GM’s are Finding Hidden Revenue in Recon and You Can, Too
It is becoming increasingly critical that dealership operators recognize how reconditioning practices affect bottom line profitability. Unstructured and unmonitored recon practices create waste and costs that erode used car gross. On the other hand, GMs will transform their recon operations into profit centers when they use a time-based, continuous improvement strategy to drive this critical
Your Customers Will Pay More
The best way to gain and retain customers is by providing services that other dealerships won’t, and making sure that the customers know you value their business. Happy customers not only continue to do business with you, but will often pay more if they value the relationship. In my years in the car business, I’ve
Podcast: ROI on Your Marketing Spend
D.J. Wehby of HP360 joins us to talk about maximizing the ROI on your dealership’s marketing spend.
Stop Offering Test Drives!
Attention all auto dealers: If you are looking to increase your bottom line in 2017 by saving your way into a profit…stop offering test drives. The costs associated with customer’s test driving your inventory can be astronomical, from the fuel to the insurance.
Success Story: A Vision of Excellence
Delivering 30+ sales per month from the service lane through a vision of commitment to their team, a strategized marketing plan and a deep focus on data, Lithia Hyundai of Reno unveiled an innovative plan to profitability.
DATA DRIVES VIDEO MARKETING RESULTS
Knowing where a consumer is in the vehicle purchase process is critical when it comes to advertising strategies. Let’s face it — a much different approach is required for effectively communicating and engaging with consumers who are in the market to buy a car in the next five years versus those who are ready to
Five Steps to “Turn Up” That Vehicle Turn
Next time you have a lot of a particular vehicle to move, don’t panic. When you follow these five steps you can feel confident that your spending is cost-efficient, you’re effectively targeting the right areas and you’re using a message that has the best chance of resonating with prospective buyers of your particular vehicle. It’s a solid strategy backed by data, and a winning model for success.
FILL OPEN DEALERSHIP POSITIONS BY PROMOTING INTERNAL EMPLOYEES
Each year, the turnover rate for dealerships continues to increase. In 2013, the average dealership saw a 66 percent turnover rate among sales consultants, well above the national average for the private sector of 42 percent. As of 2015, that number has risen to 71 percent. Regardless of the cause, high turnover rates are both
Five Steps to “Turn Up” that Vehicle Turn
You’ve no doubt been there — that time when you had to move a lot of a particular vehicle, fast. Maybe you wanted to take advantage of a manufacturer spiff, or needed to clear out slow-moving inventory or unexpectedly got stuck with some less-than-desirable vehicles. Whatever the reason, the pressure was on. At the time,
Solving the Automotive Digital Marketing Puzzle: Budgets, Inventory and Funnels
As a kid, I remember it taking me about an hour and a half to solve the original Rubik’s Cube. It was deductive “if-then” reasoning that got me through that task then and still guides me today. I’ll admit, though, that it sometimes takes me longer than an hour and a half to solve some of today’s automotive digital marketing puzzles (wink, wink).
