Complexity

Posted by Erik Landrum on April 11, 2019 in F&I Selling Strategies, Product Knowledge

Initiative may be defined two ways, but the meaning we’ll focus on is the ability to assess and initiate things independently. Resourcefulness is another way to put it. Most Business Managers are quick-thinking, intelligent folks. Recently I had the privilege of working with a Business Manager who was not only quick-thinking, but resourceful as well. He had taken a series of photos, with his phone …

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Owner’s Manuals

Posted by Erik Landrum on April 11, 2019 in F&I Selling Strategies, Product Knowledge

I once had a Guest who contacted me with some strange feedback, the day after he had taken delivery. This particular gentleman, it would seem, was experiencing a sort of manic episode. He couldn’t get over the fact that, in his words, his new SUV practically drove itself! “I don’t have to use the brakes entering corners…the car does it for me”, he proclaimed. “Heck, I don’t even have to take my fo …

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Guaranteed Asset Protection

Posted by Erik Landrum on April 5, 2019 in F&I Selling Strategies, Product Knowledge

According to Experian Automotive’s third–quarter “State of the Auto Finance Market” report: -the average new vehicle loan increased by $1137 over the previous year. -the average new vehicle payment only increased $12 over the previous year. -27.5% (an increase of 17.1%, year over year) of new vehicle financed purchases and 16.2% (an increase of 12%, year over year) of used vehicle financed purcha …

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Mechanics and Tools

Posted by Erik Landrum on April 3, 2019 in F&I Selling Strategies, Product Knowledge

When I ask many Business Managers who their best mechanics are, the answer is often “I don’t know”. This is an incredibly valuable, untapped resource by those of us in the business office. Mechanics typically invest many tens of thousands of dollars in tools. Considerable money is spent on keeping these technicians up to date on their trade-craft through continuing education. Add, to these investm …

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Product Knowledge

Posted by Erik Landrum on April 3, 2019 in F&I Selling Strategies, Product Knowledge

Last month’s topic focused on the establishment of credibility and paying careful attention to detail. A business manager may process the early stages of a deal near perfectly: -Reviewing the deal jacket and its contents quickly after receiving the deal and realizing what, if any, of the required material is missing. -Conducting the customer profile/interview within 3-5 minutes of initial turn-ove …

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Credibility & Attention to Detail

Posted by Erik Landrum on April 3, 2019 in F&I Selling Strategies, Product Knowledge

Credibility is defined as the quality of being trusted and believed in. Truer words I can’t think of as being more critical to the success of our goal, satisfying our customer’s need for peace of mind. We are presented with a very narrow window of opportunity to establish credibility with our customers whom, oftentimes, have never met us before. Any missteps during this time will almost certainly …

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