In April we discussed “T.M.I”, (or too much information). Knowing your VSC product will allow you to match the features of the CU Certified VSC to your members’ needs. However, it’s possible to “oversell” and confuse your member with too much information. You can tell if you’re giving too much information and your member is losing interest when they don’t ask questions and/or they start objecting. When purchasing a high price product, such as a vehicle, most members have a monthly payment budget; however, they will exceed their monthly budget and pay more if they understand how a VSC will benefit them. Successful VSC salespeople talk in terms of benefits. Three primary benefits, for all members, will save them time, save them money and provide convenience. Example of Saving Time: • Substitute Transportation. When their vehicle is in for a covered repair, the substitute transportation feature may allow them to go about their busy day and not miss work and/or appointments or asking others for a ride. What are you selling? (1) No disruption in their lives (or others) and (2) Not wasting time sitting in a repair facility while their vehicle is being repaired. NOTE: This feature may also Save them Money. Example of Saving Money: • Low/No Deductible. When their vehicle is in for a covered repair, the low/no deductible feature may allow them to keep more money in their pocket for other needs. What are you selling? (1) They have no out-of-pocket expense since the diagnostic and (if necessary) the repair is paid and (2) They can keep the money in their pocket for other needs and not spend it on an auto repair. Example of Convenience: • Any licensed repair facility. They may use a licensed repair facility close to home and one they trust. If they are out of town, they may use the nearest licensed repair facility (to the breakdown) and the covered repair is paid directly to the repair facility (less the deductible). What are you selling? (1) Convenience of having the repair close to home with a facility they have a relationship with or near their breakdown site and (2) Payment made directly to repair facility. When you make benefits more personal for your member, a VSC will become more valuable. Remember to express benefits in terms of saving time, money and convenience. This will help your member identify with the product and allow them to justify a higher payment. VSC/For Internal Training Use Only Download PDF version here
