Welcome out of the other world I’m doing Nicolini along with Richie Bell: oh you’re, a hosts of auto dealer news.
Today’s guest is no newcomer to Richie and, of course, has been on the show, with great reviews.
Rebecca Chernykh got her hands on skills and experience, starting sign by sign in her dad’s dealership, she’s, extremely strong in almost every aspect of automotive sales and, of course, her special focus lies in F & I.
Now she can help dealers with how to hire train whose profits and best views menu, selling, now she’s single-handedly earned a sterling reputation for adding millions of dollars to the bottom line for all of her accounts as a consultant trainer and nationally recognized expert in MI training And sales procedures Rebecca, has helped hundreds of automotive car dealers throughout the United States and Canada, streamline their processes and closing techniques and significantly increase profits.
So that’s what we’re going to spend more time today here talking about, so let’s welcome back we’re back up to the show, thanks for joining us via Skype.
Thank you for having me it’s a it’s.
Definitely a pleasure to be here with you guys today.
Well, I got to say I walked in today about an hour or so ago, and the two of you are already rolling and I hope we all roll again, because the conversation was was pretty good.
So, let’s start off by getting right into F & I and, of course, how it’s changing today, so Becky, let me ask you your workshops coming up and I’m really really happy about it.
We got some audience on it and let me ask you a question: what what I’m really calling deals and recommending them, as I call them as automotive dealer news.
Richie Bell: oh right, a little workshop in their local area and one of the reasons that I’m doing that Becky is because I see so much value in what you’re doing now.
Now, let’s take a step back for a minute.
Okay, dealerships are always concentrating on the car sales right on the internet.
They’ve done a tremendous job is one of probably the few industries that truly done a great job, but on the other side, what I’m talking about is F &.
I we know by analytics that the cash deals are grown and the finance is dropping and the lease penetration is growing national right.
So this workshop that you have, could you give us a little brief? What we’re gon na be talking about at this workshop? Well, you hit on a lot of points that make absolute sense.
I mean when I’m going into dealerships.
Frankly, we are seeing a lot more cash transactions and, in fact, customers coming into the dealership with a check made out for the exact amount.
And frankly, you know: where is this all coming from? How is this all changing the way that you know a lot of dealers used to be a lot more captive in their financing and we’re losing touch with that, because there’s so many other avenues for customers to be able to obtain their financing, whether it be through The credit union, or even other online retailer providers, and these disruptors frankly they’re not going away and they are allowing the customer to not only shop like you said online for a new vehicle for a pre-owned vehicle, especially as well as doing allowing that customer.
To do some of that heavy lifting to be able to obtain approval online in the comfort of their own home or their office, and and or obtaining that financing without having to step foot in the dealership and so likely customer guess what is coming into the dealership.
They may still purchase the vehicle at the dealership, but let’s face it, they’re coming into the dealership, with a check made out for the exact amount.
So what this workshop is about is understanding that online customer what’s happening in our in the marketplace when it comes to engaging with that customer earlier on, especially when it comes to to finance and insurance.
Richie you’ll have been in the automotive industry for a very long time as well, and you also know Evan.
I well, and we have you know for years, agents go into this dealership and they tell F & I people whatever you do.
Don’t talk specifics until the customer makes their way into the dealership talk to the customer.
You know when they get into that F & I office.
Well, frankly, that’s gon na be too late, because we have these disruptors that are willing to talk to the customer, provide customers with this information, and I’m talking financing information specifics well before that customer makes their way into the dealership couple things I want to point out.
I know you’ve worked with poke, you get the data probably far better than I do, but here’s one thing I do know: over 220 million people are shopping online every day in this country and they shop, maybe seven different dealership websites before they make a decision to Buy and frankly, that dealer does not have the capability for that customer and also to shop financing our customers going elsewhere.
They have the capability of shopping and self desking and providing and getting some of that information and doing their fact-finding before they come into the dealership.
So, where does that? Where does it leave the dealer? So I think it’s.
The part of this workshop is to be o’them on it to understanding how things are changing and how important it is to get that F & I person up front on engaging that customer earlier in the process.
Richie, that’s that’s! That’s just part of it! Well, what I really got ta say is: let’s go back to 92 way before the song line thing came.
Everybody got scared of consumer reports now, at the time I was a general sales manager at route 23 right, so I did was I had old.
My whole sales department, pickup consumer reports, everybody says no, we don’t want to have it.
I said put on top of your desk.
My closing ratio went out why? Because it gave you 10 tips, and I said you know mr.
Johnson says about destination right.
I give you a price and then I charge with the and it’s it said all that back then right.
So you take the information to maximize your opportunities right.
It’s an objection, consumed.
I got ta go and look up consumer reports.
Oh no mister here is the book.
Every salesman in their desk had Consumer Reports because I was in an area where that’s what the problem was right, so you deal with it.
So we went to the internet sales right, but we haven’t made the turn in F and I at all or in the parts department, at all we’re losing to fix it yourself, customers, right.
I got all these websites of the ownership.
Nobody has their their finance thing.
Nobody has any menus there.
Nobody has anything, don’t be scared, because informational selling is a process and then knowledge selling is another process.
