17 Dec The Gen Z Buyer…Tips to Connect and Sell to a Unique Generation
Much has been made of selling to Millennial car buyers in the F&I office. Hundreds of articles and blogs analyze the most effective ways to engage and sell to them. But many in the industry could be ignoring one of the bigger and soon-to-be influential groups of car buyers coming into the market now…Gen Z.
Who is Gen Z?
This demographic is widely described as people born between 1995 – 2015. The top end of this group is just now becoming car buyers. They are shopping for a car for the first time and will have their first early experiences with the F&I department. This is all new for them and dealerships (and F&I) have to be ready.
Everything about how they view the process of buying a car will be different than their Millennial counterparts. Studies even show that many in this generation don’t really think car ownership is a priority. Remember, many in this group would rather Uber than bother with driving. Tough crowd, indeed.
F&I Strategies to Connect & Sell to Gen Z Buyers…
Here are a few tips on how your F&I department can make a stronger and more profitable connection to your Gen Z buyers…
- Better Be On Social: Consider adding explainer videos to your website or the dealership YouTube channel. Gen Z buyers are heavy viewers of YouTube. Studies have shown up to 32% of their buying decisions are influences by videos. Give them content that explains some of the common F&I products you offer and how they could be of value.
- It’s All About Touchscreens: Most F&I departments should already have touchscreen technologies available for easy and engaging menu selling but in case yours does not, consider switching soon. Gen Z buyers want an interactive experience when making a buying decision. The paper menus and scripted speeches about why tire & wheel is important won’t resonate with this buyer.
- All Digital F&I Experience: This may be a taboo subject among some F&I managers but there are stores that are leveraging an all-digital F&I experience and buyers love it.
Gen Z buyers would rather not stray too far from home if they can help it and if they can have everything handled before they come in, that may be optimal, especially with COVID-19 still here.