A “Cure” for the Common “We offer” Syndrome
Recently I was observing a group of F&I managers role-playing. I noticed that most of them were step selling and began the selling attempt for each product with the phrase “we offer”, followed by a series of features with no mention of benefits.
To allay an F&I manager’s anxiety about being videotaped in a practice session, I often train the camera on the “customer” instead. Typically, the playback shows the customer visibly recoiling to the words “We offer”. Is this phrase a trigger to be on high alert for a forthcoming sales pitch? Or does it translate as “I must tell you about this and you should probably say no, because I would not buy it myself?” What comes to your mind when you hear, see, or think about “We offer…?”
Presenting a service agreement with conviction is the key to creating value. Believing in the product is critical to relaying the features, advantages, and benefits of the service. Do you know why your customers need a service agreement? Can you list or name the reasons? Do you know the difference between product features, advantages, and benefits and how to use them in your presentations?
A feature is a characteristic of your policy, such as “covers 100% of parts and labor costs’. The advantage is WIIFM (What’s in it for me?) from the customer’s point of view. The advantage of the 100% parts & labor coverage is that the customer will not need to set aside a separate repair budget. A benefit is the value of the feature to the customer. So the benefit of the 100% parts & labor coverage is that the customer has increased financial security for themselves and their family.
Your presentations will be stronger with more profitable results when you use “SPACED” benefits to provide product & service solutions for your customers:
• Security
• Peace of Mind
• Affordability
• Convenience
• Ease of Use
• Dependability
Step selling can be exhausting for both the customer and the F&I manager. An F&I producer has only 20 minutes of prime selling time from the moment the customer enters the F&I office. With so many service agreements, protection plans, and security systems available doesn’t it make sense to present the benefits to each customer from their point of view and settle on the terms when you discuss the price and payments? That way the focus is on whichh plan, rather than a yes or no to each plan you introduce. The cure for the common “We offer” syndrome is to use the benefits of product features to your advantage.
Dealer Marketing Magazine, October 2003, p. 5