Sym-Tech Dealer Services launched a 20% Performance Guarantee Ad campaign for new dealers this fall to help them boost F&I profits in their stores.
“Our 20% Performance Guarantee Ad is our commitment to new dealers that by embracing Sym-Tech’s F&I Performance Solution, we will increase dealership F&I profitability by 20 per cent, at least!” said Derek Sloan, Executive Vice President of Sym-Tech Dealer Services, who adds that dealers have nothing to lose with the new campaign.
“If Sym-Tech doesn’t increase their F&I profitability by at least 20 per cent within 90 days compared to the prior 12 months’ average, we will pay the difference to the dealership,” said Sloan.
He said one of the biggest challenges that dealerships face today within the F&I sphere is customer dissatisfaction with the process. However, Sloan also said that dealers are finding alternative ways to present this to customers in an effort to improve the F&I experience.
But there are other challenges that still need to be tackled, including the amount of time the F&I process takes, a lack of interest on the part of customers to be sold anything additional, and the overall need to overhaul the traditional F&I process, which is not very customer-centric.
When asked what the company is doing to improve the situation, Sloan said Sym-Tech’s proprietary software (DAVE®) enables dealership employees to follow “a consistent and non-confrontational” F&I menu presentation process, which is meant to offer full disclosure and transparency to the customer.
Sloan has previously mentioned the need for today’s customers to understand what it is they are purchasing, and to research it ahead of time. He has also mentioned a key trend in F&I, which is menu technology — or presentation technology. This is in part about offering better technology solutions to customers, and also as a way to make the process more customer-centric, allowing them to make option to make choices.
“Sym-Tech works with dealerships to adopt our customer-centric approach, which is faster, efficient and adheres to more about the customer and their true needs,” said Sloan. The company’s training “is designed to teach dealership personnel how to use our F&I Performance Solution to increase customer satisfaction and offer customers options that meet their individual needs.”
