Timing is Everything E by:Dan Mason very day in our industry we are bombarded with the word…process. Unfortunately, most of the time it is flung around meaninglessly or thoughtlessly. The problem with that mentality is that processes should be the backbone of what we do every day. If we want to produce consistent results, we must follow a process. And I have two thoughts on process. First, any process, when followed 100% of the time without fail is infinitely more successful than none at all. Second, and this is one of my personal creeds, Processes don’t fail…..people do. Now what does any of this have to do with timing is everything? Great question. The answer is simple. Knowing the proper time to implement the stages of the process is absolutely critical. Timing is everything. Let’s take a deeper look. Let’s start with the deal itself. When would be the best time for a finance manager to know the details of the deal being worked on? After everything has been agreed to? At terms, rates, and advances that don’t work? Or during the negotiations, being involved with the desk to help structure the deal properly from the start? We know how the first scenario is going to play out don’t we? We know the finance manager is going to be bent out of shape, the salesperson is going to get aggravated, and worst of all, the customer is going to suffer. We all say “well DUH!!!” However, this happens in dealerships around the country EVERY SINGLE DAY! Timing is everything. Now, let us look at what the process is for after the deal is written up. The deal is handed to the finance manager and the finance manager will then do one of two things. In the first scenario, they will take the deal to their office, dissect the deal, load the deal, call in the deal and start to build their menu. All this happens while the customer sits idly at the customer's desk or even worse, in the chairs right outside the finance office. In the second scenario, the finance manager gets the deal and immediately goes to visit with the guest. They should be setting the expectations of what is going to happen next and reset the clock. This puts the customer at ease, and they now know exactly what the finance manager is doing. When the customer sits idly in the first scenario they grow anxious and aggravated. They believe that there is no respect for them and their time and every minute they wait feels like an eternity. In the second scenario, the customer is at ease, understands what is happening, and is excited about finalizing their purchase. One of these is much more profitable than the other. Again, timing is everything. Lastly, let’s look at the process of presenting products in the office. There are many different schools of thought on when this should occur. The first scenario is that as soon as the customer enters the office, we verify the customer info and immediately pull out a menu and go into our presentation. The second scenario is that we verify customer info and use that time to create a dialogue with our customers, and spend just a few minutes to get to know them while printing out all the basic paperwork. We then have them sign the basics and then we go into our product presentations. In the first scenario, this is very much a business transaction as we have not spent the time to build a relationship and get to know each other as human beings. It becomes all about dollars and cents and very transactional. In the second scenario, we are building trust and a relationship based on mutual respect because we take just a little time to get to know who our customer is and what is actually important to them. By putting our product presentation towards the end of our time together instead of the beginning, we have now EARNED the right to ask for all the money and built the value in not only the products but ourselves AND the dealership. Once again, TIMING is EVERYTHING. Dan Mason is the Asst VP National Sales Director for Principal Warranty Corp. 4
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