That’s why we went from sales people to sales consulting because it’s much easier to consult people than to sell them right.
Oh absolutely right and it’s so much easier to do that.
So now we got a make a turn on the F and I process with the online because that’s where it’s headed so and here’s what you’re saying if you have something that you, our competitor, has an edge on you you’re done so when people go and see Abc Motors handles me better when I ask the questions about F and I oh I sent or whatever it’s more online friendly guess what you’re gon na lose that opportunity.
If you don’t change, that’s what’s going to happen.
You know four years ago, when we first and I’m talking years back and when I got in to this subprime.
This is back and I’m trying to think what year with 1994 – maybe I don’t know 1993 and dealers were saying subprime – doesn’t exist, we you know, and you know the thing was that I found that if we got to that customer earlier on in the process and That still happens today, if we’re able to engage with that customer earlier in the process before that, customer is likely put on the wrong car.
Imagine the less hassle the less grief, the less having to drag the customer through the mud, to put the customer on a different car to put them on another car, and then you not make any profit.
You know how frustrating how miserable, and then we talked about some of this compliance piece and why that gets also dragged in the mud because salespeople as you well know.
They have that sense of urgency.
We got to put this car deal together, but meanwhile we can’t, because we’ve got the customer on the wrong car.
They can’t likely fit we’re get approved in so now we’re power booking now we’re inflating income.
We shouldn’t be doing, and it just creates.
I mean it just creates a very bad situation, so as opposed to doing things like what we did in the past, wait to the customer comes into the dealership, putting them on a car to take them off the car to make them.
I guess fall in love with the car was the whole idea behind it and then from there you know we can teach them the facts of life because, as we know, and so the saying was with subprime customers they’ll take whatever that we give them well.
Those days are over they’re, not those customers are going elsewhere, they’re going to carve on us.
They are and well obtain their own financing before they ever walk into a dealership, because, frankly, they don’t want to get messed with.
So if dealers were proactive, the first thing that they’d want to be able to do is especially put information.
Like you said it’s information age and allowed that customer reduce some of the self desking heavy lifting before they were make their way, create that warm lead and give them the capability to do some of the self desking online.
So when the customers in the dealership, how cool is that we’ve met customer expectation and then the likelihood of being able, as you said, to utilize our menus to be able to upsell these products and maximize profits.
But yet you know we still are so stuck in this old way of doing business.
You know we dumped isness like this for years and we’ve been very successful.
Well, yes, you have been very successful and maybe you know it’s a good thing.
That’s a bad thing and now, with baby volume, not being where it used to be, I mean, frankly, what’s easy to take orders, but guess what? Because of that we fall sir skill set now it’s today we have to roll up our sleeves and get back to work and we in the in the marketplace is changing.
Amazon is here, do you know many people said in the past that Amazon was not going to be successful, correct, look at it.
I mean that is a machine, a real show, I’m sorry a real machine.
That’s a bet machine into taken right now: they’re selling a lot of parts online.
You know and that’s why these dealers got to really get used to this and you know baby the other thing you said, which I’m glad you brought that up just because you’re successful.
Let’s say you are very successful: the real professional groups that – and you know them they’re out there – they always have room for improvement.
Just because you are successful doesn’t mean you can do more right and when you sit down with you know, within a Lithia or donation and all that and you sit with them, one-on-one, that’s what they promote.
Yes, our bottom lines, good our stuffs good, but that doesn’t mean we can’t be more successful right.
So there’s always growth an opportunity, the stores that go on the spiral down and they’re not consistent.
They have five years great and two years.
Bad is because they feel that they’re successful already and they don’t need it anymore.
Well, guess what just because you’re making it doesn’t mean you can’t do better.
You can always do better, no matter where you’re at and that’s the one thing that we as professionals tell our dealers right sure, because they need to be more successful.
I know plenty of dealerships that are great enough and I, but just because you’re, great and F & I and you’re you’re selling good.
How many I look at how many deals could I be losing if I’m not doing online, because if I’m not online friendly, there’s a big percentage of people that are online? I just feel like again just like it goes back and I understand the the being uncomfortable with the fact of putting more specific or allowing customers a little bit more control than we did in the past, because it’s all about you know being more profitable and and The fact that you know I’m gon na put this information out front.
How am I going to control this and have them shop against me, and you know, especially in F & I there’s a lot of profit in that department, so they want to protect the Golden Goose.
Well, if you want to protect the Golden Goose, you need to understand how to engage with that customer and the importance of building that relationship earlier on in the process.
Otherwise, as you mentioned earlier, couple things are going to happen.
You don’t have access to being able to provide customers with specific information.
Customers are shopping other web sites.
It’s not the only dealership website, so imagine that the abbot of another dealership website that’s providing the customers with this personal information or providing the customer with financing terms options earlier on in the process and that that’s connecting the dots for the customer.
And if that’s getting the customer to buy into the dealership, I mean that’s where the showroom is so when we’re talking about online, we are talking about you know, there’s no more walls, we’re it’s a it’s a relationship, we’re building a relationship with that customer that happens To be via online, dealers need to figure that out and we need to be able to engage, to connect the dots, to bring to bring that relationship not only online but to also to bring it in dealership.
