Although you sell cars, your employees are your most valuable resource. In fact, most business experts will tell you that your employees are even more important than your customers. Besides the fact that many of them are customers themselves (either before or after you hired them), employees are directly responsible for how your customers are treated, the business operates, and whether cars sell.
Investing in your dealership’s employees is one of the highest ROI business expenditures you’ll make. Studies show companies with comprehensive training programs earn 218% higher income per employee, while 40% of employees who don’t receive adequate job training to succeed will quit within the first year. It doesn’t stop there – 66% of employees expect regular training throughout their careers to stay ahead of the market.
Turbocharge Your Business
Selling a car requires a lot of product knowledge – not only do you need to know as much as possible about every make and model on your lot, but you need to understand so much more, including:
Factory and Extended Warranties
Both the car manufacturer and your dealership offer vehicle service coverage. Everyone in the business should be able to articulate the differences.
Hazard and Gap Insurance
Standard car insurance covers a car up to its replacement value, which diminishes the second it’s driven off the lot. Gap insurance covers the difference in the value and amount owed so buyers don’t end up owing on a totaled vehicle.
Available Financing Options
A variety of car financing options are available, both on-site and at financial institutions. Your sales and F&I teams should be working to provide a seamless transition to answer any financing questions.
Modern cars are equipped with technologies like GPS, satellite radio, Android Auto, Amazon Alexa, and many even need key FOB programming. Alternative fuels, all-electric, and autonomous vehicles are adding even more options. On top of this, the internet is a vital sales avenue for car dealerships, and your employees need to know how to navigate all of these technologies to be successful.
With modern technology comes changes to car maintenance. Something as routine as changing a car’s oil requires navigating an in-dash menu to reset the counter. Forgetting this step can cause dissatisfied customers.
Train Your Staff for Better Results
It’s a lot for anybody to keep track of, and even seasoned employees can quickly fall behind if not continuously keeping up with new innovations. The options and offerings available on today’s vehicle market are seemingly unlimited, and you need a well-versed staff to communicate the features and benefits. Driving sales through knowledge and innovation is our specialty.