Want to increase your F&I profit immediately? Want to shorten the process and improve penetration? Read on!
Studies have shown that customers prefer the menu selling approach when buying F&I, and in most cases, purchase more as a result. Using Op2ma’s F&I Menu will help your business managers help you increase F&I profits significantly.
Easy-to-use and amazingly simple.
Whether as a standalone tool or integrated with Finance Accelerator™, Op2ma’s F&I Menu Selling tool is simple and easy to use, especially when you are presenting multiple products to your customers. You can switch products, alter pricing or even modify the payment structure instantly without fiddling with cumbersome spreadsheets and formulas. And you never have to enter and re-enter the purchase details into multiple systems offered by different providers.
DOWNLOAD comparison chart between the manual system and ours.
What is Menu Selling?
So Menu Selling is just a…Menu?Yes and more. Menu Selling is ultimately a decision making tool rather than a selling tool; it allows the Business Manager to present the options in a way that makes the customer comfortable by offering a suite of choices. The Business Manager offers all available options and the customer decides; nothing is hidden from the customer. When used in this manner, it builds trust while helping the Business Manager achieves his or her sales objectives without taking a hard-sell approach.
Benefits of Menu SellingMenu Selling is not the latest sales technique or F&I fad; it is simply good business practice. By being open and transparent in offering all your F&I products, menu selling will help you gain customer trusts. It also, inevitably, increases profitability.
While it might seem incredibly simple, it works because when you use a menu to present all your products to all your customers all the time, there is a greater chance that each of these customers will find what they need (or want) with significantly less resistance. It creates transparency and involves the customer in the decision making process; the Business Manager is not seen as “trying to sell” but merely helping the customer make informed decisions; he or she is not sitting opposite the table trying to pitch a deal but next to the customer, helping to arrive at the best decision.
So the F&I Menu helps the customer decide, which leads to the second benefit…
It Builds Trusts
Op2ma’s F&I Menu allows Business Managers to configure different packages according to what the customer wants. Prices and payment options are displayed immediately, and the customer is able to pick and unpick options and make comparisons. Customers are not caught by surprise when the quote is generated and visually see how the prices are computed right before them. They know full well what they will be getting from the negotiation. This leads to the third benefit…
It helps ensure complianceIt is a legal requirement for Business Managers (and dealerships) to offer all available F&I products to all customers. This ensures that customers are not offered just the products that are most profitable to the dealership or are easier to sell, but will have the benefit of choosing from all products available. Therefore, dealerships and F&I professionals need to keep evidence that they have done their due diligence when offering these F&I products to their customers.
The advantage of this requirement is the opportunity to be transparent and honest with the customer. If you have a good mix of products to offer, the F&I Menu will help you present these to your customers in the most effective manner.
Op2ma’s Menu Selling
Easy to use
A menu is essentially a tool, and like all tools, it is designed to help the user do a better job. Our Menu Selling is designed to help improve the efficiency of the F&I Manager while doing all that a good menu is supposed to. It is intuitive to use and easy to learn. It is designed to eliminate (or at least minimize) double handling of customer purchase information by integrating with Op2ma Finance Accelerator™ – our proprietary F&I Management system. The idea is that the F&I Manager should focus on the customer instead of fiddling with the software and spreadsheets.
Developed for the Australian F&I Market
There are currently no F&I Menu systems developed for the Australia market. Most are American, which means you have to set up the currencies & formats to ensure that calculations and formulas conform to Australian F&I standards. You need to adjust to a U.S. sales process and somehow twist it to work for you. It other words, you need to constantly tweak it to suit your business needs. Op2ma’s F&I Menu is designed for Australia; it is built for YOU and your business so you can really work on improving the business instead of the tools of the business.
From our experience working with Dealerships and Financiers, when the F&I Menu is implemented with training, the results and buy-in increases significantly. The Business Manager is not left to figure out what to do with the Menu but starts with strong conviction that it will help him or her make more money. While most Business Managers may be familiar with menu selling as an imported fad, most were surprised at how efficient Op2ma’s F&I Menu is. The training aligns the science of Menu Selling to the functions and features of our F&I Menu system.