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Mystery Motorists Check Dealer Compliance
Following recent press coverage of the unethical practices of Finance and Insurance (F&I) managers in the automotive sector, Maritz Research is helping vehicle dealers to improve their compliance assessment using a new mystery shopping program.
Virtual Customers for Automotive Retail sends shoppers prepped for an in-depth check on sales and service operations, and qualified for credit approval on a new vehicle purchase. Shoppers are trained to recognize and understand the key forms and documents of a vehicle purchase transaction, including different versions of F&I product 'menus', and can precisely identify if correct disclosure and compliance requirements are being followed. Reassuringly for clients, they also sign legally binding non-disclosure agreements.
The program also facilitates rapid action when problems are identified - the 'hot alert' protocol notifies management of shopper findings that may require immediate attention before they are repeated during a vehicle purchase with a 'real' customer.
David Greene, Director of Automotive Retail Strategy at Maritz Research, says the approach gives dealers 'documented knowledge of F&I productivity and compliance... proof positive of their adherence to NADA's code of ethics'. It also provides an Operational Integrity Report that analyzes data from four key areas: administrative/procedural compliance, disclosure compliance, F&I sales effectiveness, and F&I sales efficiency. 'There is no substitute' adds Greene 'for putting boots on the ground'.
Maritz Research, whose parent is currently in the news for selling TRBI to Synovate ( www.mrweb.com/drno/news2895.htm ), offers a range of strategic and tactical solutions concentrating primarily in the automotive, financial services, hospitality, telecommunications, workplace and technology industries. More information is available at www.maritz.com
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