And you know, let’s reduces up, and I bottle that.
Can we, you know today’s customers have to spend the entire day in a dealership, buying a car for crying out loud? Absolutely, that’s talking.
Try it subprime! I’m talking, prime I’m talking everyone.
People don’t want to be all day in a dealership, buying a car and the they shouldn’t be in the dealership all day, buying a car and if they are somebody’s, the dealer needs to take a good look hard look at their practices.
Time is money.
I don’t want to have a customer, my up in our office for over an hour, that’s crazy or sitting back and let’s wait another two or three hours to see.
If we can’t get this deal approved, I mean some things happen.
I get that, but if we can go ahead and maximize some of this profit well maximize the sale engage for the customer earlier on.
We’re just be bit much better off in the long run.
So I this is something that again dealers do need to take a look at now.
I will say this: you’re you’re, absolutely correct, I’m seeing more larger automotive groups that are getting this getting this whole idea and they are creating better self desking capability on their website, and this is where you know it’s.
You know we talked about the disruptor, the disruptor being carvanha, springboard, auto clear lane, auto gravity and some of these others.
But let me tell you something: it’s just not them.
We’ve got these large automotive routes, the guys that get it they want to get every opportunity, like you, said, they’re ready to do whatever it takes to get to the next level, they’re, never sitting back there.
Never okay, they’re, always moving funny thing.
When I have a workshop, sometimes you know I’m like: where is the guy that’s in trouble? I always think it’s evident right.
We show up and they’re already running twelve fifteen hundred dollars a car and I’m like really, but that’s what they do and that’s why they do it because they’re always out there learning and wanting more.
But you know again, this is this is meant for you really to help and embrace and understand this new customer.
So that way we can somewhere cars ricci and we can be smart and we can be smarter and what we do and how we do our business.
I mean that’s, that’s really what it’s all about well at the county that I’m in what’s interesting and the county that I’m in right in the county that I’m in for each new car, that’s registered in DMV three pre-owned vehicles of registers.
If you look at the automotive numbers, okay, the new car business is off, but if you take, if you take another, look at the pre dome, it’s going up and up and up right now, that’s in the county that I’m with right now, I’m just gon na Tell you this in the pre-owned business.
They really need that help because they still feel like there’s.
I mean they still back in the old days like they don’t want to give no customer the right information.
They don’t want – and I see it all the time so in these super stores that are used cars, you got ta really give the customer the right information, because what’s gon na happen is the market is shifting right now a little bit right, because the average prices Across all, brands are up right, so people are gon na start getting more into the pre.
Oh late models right with low miles.
So now you got to really pay attention.
As a matter of fact, if you go online to Mannheim you’re able to see the numbers right and really really numbers don’t lie, but here’s what the thing is, because the market is on the spin a little bit down.
We got a set up now.
The F & I department as online based, so we can maximize all these opportunities.
I think it’s just blows me away that they, it’s tough for me, to understand a talented car person, not understanding the benefits of engaging that that customer earlier on being on 24/7, what they don’t understand, you’re right, the pre owned business – is where it’s at that’s, where These other online retailers are going.
This is where the disruptors are, and they’re banking, here’s what they’re banking on their bank on that these car dealers are asleep at the wheel and, frankly, I think some of them are.
I mean I hate to say it.
I wish it wasn’t the case, but if it were me, I mean I’d be out there 24/7, and this is where customers are up at one o’clock two o’clock in the morning today we have different shifts.
Customers, you know, have different shifts that they work so they’re.
Gon na be up at 3 o’clock in the morning shopping for a vehicle, and so meanwhile, when we have a dealership website who’s dead, who’s non-commutative is not interactive.
Who’s.
Refusing to give customers information! No big deal.
I don’t buy a car from you.
I guess I’ll.
Go over to this pre-owned other pre-owned center automotive group who’s willing to do business.
This way that I can almost complete the entire process completely online and that’s called transactional application, and maybe they can’t they.
Maybe they can complete most of the transaction completely online and certainly be able to have access to choosing any of these products.
Ancillary products service contracts online prior to coming into the dealership and what the Freak is wrong with that and then from there when the customer comes into the dealership, is express lane service customers already selected the vehicle, the vehicles already clean, ready to take delivery.
We bring the customer in and present a digital or paper menu presentation, and certainly at this point we can upsell any of the other additional products.
But it’s smooth it’s easy.
It’s it.
We we can shop, so many different Bank lender providers or this particular customer.
We have many different options that we present to our customers, so the idea is being able to get out there engage and learn how to work that process and that that’s half the battle right there.
You know I’m watching these dealers signing up on.
You know some of these self desking tools and frankly, they don’t have a process in place, even a process in place that you don’t.
If you can’t connect that same experience from online to in dealership, you can’t maximize your results.
You don’t have understanding of how all that works, so we have a disconnect.
So we have dealerships, as you all know, who are a trade different store today still and I get debated all over all the time – Becky there’s no sense they.
The dealers aren’t like that.
I said well obviously you’re not in the same dealerships I’m in, but we have a trade different store, which means because the customer, then I talk, payments into the customer makes their way into this F & I office.
So if that’s the case, that’s their culture.
