Unfortunately, there is no fixed formula as to what makes a car dealership successful nowadays. With trends and dynamics in the industry changing at a fast pace, old methods are simply not working, so car dealers have to come up with new strategies to ensure the bottom line isn’t hampered.
This time we’re going over the various ways in which you can make sure you’re setting your dealership up for success. From creating a genuine connection with your customers and upgrading the buying process to staying on top of your sales pipeline and team’s productivity, there’s a lot to focus on. Here are the nine most important ways to make your dealership a success.
1. Connect with customers
It is tougher than it sounds! The dealership personnel must retain customers, focus on building strong relationships with them, and ensure they come back for more. Connecting with customers can be done either virtually or in-person. It’s important to show empathy, listen to what they want, offer exceptional customer service, and incorporate a personal touch.
2. Track the sales pipeline
Using a high-quality CRM (customer relationship management) software, all information about sales and prospects can be compiled into one place – it brings transparency to the sales pipeline. Managers can check sales forecasts and track if the actual numbers match predictions. If something doesn’t add up, swift action can be taken accordingly.
3. Ensure the car buying experience is modernized
Time to go hybrid – a seamless blend of offline and online marketing to engage with customers is a must. With the aid of automotive CRM software, customers can begin their car buying journey online, and close the final deal in the facility.
4. Optimize your online presence
Since a large part of the customer journey starts online, make sure your dealership has a visible online presence. An easy-to-navigate website filled with updated information regarding vehicle makes and models, after-sales service, and so on, is necessary. The website should convince your prospects about how your dealership is different from others, and what you can do for them.
5. Sell vehicles, parts, and services online
Simply advertising your vehicles digitally won’t work any longer (as mentioned above, both online and offline are vital). You must create a multi-channel strategy to sell car parts, accessories, and manage service department appointments.
6. Come up with attractive offers
It won’t be possible to create customized offers for every vehicle that is sold. That is why you have to identify patterns in the needs and wants of every segment, in order to customize offers. Automotive CRM software can help to get better insights into the requirements of individual customer segments, so you can come up with lucrative offers.
7. Monitor employee productivity
Keep track of employee productivity, regardless of the department they are in. With features such as call recording, live monitoring, and analytics, managers can use CRM software to understand what employees are doing to increase sales. Processes can be refined to make employees more productive and contribute to the dealership’s business goals.
8. Follow-up properly
Dealerships also earn revenue from vehicle servicing, upselling, cross selling, renewing insurance policies, etc. The important aspect is to follow-up, which can be effectively achieved with CRM software. It lets you set reminders to follow up with prospects for sales calls. Processes can be refined to make employees more productive and contribute to the dealership’s business goals.
9. Understand what type of advertising is working for you
Knowing the broader demographics of your dealership’s market is necessary, but you also have to know who most of your customers are. It gives you an idea how to target them in marketing efforts. In fact, it is imperative to take a peek at the type of advertising you are involved in. Be it TV, radio, print ads, pay-per-click advertising, Facebook ads – a decent return on your investment is a must. Otherwise, you’ll find yourself sitting down and reworking your ad strategy.
These pointers will work wonders in helping your car dealership take off. Of course, investing in a good automotive CRM software is an excellent idea – it can streamline the operations of the entire dealership, and make your job a lot easier. SO make sure you do your research and implement a high-quality user-friendly CRM system like Modera’s.