Competition

Posted by Erik Landrum on January 11, 2020 in F&I Selling Strategies, Objection Handling

Clearly, each of us has the privilege of living in a capitalistic, free market economy, guided by the rules of free enterprise!

Privilege is defined as a special right, advantage, or immunity granted or available only to a particular person or group. Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. A free market is an economic system in which prices are determined by unrestricted competition between privately owned businesses. Free enterprise is an economic system in which private business operates in competition and largely free of state control.

The inherent competitive forces, present in our system, serve to ensure we provide our Guests with the best products, be it goods and/or
services, available. Otherwise, market forces will remove us from the economic ‘gene-pool’.

Evidence of these impetus may be seen all around us. We have excelled and accomplished so much, in a relatively short period of time, as a result of the need to be better!

It is for these very simple reasons that we offer the products we do.

Think about that, for a moment…

We are in the people business. It is up to us to provide all the necessary perspective (i.e. sell), regarding our intangibles. Our Guests can’t drive our contracts around the block. Our products don’t have that ‘new car smell’. Yet it is of our products which, when properly taken advantage, will serve to insure our Guests usually second largest investment is protected from the unknown and ensure their financial health isn’t devastated, otherwise.

Afterall, we know that…”Our HAPPIEST Guests are those who don’t have to pay for ANY of their repairs, for ALL covered parts AND labor… less their deductible, and we even have options on that!”

We know that the likelihood our Guests will return, for their subsequent vehicular needs, are far higher having enjoyed the piece-of-mind and financial freedom our products provide. It’s easy to foresee that their level of satisfaction will be much higher when their whose-awhatsit breaks, and someone else pays for it! Suddenly things evolve from, ‘this is the worst vehicle, ever!’…to, ‘meh, stuff happens.’

As an additional benefit, our dealership saves a fortune when we aren’t constantly compelled to generate ‘new’ customers! When,
instead, we are able to take even better care of those with whom we’ve already created a business relationship, we ensure their return.

In keeping with this sentiment, it’s also easy to understand why we would, therefore, seek a resolution to our Guest’s needs in the form of the best products available to the market? After all, consider the fact that it is our Service Writers who are on the front line, in the service drive. It is they who enjoy the privilege of delivering the good news, immediately following the bad! “Folks…I’ve got bad news, but REALLY good news right after that! Bear with me. The bad news…your vehicle is going to require forty-three hundred and twenty six dollars worth of work, to get back on the road safely! The really GOOD news…is someone else is going to pay for it!!”

Think about this the next time you’re confronted with the possibility that your Guests may seek a resolution to their coverage needs from an outside source. When your Guests say, “our _ has coverage available, also”, you may want to share this additional perspective. Will it be a representative of THAT organization delivering the bad news? Of course not. Therefore, is it a stretch to then consider that they might not have to resource the quality of products that we do?

Remember, your Guests are listening, and they are counting on you.

Think about it.

Good luck and good selling!

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Conley Insurance GroupCopyright 2019 – Conley Insurance Group Inc.,

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P: (314) 909-9100
F: (314) 909-9157

13421 Manchester Road, Suite 204
Saint Louis, MO 63131