That’s your process and meanwhile you’re gon na go ahead and try to do a self dusting capability online and offer the customer payments.
And meanwhile, when the customer comes in dealership, you don’t even talk payments, so there’s a huge disconnect so to make this work, it has to be online in dealership.
We have to bridge that gap and we have to create that multi-channel omni-channel experience from online in dealership and there’s a lot to be said about that to make it all work.
You know we talked years of years ago.
I was them.
I had the pleasure of working in Auto Nation and I’ll, never forget those days guys as long as I live ever ever ever and we were presenting menu for the first time in these dealerships and it was like man, I was presenting these B’s payments and I’m Like, oh, my god, how is this whole thing ever going to work and I’m presenting these products in turn? Well, first terms, upfront and then later presenting these product options completely up front in a kiosk in the middle of the showroom and talk about being completely uncomfortable.
It was new and everyone and their mother said you know Becky.
You can’t be up front and still be profitable.
That’s not going to happen.
Don’t you know that this is.
This is never gon na work and you know what at first it took me 30 days to figure it out and then all the sudden.
I realized me and this four things working people are willing to buy this way, and you know we were going at.
We were, they did not even have an F and I office to bring a customer into.
We were on the middle of a the showroom at a kiosk, presenting this paper menu to customers completely upfront, and it was very, very uncomfortable.
Well, we worked it and I owned it, but here’s what I found out over the years as we went from one store from the mega dealerships into the new car stores.
There’s a process that goes into play here.
You can’t just stick African men in the fni office and go about it.
We’re gon na profitable you’ve got to work the entire team, it’s a culture working the desk F & I working together.
It creates that seamless process one without the other, and maybe you might be very successful, but it’s working the front with the back and making that that engine transmission coming together.
That’s what makes this deal happen and that’s the same thing when we’re talking about meeting customers or online engaging earlier on in that process.
That’s what this is all about.
Well, you know Becky, I’m glad you brought that up because for an example when you, when you do this right when you, if you go back years ago, when you’re working a deal right, you you put the deal together with the customer.
The F & I guy might not want to deal or the general manager, my not one of you, so what I used to sell it to the desk and then sell it.
You sell, sell, sell right if you go to showrooms today.
That process is out the window that doesn’t happen on me all right, there’s really no engagement right, the way it used to be when F and I so then you got the older Fri guys that are really good out here and they know exactly what they’re doing, But here’s a thing everything in the car business centage and you know that right in okay, so if they’re not putting a handle on f and i they got a problem online handled, they need to do that because let me talk about the sales process.
Okay, you walk into a showroom right.
Let’s say you got three salespeople and every day they blow out to customers from the line you do that every day for six days a week right, if you put a process together now you’re maximizing, let’s say they blow out one customer because they quit qualify that Customers say you’re out of equity, your two upside down, instead of going to the manager right, you put a handle on that, so you’re controlling your sales floor, okay, here’s the other thing with F and I I know that they lose opportunities because I was, I brought A friend of ours to a local dealership and they blew that opportunity because of the way it was done right and then the the F and I guy couldn’t control it cuz he had already, and this guy was an old-timer a fan i guy he had already Lost the opportunity when the customer comes in with information, and let me talk about the module I have right.
Information selling customer gives you the information you take that information.
Instead of giving them more information, you convert it into a deal.
Let me explain to you what happens.
A customer comes into the showroom and says because you do invoice, the salesman starts.
Oh well, I don’t know I got it without even selling the car right instead of saying you know mr.
Jones, a real, simple.
I’ve never lost a deal over a competitive number.
Let’s see if you like your new car watch, let’s see if you like your new car, I just planted two seed right there, the deal.
That’s it there.
You put the customer on the demo ride and what’s the customer gon na tell you you can’t argue with you: I’ve never lost a competitive price deal.
Let’s see your new car real, simple boom, you put them on the car.
You demo him you do.
Your trial closes, you come back, you take.
The deal from A to Z idea is to make them fall in love with the car with you and the dealership, because customers come in on price, always now, that’s just how they come in okay and that’s the information.
That’s called informational selling and then you give them knowledge selling, and now you don’t have to talk yourself out of a deal like I watch.
I see these people just talk and talk themselves out of the deal.
Oh, I know you how absolutely for no reason so would your your process is really really good, because the industry needs that as much as it needs it in the parts department, because there’s no catalog online for new car dealers, dealers you’re missing the boat all right On the fixing yourself, customers, which gives you an opportunity or opportunity to get service business, you guys are missing the boat.
You guys are missing the boat and Efrain.
I because I see it every day every day and I know where the numbers are and where we’re headed.
So this workshop, you have is really really a workshop.
I highly recommend all the calls I made for them to just keep buying it.
I have a lot of follow-up call to do and I have a lot of great engagements that I made you know out nationally now right and it’s really really good.
Well, I appreciate that and you know there’s so much to this workshop.
I mean it is non-stop.
It’s two and a half days.
It is two and a half days and you know so.
