What do Ronald Reagan, Walt Disney, Zig Ziglar and Steve Jobs have in common? They all knew the value of a great story and the one secret that makes it so powerful.
Statistics can add to the conversation; however, a great story displays the struggle between expectation and reality.
We are challenged every day to become more effective in helping our customers see the value in our products. There are two ways to do that. Facts and statistics can be employed to “prove” that what we are saying is true. However, only 5% of customers remember statistics after a presentation while 63% remember stories (Made to Stick —Chip and Dan Heath). The most powerful way to F&I compel a customer to act is to tell a short, concise and story that impacts them personally.
The secret of story selling is it unites an idea with an emotion, and that is powerful! Statistics can add to the conversation; however, a great story displays the struggle between expectation and reality. No one expects their car to have a problem. However, the reality is it will at some point and the cost can be a surprise they are not prepared for. That’s why a Vehicle Service Contract is critical. Use a current repair order and share the story behind it with your customers. Even better, obtain a part from your Service Department that was replaced recently and share the story the customer lived first hand and what it cost the customer. That’s a story worth telling!
If you can couple your passion for your product and the principles of a well-told story, your customers will embrace your products and see why they are important for them to buy. Your dealership is filled with stories of problems customers have encountered during their ownership experience and the effect it had on them emotionally and financially. Seek out these stories and then share them to move more customers to buy.
I look forward to seeing you on my next post! Check out our services page to learn more about how we can help you help more customers. Also feel free to contact me. Exchanging ideas with F&I Professionals is my passion!