EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced the debut of its modular Training Subscription Service that, when piloted during the pandemic, resulted in an 18 percent lift in profit per unit sold (PRU) for clients post-training. For more information visit: https://bit.ly/2Tf9TPL
With a subscription service bringing both together from a formal training strategy and pricing standpoint, we see yet another opportunity to accelerate our success and increase our performance standards due to EFG’s partnership.
EFG’s subscription-based training model includes both digital and in-person options, delivering timely tools in a learning environment that works best for each employee. The service also supports the new digital retailing model many automotive and powersports retail dealers are rolling out.
When the pandemic forced dealers to pivot their sales model for both in-person and online sales, EFG was ready. Aside from the company’s award-winning in-person classroom training, EFG had invested heavily in building its media-rich digital training platform. This foresight allowed EFG’s trainers to continue driving dealer success through live, on-demand training. Additionally, students were provided with an in-depth library of training articles, videos, and podcasts on topics ranging from compliance and overcoming objections, to adjusting to the “new norm.”
“Our 1-year training subscription model is designed to provide dealers with a defined cadence, resulting in significant performance improvements,” said Eric Fifield, Chief Revenue Officer, EFG Companies. “In March 2021 alone, the automotive industry saw a significant rebound in sales. However, our partners who are taking advantage of EFG’s Training Services saw 30 percent higher performance increases over clients not utilizing our training.”
“We have used EFG’s in-classroom training for decades, and over the last few years began taking advantage of the company’s digital platform,” said George Vasquez, the General Sales Manager with Moritz Kia Fort Worth. “Now, with a subscription service bringing both together from a formal training strategy and pricing standpoint, we see yet another opportunity to accelerate our success and increase our performance standards due to EFG’s partnership.”
EFG’s Training Subscription Service is available through a combination of in-person classes, virtual distance learning, virtual breakout sessions, virtual coaching, as well as 24/7 access to EFG’s online L.O.V.E. training portal. Dealer management can select their preferred subscription package across a wide variety of curriculum, benefiting from up to a 20 percent discount from standard training rates.