We talked about some have a better understanding, what’s happening on the M & I engaging earlier with the custom self desking who the disruptors are and why and where it’s all going there, but we also talk about the importance of compliance and you know I keep seeing Articles after articles after articles about dealers getting hit slammed with deceptive practices and having a better understanding and as you said, you know, here’s the thing, I’m seeing a lot of payment packing going back on the rise again and I’m not sure whether or not this payment Packing deceptive practices is happening because a blinds eye, or if it’s just because we just don’t the training, is not there, there’s not a really good understanding as to.
Why would you menu what’s a compliant menu? What, in the reasons behind the having a base payment on the menu or not, in fact so much so yeah? I had a post on my fni today group and frankly, I had enough night person come back and say: well, you know what Becky menu selling isn’t mandatory? No you’re right, it’s not mandatory.
You know it’s not something that you legally have to do, but the reason why we do it it’s best practices to make sure that the customer understands all the terms of the sale, and that means understanding that base payment term of the sale prior to products being Presented well guess, what’s happening today in dealerships all over the country, because I’m in dealerships, I may not be in every single one of them, but I’m seeing a lot of stuff happening and due to lack of training, we don’t even have they’re not even using a Menu, you know what they use, they snap so through the products and then they use a declination menu.
When it’s all said and done, I’m like who taught you that so many paper menus are going away and in fact, even if the dealer signs up on a digital menu that doesn’t necessarily mean that they’re compliant and I think, unfortunately, a lot of dealers that are Signing up on these digital menus, you’re thinking, oh man, I’m good, I’m complying everything’s good to go problem with some of these is that you can actually crease select deselect product offerings, and so that means you’re not presenting a hundred percent of the products.
All the time.
You’re leaving money on the table, it’s happening all the time.
It’s on.
It’s incredible and I again it’s either not knowing it’s a not knowing problem or it’s.
I don’t know where this training is.
I don’t know who’s training, these people to step style and utilize, a declination menu after the fact or why we’re presenting products or not presenting products, and it’s just so low for the board, and so I I hope again with this workshop is to give them reason Whether or not we’re going to use digital menu, presentation versus paper menu presentation, the importance of being consistent in their presentations, the importance of looking at a menu for crying out loud or a digital menu.
What products you have on the menu and if u dot, selling any of the products, if you’re, not that, if there’s a value problem that you’re having with one of the products, get it off the menu? Why are we having it on the menu anyway and how to look at a menu like it’s? It’s a real estate, it’s your real estate, and so we do a better job with that and we’re gon na be a lot more consistent in that you know and here’s the other thing – and I know I’m rattling off and I apologize for that, but I feel Very passionate about this, I’m here if I’ve heard one time versus I can’t get I’ve heard several times.
Overcoming objections.
Word tracks, don’t work, I’m like really well.
What do you expect for people to use make this stuff up? So you have that deer-in-the-headlight look! Well, I don’t want this product, I don’t want that man, you know, I don’t want this.
I don’t want that.
What are you gon na say? So I don’t I’m not asking you’d be robotic.
I want you to be personable.
I want you to be able to relate to the customer and I want you to be come up with a value proposition that will help to obtain a sale.
But you got to know where you’re going.
If you don’t know where you’re going, if you don’t have a map to know where you’re going or GPS to know where you’re going, what the frequent we doing here, so what really should like, like you, have an e-learning and I have one too: what really needs Online training right: why did online training take off? You know the trainers that don’t have online training are really becoming.
You know they’re becoming history.
You know, because there’s no follow-up process, there’s no checkpoint or nothing, but what I would like to do is a module on this F and I you know on my platform or either your platform.
Maybe we can do it together right what it’s a very important process and give the dealership access to it.
You know so that way.
We can do this workshop, that you have national, because you’re just doing it enjoy.
I would like to bring it out here.
I would like it to bring it to Phoenix cuz.
Oh it’s! This is a national thing right, yeah to help you.
You know how I’ve always because you know me for years.
I always like to bring solutions to help dealerships stay in business, and I always say this and repeat it again because of what happened 208, I saw dealerships, go out of business in a certain marketplace and the local economy hurts, and also the hundred and twenty people That work in a dealership out of a job right, mm-hmm.
Now it’s getting, it was getting bad back then right so I develop.
I did a lot of training.
I didn’t even charge a lot of dealerships and all that just to help them right and a lot of them.
When I visit, we lost a lot of Ford dealerships in Long Island.
There was like crazy again one one right after another right yep.
So and that’s why dealerships I’d like to find a solution, and this F and I think, based on the numbers, we we’re professional trainers.
I mean Becky’s, a professional trainer, I’m professional trainer, and we have a lot of a lot of data where we’re headed.
So I would like to deal is to dial this number six, three one: five, seven, eight, nine! Oh one, eight and please contact me or Becky.
What is your number? Okay? Four, oh four to seven six four zero to six, and maybe we could get some input on those we can help them.
We have a lot of different solutions.
Becky certainly has great great solutions and great contacts in F and I in warranty and all this stuff, and we could really really help your dealership get to the next level.
Now, if you are at a great level, could you maximize your dealership to get to the next level? Now, let’s, let’s think about something for a minute as a business owner in the car business right sales has to do a lot, 90 % with enthusiasm.
Now? Why is that? How did I arrive at that? Okay, when you first hire a sales person, that’s green, we say he’s green and he grows in 90 days.
