According to systematic sales coach David Masover, a Needs and Wants assessment should be the center of any sales process. It starts right after the client has entered your dealership.
Through the dealership’s needs-based assessment, your staff can quickly build their relationship with a client focus. The client answers a series of simple and straight-forward questions that assists the Sales Rep or F&I manager to determine which products are most applicable to each client’s situation and reveals how they drive based on lifestyle.
By continuing to touch on the Needs and Wants assessment, the client 'warms' quickly to your staff. Attention is focused on the client, allowing them to open up further and give more clues into which products are likely to fit them best. As well, the client is then inclined to buy the products you suggest. They perceive the products – maintenance contract, identity theft, paint sealant, and more – are of value to them, not just a sale to the F&I manager.
The transition from the Sales or Client Advisor to the F&I Rep or Manager is a unique step in the traditional car sales process. More often than not, the salesperson hands off the client to a new face, basically in the middle of the transaction. The F&I Rep, with limited knowledge, must establish a connection in a short time frame while executing their sales role at a high level. And although the salesperson has already established a relationship with the client, the F&I Rep has less personal information to serve as talking points, let alone determine the correct products to recommend and offer the client. This is where the Needs-based Assessment can make a siginificant difference in helping smooth out this transition and keep the sales process client-focused.
Counter-intuitively, a needs-based assessment does not mean that every product offered will be presented and sold. Its intent is to show the client the products that are important to them based on the information they’ve provided.
A suggested service contract may not be necessary if the client only keeps their vehicle for a couple of years, but a maintenance agreement might be the perfect fit.
If the client parks their car in a parking garage, paint-less dent repair may be a superior solution to pesky door dings, plus a lease protection plan adds an extra layer of security.
While fewer products may be on the table for each client, the products which are presented are of the most benefit to that specific client, dramatically improving the penetration rate. Between the rapport built with the client and the improved penetration rate, your dealership’s Needs-based assessment process will drive your F&I office forward.
To learn more about the impact a 'Needs & Wants Assessment' can have on a delaerships sales process and what it looks like in an all-in-one software solution, please consider joining us for an upcoming webinar. Please click here for more details and to register.