Outperform in Sales & F&I
It’s time to arm yourself with the strategies you need to sell and finance more boats so you can Outperform the market. With the latest tools, tactics and expert advice for sales success and customer acquisition, your team can outperform the competition. You do that by enhancing your sales processes, overcoming objections and adapting to your customer’s evolving needs. Tap into this Spotlight and attend the Dealer Week 2024 Sales and F&I Pathway Sessions to learn tactics for managing your inventory and financing more deals while also securing healthy margins in a challenging market.
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Adding Value to Your Sales Retail Extended Service Contracts (Extended Warranty)
Your dealership can offer more than just the perfect boat – you can also provide peace of mind with marine-specific extended coverage. Similar to how you guide your customers in choosing the right vessel, helping them navigate coverage options ensures a smooth ownership journey. But selecting the right partner and product is crucial. Discover insights from Jason Cochran, Vice President of Global Product Protection, on positioning your dealership for long-term success
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MRAA Data & Pulse Report
Learn how some dealerships are implementing pre-owned boat sales tactics to move inventory and satisfy the needs of their customers. The August MRAA/Bair/Soundings Trade Only Pulse Report shares dozens of responses to the question: “What strategies are you using in a challenging market to move pre-owned boats?” Dealers also shared the current top obstacles they’re facing regarding new vessel sales.
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5 Tips to Let ‘LTV’ Work for You
Understanding Loan-to-Value (LTV) is crucial in the Finance and Insurance (F&I) process, as it can help appease your customer’s needs and boost your dealership’s profitability. Elite Recreational Finance, an MRAA Education Champion, provides for you this handy infographic to help your team preserve your margins while also helping your customers grasp LTV.
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Sales & F&I Process Checklists
Fall has arrived. Winter is around the bend. With this slower autumn season upon you, now is the ideal time to tighten up your sales and F&I processes. You do this to improve efficiency and reduce costs. Use this free partner-supplied checklist from MRAA Platinum Partners AppOne and Motility Software to help improve in sales and F&I.
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Sales Rust Doesn’t Look Good on You
The goal of sales is more than selling the boat. It’s about helping your sales team be the best they can be so they can create lasting relationships with your customers and outperform the market. That’s why it’s important to help your team sharpen their skills, train together so they can shake off any bad habits or shut down any short-cuts within your sales process. Successful sales teams say they go the extra mile – taking a proactive stance – these days with customers creating personalized communications, automated email campaigns and engagement through social media. Others have focused specifically on sales training programs, which offer deeper learning opportunities, to polish their overall sales game.
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5 Tips for Successful Boat Show Financing
Discover key strategies for successful boat show financing in our latest video featuring Jared Zimlin from Elite Recreational Finance, an MRAA Education Champion. Learn how leveraging better lender programs and securing credit applications from potential customers can significantly increase your chances of closing sales and delivering more boats. Implement these expert tips to set proper expectations and boost your boat show success.
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Dealers Share Pre-Owned Boat Sales Strategies
How would you answer the following question? “What strategies are you using in a challenging market to move pre-owned boats?” Learn how other marine retailers are implementing strategies and tactics at their stores to help move pre-owned inventory in a more challenging market.
DATA
Boats Group 2024 Mid-Year Market Index
You’re aware that the current boating market is evolving and doing so with noticeable contrasts. Boats Group, an MRAA Strategic Partner, reports that while new boat sales are experiencing growth, used boat sales have declined significantly. As an owner or manager you know inventory levels, pricing trends and economic conditions have become driving changes in buyer behavior and overall market dynamics.
The 2024 Mid-Year Market Index from Boats Group offers valuable insights into these trends, providing a comprehensive analysis of boat sales by length category, geographic region, and type (power versus sail), among other key data points. Grab this data report today to help your dealership stay ahead of the curve, make informed decisions and navigate the market.
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Converting the Forever Shopper
You’ve likely encountered the long-term tire kicker—someone who loves shopping for a new boat, comparing every option, and visiting both your store and competitors. They’ve been close to signing multiple times, only to back out or lose the boat to another buyer. Learn key tactics to help your team turn these forever shoppers into loyal buyers and long-term clients for your dealership.
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5 Benefits of Installing & FOLLOWING a Sales Process
You can unite your sales team, align them with your brand’s approach and enhance customer experience at your dealership by creating and following a sales process. Implementing and refining your sales process can benefit your dealership in many ways.
EDUCATION & TRAINING
Dealer Week 2024 – Outperform in Sales & F&I!
To stand out in a crowded field, you need best practices and tools that help you acquire more customers and outperform your competition. New technologies arrive and customers’ expectations change, so it’s vital to navigate the market and lead your team through each step of the sales process. To do that, though, you must understand the potential boat buyers, overcome objections and finance more deals – all while maintaining your margins.