He basically outperforms, sometimes the top salesman of the company.
Why? Because of his enthusiasm, what creates enthusiasm learning curve right so when you’re training, your company, you’re investing in your people right, I had a deal here Richie, but if I do that he leaves somewhere else, oh good, so you want untrained people to handle your customers.
He said, oh no, I don’t want that either.
Oh okay, great! So here’s what it creates.
It’s not just about that! It’s about enthusiasm, learning, curve and then productivity comes in consistency.
You know ongoing education, that’s what it’s about, and this has been going on for the last 25 30 years in different industries and they’re, saying today that fortune 500 spent four percent of their bottom line yearly in training.
Now that says something right and let’s all learn from training.
It’s the worst thing is when you Oh No right.
That’s what you like you know.
Dealers need to really think, through God and professional dealerships that have big auto groups.
Why do they hire consultants? Not because we really know, let me tell you why it a a dealership, hires a consultant, and I was with Nicholson a while he’s a he was a good friend of mine.
You know baby, he rest in peace.
Let me tell you: I went to a store out in Houston, Texas, Charlie Thomas.
You know what he told me why he hired a consultant, not because you guys know, because you guys go from dealership to dealership to dealership and you share ideas because we learn from other dealerships.
Sometimes we can be an owner nation.
So we learn this and then we take that and we bring it all the way out to the East Coast.
So maybe all the way out to Alaska and whatever in Alaska is doing.
We bring it out here to virtu Vermont and we just move things around.
That’s why dealers like hiring us cuz if you travel five or six days a week right like I did for these companies, that’s when you really have the value right! That’s why I bother us.
They don’t hire us for any other reason that we give information like we’ll.
Do it now we’re here there so we’ll see in different processes and different operations and how in service department and sales, so that’s the benefit and that’s the value of hire and Becky right going on my elearning online.
That’s really the benefit.
How do we get the knowledge from you? Mister dealer? That’s how we get the knowledge.
You know what we know funny it’s true.
We get the knowledge from them.
We learn we learn more and when we train we create engagement, we learn as much as our students because you got really talented people there and that’s how you pick it up.
So mr.
dealer, mr.
used-car dealer get online training.
If this is way to go.
I put the link there.
I got.
I’m gon na give a great great deal for the 4th of July.
Anybody signs up.
I give them 495 for my online training, all right, every module that has to do with sales all right, and I just don’t read it from a scrip, and this is what I do, I’m a professional salesperson and proud of it.
I just didn’t say: well, let me get this content and let me read and let me study, because everybody knows how I am out there all my fouls, I’m not interested in that right.
I know it because I do it and I do it every single day of the week, I’m a professional salesperson right now when I sit in front of anybody, that’s what I do.
This is what I do for a living and I’m proud of being called the salesperson.
That makes me proud right now, absolutely with your modules right, I want to talk about how we can put deals on your modules and get them together.
How could we do that? What do we got to do? What’s the visit the URL or call, you will call me and give them some sort of sale for the 4th of July, because you know what before they even go to your event, they should get to know you more get to know your whole process.
Maybe we they can call you directly or they can call me directly and we can start with your modules just so they see what a great great trainer and great talent you have.
That’s like crazy DUP.
What you bring to the table for the automotive space.
It’s like unbelievable and I’m so glad that were good friends.
You know that’s what I’m really glad of and you’ve helped me out throughout the years.
I’ve helped you out the lobby yeah, that’s true, very, very true, and what really happens Becky is dealers need your product.
More than anything, that’s what I believe.
What are your thoughts on some fourth of July sale or something special for dealers I mean feel free.
I mean I, I feel like my continuing education through turning coal into man, Lightspeed VT, it’s a very cool platform, and I tell you why it is because it’s, unlike any others out there, it’s interactive and when you get into the oven, I you really want to Make it more interactive and it is very interactive and it’s real world one of the things that I did as you well know.
Richie is I created this workshop, this continuing education as part of this workshop and as part of what I’ve trained in the workshop, and it’s it’s good, it’s really it dives.
In deep.
I mean to all that.
You know what I need to know about eV and I what I what I need to know.
I, how does got ta, make my office right how to set up an efficient, effective finance office and what goes on behind the doors of an F in high office and then it’s how to get deals bought had it what’s advanced.
What what’s that all about – and I feel like you know – there’s not enough talk on that and you know some of us we get into this Evan I office and we don’t even know how to get a deal bought.
We don’t understand the parameters, the baking parameters, of how to get a deal approved and what that all means.
So that’s some really good information with regard to that, of course, menu presentation, overcoming objections and yeah.
I think you’re right sign-in, I’m sure we can do something.
That’s very special for the fourth get to know me.
I want you to get to know me because you know I am NOT like everybody else and when you’re in there you’re gon na feel it own it become it and then realize man.
This is this.
Is a workshop that I want to be a part of because I’m gon na tell you right now: I’ve had hundreds of workshops throughout the years and every single one of my workshops.
I mean by the time that cuz, my customer is my athonite person, but by or whoever even the dealer attends my workshops right or their genius, because sometimes they want to change their process because the process is broken, it’s not working, but you know the they understand That you know this workshop is very interactive.
