Drivers are keeping their vehicles longer than ever before – in the United States, average age of vehicles on the road has reached a record high of 12.6 years. This trend stresses an unavoidable reality: maintaining a vehicle’s health to ensure reliable transportation is more important than ever.
Keeping an older vehicle running smoothly is sometimes challenging, and the older the vehicle gets, the more likelihood there is of a mechanical breakdown.
The automotive industry is one that never stops evolving – hybrid vehicles are gaining interest, online car buying is booming, and customer expectations for a smooth buying experience are at an all-time high. Dealerships prioritizing client feedback are best positioned to thrive in an extremely competitive industry.
Online lead generation is crucial for dealerships as it helps to drive traffic and boost sales and revenue. By capturing potential leads, dealerships can engage with prospects and guide them through the sales process.
It’s not enough to just tell an employee they are doing a good job – dealerships need to help their sales team employees grow and reach a new level of success. Whether your dealership is working to attract new talent or develop existing top-performers, there are always ways to improve so your employees can grow and give your customers the best experience possible.
Every dealership knows that profit isn’t just generated from vehicle sales – it also comes from the products offered by your F&I department. However, convincing a customer that they need F&I products during the vehicle purchase process can be difficult. According to NADA, 53% of buyers don’t buy a vehicle service contract from the dealership F&I department when purchasing a vehicle, and these are missed sales opportunities.
Traditionally, the Finance and Insurance (F&I) department has focused on appealing to a broad range of consumers with a one-size-fits-all approach. However, the rise of Generation Z shoppers demands a shift in the strategy of selling F&I products. Gen Z is coming of age and beginning to slide into the driver’s seat. While this generation follows those that precede them in prioritizing price as the biggest motivator for what vehicle to buy, they follow their own path when it comes to protecting this very large purchase.
Some of those automotive businesses are beneficial to both drivers and dealership. Tire shops, auto body shops, and even junkyards serve an important part in the vehicular ecosystem. However, some businesses on the fringes of the automotive world provide poor experiences to customers and dealerships like.
Third-party marketers are among those businesses that are harmful not just to the vehicle owners they target, but also to dealerships by causing harm directly to the automotive industry.
In today’s competitive automotive landscape, dealerships must constantly seek new ways to engage with customers and drive growth. One powerful tool that is often overlooked is a well-crafted blog tailored to your customers’ needs and interests.
The business social media platform LinkedIn was launched in 2003 and met with resounding success, and it has only continued to grow in popularity. It is the third fastest-growing social media platform and saw a 20% increase in users from May 2022 to January 2023. In the automotive field, it’s an invaluable tool for agents looking to connect with new business partners and dealership employees.
Marketing using consumer data can be valuable for dealerships. Following up with vehicle buyers on routine maintenance, notifying customers of finance specials, and post-sale benefits are all ways dealerships use consumer data. When done properly, marketing with consumer data leads to more sales and increased customer retention.
