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With nearly three-fourths of auto dealers today using a CRM system, it’s clear that dealerships understand the benefits that a CRM can bring their business. But understanding the possibilities of a CRM is only the first step. Your people have to actually use it. Learn a few key elements of a training program that often predict if a dealership team will utilize their CRM to its full potential.
The auto industry is blessed with an abundance of data that can help us do our jobs better. But there are too many situations where that data is not used effectively – and customers’ expectations aren’t met, leads are missed and sales are lost. As an industry, we’re currently falling short in giving customers a great experience. But if we use the data we have to personalize the customer experience, sales and retention will improve.
It’s an ugly truth in our industry – customers don’t like the car-buying process. According to a 2015 Autotrader Car Buyer of the Future Study, less than 1 percent of consumers like the current process. But there’s good news: dealers can greatly improve the car-buying process by simply making the most of the tools like VinSolutions Connect CRM that are already at their disposal.
We’re coming off of a few great years, so you might not feel it yet, but vehicle sales are trending downward and profit margins already have begun to compress. It’s just the cyclical nature of the automotive industry. Follow this simple formula for success to relieve the pressure before it can build.
Many times, dealers are disappointed in their customer relationship management system. Despite investment in a CRM, many dealers still don’t hit the numbers they wanted or see the operational improvements they expected. In many cases, users are making one or more of these basic CRM mistakes at their dealership.
With auto sales volume slowing, many dealers are wondering how to acquire enough new customers to stay profitable. But dealers already have a gold mine of sales opportunities at their fingertips: their existing customers. Even if winning new customers becomes more difficult, there are more sales opportunities already in your database than you might think.
One constant message we send to our customers is that your CRM is only as good as the data entered in it. The way data is captured, managed and utilized in the CRM is the key to customer acquisition and retention. So, why aren’t dealers focusing on utilizing their CRMs to generate more business from your known customer base?
Ahhhh. Leadership. Accountability. Both are concepts we are all too familiar with. Can you have one without the other? I don’t think so. Leadership is many things, and many books have been written on the topic, but I’m going to ask you to zero in on one aspect: accountability.