At Automotive Product Consultants we always emphasize the power of increasing revenue beyond vehicle sales. There are many overlooked revenue opportunities in dealerships, but taking the time to realize them is a great way to transform the bottom line. These are four methods that owners and general managers of dealerships can use to increase revenue.
The competition for customers between automotive dealerships is fierce. Consumers are more involved than ever before in purchasing processes and are easily able to compare dealerships to find the best fit. With access to the internet for online research, recommendations, dealership comparison, and even vehicle purchases, customers can change dealerships easily, and dealers are feeling the pressure of learning how to keep customers returning to their store.
When a customer is buying a new or used vehicle, they are usually offered a vehicle service contract as an extra option for protection. About 60% of consumers don’t buy a service contract when they purchase their vehicle. This could be for many reasons – the vehicle may be under factory warranty, or the consumer may not fully understand what a service contract entails and whether the cost is worth it. Read on to learn about the benefits of a vehicle service contract and who consumers looking for this coverage should purchase from.
Beyond the gleaming showroom floors and polished vehicle displays, branding is the unseen force that distinguishes one dealership from another. The success of a dealership doesn’t solely rely on vehicle sales, but also relies on the strength of a dealership’s brand. Read on to learn why dealership branding is important and how it can transform a dealership into a beacon of success within the automotive industry.
New technology in the automotive industry provides a variety of attractive options for consumers. From smart integrations to advanced safety features, customers are visiting dealerships to try out the newest models and learn about the benefits.
Many factors contribute to success, and among them is the delivery of exceptional customer service. The quality of service provided to vehicle buyers can make or break a dealership’s reputation and bottom line.
If you’re an agent working with automotive dealerships, you already know that ensuring customer satisfaction and retention while boosting revenue is a challenge that dealership principals face on a daily basis.
We’ve all had our phone ring and look at the number on the screen, only to realize it’s a spam call. Effective communication is integral to the success of any marketing campaign. In a world where a consumer is spammed, how do legitimate offers and communications from businesses stand out?
Dealers today are being confronted with the reality of consolidation throughout the automotive industry. The dealerships themselves are often acquired by large dealer groups or even competition. Agency partners, administrators, and others are also impacted by consolidation – agencies buy agencies, administrators partner together, and other companies are joining to grow business. Many industry experts predict that consolidation will be an ongoing trend, so it’s important to think about the future and how best to plan for how your dealership can keep its identity if it joins another group.
It can be difficult for dealerships to motivate their sales teams – vehicle sales are intensive, and employees can easily be drained. Sales managers need to understand that they must also focus on rewarding their employees in ways that go beyond their paychecks.
Everyone deserves to feel motivated by the work they do for their sales manager.
