they can research products prior to finalizing the purchase. They would prefer video and are looking for a format that can help them understand the product and determine if it is right for them.
- At least one consumer in each group that had purchased in the past 12 months completed the transaction completely online.
The focus groups told us that they are very open to the products we offer in F&I. They want a more transparent and efficient process and would like to have more objective video-based information on products available prior to coming into the dealership or completing the transaction online. They do not like a sales approach to F&I and they want to participate in the process if we will let them. Transparent, Consultative, High information and Efficient.
Sounds a lot like what customers can expect from the BBDS F&I process.
Please contact your BBDS representative for details >>>