They it’s real! It’s real world, I’m talking about real world stuff that really takes place to help them to maximize the spell more cars and maximize profits, but at the same time to reduce liability.
But the continuing education piece is huge.
I mean it absolutely is our love for that dealer to check me out and get on.
I have a 2 day free trial, but we can open it up a little bit more so that way they can get an idea who I am what I’m all about and certainly understand when you attend this workshop, it’s unlike any other workshop.
I am NOT an agent, I am NOT an insurance provider, it’s not going to be all about my products, it’s going to be about the dealership and their products and their process and their menu or their digital menu or their dock you pad.
So those are the things that I go after and I think that absolutely makes it completely.
I mean just amazing amazing results when they get back to the dealership and here’s the other thing when you get back to the dealership, you’re actually going to implement and make a difference – and I proud myself in that because I don’t want someone to show up at A workshop just to take one or two things back and when they tell me well, you know when I go to a workshop and I take one or two things back.
I really think that I I got a lot out of it and I’m like really well.
I want you to take a whole heck of a lot more and really go back into the dealership and really make a difference, and so many times with that tube Richie a lot of times.
I have dealers or of an eye people that say you know what we want more.
We let me get Becky in there to do an in dealership training and so that’s kind of cool too, and you know I think you know getting all the managers on the same page really is dynamic.
So it leads to all sorts of great things, but one of the things, especially the in dealership training, really helps to get all the managers on the same page we’re talking sales, sales management and epic I’m well.
I’m really glad that we connected today because there’s so much we touch base and you cleared a lot of stuff because I’ve been following up this because I love this workshop.
But you know me: I always love the idea of online and years ago before Google.
I was online a lot with a store out there and the press release is out there.
So I love anything, that’s that’s changed and that’s online because that’s where we’re headed and I’m gon na end it with this.
It’s basically like this.
We went from a lead on the phone to a lead on the internet to now engagement and leads and live on Facebook, YouTube and Instagram.
If you’re not on social media as a dealership, you might as well just close your doors right so and here’s why? I’m saying this: I’m developing a module all right, well, one of the best guys out there, which is Stan she’s done great.
A great job in the stores he’s been with this thing called ecommerce right, which is showing the individual, which is engagement on life dealers.
Listen, you got a higher this guy, I’m telling you right now.
I’ve seen the stores he’s involved in and the ROI is crazy.
Organically stop spending paid search, he gets a personality from the person, puts him on life and makes a brand, and it’s unbelievable.
Okay and that’s what’s going on in the dealerships today and that’s the same thing that you’re looking at if they don’t change, they’re gon na diminish that profit center, because what is the profit centers in a dealership used cars, new cars, F & I service and your Parts department right now they got the parts department, Lightwood fix it yourself and they got the F.
And I because I’m looking at the numbers you know you got to do is go to neither dealer Academy.
So I have to I mean the cash every two people are coming up where all this kind of cash, what are they doing? They’re refinancing their homes, they’re getting credit lines on their homes to do with this? They don’t want to deal with the process.
You got to understand and that’s what I’ve been telling this on the phone.
They don’t want to deal with the process.
That’s why they’re doing this it ain’t about nothing else.
It’s an old process, time to just tweak it a little bit.
You can still do it.
Just tweak it because you’re online people are important right now and it’s getting back bigger, bigger, bigger, bigger, bigger, I’m waiting for the new thing how to get leads.
We got phones, a website and social media.
I can’t wait for the new thing, because I know that something else new was coming out and I can’t figure it out what it’s gon na be yet, but I know it’s within the next five or six years: there’s gon na be another li-jiang and that’s.
What’s going on? Well, I tell you, the president of GM in a recent conference apps a conference in March of 2018.
He mentions that expects the industry to have more change in it over the next five years than in 50 years alone.
What does that tell you? I mean it’s amazing and it’s not you know, I’m not trying to go into a dealership and overhaul it.
You know I’m not even talking about that, but I am like you said Richie, it’s talking about.
You know just tweaking some of this stuff and and and just making sure that we have a better understanding of you know how a customer can engage and the importance of engaging with that customer on their terms.
One of the things in my posts and advertising and marketing, I’m all about coach communicating it’s called communication and it’s called communicating the customer way and it’s not about you, know waiting for that customer to come into the dealership to do EV, and I our way and If that’s what dealers are doing, and they can continue to think that hey, they can continue to wait until the customer goes into the F & I office to do it their way.
It’s just not it’s just not a smart way of doing business.
In my opinion.
Well, it’s really interesting how that workshop, you developed it, and I know you gave a lot of thought about it because everything you do.
You give a lot of thought.
You’re always a professional, and I can’t wait for that day because I know we’re gon na fill the room and I’m actually even thinking of maybe flying out there right beyond some right to see that workshop and maybe film it or something you know, because maybe we Could do something like that? So I’m really I’m looking forward, and I know I’m gon na fill up the room and it’s gon na be great, because dealers are getting they’re responding a lot to it.
So I’m really glad that you’re, the one that brought this workshop and it’s a great workshop.
It’s like a mastermind of digital F & I it’s great and you’re.
