Although the warranty sales of used car dealers can provide benefits, the majority do not spend enough time to experience real success. It is necessary to spend time auditing the process to make necessary improvements in areas that need it. Being aware of the common mistakes dealerships make in terms of dealer warranties can help you streamline your processes. These mistakes include the following:
Failing to Accept the Need for Changes
There are always changes in terms of warranty options. There will be new companies emerging and established businesses always change their options. To ensure you know about industry changes and which of them you need to embrace, take time talking with your representatives and do your homework.
You need to understand the services offered, their limitations and possible profitability. Such information will help you in presenting packages to your customers. Having the confidence in your offerings makes it a lot easier for you to convenience clients.
Giving your Customers a Headache with your Choices
It is important to decide which to offer to consumers. Although customers like options, avoid giving them too many options can leave them prone to getting overwhelmed. The best thing to do is to have a menu of services. Customers will appreciate a business that is well-prepared for information they need. Also, your sales team can benefit from this readiness. Customer relationship management (CRM) tools can help you manage your customer base in the most efficient way. Get automotive CRM software from a reputable company and handling customer issues and queries will never be a problem again.
Compliance mistakes can seriously impact your dealership. A simple mistake can cost thousands of money in penalties and fines and the distractions involved can cause you to lose sight of where your money goes. In terms of warranty compliance, consider the following:
- Company requirements. Ensure you have all contact numbers and current forms. Do not mix new forms with old ones to avoid confusion. Indeed, it might be best to get rid of the old ones
- Contracts. Every contract that sells and doesn’t must be monitored. This can help you avoid selling something that nobody is interested in, especially if you are not getting enough returns on your investment.
- Forms. Forms must be filled out correctly to ensure the process to follow will go smoothly. Messy forms can drive businesses and insurance providers crazy.