Randy Ross, SVP, Sales

How do you define a "combo product"?

Typically, a combo product, or a bundled product, includes three or more ancillary components offered together in a single, branded package.

What types of products are you including in your combo packages today? Why?

RoadVantage offers our most popular products in a variety of combinations: tire and wheel, cosmetic wheel, dent and ding, windshield, key replacement and roadside assistance. We also offer options with chrome and chrome clad coverages, and interior protection. We’ve selected these products because they provide the best value and protection for the customer. As the number of F&I products has increased, it’s no longer smart or practical to try to pitch all of these products individually. So we’ve selected the products customers most prefer and bundled them – to reduce the risk of overwhelming the customer and to streamline the process.

What are your top reasons behind offering combo products? What, if any, reasons would you have to not offer them?

RoadVantage’s line of bundled products are very popular among dealers for several reasons:

  • They offer a better value proposition for F&I.
  • They streamline the presentation process: it’s simplified, it’s quicker, it’s more successful.
  • They require one single form, vs. several forms, reducing administration costs.
  • They result in better penetrations. Dealers are reporting as much as 40-50% penetration with bundles.

Resistance to offering bundles is typically due to one of two things: the wrong product combination, or concern over state regulations. Bundles are most successful when they include the right products at the right price point. This is why RoadVantage offers a variety of customized bundled combinations to meet every need.

In addition, it’s imperative that F&I providers thoroughly understand and meet state regulations and assure compliance on every product included in a bundle. RoadVantage products have been approved by state regulators in all “File & Approve” states. We’ve completed a thorough review of every state’s requirements to assure compliance for our products.

Is the sales process for a combo product different than for an individual product? Can you give an example?

The successful sales process for bundled products employs a streamlined approach. Presentation is easier, and the value proposition is stronger. Providing the benefits of the bundled products’ coverages in a single presentation, along with a price or payment, is better than going through each option of several stand-alone items, one by one. This approach reduces presentation time, speeds up menu selling, is easier for the customer to digest and reduces the number of decisions the customer has to make.

Do you believe the combo product strategy will evolve in the future? What types of product combos do you anticipate in the next 2-5 years?

Bundled products will continue to gain traction with dealership finance departments as they see the benefits, including the reduced time to present, the increased penetrations and the greater overall gross profit. The type of robust packages offered by RoadVantage will become more commonplace. As an innovator, RoadVantage is continually developing new products and bundles that benefit our agents, dealers and their customers.

Is there anything else you would like to add?

Over the last few years, dealers have shown increasing interest in bundles as they’ve realized the value they bring. But as the industry evolves toward more robust F&I packages, strong customer service and efficient claims adjudication becomes crucial. RoadVantage has recognized this, providing specialized training, online and self-service tools to improve the speed and quality of the filing process.

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