Always there in the industry, like myself for a long time, giving solutions to dealerships to help them get more profit, stay in business and keep their employee retention by doing the right thing and helping those and I’m so glad all these different solutions.
You always brought to the table, and it was a great speaking today.
Thank you.
Let me know what we got to do as as whatever and we’ll do it.
You know what I’m glad about this workshop.
Well, I’m definitely looking forward to it and I have put a lot of thought into it and I I know I’d like to think that sometimes I’m very innovative and that I’m a game changer but again I care about the dealer and I care about you know Helping them to keep and retain more customers and build that business and how to maximize, sell more cars and maximize profits and the dealers that know me and have worked with me over the years.
That’s one thing that they do know that when I get into the store and when we implement truly implement no in really take take some of the processes and practices that I recommend.
We can make a huge difference in their overall profits and that’s what it’s all about.
I try to keep dealers try to keep dealers out of trouble.
Do it the right way, and you know the other thing that we didn’t really touch on so much it chargebacks.
In line you know, I see too much again Evan I not selling really selling retaining the products and then afterwards a customer comes out of the ether and the dealer who thinks he’s running truly fifteen hundred dollars or cars like lucky.
If he’s running eight hundred dollars a car, so there’s so there’s a lot of stuff and again it’ll be a pleasure working with you on this workshop, and I really appreciate your help and support and getting the Nate and getting the word out there to dealers and Understanding what this is all about, I know that there was a little bit of confusion because they were like digital.
What are we talking about here? Becky fni digital.
What’s that all about there’s a lot of things about it.
Nobody also I’m talking frankly, and I didn’t mean to spill over on your time, but you know I’m also talking about females in the automotive industry and I’m talking about females and F & I, and we have to do a better job and you know being able To hire more females promote more females into that F & I position it’s all about being personable, it’s all about being engaging and it’s attainable, and we just have to do a better job in that and you know in creating, maybe – and I know you do work In the BTC and how we can do a better job in adding Evan, I people to the BDC and how important that is, that chain train champion.
If you will, who can be able to address those customers specific questions as it pertains to F & I as to you know, blowing those questions all off and waiting until the customer comes into the dealership to answer those specific questions and guess what by then it’s Too late, so there’s training in the beauty state.
If there’s bringing in talented of an i champions who are able to address those customers specific training and to connect those dots, how important is that? So that’s really you know this workshop, just it’s its fault.
It really is full of good content, it’s meat and potatoes, I mean and something that really you can take back to the dealership and say: okay guys.
This is what we’re going to implement.
This is what’s going to make a difference and that workshop we’re gon na.
Do more of those workshops we want to handle the first one in Georgia.
We want to develop content on your e-learning, so we can get it nationally, but then we can go to different states and have that two-day thing and then follow it up with online.
So me and Becky are gon na talk about that in the next couple of days.
Hopefully we can do that together and it’ll be great.
You know because I really like I really like this, this new thing that you’ve done and I know that it’s needed, because I look up the numbers when I started.
Looking at your workshop, I were not in reached out and looked at figures and I’m pretty tight with some warranty companies right, so I know the percentages across brands, so I called a few of my friends that that do that for a living – and they told you Yet the the cash convert there’s no cash conversion, it’s like people come and kiss.
I don’t really think that sum F and I guys know how to flip it, but I know something I know with your process and with this digital stuff.
It’s gon na really work and you’re, bringing something to the dealership.
Would that being said, Becky have an awesome weekend.
Thank you and I’ll talk to you before the fourth of July, but anyway the fourth is coming up and stay tuned for a great deal and I’m putting out on my elearning platform thanks.
Okay comment having some trouble with my phone.
That’s what I’ve been trying to tell you? That’s why I’m stealing your phone, because I know John gorilla reached out.
I have like only six comments.
They keep disappearing.
So can we just get to see my dad? Why do they keep disappearing? I don’t know.
There’s a problem, my phone – this happens all the time alright, so they got Dom watching Eric.
Okay, let’s see John guerrilla brought something up.
He want me to mention.
Transparency is key to improving your dealerships, reputation.
You will sell more cars and create many more than an alarm clock, so you will create many more opportunities and eliminate these third party people.
What do you think gorilla? Awesome, Bobby, sulie Roden says I’ll Drive your cozy cozy truck Gatorade in hand he’s a country musician.
Look at him country, music, blaring, tootsie, rolls in hands and he has taken y’all little cute names.
Isn’t that sweet? You should go to the satellite thing.
I think yeah Bob.
We should get Bobby down there for sure yeah.
We should get Bobby down in Georgia.
Okay, great, we got Nick Egan watching ten walls.
Bert sounds low, hello.
Thank you so much Carl White’s watching, usually we get to say hello, guys, sorry we haven’t.
Yet there was some more comments.
I saw Rebecca okay, sure Nick call her.
What’s what’s your number again Rebecca one more time, four, oh four, to seven, six, four zero to six and that’s not a hurricane! That’s not thunderstorm! That’s purty Bell touching his microphone for the 19th time.
Yeah! I’m sorry! That’s all! I want to reach out that girl nails are very good, closer and he’s right here.
Right now.
I hope he’s still watching Joe is watching great.
Thank you for watching so Becky.
