Show notes
In this episode of the KPI Cafe, Laurie Foster of Foster Strategies Group challenges the status quo to dealerships' sales process. With compressed margins, increased competition from new players like Carvana, and the fluctuating circumstances of the economy, it's more important than ever that your process gives you more at-bats with every opportunity. Part of that means activating your finance managers earlier in the process because you know that in-market car shoppers have questions regarding financing and leasing; part of that means thinking about your Business Development Center as more than a call center. Laurie also gives insights about how to get buy-in from your team with these fundamental questions, as well as some tips about compensation for the new duties assigned. In the end, it's all about alignment.Here's what you can expect: 3:22 Laurie’s Automotive Origin StoryFurniture SalesProjected Growth Path in AutomotivePossibilities4:45 Foster Strategies GroupLeadershipServing OthersMaximize Management PotentialVendor Partnerships6:37 Context for the EpisodeInventoryMargin CompressionIssues7:03 Activating Your F&IRole Redefinition and ClarificationCurrent Process and Its IssuesA Fresh Approach16:40 Good Customer Experience. Better ResultsCustomer IntentFrictionDollars and “Sense”PVRLess TimeProduct Penetration and Revenue Projections21:18 Getting Buy-InKnow Your AudienceMeasurement24:00 Training for ComfortabilityRoleplayPriming the Customer25:26 Managing Other Staff ConcernsGetting the Help WantedGreater Communication27:53 What Does the Whole Process Look LikeForward MomentumBDC Statistics29:40 Optimal BDCBreak It DownCurrent Role / Responsibility31:41 Alignment on Shifts in RolesTop-ThroughCohesionTap the Brakes33:51 Perception vs. Reality35:43 Customer-Centric. Dealer-Centric.Good Experience Across TouchpointsDealership Customer37:17 Better TogetherMore OpportunitiesMarket StatisticsThe Right Principles38:45 Breaking Down the SilosValue and ElevationBusiness. Development. Center.Football Analogy44:06 The Hiring ProcessChange Our Words46:01 What’s Coming Up with Laurie
