Menu selling is changing the way aftermarket products are sold. Like any tool, it’s important to understand the best way to use it in order to reap the benefits.
Enrolling in a menu-selling course is key to learning the strategies that will result in a personalized, successful selling experience for both the customer and the Financial Services Manager (FSM).
This will support FSMs in learning a strategy to present a tailor-made protection solution that matches the customers driving preferences and lifestyle. By building on a consultative selling approach, FSMs can understand the specific needs of their customers and in a short timeframe present a customized set of products for the customer to choose from.
THE TOP FIVE BENEFITS OF A MENU SELLING COURSE
1. Learn how to present multiple products in a limited amount of time
Menu selling is a simple solution to presenting multiple products in one snap shot to the customer. By presenting the menu to the customer, FSMs are able to show four or five items as well as total monthly costs all at once. The easy-to-read layout helps the customer follow along and avoid confusion.
An effective menu selling course will demonstrate not only how to look for relevant indicators from the customer, but how to display the most appropriate products in a digestible way.
2. Learn how to show your customer that you’ve actively listened to his/her needs and preferences
Customers respond well to a personalized approach over a generalized sales pitch. By not only listening to the customer’s needs and preferences but applying it in a meaningful way, the customer will be at ease knowing that the FSM has their best interests in mind. For example, if the customer mentioned that they’ve been hit with unexpected repair costs in the past, the FSM could say, “You mentioned that you don’t like unexpected repair costs –Mechanical Breakdown Protection is a solution that may avoid this from happening in the future.”
3. Learn how to use the interactive tool to build discussion
Menu selling serves as a visual tool that is interactive and acts as a springboard to build discussion. By displaying the menu on the screen and turning it towards the customer, FSMs can walk them through their options. This is a great way to invite questions from the customer and to use the tool as a talking point rather than just to sell.
4. Learn how to add in smaller products that complement the priority product
The ability to combine products based on the needs and preferences of the customer is one of the many advantages of menu selling. Simply input the priority product, such as Mechanical Breakdown Protection, in all available options, and add any other product that may supplement its coverage. For example, if the customer wanted maintenance costs included in their protection product, the FSM could add Pre-Paid Maintenance to complement the coverage that comes with MBP.
5. Learn how to customize the tool to tailor options based on customer’s feedback and preferences
The flexibility of the menu selling tool gives FSMs the freedom to tailor the menu based on the customers feedback. For example, the customer might say, “I like option B but I’m resistant to this product. Why do I need this level of protection?” This gives the FSM the opportunity to walk the customer through the benefits of the “five star” over the “four star” plan. However, if the customer is still uncertain, it’s quick and easy to tailor the menu to reflect the customer’s preferred option.
An effective menu-selling course guides FSMs through the objective handling process, giving the customer the option to customize their purchase. The tool is very user-friendly and enables the FSM to go back in and change the quote at any time.
LGM’s menu-selling strategy course Driving Sales through Menu Selling, is launching on March 5! This course focuses on the strategy behind using a menu-selling tool and an overall improved customer experience by supporting a non-confrontational, relaxed and personalized Financial Services Office experience.
Contact your LGM Dealer Development Manager for more information on upcoming sessions.
Want to learn more? Don’t miss Heather Weber, LGM’s Regional Trainer, at BMO’s 8th Annual Automotive Sales and Financial Services Conference on Friday, March 9 in Niagara Falls, Ontario.