In tough conditions, stepping up your team’s inventory management and boosting its performance will help you differentiate yourself and magnify your profits. The Dealer Week 2024 Sales & F&I Pathway, hosted by Bob McCann, will arm you with the strategies you need to sell and finance more boats.
Check out this year’s courses:
- “Sell More Boats by Balancing Lead Response Speed & Substance” — Bob McCann
- “Drive Up Profits by Benchmarking Your F&I Performance” — Dom Zappia
- “Create Masterful Conversations that Close More Sales” — Marcus Sheridan
- “Differentiate Your Dealership to Win More Deals” — Eric Keiles
- “Master Sellchology: The Science of Anticipating & Negating Objections” — Jonathan Dawson
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The Guest Interview
Bob McCann, MRAA Lead Certification Consultant, shares the importance of properly managing the customer interview as part of your dealership sales process. Bob has discussed its value, and your sales team’s abilities to use it to their benefit, in a blog and a course on MRAATraining.com. They are outlined below.
Find Your Salesperson Superpower
Learn tactics and resources for unlocking a superpower for your sales team. That is, to listen more than you talk. Find out more about your customers’ beyond their needs/desires for a boat. Our MRAA Guest Survey will help you do just that and keep the rest of your sales force in the know, too.
Improve Sales Productivity by Focusing on the Customer Interview
Train your salespeople to improve their interviewing skills. They’ll better learn the customer’s wants and needs while building rapport. The quickest way to get proficient at a structured interview is to use role-playing to learn and get comfortable with the skill before using it with a customer.
Members ONLY:
Not a Member? Join the MRAA today.
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Four Square Closing Worksheet
Identifying the type of buyer you’re working with – cash, payments, trade-ins or price difference –can streamline your sales closing process. The Four Square Closing Worksheet is an essential tool to use to give your sales teams a clear understanding of the customer’s priorities, helping them have more effective negotiations. Use this simple resource to guide customer conversations and close deals with confidence.
EDUCATION:
Master the Sales Basics Course Package: A 5-Course Series
As a dealership owner or manager, you understand the challenges your sales team has faced over the past few years. The skills that once made your team top performers may have lost some of their edge.
With the boating market continuing to evolve, your team’s ability to outsell the competition will depend on their mastery of core sales skills – building customer relationships, gathering vital customer information, following up effectively, overcoming objections, negotiating deals, closing sales and maintaining long-term customer connections.
It’s likely your salespeople know how to do all this, but now is the time for a recharge! Give your team the opportunity to sharpen their skills and turn knowledge back into action. This training package includes five courses and helpful resources to enhance your sales efforts at your dealership.
Silver & Gold Members ONLY:
MRAA Bronze members can upgrade to gain access to courses? Email Director of Membership Sherri Cuvala.
Not an MRAA Member? Sign Up Here.
EDUCATION:
MRAA Ask the Expert: How to Get More Boat Deals Financed
with Jared Zimlin & Jimmy Delegro
Chances are, as a boat dealer, you’re facing a double whammy. Some boat buyers are less confident about making a big purchase right now, and those who are moving toward purchase are experiencing increased scrutiny from banks, which are tightening up their boat loan criteria. So, what’s a boat dealer to do? In this expert discussion, you’ll learn how to work with today’s bankers and what to do to secure boat loans for more of your prospective buyers.
Silver & Gold Members ONLY:
Not a Silver Member? Learn more about Silver Membership!
EDUCATION:
TNT: Three Strikes, and You’re NOT Out in F&I
with DJ Stringer
Let’s revisit this episode of MRAA’s Training ‘N’ Tactics team training series on F&I success. Much like baseball, there are many statistics to keep track of in your dealership’s finance and insurance business. However, unlike a batter in baseball who only get three strikes, your F&I team has the opportunity to take many swings when a customer is pitching: “No, no and no.” The number of swings they take is the difference between having a F&I Department that whiffs on most of its products and one that wins!
Silver & Gold Members ONLY:
Not a Silver Member? Learn more about Silver Membership!
EDUCATION:
Overcome Objections with Next Level Desking and Financing
with Dom Zappia / Jamison Carrier
In today’s market, customers hesitate to buy due to high interest rates, negative equity, or inflated pricing. These objections often stem from misinformation, and it’s up to your team to educate customers on their options. Gain tools to show customers how affordable their dream boat can be with national marine lender programs. This training helps disrupt the price-driven buying mindset and helps you overcome objections, build trust, and convert hesitation into sales.
Silver & Gold Members ONLY:
Not a Silver Member? Learn more about Silver Membership!
