Plan When Times are Good to Build an Even Better Future - AutoSuccessOnline

Plan When Times are Good to Build an Even Better Future

As of this moment, on average, things are good in the automotive marketplace. Last year, Americans bought 17.5 million cars and trucks — that’s a 6 percent increase over 2014, and a new record in sales. Experts are saying that 2016 is going to be even bigger.

Things are going well, with every expectation that they’re only going to get better. Time to slack off and relax? Not on your life.

​The American consumer is changing, evolving. They’re better educated on what’s available in vehicles, financing, pricing and competition. They know what they want, and they’ll buy from dealerships that can provide them with it. If your dealership hasn’t kept up, you can bet that one or more of your competitors have, and customers will find the dealership that serves them the way they want — the way they demand — to be served.

Add to this the big names about to make a big wave in the automotive space — Tesla, Apple, Google and others — and suddenly the idea of relaxing and resting on your laurels seems ridiculous.

The good news is that it’s better to plan for the future and build a strategy when your dealership isn’t in crisis mode. It’s easier to come up with new ideas and investigate what’s available when you’re not putting out fires and trying just to survive. Take advantage of the feast now and you’ll avoid the famine later.

  • Listen and Learn About Your Customers — Are your salespeople still using the same techniques and tactics as they were five years ago? 10 years ago? Longer? If so, you’re likely losing sales as a result, and those losses are only going to grow as the modern consumer evolves. Take some time and look at market trends, demographics and case studies, and see where your sales process meets the consumer’s wants and needs, and where it falls short. There are plenty of articles in AutoSuccess that can give you insight into the modern consumer’s habits and desires. Take some time to learn about your customer, and those satisfied customers will reward you with their business.
  • Take Advantage of New Technology — Just as consumers have facts and figures at their fingertips, so should your sales and service staff. Investigate and invest in technology that not only makes your staff more efficient internally, but can also streamline and improve their sales techniques to make customers more comfortable in the sales process. For instance, are your salespeople always going back to look up information or present brochures to prospective customers? Mobile technology exists that makes information finding instantaneous, shortening the sales process and putting your salesperson in the best light possible. Remember that little things, when taken together, can make a big impression.
  • Be Open to New Ideas — The epitaph that could be carved into the tombstones  of most failed dealerships would be “We always did it that way.” Be open to new ideas and fresh takes on the sales process. You don’t have to jump on every bandwagon that passes by, but you should keep your eyes open for new techniques, technology and training opportunities that can set your dealership apart from the others. The best place to be is on the leading edge of new tech and ideas; the worst place is behind the wave, picking up what’s left over, and seeing the wave get further and further ahead of you. Don’t be afraid of the future; the customer isn’t, and you need to be the dealership to meet the customer where they are.

You May Also Like

The Dealership Flywheel: A Perspective from X-Amazonian

Customer obsession is key. Every dealership must have processes in place to never fail a customer.

service customer and mechanic

As your dealership heads into 2024, it’s common to reflect back on the previous year and identify possible areas of improvement. As you reflect, consider things like whether or not you’ve had about the same number of people coming into your service department each day of the week or month of the year. As you reflect back on this past year’s sales and inventory hurdles, you undoubtedly know which months your store sold the most used or new cars.

New Research Reveals Age and Gender Differences in Vehicle Add-On Purchases

Are there certain age/gender demographics with a higher propensity of purchasing any specific set of VPPs? This study sheds light on consumer preferences and priorities when it comes to safeguarding and maintaining vehicles.

study about age and gender differences - man and woman
How Generative AI Is Impacting Auto Lending Compliance

What is often left out of recent headlines, is the extraordinary power of AI to reduce harm, including fair lending and discrimination risks.

5 Predictions for Front-Line Chat Solutions

In the next few years, prepare for a chat solution that must act like a personal greeter to every customer who visits your digital showroom.

Maximizing Fleet Uptime: A Dealer’s Guide

This guide provides actionable insights for dealers to ensure their fleets are always on the move.

Other Posts

Your Service Department’s Undervalued Opportunity: Streamlining RO Stories

Consider how much time repair event stories take to write. Now, multiply that by the number of technicians employed at your dealership and you could easily be wasting hundreds of technician hours every month.

Ways to Save on Credit Card Merchant Transaction Fees

A processor should lessen your workload by handling merchant processing. They should free you up to focus on the customer, while feeling confident that your processing remains compliant and safe.  

How End-of-Year-Sales May Impact Auto Finance Digital Transformation Strategies

We still have a very paper-driven culture but we need to continue to shift focus to digitization to reduce risk and liability.

The ROI of Giving Back

The key place to begin for any type of giving-back initiative is to determine what drives you and inspires you.