January 7, 2011
Core Products Get You to That 2+ Product Index
Trucks, SUVs and midsize cars all saw nice sales gains in 2010. However, with gas prices always being in flux, it's hard to know which segments to target. And, while it's always best to customize product offerings to the customers and the vehicles they are purchasing, a solid starting point can help you bring it all together.
Having a group of core products can help get you to that 2.0+ product index. Vehicle Service Contracts, GAP, Tire & Wheel and Theft, the industry's "core products," are products that most customers will find great value in with the right presentation.
Sometimes, the best approach can be to sell more ancillary products instead of going for one or two high-margin products. It's important to consider what other products are "core products" to your customers — maybe Lease Wear & Tear in a high-end store ... or Paintless Dent Repair or Windshield in combination with Tire & Wheel for customers who respond to the bundled approach.
Start with a solid menu presentation based on your core products, have your word tracks down cold and be prepared for any possible objections. You will bring more value to your customers and might even see less charge backs and more customers back in your dealership.